In my last post I talked about how the measure of efficiency is a simple idea. The equation for efficiency is a measure of the outputs divided by the inputs. During this post I’m going to explore how we should look at the outputs of the efficiency equation in terms of goals.
Before I started my MBA I read a book called “The Goal: A Process of Ongoing Improvement” by Eliyahu M. Goldratt. This book changed the way I thought about life. Without ruining the book for you, I will just say that the main character learns that having the correct goal is far more beneficial than improving any single metric at the factory he works at. Without a consistent goal to work towards, our efforts become scattered and fragmented. After reading the book I realized that without an overarching goal we are just wandering about aimlessly.
Goals provide a target for achievement, or something to work towards. In the efficiency equation your goals are the same as your outputs. As goals are the end product for efficiency, it is important to think about and set valuable goals. So how can we make these goals the best they can be? I like to use and would recommend using SMART goals. When you set SMART goals you really need to think the process through to get the most out of it.
Specific – Goals need to be as specific and detailed as possible.
Measurable – This is how you will know your goal has been accomplished. I think this is the most important part and often one of the most difficult. There will be more on this topic later.
Achievable – Is it realistic that you can actually do this?
Relevant – Is this goal worth doing?
Time-bound – When do I expect to accomplish this goal? What is a realistic time frame?
I will be giving away a copy of “The Goal” to one randomly selected email subscriber of my website. The cut off to subscribe will be this Sunday (6/12/16) at 8 pm. Don’t miss this chance to get an incredible book. Just add your email in the right hand side of this post. If you are in the Elko area and don’t win send me a message and I will let you borrow my copy of the book.