Wednesday, January 7, 2015

Being SMART With Goal Setting

It's a new year and you may be looking back at your year in business and developing new goals (or revamping the ones you already have).  Let's talk about goals and setting those that are specific, measurable, attainable, realistic, and timely.

Which ones are SMART goals?

1. I want to make more money in 2015.
 or 2. I want to make $40,000 in 2015.

3. I want more clients.
or 4. Double my current clients in six months.

5. I prepare in advance for holiday promotions.
or 6. I schedule 2015 marketing and promotions 2 months in advance for each holiday.

Your answers are 2, 4, & 6.

Let's break each one down.

GOAL: I want to make $40,000 in 2015.

S - Specific
This goal is specific.  You want to make a specific amount of money in a specific amount of time ($40,000 in 12 months).

M - Measurable
You can break this goal down each month to figure out what your income should be and measure throughout the year.  $40,000 / 12 months = $3334 income needed per month.  Some months will be a little less, some months will be a little more, but you are able to measure this goal throughout the year and adjust your projections if needed.

A - Attainable
Are you able to attain this goal this year, or does it seem out of reach?  Your goal should be challenging enough to push you.  If you made $40,000 last year, you may want to increase the amount of this goal.  If you made $5,000 last year, maybe you will decrease this goal a bit to make it attainable for you.

R- Realistic
If you are just starting out as a massage therapist, this may not be a realistic number, but it can be.  It all depends on your situation and if you are working on your own, or for someone else, and what clients are paying for their massage.  It also depends on if you have other streams of income.  Here is where you answer the question: How can I accomplish this goal?
Possible answers:
Adding retail to my practice.  Expect to sell $______ (insert goal amount) each month.
Gaining new clients.  Get 10 (or however many you need to reach your goal) new clients each month.
Up sell current clients. Up sell 5 clients a month to 90 minute services instead of 60 minute services.  Up sell 10 clients a month to Hot Stone massage.
Increase your prices

T - Time
 This goal will be reached by end of year.

GOAL: Double my current clients in six months.

S - Specific
 Know how many clients you currently have, and double that amount.  You want it to be doubled in 6 months time.

M - Measurable
Each month you can calculate how many clients you worked on, how many were returning, and how many are new.

A - Attainable
If you only have 1 client a week and it doubles to 2 a week, this goal is attainable, but much too easy.  If you have 15 clients a week, and want to double it to 30, it will be more difficult to attain.

R- Realistic
How will you double your clientele?  Will you increase your word of mouth referrals?  How?  Will you fine tune your target marketing efforts?  What will you do to increase your current clientele?  Will you increase your networking opportunities to get referrals from other businesses?

T - Time
 This goal should be completed by July.

GOAL:  I schedule 2015 marketing and promotions 2 months in advance for each holiday.

S - Specific
For the year 2015, you will be looking 2 months ahead to have marketing and promotions in place for each holiday.

M - Measurable
Each month look ahead to the following three months to plan out your course of action.

A - Attainable
If you plan your time, this goal should be attainable very easily.  Set reminders in your calendar.

R- Realistic
How will you achieve your goal?  Will you be using a mix of online and print marketing?  Will you use social media outlets and which ones (Facebook, Twitter, Pinterest...)?  How many emails will you send out to your clients each month?  Will you design your own advertisements, or pay a graphic designer?  How much time will you be spending each week on marketing?

T - Time
 This goal will be reached each month as it is broken down by holidays.

Does goal setting make sense to you now?  What are your goals for 2015?  Make sure they are SMART ones. Share yours by commenting below, or in the Massage Marketing Toolbox Facebook group.

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