The SMART formula is a 5-step strategy to clearly define, plan, and achieve (learning) goals. It was introduced by Peter Ferdinand Drucker, a U.S. economist and a pioneer of modern management theory. The SMART formula is an acronym used in project management. The letters stand for the following criteria:

Below, each letter is explained with an example:

Specific

If you describe a goal vaguely, you're unlikely to achieve it. The goal must be clear and precise.

Example: Tim wants to attend a training course. He planned this two years ago but never chose a specific course or set a timeline. Now, he found a course that interests him. He marked a deadline in his calendar for when to enroll and when it takes place.

Measurable

You must be able to check if you've reached your goal. This means the goal should be verifiable with data and facts.

Example: The training course Tim wants to attend ends with an exam. Once he passes, he receives a certificate. To pass, he needs to answer at least 70% of the questions correctly.

Attractive/Acceptable

The goal should be appealing and acceptable. You should associate it with positive feelings and thoughts. This boosts excitement and motivation to achieve it. Goals should be formulated to appear desirable.

Example: The training course Tim booked can advance him both professionally and personally. That's why he's excited about it and feels positive.

Realistic

Goals must be realistically achievable. Setting goals doomed to fail leads to demotivation and negative thoughts. It's important to set achievable goals. Assess all available resources (time, money, motivation, talent) realistically.

For large or long-term goals, setting smaller milestone goals can help.

Example 1: Since the training requires a lot of time, Tim discussed with his employer to reduce his work hours during the course. Without this, he might not have managed due to his busy work schedule, leaving too little time (resource) for the course. This makes his goal more realistic.

Example 2: Tim's training course is the first step towards a big goal. He will need to take several more courses to reach it. But he's excited about the challenge and happy to have started.

Time-bound

Goals need a specific date or deadline. Setting a deadline increases the chance of achieving it. A fixed date in the calendar boosts motivation and determination.

Example: After neglecting his plan for years, Tim is now happy to have a clear goal. He set a deadline for when he wants to achieve it. He also has a timeline for his milestones. Now, he can tackle his goals in a structured and well-prepared way.

Examples of Goal Setting with the SMART Formula

To get the promotion, I will complete the Train the Trainer (IHK) course with certification by 12/31/2022.

To execute the planned USA expansion, we will increase our revenue by 10% to 11.7 million euros by 12/31/2022.