My Experience Without Goals

During my initial move to Santiago, Chile, I found myself in a vibrant, new environment working for a prestigious global company. The organization had high expectations, and I quickly adapted to both my role and the Spanish language.

However, my focus waned as I became enamored with Santiago's nightlife, particularly in bohemian neighborhoods like Bellavista and Providencia. My proximity to my favorite bar, Flannerys, led to distractions that ultimately drained my savings, despite earning a higher salary than I had in Brazil.

Fortunately, I received a remarkable opportunity while still in Chile, which urged me to refocus my priorities.

Setting SMART Goals for My Future

Before relocating to the Middle East, I established clear short- and long-term objectives. By researching the cost of living, I realized that a frugal lifestyle could allow me to save enough money in three years to launch my own venture in a more serene location.

I committed to staying for a maximum of three years, diligently tracking my savings through an Excel spreadsheet. This newfound focus revitalized my motivation and transformed my lifestyle.

I became punctual and disciplined, dedicating time to both physical fitness and personal development. While my roommate Matteo doubted my resolve, I exceeded my financial goals well ahead of schedule, allowing me to enjoy life more fully.

As I began to relish new experiences, I faced a new dilemma: the temptation to extend my stay in Doha. Ultimately, I remained committed to my aspirations and returned to Poland to start my business.

Why Goals Matter

Setting clear objectives provides immense motivation, especially during challenging times. My aspirations kept me going through the sweltering heat of Doha and the pangs of homesickness. Goals offer direction and prevent one from losing themselves in distractions, as I did in Santiago.

Had I established measurable targets earlier, I would have prioritized rest over revelry. Unfortunately, I lacked a SMART framework, allowing my pursuit of fun to overshadow meaningful goals.

Creating SMART Business Objectives

To clarify, the proper acronym is S.M.A.R.T, denoting Specific, Measurable, Achievable, Relevant, and Time-bound goals. This approach parallels techniques like 5S in its potential to enhance business performance. Here’s a breakdown of each component:

• Specific: Clearly define what you aim to achieve, helping you and your team stay focused.
  • Questions to consider: What exactly do we want to accomplish? What milestones can we set?
• Measurable: Track your progress to maintain motivation and meet deadlines.
  • Questions to consider: How will we know when we have achieved our goal?
• Achievable: Ensure that your goals are realistic and attainable, providing a challenge without being out of reach.
  • Questions to consider: What resources do we need to achieve this goal?
• Relevant: Make sure your goals align with your overall business objectives and are worth pursuing.
  • Questions to consider: Is this goal meaningful for our business?
• Time-bound: Set deadlines to create urgency and a timeline for achievement.
  • Questions to consider: When do we expect to accomplish this?

Conclusion: Crafting SMARTER Goals

Defining clear goals is crucial for any business aiming for success. However, many entrepreneurs, especially in small businesses, struggle to articulate their objectives. A common response is, “I want to increase sales,” which lacks specificity.

Regardless of your company's size, the ability to set and achieve goals is vital. Adopting the SMART framework can accelerate your business's progress.

Remember, SMART goals should serve as tools to guide you toward your aspirations. They are not the end-all, and it's essential to remain true to your principles throughout this process.

Additionally, break larger goals into smaller, manageable steps and reward yourself for achieving them. This approach keeps motivation high and encourages a balanced approach to work and leisure.

For further insights into entrepreneurship, consider reading "All the Hows of a First-Time Business Owner: There is a thin line between bankruptcy and the freedom to be an entrepreneur."

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Levi Borba is the founder of expatriateconsultancy.com, creator of the channel Small Business Hacks, and a best-selling author.