It is estimated that over half of us (54%) will have made a New Year’s resolution this year, but how many of us are likely to achieve the goals we set?

Studies into New Year’s resolutions suggest that only a quarter of those that set a resolution actually achieve it. So, what does that quarter do differently to reach their goals?

In franchising, setting goals is vital and can help you focus on what is important, build motivation and, ultimately, help to achieve maximum results. Below are some hints and tips for setting goals that are achievable.

Goals - Setting yourself up for success

Create an Action Plan and Timeline

If you set yourself a goal but never set an action plan on how to achieve that goal you may be setting yourself up for failure. Having a clear and concise action plan and timeframe can help keep you motivated and track the progress you are making towards your goals.

Your action plan should include the overall goals and objectives and then all the steps that it will take to achieve the goals.

Adding a timeframe allows you to plan your workload accordingly and provides deadlines for you to work towards. A timeframe can create a sense of urgency, which in turn creates motivation meaning you are more likely to stay on track to complete your overall goal.

Set Priorities

You may find that you have more than one goal to work towards at any given time and therefore knowing how to prioritise tasks is important for managing your workload effectively.

Setting priorities within your goals allows you to easily determine which tasks should be completed first. Using timeframes and deadlines can also help you prioritise your workload.

The SMART method

S.M.A.R.T. is a mnemonic acronym, that encompasses may of these points into one straightforward method. It encourages you to break your goals down into statements of the important results you are working towards. Using this method means you can clearly outline your objective in a way that is not only manageable but attainable.

S – Specific

M – Measurable

A – Attainable

R – Relevant

T – Time-bound

How to write your S.M.A.R.T. goals

S – Specific

When you set your goal, you should be specific about what you want to accomplish. This section should look at who needs to be involved, what you are trying to accomplish and why you have set the goal.

M – Measurable

Here you should look at the metrics you are going to use to determine if you have met your goal. Doing this allows you to measure your progress and, if necessary, set milestones along the way.

A – Attainable

This focuses on the importance of the goal and what you can do to make it achievable. Here you can look at the skills and/or tools needed to complete the goal and assess whether time needs to be put into learning or improving the skills needed.

R- Relevant

When looking at relevance of your goal, it is important to look at the wider picture. For example, for within business you may look at whether the goal aligns with company objectives, if it doesn’t, then the goal may not be relevant.

T – Time-bound

Setting a realistic timeframe in which to achieve your goal increases the likelihood that you will succeed. You should ask specific questions about the goal deadline and what can be achieved within the time allotted. If your goal has a long timeframe, you may also want to break it down into smaller deadlines to achieve along the way.  

Stick with it

Nothing worth doing is easy. If you find yourself loosing motivation, looking back at your goals and the progress you have achieved so far may remind you of what you set out to achieve and, more importantly, why you set that goal in the first place.

Why setting goals is important when becoming a franchisee

When you research franchises, it is important to have your long-term goals in mind in order to find a business that suits your needs. These goals should focus on both the business aspects that you wish to achieve as well as lifestyle goals. Having a clear picture of what you are looking for can help to determine whether the franchise you are researching will allow you to meet your goals in the timeframes you have established.