The most critical component of a personal financial plan is setting goals. Goal setting requires establishing what dreams are most important to you, the family and the company, and how to use those dreams as the basis of smart goals.
Although for, smart goals (smart) mean something:
SMART is an acronym issue is the representation of: Specific, Measurable, achievable, Result Oriented and Timed.
- Specific: (Specific) themselves indicate what to do.
- Measurable, or measurable (Measurable) describe an amount of money or an action to be performed.
- Achievable (achievable) team members know and have agreed on what should be achieved, the goal to be achieved must be consistent with the resources available to it.
- Targeting a Result (Result Oriented): the goal to be achieved must be consistent with the resources available to it.
- With time (Timed) plans have a date set within which goals must be achieved.
The first task involved SMART is the preparation of a spreadsheet and professional goals and financial dreams, which is, in turn, a practical tool and an excuse for any member of a team feels to discuss what those goals and then engaging with them.
The definition of priorities is crucial as it will allow decide what to do first. Goals should not be too many, only two or three. And the strongest dreams will be also dictate priorities.
You have to be selective. The definition and registration of goals according to the SMART scheme are part of the implementation of the plan and a way to keep track of what is achieved and the time when that is done.
With the team assembled, surely all professionals and financial dreams may be to light. So among all fits it decides the importance of each dream and put them in order from smallest to largest.
When dreams are put on the table, which can be reached within a month they must be grouped in the category of short term. From that list, certainly extensive, two items are selected by group goals. And the same task must be performed with the list of goals for the long term.
Registration of items is the starting point for the development of the goals. Some of these will require resources, but other actions. Setting goals is an ongoing process: as well as a reach, you can start new ones.
We must not forget that economic and professional success does not come alone. It is important to build our decisions every day about: work, savings, contingency plans, and so on.