It is time to switch from smart to FAST Goals

Many people, myself included have used the SMART goal framework to set both business and personal goals.  In the current uncertain environment, I feel it is time to switch to FAST goals instead.

Fast Goals are:

• Frequently Discussed,
• Ambitious,
• Specific, and
• Transparent

Frequently Discussed

In today’s current economic climate, there is a lot of uncertainty.  Your customer are uncertain.  Your staff are uncertain.  Your suppliers are uncertain.

And the only way to reduce this uncertainty is to make sure you are frequently talking to your customers, staff and suppliers.

By frequently talking to your:

• customers, both existing and potential, you can better understand how you can help them.
• suppliers, you can better understand how they can help you, help your customers.
• staff you can make sure everyone is engaged and aligned to deliver what your customers need now.

Ambitious

Ambitious goals help you to try a little harder.

Now right now, I am not talking about that Big Hairy Audacious Goal that is 3 to 5 years out.  Instead focus on the goals for the next 6 months.

And don’t forget, times of uncertainty bring about massive change.  And those who adapt will have the best chance of surviving and thriving in the future.

So, don’t just focus on a dollar goal.  Broaden your thinking to include:

• what you can do to innovate your existing business to improve performance.
• how you can pivot and transform your business to take advantage of new or different opportunities available to your business.

Specific

These are uncertain times and clarity of knowing what you are trying to achieve helps reduce that uncertainty for your customers, staff and suppliers.

If you can’t simply and accurately describe your goals, how can you communicate these to others.

Transparent

Transparency is key right now.

Be open and honest with your customers, staff and suppliers.

Secrecy, the opposite of transparency will create uncertainty, mixed engagement and misalignment.

Transparency will ensure everyone knows what is happening and where you are trying to get to.

Summary

If you want to survive and thrive in today’s business world you need to start operating under the framework of FAST Goals.

And don’t just think FAST.  Act FAST and increase the amount of communication you are doing with your customers, your staff and your suppliers.

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. Wayne may also be able to assist you in preparing any grant application. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

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Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052