Unlike those born privileged, for people from middle class background or underprivileged section of the society, the road to success is rather challenging, if not impossible to trod. However, we have a few living examples, especially in the field of business, who have proven that with enough dedication, willpower and diligence, nothing is impossible. Serial entrepreneur Divyank Turakhia hails from a middle class Jain family in Mumbai. Schooled at Arya Vidya Mandir in Bandra and having graduated from Narsee Monjee, University of Mumbai, he held no degree from IITs, IIMs or any of the Ivy League Universities, but today, his net worth stands at around US$ 1.76 billion.
Similarly, at a young age of 27, Oyo Rooms founder and CEO Ritesh Agarwal is the world’s second youngest billionaire with a net worth of over $1.1 billion. He didn’t belong to a business family neither were they well-to-do. In fact, when Ritesh was in his teens, he had to sell sim cards to earn some extra money and help his parents. Did you know that he was also a college dropout?
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These are just two of the thousands of other instances of ‘rags to riches’ success stories. Besides their diligence and determination, it is by setting SMART goal setting that led to their success. With that said, the inevitable question is – what exactly is SMART goal setting?
Developed by George Duran in the 1980s, SMART goal setting is applicable to any one from any sector – government organisation, finance sector, etc. The best part? It actually works. There is smart goal setting and then there is SMART goal setting. Here is what the latter means!
- S (Specific) – Your goal has to be specific and well-defined if you want to achieve it. If being successful is your goal, then what exactly is ‘success’ to you? This is because, without a defined goal, one won’t know if he/she has attained it or not.
- M (Measurable) – Your goal should be something that is measurable. NUMBERS matter the most here. For instance, if your goal is to pitch clients, ‘how many clients in how many months’ is the question you should be asking yourself.
- A (Assignable) – It is seemingly impossible for any goal to be achieved without a specific department or individual to assign it to.
- R (Realistic) – It is important to be ambitious but what is more crucial is to set goals that are realistic and attainable. Setting goals that are beyond your limit and capability will only bring more disappointment and frustration.
- T (Time-based) – When your goal is all you can see, ‘time’ can be very easy to miss. Setting specific milestones throughout specific time period is important when working towards your goals.
Now that you know the secret ingredients to achieve success, what are you waiting for? Go, set your SMART goals.