Developing Smart Goals

Practical Application

Dec 07
Make SMART Goals

​Developing SMART Goals

​Near the beginning of each year, many people make New Year’s Resolutions that include plans to improve some aspect of their lives.  By the year’s end, approximately 95% of those plans would have failed.  These failures occur primarily for two reasons.  The first reason relates to not properly defining smart goals. Often the goals are too complex and difficult to understand.    The second reason, which is the most difficult to achieve, involves breaking the old habits of our current mindset and establishing new ones.

​Defining SMART Goals

​The word “SMART” is an acronym that functions as a memory aid for the five components of properly defined goals.  Those components and their descriptions are

  • ​Specific – Write a detailed description of your goal. This description should include explicit details such as size, colors, location, amount, etc. 
  • Measurable -– Identify an event that best describes goal accomplishment.
  • ​Achievable -  Make sure the goal is obtainable.  Be realistic. Setting too high of a goal, in most cases, results in automatic failure.   However, setting goals to low is less rewarding once accomplished. 
  • Relevant – Ensure your goal is part of a bigger picture. If you desire to become a soccer player, it’s irrelevant to have a goal of practicing baseball every day.
  • Time-Bound – Determine a specific target date for successfully completing your goal.  

​SMART Goal Example

​Goal statements need not be complicated.  All five components of a SMART goal can be
expressed within a single sentence. Here’s an example:

​SMART Goal Example


By May 2021, after graduating from the University of Goal Setting, I will start a career
in the accounting profession.  

​The goal statement shown above contains all five of the SMART elements. 

  • ​Specific
    – starting a career in accounting after graduation from college
  • ​Measurable
    – acceptance of a job offer for an accountant position
  • ​Achievable
    – job specifications require a college degree in accounting.  The student currently has a high college grade-point-average.
  • ​Relevant
    – an accounting career path is consistent with earning an accounting degree
  • ​Time-Bound
    – by May 2021

​Once your goal is defined, the next step is implementation.   The implementation phase is more challenging, but when planned and executed properly, successful completion can become a reality.

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