Small Business Jargon Decoder

What are SMART Goals?

Small Business Jargon Decoder

The Technical Definition

SMART Goals are objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound. This framework provides a clear and structured approach to setting goals that can be realistically accomplished and tracked over time.

In English, Please

SMART Goals are all about setting clear targets. Instead of vague wishes like “I want to grow my business,” you set goals that are clear and actionable—like “Increase website sales by 20% in the next six months.” This way, you know exactly what you’re aiming for and can measure your progress along the way.

Do Small Businesses Really Need SMART Goals?

SMART goals can definitely be helpful, even for small businesses. You most likely don’t have extra resources for non-essentials, which makes means it’s crucial to have clear goals that your whole team is aligned with.  Knowing exactly what you’re working towards helps you prioritize efforts and measure success. It doesn’t need to take a lot of money and time to develop SMART Goals, and they help keep you focused, ensure accountability, and make it easier to adjust your strategy as needed.

Common Misconceptions

  • SMART Goals are too rigid. While they provide structure, they’re flexible enough to adapt as circumstances change—just update them as needed.

  • They stifle creativity. Setting clear objectives doesn’t limit creativity; it helps you focus your creative efforts on what truly matters for your business.

  • Goals have to be extremely ambitious. The key is to set realistic, achievable goals that motivate progress, rather than setting the bar unrealistically high and risking burnout.