Life as a manager can be very complicating. You must juggle multiple demands including employee hiring and firing, inventory management, public relations and increasing profits. It is very easy to get overwhelmed with the many tasks you are required to perform but it is vital that a competent manager is able to focus on the main priority. The main priority of many managers is ensuring the profitability of the company.
One way many managers stay focused is by setting SMART goals. SMART goals allow you to focus on the priorities that matter. While you will always have multiple tasks to accomplish, the SMART goals will help you to outline and map a path that ensures the main priority is the profitability of the business you are running. Here are some SMART goals examples for managers.
You need to be specific as to the ultimate and main goal. If your main goals are to increase profits then you need to be very specific about it. Dont just make your goal increasing profits, but instead set a fixed dollar amount for the goal. Be specific such as: I will increase the gross revenue of the store to over $1,000,000 each year. Your goal needs to be very specific.
Goals need to be measurable. Fortunately this example goal of increasing the gross revenue of a store to $1,000,000 a year is easily measured. If you do not get the gross revenue to 1 million dollars then you have not yet attained your goal. The specific goal is the benchmark that you will strive for and you should always be inching closer to that goal. Many managers make goals that are unrelated to overall profits such as increasing employee retention rates. Regardless of what your specific goal is, you should always have a way of accurately measuring your progress.
You goal needs to be attainable. If you set an unrealistic goal then the entire purpose of using these SMART goals for managers is defeated. If you run a hotdog stand at the city park during the summer time in a small town then a financial goal of $1,000,000 is not realistic. You need to set goals that are attainable, even though it may take a lot of work. On the other hand, if you are selling refurbished computers on EBAY that you buy wholesale at liquidation auctions then a million a year in gross revenue is attainable. Your goals need to be very specific and also very attainable.
You goals must be relevant. If you run a non-profit violence shelter for women then setting a goal of earning $1,000,000 a year is not relevant to your overall business plan. If you run a service business such as a restaurant or convenience store then increasing your overall gross revenue may be very relevant to your business plan.
You should set a target date of achieving your goal. Give yourself ample time to reach your goals but you also want to force yourself to work extremely hard to reach those goals. You need to be focused so that you can achieve your stated goals in the allotted time. Set a goal that if you work extremely hard at and stay on track then the goal is very achievable but if you mess around and procrastinate then you will get off track and may never reach your goals.
SMART goals examples for managers can be used to set-up your own goal plan. The SMART goals will help you to set specific attainable goals that will help all businesses to reach their full potential.