Smart Goals for an Organic Growth model for SMEs

What is Entrepreneurship about

Published on 14 May 2022

SMART Goals examples

When starting a business, you have a lot to do. Market research, writing the sales and marketing plan, building your networks, etc. are all important SMART goals.

With the SMART goals strategy, you can work step-by-step towards achieving your strategic goals for setting up your own business.

The letters of SMART stand for specific, measurable, achievable, relevant, and time-bound goals:

  • Specific – target a specific area for improvement.
  • Measurable – quantify or at least suggest an indicator of progress.
  • Achievable – Is your goal within reach; is it practical?
  • Relevant – do you focus on the right priorities, will you benefit from it?
  • Time-bound – specify when the results can be achieved.

This organic growth model focuses on small and medium-sized enterprises (SMEs). The spheres each describe a smart goal example.

The first two smart goal examples are written out and you can use them to write out your own goals so you can stay focused on building your business.

Smart Goal Examples of the Organic Growth Model for SMEs.

A Smart Goal Example

Get inspiration from successful examples in the world or home within 7 days

Getting inspired by successful examples of companies and their products worldwide or being inspired by business ideas from home is the foundation for your successful business and is the first major SMART goal.

  • Specific: The goal is to collect ideas from products that are already sold worldwide or to collect ideas that take place at your home and in your immediate environment. For example, by taking pictures of things that interest you or of things you already do yourself that make you happy.
  • Measurable: Every day of the week we make 1 collage of photos that we take of activities we do or we cut photos from magazines of products that make us happy.
  • Achievable: A week should be enough to gain inspiration and ideas to be able to choose the product from here to earn money.
  • Relevant: By choosing the product that inspires you, you can start working out all the strategic goals for building your business with enough energy.
  • Time-bound: The time limit of one week is enough to find the right product and get started with the rest of the strategic goals.

Example of a Smart Goal

Produce sample batches within 1 month

Producing samples of the product you want to make money from is an important SMART goal.

  • Specific: The goal is to produce product samples of the product that we want to monetize and to inform the market about our product and get them interested in buying our product.
  • Measurable: Every day of the week we will have 10% of the product samples ready to make sure it is available for distribution within a month.
  • Achievable: A month should be sufficient time to have the product samples ready to be able to approach a good cross-section of the target groups (intermediate) suppliers and end customers.
  • Relevant: By delivering product samples (which can be done for a small fee), the company is taking a first step in the market toward potential customers.
  • Time-bound: The time limit is one month and sufficient to have enough product samples available.

The advantage of implementing SMART principle goals is to make change management an easy process.

Useful tools on the Dragon1 platform include a template of a reusable business model canvas and a reusable strategy map

Wish you much success in your business!

Category: EA

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