How to Set SMART Goals in the New Year

Uncategorized Jan 07, 2021

It’s that time of year again.

The time of year when most of us make resolutions, only to abandon those resolutions a few short months from now.

But what if I told you there’s a better and more effective way to set goals that you are sure to meet?

Meet the SMART goal.

What are SMART goals?

Setting goals is the best way to meet your objectives. Without goals, you are just flying by the seat of your pants with no direction or idea if you are on the right path.

 

When it comes to achieving success in your work-from-home transcription business, you need to know how much time and energy to devote and where those resources can make the most impact.

 

SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant and Time-based. All elements of a SMART goal work together to create a goal that is planned, clear, and trackable.

 

How do I set a SMART goal?

Let’s say one of your goals for 2021 is to get out of debt. That’s a wonderful goal! But what does it mean to you? How will you accomplish this? How much is achievable and is it sustainable?

 

Starting goal: Get out of debt.

 

SMART goal: I will reduce my credit card debt by 50% by the end of 2021 by implementing the snowball method to pay off debt and not using my credit cards for new expenses.

 

In this example, I’m specific about what I will do (reduce credit card debt specifically), by how much (50%), the method I will use (snowball method), and by when (end of 2021). This goal is relevant and gives me the opportunity to measure my success.

 

Using your transcription business as a model, here are some examples of possible goals as well as examples of how to fix them to fit the SMART model.

 

S = Specific

Be clear and specific about what you want to achieve.

 

Original: I want to run my own work-from-home business.

Better: I will earn income transcribing from home.

 

M = Measurable

How will you prove that you are making progress?

 

Better: I will earn enough money transcribing from home in 2021 to cover our holiday expenses.

 

A = Attainable

Can you accomplish your goal in the specified time? Be realistic about what is achievable and how you will do that.

 

Better: I will update my resume with relevant information and apply to 3 subcontracting positions in order to further develop my skills.

 

R = Relevant

All of your goals should align with your values. Don’t try to match someone else’s goals. Think about your specific circumstance, goals, and path to getting there.

 

Better: To achieve my goal of earning money transcribing from home, I will update my resume with relevant information and apply to 3 subcontracting positions in order to further develop my skills.

 

T = Time-based

Time is an important factor in goal setting. Without it, how can you prioritize? It’s also far more productive to set incremental goals with fixed timelines to build up your sense of progress which in turn builds your motivation.

 

Better: To achieve my goal of earning money transcribing from home, I will apply to 3 subcontracting positions by February 15th, 2021, so that I can continue to develop my skills through a subcontracting position.

 

Conclusion

What are your goals for 2021? How can you convert these to SMART goals to help you prioritize and have a better chance to achieve them?

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