SME Tips Uncategorized

Smart Goals

Small businesses tend to interact with their audience more directly, and on fewer fronts than corporations. Although you may have fewer resources, small businesses have many advantages if used wisely. Creating SMART goals to connect with your audience can make all the difference.

What are SMART goals?

The SMART acronym stands for goals that are specific, measurable, achievable, relevant, and timely. They are impactful for business marketing strategies, project management, and overall growth because they encourage you to look into your market and evaluate how your business stacks up. It provides a model to identify strengths, track progress, and have room for improvement.

Here’s a more detailed SMART goals definition:


Having a clear, specific outcome in mind is key to making a SMART goal. Making a specific goal means that you can narrow your focus—whether this is on marketing, data collection, sales, or customer relationship management—and get a concise picture of exactly what you want to achieve and thus, what steps you should take to accomplish this goal.


When you set goals, it’s important to make sure you know what metrics you will use to evaluate whether and when you’ve met your goal.

Measurable goals and objectives can be quantitative, like how many returns or outputs you receive or produce; or they can be qualitative, based on the quality of those same returns or outputs.


It’s important to prioritize achievability when you set business goals. This isn’t to say you shouldn’t dream big, but a goal that you can take feasible steps towards will tell you more about the nature of your business, the way you run it, your customers, and the goal itself, rather than working towards something outside your capacity. By defining achievable goals, you’re also allowing yourself to experiment with what works best for reaching this goal, based on your measurements.


Relevancy, in the case of SMART business goals, refers to the pertinent characteristics of your business. Most businesses want to attract a bigger audience and increase their revenue, of course, but relevant goals help you identify what you will do specifically to grow your business. If you run an online magazine, for example, a relevant and time-bound goal is to increase the number of monthly subscribers by 25% this quarter. Subscribers are relevant to the success of your business, and thus the goal meets SMART criteria.


Having a timeframe for when you want to achieve your goal makes the process of planning and executing clearer and more organized. A deadline can be a powerful motivator, and it will help your team work together towards a clear finish line and better time management. Plus, working towards timely goals can give you insight into a certain time of year or the seasonality of your business, which might inform future goals.

Why are SMART Goals Important?

Why is being SMART important, and where does it factor into your small business plan?

SMART goals offer small business owners actionable steps towards improvement, measurable outcomes, and ultimately, scalable success.

Vague goals (like, “Find more customers”) can leave business owners feeling over-extended without a clear focus, or unsatisfied without substantial evidence of achievement.

Actionable, achievable goals, that are relevant and timebound, with measurable outcomes are crucial for surviving the inception years of your new business. They can lead to sustainable growth and innovation throughout the life of your company or your career development.

How to set SMART goals

You can start writing your own SMART goals in a few ways:

  • Use the SMART acronym as an outline. Write down a goal, then break down how the goal is specific, measurable, achievable, relevant, and timely. Provide details about your goal for each letter in the acronym. You can use a list format, a flow chart, or an outline—whatever keeps your thoughts organized and helps to reach this goal.
  • Use a past/present/future question model. Ask yourself questions like: What have I already done? What is the current outcome? Where do I want to be at the end of this month/quarter/year? Although this model prompts you to look to the future, make sure to keep the goal time and focused.
  • Use marketing software data. Marketing software can provide a foundation to set SMART goals. SMART goals are based on the quantitative data you’ve already collected. Remember, the data itself is only a starting point; its usefulness is determined by what you do with it.

Use this SMART goal framework that will help you to definitely a better action plan with the steps you’ll need to take, resources necessary to get there, and milestones to track progress along the way. With SMART goals, you’re more likely to achieve your goal efficiently and effectively.

Small business goal examples

Let’s take some common small business goals and make them SMART:

  • “Build more customers” vs. “Secure 6 new business accounts before the end of the quarter.” Six is specific, securing new accounts is relevant to the ultimate goal of the business, having a quantitative goal correlates to measurable success, it’s small enough to be achievable, and “end of the quarter” is timely.
  • “Make more profits” vs. “Increase revenue 10% each quarter until the end of the fiscal year.” 10% is a specific, measurable amount that’s relevant to the goal of increasing overall profits. It puts “increase revenue” into achievable terms, and using quarters of the fiscal year is time measurement.

SMART business goals are about building focus, deepening relationships with your audience, achieving your goals, and improving your strategies as you grow. By using the SMART framework, you can improve your business operations, and project management and start achieving the goals that matter most.

You can also write SMART goals for personal use, goals that can help you in your career development and achieve the success you want. Using the SMART goal framework can organize the process and provide structure before you begin any projects for your small business.

SME Tips

Business Growth Strategies for Small Businesses

Image deoicting a business growing


For any business to survive and stay in existence for a very long time, the idea of growth must be fully embraced. Business growth is a term used to describe the point at which a business expands its customer base, product line, investments, and other factors that contributes to its success.

Although it is believed that every business owner loves to see their businesses grow but not all of them know the strategies to utilize in order to see this become a reality. Therefore, to grow your business, here are a few strategies you should consider using:

1. Hire the Right Team

The process of hiring is such that shouldn’t be done hurriedly if a business must grow. Consequently, with the right set of people on your team, your business would grow. They should know and embrace your goals. With that, they would be committed to bringing in ideas.

2. Use Good Social Media Strategy

We are in the 21st century and the majority of consumers are familiar with the social media space. Therefore, you must utilize good strategies that would capture their attention while on social media. For instance, it has been discovered that videos tend to increase the visibility of any page, therefore, posting more videos on your page would be a good strategy to employ.

3. Expand Product line for Profitability

Expanding your product line would help you make more profits. For instance, if you sell clothing, it wouldn’t be a bad idea to add footwear to your brand line since they go hand in hand. By so doing, rather than having clients pay for only clothes from you, they’ll pay you more when they are able to get more than clothes from your store.

4. Use quality Prints

The importance of prints can never be over-emphasized. You should use prints like flyers, business cards, brochures, and lots more to increase awareness of your brand. Don’t forget that their quality will reflect the quality of your products and services.

5. Partnerships

Partnering with other brands whose products are in sync with yours would make your business grow. By so doing, you get the attention of their audience and this could generate good leads. So, it’s a win-win situation.

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SME Tips Startup Advices

7 Reasons Why You Need a Business Plan

An image showing the different concepts involved in writing a business plan.

Whether you’re starting a small business or searching for ways to expand an existing one, a business plan is an important tool that would guide you all the way. This is a written document that outlines the short and long-term goals, financial and operational objectives of a company, and how it hopes to achieve them.

SME Tips

Significant ways to promote your business using social media marketing.

In recent times, social media marketing has become an absolute must for most businesses.
Today, we will be sharing with you significant ways to promote your business using social media.
SME Tips

How to support small businesses

How you can help small online businesses to grow 

In recent times, many people have evolved from working a 9-5 job to owning their own businesses. Starting from a small scale and growing into large firms.

These large businesses we see everywhere started from being small businesses and with lots of factors and support in place, they grew and expanded.

So, other than patronizing small businesses, there are other easy ways you can help them grow.

how to support small businesses

Below are ways you can help small businesses grow


1. Share their posts

When you see a small business, and you decide to share or repost their business, you are contributing to helping the small business get awareness and this will allow more people to know about the business and also help the business grow.

2. Like and comment on their posts on social media

Little things like dropping a comment and liking a post you see on social media can help a small business grow because it makes their products appear on other people’s pages too and in your own little way you’ve helped their business.

3. Tell the world about their business 

Sharing does not have to happen on social media alone. Referring to a friend and telling the people around you about a business is also a great way to help small businesses grow.

4. Share your testimonies

When you patronize a small business and you liked their services it would go a long way if you tell them how much the services they provided helped you so they can always have reviews to go back to. 

5. Privately tell them about their faults

Also, share the negative reviews in their personal dm so they can make changes. By doing this you are protecting the name of the brand and also giving room to change unlike when you put it out there and others won’t even want to give such business the benefit of the doubt or even patronize them ever again.

6. Pay full price 

A lot of small businesses we know are owned by people we know and we shouldn’t take this as an opportunity to always ask for a discount because if you keep doing that it will affect the profit of the business and also affect the growth of the business. 


All these are a few of the ways you can help a small business grow.

Oya, head on to our social media pages and start implementing what you have learned.