HOW TO SET SMART GOALS TO GROW COACHING BUSINESS

by | Oct 31, 2022 | Business Growth, Coaching | 0 comments

HOW TO SET SMART GOALS TO GROW YOUR COACHING BUSINESS?
My mentor always used to say “A goal without a plan is a dream”. He always uses such motivating thoughts to inspire his students. But he was so disciplined and focused in his approach towards goal setting and its achievement.
 
I felt lucky that I have mentored by him and I learned a very important lesson from him is you need to be very clear about what you want to do and how you plan to do it if you want to succeed, whether it is your business, relationships, career etc.  We all know the relevance of goal setting.
 
Your business goals are as important as your personal goals to grow your coaching business. You must ask yourself; what are your business goals for this coming year? 
 
because doing so encourages the development of new habits, directs your public attention to your objectives, and enables you to maintain momentum in the demanding environment of your coaching business.
 
Goals give you purpose and general direction as exactly what you have to spend your time and energy on. Even though you don’t know how to make it happen, making a goal offers you something to focus on. Having specific, predetermined goals gives you the ability to focus your energy while also holding you responsible for your actions and giving you a sense of guidance for your future.
 
But still a main question that comes to my mind is; how to set goals that can give greatest results on time? We all know that goal setting is the first step in achieving them.
 
So, to overcome business challenges and ensure realistic growth of your coaching business. You have to use the SMART goals setting technique.  The acronym SMART, which stands for Specific, Measurable, Actionable, Relevant, and Timely, is use by coaches.

SMART Goals Stand For:

Specific: goals that are clear and specific to realize 

Measurable: Goals that can be measurable and allows you to track your progress.

Actionable: You are able to take actions to achieve your goal.

Realistic: Goals must be realistic i.e easily achievable.

Time-bound: Your goals must be completed in a time- bound manner.

Since a SMART objective is so well-planned and specified, it is simpler to accomplish. Setting SMART goals is a skill! Starting with a vision or an idea, we gradually develop it, making it more precise and quantifiable until it becomes a target that we can work toward. It helps you focus and sharpen your ideas so that your goals are actionable, attainable, and SMART. 

SMART goals are simple to establish, measure, and evaluate progress toward, and I encourage its usage. If your goals aren’t SMART, you won’t succeed in reaching them.

For example: consider yourself with the goal of getting more sales, is this goal sound specific and would you be able to track your progress of whether you have achieved that goal or not? Obviously not! It implies that the main characteristics of a SMART goal are, it must be specific, quantifiable, and trackable.

Thus, the SMART goal-setting technique does not give you a well-defined structure of effective goal setting but it allows you as a business owner to see the ongoing growth in your business with the help of this process. Just like a speedometer! In this article, we have discussed how you can set SMART goals to grow your coaching business. We will guide you deeper into each element of SMART goal setting so that a deeper understanding can be enhanced of the goal setting of your business.  

      • Specific:  Many people fail to achieve their goals or work hard to meet them because they don’t make their goals specific enough. Your goals must be specific in nature. Specific goals are easier to achieve and to take action on. Specifying a clear or quantifiable goal gives you clarity on making decisions and taking actions. So, even when you fall behind the curve when you set out to achieve the goals you can take corrective actions to improve your efforts. You have to keep this thing in mind, while setting your goals; It is difficult to take action on them if they are too broad and overwhelming. It should be clear and well- defined.
       
      • Measurable: If you are unable to prove that you have achieved the goal, it is not quantifiable and thus not a SMART goal. Making your goals measurable is crucial for achievement of the goal. For e.g: Increasing the annual revenue of my online healthy diet course from $10,000 to $25,000 by Nov 30 next year. Since we defined a certain amount (i.e $25,000 in this case),  we can track our progress in time and take proper steps to remove all the obstacles that can hinder progress. Thus, you need to fulfill the criteria of measurability while setting goals.
       
      • Actionable: A goal needs to be attainable and under our control for it to be SMART. Otherwise, it is a dream rather than a goal. Actionable goals give you control over the actions that you take towards achieving that goal.  For example: The phrase “Have a giveaway with newsletter sign-up on your website” is not your aim (this is vague and passive and while actionable, it is not action-oriented and does not inspire action). But, you may set a goal of “Write a one-page special report on seven strategies to better take care of our feelings and add it as the newsletter sign-up bonus for your website”. It shows what actionable goals should look like
       
      • Realistic: Your SMART goals and actions must be difficult enough to motivate you and they must be attainable enough for you to think you can do them. Setting oneself up for success is the key. Goals that are tough or difficult yield higher results than goals that are moderate or easy. As long as the goal does not exceed what you are capable of doing, it is an attainable goal, a realistic goal.Thus,a goal shouldn’t be challenging enough that you fail to achieve them, that causes you frustration. Thus, it’s crucial to define goals based on your skill level.
       
      • Time– bound: Goals must be time bound. Setting a deadline that is far away for simple work or that is too close for something difficult and time-consuming is counterproductive. Setting a deadline allows us to rank our activities and motivates us to devise a proper action plan to realize that goal in a time bound manner. 
       
      Now that you are aware of their significance, you should begin the process of defining and achieving goals. The process of defining goals can help you discover meaning and purpose in your life, whether they are business-driven goals for your team or personal goals for yourself.
       
      Still unsure of how to develop and do goals? Or more guidance on your goal-setting journey? Get in touch with us to guide you and your team on the path to reaching your full potential.

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