So what are goals? Goals are outcomes you want to achieve or aspects of your business that you want to improve. For example, say your brand is universally recognized in North America; you may want to build similar mindshare in Europe. You may want to lift your sales by 30%. You may want to become the biggest reseller of wing nuts in the world.
Not all goals, however, are good goals. To set ones that work, we rely on a specialized version of one of the oldest business goal frameworks around: SMART. The basic idea (though not the acronym) first appeared in Peter Drucker’s 1954 classic The Practice of Management. It states that goals should be specific, measurable, achievable, relevant, and time- bound.