The way we do business has changed forever, and so has the way you should be setting goals.
Using goal setting tools are important when you’re looking to plan for future growth, but the formula for goal setting needs a little tweaking due to recent events.
To make it easy, we’ve added an acronym to help you to refine your goal setting techniques so that your goals will be practical instead of frustrating during these ever-changing times.
A dependable formula for goal setting can be found in SMART goals. According to Indeed.com, “ Using the SMART goal framework sets boundaries and defines the steps you’ll need to take, resources necessary to get there, and milestones that indicate progress along the way.” SMART goals form the base off of which we set goals at Seedling.
SMART goals represent goals that are Specific, Measurable, Attainable, Relevant, and Time-Based. Your goals should be specific so that you will be more apt to stick to them, measurable so that you’ll be able to monitor progress, attainable so that you’ll be able to see them through, relevant to your company’s purpose, and time-based to provide motivation and momentum.
SNAP is an addition to SMART goals because while your goals should still follow the SMART framework, we’ve found that these adjustments can help your goals be more successful through the pandemic and the transitions involved during re-opening.
What is S.N.A.P.?
S = Sensitive
These are stressful times to be living in right now, so whether you’re selling a product or working with other businesses to help them excel, remember to be empathetic to your audience. Make sure that the goals you set are for the good of everyone and not just good for your own business.
Example: Seedling works with a restaurant called Venezia that closed to the public and needed to build revenue, but they wanted to give back to organizations that were helping the community.
Their goal SMART goal looked like this with SNAP:
“We will raise $3,000 dollars in gift card sales and 10% of each card will be donated to the Greater Boston Food Bank.”
N = Noncommittal
The rules and regulations are always changing since the pandemic has begun so don’t marry your goals. Make sure that they are flexible and you are able to move them around when necessary. This doesn’t mean that your goals shouldn’t be specific, just make sure that you have a back-up plan in place.
Example: Our client Boston Winery wasn’t sure if they would be eligible to move forward into Phase 2.
They formulated 2 goals:
- “We will hold hour-long tastings for parties of 6 people or less starting June 14th, if we are approved for Phase 2.”
- “We will continue to offer live, virtual wine tastings each week to continue to promote our brand increase sales on wine.”
A = Aware
Being aware of the changes and transitions into the different phases of reopening is crucial during this time. If you don’t update yourself with the changes that are being made within your area you won’t know when to switch up your goals or when to keep on your original course.
Example: All of our clients have been affected by the closure due to the pandemic and we’ve had to be knowledgeable about what the different phases allow and what they restrict because the regulations for event spaces are different than the regulations for restaurants and clothing stores.
P = Proactive
If you don’t remember this last word then none of the aforementioned ones will matter. With things changing so quickly, you need to be swift in your decision making or your goal could lose its value (see our blog about OODA Loop).
Example: In order to prepare for your goals to succeed, you will need to set yourself up for success. Before the Governor announced that MA would be proceeding into Phase 2, Venezia wasn’t sure if they would be opening their patio to the public. But just in case they would be, they made sure to be ready.
Their goal looked like this:
“We will make sure that our patio menu is prepared and our patio is set to the standard of the COVID regulations by June 6th, the date of the Governor’s announcement so that we will be able to open by June 17th.”
In being proactive, teamwork and communication have played major roles in our workplace lately. With lots of pivoting and adjusting plans and goals, we’ve had to make sure that we are in sync with changes and how they might affect our clients and ourselves.
If you are having trouble adjusting to the changing times or are uncertain about how you can turn those goals into reality, we’ve got you covered.
Achieve your goals & increase your cash flow in the next 90 days.