A Goal Without A Plan Is Just A Wish
Happy New Year! My name is Elaine Simpson, founder and president of Occupancy Solutions LLC, a full-service property management training and consulting firm. I am excited to announce the launch of Multi-Family Minute. This is a monthly B2B eNewsletter that provides quick tips, antidotes, suggestions and stories focusing solely on the property management industry.
It’s a brand new year, a fresh start and you and your management and leasing teams are getting ready to set new goals for the coming year… what a great feeling! Even though many of us set goals, we don’t know how to set achievable goals and thus we struggle or even fail at attaining our established goals. This happens because we have not made a proper plan for success and a goal with out a plan is just a wish!
Over the years I have learned that in order to achieve my goals, S.M.A.R.T. Goals must be set. What are S.M.A.R.T. Goals you ask? Here is a brief overview to help you start the year off with a plan!
Set specific goals because they have a much greater chance of being accomplished than general goals. To make a goal specific, it must convey exactly what is expected, why it’s important, who’s involved, where it’s going to happen and which attribute is most important. An example of this: A general goal would be “rent more apartments” and a specific goal would be “lease 10 apartments in the next two weeks.”
Establish concrete criteria for measuring progress toward attaining each goal you set. Measuring your progress helps the team stay on track, reach their target date(s), and experience the exhilaration of achievement that will help spur them on to reach their ultimate goal. Indicators in a measurable goal should always be quantifiable.
Do not set a goal that is too extreme, instead set an attainable goal that will challenge the team, otherwise it may be considered meaningless. When you identify a goal that is most important to you and your team, everyone involved will begin to figure out ways to accomplish the goal.
To be realistic, a goal must represent objectives towards which you and your team are willing and able to work. When setting a realistic goal, you must be sure that the timing is right, the proper people are in place, the goal is aligned with other efforts and it is applicable within the current environment.
A goal should be grounded within a certain time frame. A commitment to a deadline helps a team focus their efforts on completion of the goal on or before the due date. Time-bound goals are intended to establish a sense of urgency. This will allow the team to properly schedule their time more effectively.
Using these S.M.A.R.T. Goals will assist you in planning, organizing and achieving your growth objectives.