Set S.M.A.R.T. Goals for the Holiday Season
What goals do you have for your business this holiday season? Do you want to widen your customer base? Sell more gift baskets? Expand your catering or private party business? Whatever your goal, you’ll need to make sure they are S.M.A.R.T. before you can attain them:
- Time Specific
Don’t worry, we’ll show you how!
Can your holiday goal be described in specific terms? Not vague, but written so you understand exactly what needs to be accomplished. Make sure to ask: who, what, where, and when.
Not Specific: “increase sales of gift baskets”
Specific: “increase sales of gift baskets at downtown location during the week”
How many gift baskets do you want to sell? You need to have a measure so you know when you achieve or exceed your goal.
Not Measurable: “increase sales of gift baskets at downtown location during the week”
Measurable: “increase sales of gift baskets by 10% (from last year) at our downtown location during the week”
Quantitative and Qualitative Measures
Quantitative measures are things you can easily measure by quantity. You can probably pull this information from your POS system. This includes sales numbers, customer transaction counts, sales of individual items, etc. Also use qualitative measures such as customer comments, employee feedback, enthusiasm of customers and employees. Qualitative measures may not be as scientific as quantitative, but they are equally as important.
Is this something you know you can do? Is the measurement set so high, or the time set so short that it won’t honestly be possible to make this happen? While, yes, it’s good to push yourself… don’t create something impossible that’ll just cause frustration.
If you have too many goals at once, shift timing so some happen first, then others begin upon the conclusion of the last group.
Is this goal really what you should focus on right now? Are there other things that are more important (like moving high-priced or limited edition items) or that will have more of an impact? Are you confusing activity with productivity? Is it worthwhile? Only you can answer this for your business!
How much time are you giving yourself to achieve this goal? Having a specific deadline allows you to budget your time properly and gives you a sense of urgency.
Not Time Specific: “increase sales of gift baskets by 10% (from last year) at our downtown location during the week”
Time Specific: “within the next 90 days increase sales of gift baskets by 10% (from last year) at our downtown location during the week”
See? It’s easy to be S.M.A.R.T!
See more Holiday Planning articles here.