Personal development goals are as crucial to entrepreneurs as professional goals, as those that grow personally also grow professionally. However, many entrepreneurs are so focused on growing their businesses they forget how crucial personal development goals are in their success.
Purpose of Goal Setting
Just like professional goals, personal development goals define objectives and help create an action plan that makes goals attainable. Personal goals may begin as vague thoughts about what you want to achieve in the future, such as having a family or increasing your income. Although initially vague, in order to achieve success, goals must be focused in order to develop an action plan to achieve them. One method is to use the SMART System.
The SMART System for your self-development plan empowers you to define your goals in order to put processes in place to attain them. In the SMART System, goals include the following criteria:
- Specific – Goals cannot be vague. “I want to make more money” is not specific enough, but “I want to earn 10 percent more this year” is specific enough to be realistic.
- Measurable – It is important to measure your progress as you work toward your goals. Reviewing your progress monthly or quarterly is an effective way to monitor whether your action plan is working.
- Achievable – Although goals may seem unachievable when you look at them as a whole, a true goal must be one that you could possibly achieve by following specific steps. Setting a goal to earn a million dollars in six months is probably not achievable, but setting a goal to earn a million dollars in ten years may be if you create the proper action plan.
- Realistic – Setting a realistic goal does not mean setting your sites lower. You can set long-term goals that seem impossible, but that does not make them unrealistic. The key is to set goals that, with the proper action plan, are attainable.
- Timely – For any goal, allowing adequate time for achievement is crucial. You are not going to increase your income by 10 percent in a week, so setting a goal to do that is not realistic. If your goal is to increase income by 10 percent over the year, set a goal to achieve 2.5 percent increase each quarter.
Keys to Goal Setting
Once you have used the SMART System to determine your personal and professional development, write them down along with your action plan. Review your goals and plans regularly to make adjustments as necessary. Set an appointment with yourself if necessary to be sure you conduct such a review. Setting sharp, clearly defined goals allows you to measure your progress and build self-esteem as you achieve them.
TSTN has an on-demand personal development goals library that contains over 300 online training programs with the legends of the self-improvement industry. View our SuccessCast featuring Bob Proctor’s “Paradigm Shift” to get a taste of what we offer. Also, expand your knowledge more about our personal development planning tips by visiting TSTN’s website, or visit us on Facebook, Twitter, YouTube and Pinterest.