January's Hot Topic
New Year, New Goals: How to Set SMART Business Resolutions That Stick
As the New Year begins, it’s a natural time for reflection and planning. For entrepreneurs, the dawn of a new year offers an opportunity to refocus, set meaningful goals, and create strategies to overcome unique challenges. But how do you ensure your resolutions don’t fade by February? By setting SMART goals — Specific, Measurable, Achievable, Relevant, and Time-bound — you can chart a course for sustainable success in your business.
Here’s how to apply the SMART framework to your entrepreneurial journey:
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Specific: Define Clear Objectives
Your goals should be well-defined and precise. Avoid vague resolutions like “I want to grow my business” and instead identify exactly what you want to achieve.
Example: If you own a catering business, a specific goal might be: “I want to increase my customer base by partnering with three local community organizations to provide event catering.”
A specific goal gives you a clear direction and makes it easier to outline the steps needed to achieve it.
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Measurable: Track Your Progress
A goal without metrics is like a journey without milestones. Adding measurable components ensures you can track your progress and stay motivated.
Example: Instead of saying, “I want to increase sales,” aim for something measurable: “I want to increase my monthly revenue by 20% by the end of June.”
Tracking progress helps you identify what’s working and where adjustments may be needed. Use tools like spreadsheets, accounting software, or even simple journals to document your progress.
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Achievable: Stay Realistic
While it’s great to dream big, setting unattainable goals can lead to frustration. Consider your current resources, time, and constraints when crafting resolutions.
Example: If your business operates with limited staff, aiming to double production in three months might be unrealistic. Instead, you could aim to improve efficiency by implementing one new productivity tool or workflow by the end of the quarter.
Breaking larger goals into smaller, achievable steps can help maintain momentum and build confidence.
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Relevant: Align Goals with Your Vision
Your goals should align with your broader business mission and the specific needs of your community. Entrepreneurs in underserved areas often face unique challenges, such as limited access to funding or high competition. Tailoring your goals to address these issues ensures they remain meaningful.
Example: If your mission is to provide affordable childcare, a relevant goal might be to expand your services to include evening care options for parents who work night shifts.
When goals align with your values and community needs, you’re more likely to stay committed.
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Time-bound: Set Deadlines
Without deadlines, goals can linger indefinitely. Assigning a time frame creates urgency and helps prioritize tasks.
Example: Rather than saying, “I want to launch a new product,” say, “I will launch a new product line by October 1st.”
Break your timeline into smaller milestones to ensure consistent progress. For example, plan to complete research in January, finalize designs in February, and begin marketing in March.
Ready to set your SMART goals for the year? Here’s a quick action plan to get started:
Reflect on your business’s successes and challenges in the past year.
Write down three key areas you want to improve or grow.
Use the SMART framework to define one specific goal for each area.
Identify the first step you can take toward each goal and set a deadline for it.
Share your goals with a trusted friend, mentor, or peer for accountability.
How Sunshine can help our alumni reach their smart goals
Help Desk
The Help Desk is a referral service that connects SE clients with qualified and certified professional service providers who can provide business and consultation service support to assist them with their business needs and challenges. SE provides financial assistance, through an equity grant, to help small business owners access these services. Professional services include, but are not limited to, accounting, legal, website development, graphic design, printing, videography, photography, and social media.
90-Day Coaching
Our 90 Day Action plan coaching is one of the core tools we use to help CBA alumni as they start, grow, and expand their businesses. 90 Day Action Plan coaching is an intensive program built to assist clients in achieving tangible and realistic business outcomes in a time-bound fashion. This program helps alums set goals, and create a plan on how to reach them — all during one-on-one sessions with an experienced business coach.
Grand Opening or Special Event Support
At Sunshine Enterprises, we understand how important grand openings & special events are to a small business and we’re here to support you every step of the way. By filling out our Grand Opening / Special Event Assistance Request Form, you’ll help us tailor our assistance to your unique needs, ensuring your grand opening or special event is a resounding success. We’re excited to work with you and can’t wait to help you make a lasting impact in your community!
Access to Capital
To grow your business to the scale you envision you will need to access capital. At the end of the day each business functions as a device which through its operations moves it pool of capital into its operations producing each time a growing pool that benefits owners, worker, and shareholders. Capital can be a crucial tool to help you invest in equipment, a infrastructure project. software, or staff to scale up your business. Without knowing what lenders and investors are looking for though the search for financing becomes more difficult. When you take advantage of the Access to Capital program you’ll be paired with a Sunshine business coach to work one-on-one, identifying the source of funding that best suits your interest and developing a plan to secure that need.