Management and Marketing

I’m amazed how much money people are given in their marketing budgets with goals like ‘increase the Company’s revenue’. Managers must have money to throw away! No goal is worth setting unless it is a SMART goal.

SMART stands for : Specific – Measurable – Attainable – Realistic – Timely.

My number one rule for setting goals is not to pluck them out of thin air – look at current figures and trends to find realistic goals. You should always aim to beat what would happen, had you not embarked on the project.

Specific – A specific goal has a much greater chance of being accomplished than a general goal. To set a specific goal you must answer the six “W” questions so far as they are applicable:

• Who – Who is involved?
• What – What must be accomplished?
• Where – Identify a location
• When – Establish a time frame
• Which – Identify requirements and constraints.
• Why – Specific reasons, purpose or benefits of accomplishing the goal. (more…)