The Goals (Medium to long term targets)and Objectives (short term targets) are a lot more detailed than your vision and mission statement. An important part of strategic business planning, they are specific statements of how you are going to achieve your vision. They will have time lines on them setting out the intended future results.
They are like stepping-stones on the road to your longer-term vision.
Time must be given to ensure these are in the correct order.
MEDIUM TO LONG TERM TARGETS
For example 5 to 10 years.
This is a detailed account of how you are going to achieve your vision. These are also used to measure the success of the business and provide a good gauge as to whether or not you are on track.
SHORT TERM TARGETS
For example 1 to 5 years
What the business needs to achieve in order to get to the longer-term result.
Initially these can be weekly targets - what do you need to do each week to achieve your first “longer-term result”. Remember, it is a detailed operating plan
Remember they should be SMART – Specific, Measurable, Attainable, Realistic, Timely.
Think about how you will achieve these targets.
For example: “To do the best I can” is not measurable, how would you measure “best”
A more realistic target would be “To make 100 sales in the first year” this is specific and measurable. You will need to use your judgement as to whether they are realistic and thus attainable.
