Goal Setting
Learning
Spiritual Career
Types of
Goals
Family Financial
Health
Time-Bound Goals
Desired
Quality of
Life
Long term
Goals
Intermediate
Goals
Short term
Hidden Goals
Goals
Lifestyle
Goals
Prioritizing Goals
• Health • Loans
• Job loss
• Death
Emergenci Liabilitie
es s
Responsibilit
Desires ies
• Holiday home • Home
• Exotic • Kids Education
Vacations • Retirement
Your goals should be…
S – Specific
▸ When setting a goal, be specific about what you want to accomplish. Think
about this as the mission statement for your goal. This isn’t a detailed list of
how you’re going to meet a goal, but it should include an answer to the
popular ‘w’ questions:
▹ Who – Consider who needs to be involved to achieve the goal (this is
especially important when you’re working on a group project).
▹ What – Think about exactly what you are trying to accomplish and don’t
be afraid to get very detailed.
▹ When – You’ll get more specific about this question under the “time-
bound” section of defining S.M.A.R.T. goals, but you should at least set a
time frame.
▹ Where – This question may not always apply, especially if you’re setting
personal goals, but if there’s a location or relevant event, identify it
here.
▹ Which – Determine any related obstacles or requirements. This
question can be beneficial in deciding if your goal is realistic. For
example, if the goal is to open a baking business, but you’ve never
baked anything before, that might be an issue. As a result, you may
refine the specifics of the goal to be “Learn how to bake in order to open
a baking business."
▹ Why – What is the reason for the goal? When it comes to using this
method for employees, the answer will likely be along the lines of
company advancement or career development.
▸ “S” actions may include:
Oversee Develop Reconcile
Update Provide Support
Write Manage Evaluate
Coordinate Create Direct
Upgrade Maintain Transition
Process Plan Produce
Supervise Implement Administer
▸ Note that this list does not include verbs like “improve,”
“reduce,” or “increase” (e.g. “Improve customer service”
or “reduce cost.” These imply the direction that you want
a result to move in, but don’t do much to explain the role
or specific action that you will take to accomplish this
M – Measurable
▸ As the “M” in SMART states, there should be a source of
information to measure or determine whether a goal has been
achieved.
▹ The M is a direct (or possibly indirect) indicator of what
success for a particular goal will look like.
▹ Sometimes measurement is difficult and managers and
employees will need to work together to identify the most
relevant and feasible data sources and collection methods.
▹ Data collection efforts needed to measure a goal can be
included in that goal’s action plan.
▹ Even if a perfect, direct measurement source is not
immediately feasible for a given goal, the discussion about
the desired end result (why this goal is important) and
what the measurement options are (what success might
look like) is an important and valuable part of performance
planning.
▹ Measurement methods can be both quantitative
(productivity results, money saved or earned, etc.) and
qualitative (client testimonials, surveys, etc.).
A – Achievable
▸ Think about:
▹ how to accomplish the goal,
▹ if you have the tools/skills needed,
▹ if not, consider what it would take to attain
them.
R – Relevant
▸ Relevance refers focusing on something that
makes sense with the broader business goals.
▸ For example, if the goal is to launch a new
program or service, it should be something that’s
in alignment with the overall
business/department objectives. Your team may
be able to launch a new program, but if your
division is not prioritizing launching that type of
new programs, then the goal wouldn’t be
relevant.
T – Time-Bound
▸ Anyone can set goals, but if it lacks realistic
timing, chances are you’re not going to succeed.
▸ Providing a target date for deliverables is
imperative.
▸ Ask specific questions about the goal deadline
and what can be accomplished within that time
period.
▸ If the goal will take three months to complete,
it’s useful to define what should be achieved
half-way through the process.
▸ Providing time constraints also creates a sense
of urgency.
Investment Process
Planning the
Need Implementing Performance
investment
identification strategy the plan Evaluation
Return on Investment
▸ Yield
▸ Capital Gain/ Loss
Systematic Unsystematic
Risk Risk
Sources of Risk
Interest Business
Rate Risk Risk
Inflation Financial
Risk Risk
Liquidity
Risk Default
Risk
Exchange
Rate Risk
Country
Risk
Thank You!
