Plan your Coffee Shop Business with SMART Objectives

For your coffee shop business to be successful you have to plan every element of your new enterprise. The more detail you can include in your plans the better, as these will ultimately guide how you start, operate and expand your coffee shop in the future.

Setting yourself goals and objectives is an ideal way of ensuring you know precisely where your coffee shop is in its planning and development. Objectives also give you a target to aim at and a way of evaluating how well – or not – you attained your objectives. This gives you feedback that can help you improve your business skills. One of the best ways of assigning goals is by using the SMART system.

SMART Planning

Using the SMART (Specific Measurable Achievable Relevant Realistic) Time-bound) system is a platform you can use to design, implement and then evaluate every objective you have set your business. The SMART system is particularly useful when you are planning your new business as it can support your business plan by providing detailed quantifiable objectives you need to meet before your business starts to trade.

Specific
If you are to achieve the goal you are describing in your SMART analysis you must clearly define that goal. Try and describe what you want to achieve in as much detail as possible. The idea is to break down an objective into manageable – and achievable – components that you can work on in sequence. The more concise you can be with your description the better.

Measurable
How will you know when you have achieved the goal outlined above? You must devise a mechanism that will show you when you have achieved your stated objective. The measurement techniques you use should be able to show you your progress towards your objective so you can instantly see if this was efficient, or your systems need more efficiency building into them.

Achievable
Clearly if you are to achieve your stated objectives you need to be realistic about the goal itself as described under Specific. It is pointless setting an unrealistic goal. This will damage your moral and also not motivate the people that will ultimately deliver your SMART objectives. Try and be realistic with what can be achieved with the resources you have available.

Relevant
The SMART objectives that you set should be related to the people or organisations that will help you achieve your goals. For instance, it’s not relevant to ask your marketing agency to look at sourcing machinery for your business, as it is not relevant to them. When you are describing your objectives think about how reach component is relevant to the people or organisations you intend to give the task to. Ask yourself if the people or organisations have the knowledge and skills to deliver the objective. The Relevant section of SMART is closely linked to Achievable.

Time-bound
Time is has always been the enemy of the small business owners. There never seems to be enough hours in the day. Putting a realistic timeframe on your SMART objectives is very important as this will feed back into your business plan that may need the results of several SMART objectives before it is ready. Think carefully about a realistic amount of time that an objective will take to complete.

Planning a new business will require what can seem like a mountain of data that is impossible to climb. This where SMART is very useful, as you can break down the data you need into manageable sections and assign each a SMART-based objective. As you move through the SMART process you’ll discover that you now have all the data you need to plan in detail every aspect of your business.

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