How CRE Brokers Can Benefit From SMART Goals
As a commercial real estate professional, setting goals for your business can mean the difference between having an average year and an exceptional year. Studies show that people who are intentional about their goals are more likely to achieve them. It reminds me of the quote “if you shoot at nothing, you’ll hit it every time.” Without setting goals, you don’t have a specific target to aim for. SMART goals is a technique used to be specific about your goals setting in order to achieve your desired results. Let’s take a look at how CRE brokers can benefit from SMART goals:
What Are SMART Goals?
SMART is an acronym that stands for Specific, Measurable, Attainable, Relevant, and Timely. We’ve all set goals for ourselves that were too vague, so using this method can help you developed detailed goals. Let’s dive in to how this works:
- Specific: When writing down your desired commercial real estate goals, be as specific as possible about what you hope to achieve.
- Measurable: How can you measure your milestones on the way to reaching your goal?
- Attainable: Having big goals is admirable, but are your goals attainable within the timeframe that you’ve allocated? If your goal is too big, consider breaking it down into smaller goals so you stay motivated along the way.
- Relevant: Every goal you set should somehow work together to align with your long-term vision. Think about your broader career objectives and make sure your goals are relevant and necessary.
- Timely: Set a time-frame with a specific end date for each goal. This will help you to stay on track, prioritize your time, and know when you’ve reached the finish line for each goal.
Setting SMART Goals
As a CRE professional, the possibilities are endless when you set SMART goals. When you’re making your goals specific about what the goal is, why you are setting it, who is responsible for making it happen, where it will take place, and any requirements that need to happen in order to achieve the goal. When it comes to measuring your goals, think about how you will know if you reached the goal, and how will you quantifiably measure your success. Setting an attainable goal means that the goal is realistic and within your power to accomplish. Relevant goals are worthwhile to pursue, aligned with your vision, and important to your overall success. Lastly, timely goals will keep you on track. Do you plan on accomplishing your goal in one month, six months, or a year?
Revise Your Goals If Needed
We all know that life happens, and sometimes things you can’t control will impact your goals. Most of the time, you can change the timeline if needed. When making SMART goals in the commercial real estate industry, remain flexible and revise when necessary. Don’t give up on your goals, instead break them into smaller pieces so you continually move forward.
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