4.4.5 How to Build a Plan
2. How to create a plan
Goals should be clear and involve deadlines to be effective.
Effective goals are summarized by the acronym SMART:
Specific: Your goal should be stated clearly: e.g. 'I want to increase the turnover of 15% within 2 years, by establishing partnerships and alliances in the American market', rather than, 'I want to make my company more profitable'.
Measurable: You need to quantify your goal to know when your objectives will be achieved. See the example above.
Attainable: Goals should be challenging, but not over exaggerated, they should be realistic and ambitious.
Relevant: Goals should aim at improving a current situation.
Time: Set a range of time to establish better working criteria, e.g. in 2 years, in 4 months. This gives sensation of closeness and makes objectives more tangible.
An advantage of setting plans, is that they suit for both large and small businesses.