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Your business plan may sound smart, but does it meet the S.M.A.R.T. model for business goals? Learn more about this model and find out how to check your S.M.A.R.T. status with your trusted team at Rafael Marrero & Company.
The S.M.A.R.T. Model
Originally developed by George T. Doran in 1981, S.M.A.R.T. is an acronym for key features in creating a solid business goal. Here are the five features Doran identified as necessary in the S.M.A.R.T. model:
- Specific:State a particular goal or area that you wish to improve.
- Measurable:Include an indicator of progress or a way to quantify your progress toward your goal.
- Assignable:Name the person or persons who will do the work to accomplish the goal.
- Realistic:Be realistic in terms of the amount of progress that can be made toward the goal.
- Time-related:Put a time limit or time frame on the goal to create a sense of urgency or forward momentum.
These five features have been used extensively to create and accomplish goals worldwide. As a business-to-government contractor, you can use them to establish clear goals for your company.
Your S.M.A.R.T. Business Plan
One way to leverage the S.M.A.R.T. model is to use it to build a strong business plan. As part of your federal branding strategy, be sure your business plan includes the five features of the S.M.A.R.T. acronym.
This gives you a business plan that offers specific, measurable, assignable, realistic, and timely goals to grow your small business. Whether they’re small goals like becoming SAM registered or larger ones like identifying the top five federal agencies you wish to work with, a S.M.A.R.T. business plan can help you grow your small business.
How to Check S.M.A.R.T. Status
Whether crafting your capability statement or a traditional business plan for your small business, find out how to check the S.M.A.R.T. status of your plan by asking these questions:
- What is the goal that I need to accomplish?
- How will I know when the goal is accomplished or close to being accomplished?
- Who needs to do the work in moving toward this goal? If the goal isn’t achievable by me, what can I do to promote it?
- Is this plan realistic for the company?
- Can the company reach this goal?
- How long will it take to reach this goal?
Consider connecting with an expert in your industry to learn more about realistic goals for your team. Dr. Rafael Marrero is a nationally recognized federal contracting expert who can help you evaluate your existing goals, edit your business plan, and recommend steps to grow your business.
Move Toward Your Business Goals With Rafael Marrero & Company
Whether you’re considering federal contracting for the first time or are a well-established business-to-government contractor, learn more about how to check your S.M.A.R.T. status today. Contact us at Rafael Marrero & Company to revise your business plan, improve your federal branding, and prepare to achieve S.M.A.R.T. goals.