Now that you’ve established your why, it’s time to channel that energy into clear, actionable goals. Goals give you something concrete to work toward, turning your vision into reality. However, not all goals are created equal. To truly make progress, your goals need to be SMART—Specific, Measurable, Attainable, Relevant, and Time-bound.
Let us break down what each of these components means and how you can apply them to your side hustle.
1. Specific: Be Clear on Exactly What You Want to Achieve
A specific goal is one that is clearly defined, leaving no room for ambiguity. When you set a goal, you need to answer who, what, where, when, and why. This is important because a vague goal like “make more money” or “grow my business” is hard to measure or execute. Instead, define exactly what you want to achieve.
Example of a vague goal:
· “I want to make more money from my side hustle.”
Example of a specific goal:
· “I want to generate $500 in extra income each month from freelance writing by the end of the next quarter.”
This goal is clear. It tells you what you want to achieve (generate $500), how you’ll achieve it (through freelance writing), and the time frame (by the end of the next quarter).
Actionable Tip: Before setting any goals, ask yourself, “What exactly do I want to achieve?” Be as specific as possible so that you have a clear target.
2. Measurable: Define Success
Once your goal is specific, the next step is to make it measurable. In order to track progress, you need a clear way to measure success. Without measurable markers, you will not know when you’ve reached your goal or how close you are.
Tracking success could involve numbers, like sales figures, clients acquired, or hours worked. It could also include qualitative indicators, like customer satisfaction or personal growth milestones. Whatever the case, ensure you have a way to gauge progress along the way.
Example of a measurable goal:
· “I want to sell 100 units of my handmade jewelry each month.”
This goal is measurable because you can count the number of units sold. It’s easy to track whether you’re at pace to meet or exceed your goal.
Actionable Tip: For each goal you set, identify how you will track progress. If your goal is financial (like making $500 per month), track how much income you earn each week or month. If it’s related to growth (like launching a website), monitor your website traffic or number of email subscribers.
3. Attainable: Be Realistic
It’s great to dream big, but your goals should also be realistic based on where you are now. Setting overly ambitious goals can lead to burnout and frustration. Instead, make sure your goals are challenging yet within your reach, considering your resources, skills, and the time you have available.
For example, if you’re just starting out with your side hustle, setting a goal to make $10,000 in your first month might be too much. However, aiming to make $500 or $1,000 in your first few months is more attainable.
Example of an attainable goal:
· “I want to gain five new clients by the end of the next two months through networking and referrals.”
This goal is realistic based on your current ability to network and the time you must commit to outreach.
Actionable Tip: Review your goals to ensure they are both ambitious and achievable. Break large goals down into smaller, more manageable chunks. If you’re aiming to create an online course, set incremental goals like researching course topics, drafting content, and creating promotional materials.
4. Relevant: Align with Your Bigger Picture
The most effective goals are aligned with your overall vision and personal values. When you set a relevant goal, it should be a direct contributor to your long-term aspirations. If a goal doesn’t serve a clear purpose or isn’t connected to your “why,” it could distract you from your bigger picture.
For example, if your larger goal is to eventually replace your full-time job with your side hustle, a relevant goal would focus on growing your client base, refining your product, improving your marketing efforts, anything that supports your transition to full-time entrepreneurship.
Example of a relevant goal:
· “I will focus on increasing my social media following by 30% in the next three months, which will help build my brand and attract more clients.”
This goal is relevant because growing your social media will help you attract customers and clients, directly supporting your ultimate goal of building a profitable business.
Actionable Tip: Take a step back and evaluate whether each goal is aligned with your broader aspirations. If a goal doesn’t directly contribute to your larger vision, reconsider or adjust it to ensure relevance.
5. Time-bound: Set a Timeline
Goals without deadlines can easily fall by the wayside. A time frame helps you stay focused, creates a sense of urgency, and motivates you to take action. Deadlines can be weekly, monthly, or even yearly, but they need to be clear.
Example of a time-bound goal:
· “I want to launch my online store within the next 60 days and make my first sale within 30 days of launching.”
The deadline creates urgency and ensures that the goal does not just sit in the background. You have a clear window in which to accomplish your tasks, and that can push you to stay disciplined and avoid procrastination.
Actionable Tip: Set deadlines for all your goals. Even if you are not sure you can meet them, having a target date will help you pace yourself and prevent you from dragging your feet.
Breaking Down Big Goals into Smaller Tasks
One of the biggest challenges in achieving a goal is breaking it down into manageable steps. Large goals can feel overwhelming, but by dividing them into smaller tasks, you make them easier to tackle and track.
For example, if your goal is to launch a product in six months, you can break it down into monthly milestones, such as:
· Month 1: Research suppliers, finalize product design, create a budget.
· Month 2: Develop branding, build your website, create product listings.
· Month 3: Market your product on social media, get feedback from potential customers, adjust the product based on feedback.
· Month 4: Order inventory, set up online payment systems, prepare for launch.
· Month 5: Launch product to a small audience, gather reviews, refine marketing strategy.
· Month 6: Full product launch, focus on increasing sales and customer satisfaction.
By breaking the large goal into smaller, digestible tasks, you can focus on completing each piece rather than feeling overwhelmed by the result. These smaller tasks are also easier to measure and track, helping you stay on course.
Actionable Tip: For each big goal, create a roadmap with monthly, weekly, or even daily tasks. Each task should move you one step closer to your desired outcome.
Conclusion: Set Yourself Up for Success
Setting SMART goals is not just about writing things down—it’s about creating a structured approach to achieving your dreams. By being specific, measurable, attainable, relevant, and time-bound, you lay the groundwork for consistent progress. And remember, as you hit milestones and make steady progress, celebrate the small wins! Each step forward is a victory, bringing you closer to your ultimate vision.
Start with one or two goals that excite you the most, then work your way through your roadmap with focus and intention. Don’t forget to review and adjust your goals regularly to keep them in line with your evolving plans.
Now, it’s time to get started. Your side hustle success is waiting!
