The 7 Step Guide for MSME Leaders to be Able to Set Goals Effectively

We all know how important goal setting is in every stage of life. But is of all the more important when it comes to MSMEs. Why? Because it ensures effective communication of the organization’s priorities. Especially now, the need for clear goal-setting can help MSMEs determine where exactly to put their resources. Besides, if people go to work every day with no end in sight and no goals to achieve, it begins to wear them down. Everything starts to feel mundane, and people begin to lose all interest. However, goals help workers take ownership and pride in their work.

Below is the most effective way MSME leaders can set the right goals.

Step 1: Find out your WHY

The underpinning of the existence of your business is that very clear sense of WHY that you had when you first started on this venture. A similar quality is needed for every goal of yours. What does this goal mean to you? If you are going to successfully tackle this goal, it needs to be really important to you. Therefore, before doing anything define your WHY for yourself.

Step 2: Create goals that are S.M.A.R.T

Once you know why you want something, now ensure it meets the S.M.A.R.T criteria:

• Specific (Ask questions like- What do I precisely want)
• Measurable (Ask questions like- How much of it I want, what are the proportions I want it in)
• Attainable (Ask questions like- how realistic is the goal based upon other constraints as well)
• Realistic (Ask questions like- Does it fit into the larger picture of our goals and needs)
• Time-bound (Ask questions like- What should I do today to progress towards it and how long will it take for us to make it to the finish line)

You can apply this S.M.A.R.T filtering criterion during the planning phase for the coming quarter (or year) to take care of all the vague components.

Step 3: Announce your Goals

Once you announce your goals publically, it becomes more tangible than a mere idea that resides in your head. You will feel more accountable for it. Hence, make sure once you decide on a goal you communicate amongst others in your organization. This tactic reminds you of the expectation that others expect you to be able to deliver.

Step 4: Create an Action Plan

Deciding on a S.M.A.R.T goal is essential but not enough to achieve a goal. You need an action plan as thoroughly detailed as possible. It should include the overall goal broken down into smaller milestones you need to take to get there.

Step 5: Create a Timeline

Assign a date by which you plan to finish off those micro-tasks you have on your agenda as per the action plan created in the step above. Make it a rule of thumb to stick to those deadlines as closely as possible. A timeline is a way to create urgency which in turn motivates you to stay on schedule.

Step 6: Take Action

Now do the needful so that all the above steps bear some fruits. You didn’t undergo such an elaborate process for just cerebral gymnastics.

Step 7: Re-evaluate and assess your progress

To ensure you don’t digress, Consider scheduling a bi-weekly or monthly evaluation of the Key Performance Indicators (KPIs). Once you know your level of progress and are able to see how close the finish line is, you’ll feel more motivated to push through to the end. If you’re a little behind schedule, make necessary adjustments and keep going.

This is it from our side. Let us know in the comments below if it was helpful to motivate you to begin goal-setting for yourself and your organization. Also, if you feel the need of seeking some professional advice on the same please free to contact us on +91–8882132258,+91 87500 00270, or drop a mail at connect@dranshuldhingra.com

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