One of the big challenges I often see while consulting with nurse practitioners or other people trying to build their businesses, is that they have no roadmap for how to get there. In fact, many of them are so stuck on idealizing the end goal that they never focus on what ACTIONS in the here and now are necessary to carry them forward. This can lead to impeding your progress, creating severe disappointment, and ultimately forcing you to give up on your dream of becoming a successful entrepreneur. Our courses walk you through the process, but you still gotta take action to get started!

While knowing where you’re going is certainly important, as the captain of your own ship you’re also going to need to know how to navigate your way through troubled waters. A good way to do this is to use what are called SMART goals.

SMART is an acronym that reframes your goal according to the following criteria:

• Specific – What are we trying to accomplish?
• Measurable – How will I know when it’s been accomplished?
• Achievable – How realistic is the goal?
• Relevant – How will this be worthwhile?
• Time-bound – What is the timeline?

For instance, when thinking and communicating your goal, DON’T say something like: I’d like to start a successful practice. That’s a nice goal and all, but it’s also pretty lofty and non-specific. It leaves the door open for too many unanswered questions:

• When do you hope to have it done?
• What’s needed to get there?
• How will you know when it’s a “success“?

Now let’s try reframing that same statement as a SMART goal: Three years from now, I will earn $300,000 annually running my own weight loss clinic as a nurse practitioner entrepreneur.

Notice the difference? This version is much more specific (running a weight loss clinic), has dollar figures attached to it ($300,000 per year), and gives a definite deadline (three years from now). There’s a lot more meat on the bones making it much more workable and achievable. Plus, it is SPECIFIC.

The great thing about SMART goals is that they aren’t just useful in business. You can also apply them to your finances too. For instance, don’t say: I’d like to be rich someday. Instead, a SMART goal for your finances might be: I will achieve financial freedom by the age of 40 by investing $50,000 of my income every year into my post-tax brokerage account and in various real estate.

The key here is in how everything ties together. Whether it’s business or money, you DON’T have to have an answer for everything up front when you think big. But the more roadblocks you can remove along the way, the better. And thinking in terms of SMART goals can help you do just that.