Linda Rawson, host of the GovCon Biz podcast, starts the new year by reflecting on past successes and challenges while emphasizing the importance of setting SMART goals to achieve business success in 2025. After a brief hiatus to avoid burnout, Linda is excited to reconnect with listeners and share actionable insights. Reflection on 2024 Personal achievements included international travel and unique experiences. Professional accomplishments included launching the GovConBiz website, completing the Jumpstart program, writing a book, and fostering client success. Key lessons: prioritize relationships and trust intuition. Focus of Episode is on SMART Goals Now, let's talk about setting goals. But not just any goals—SMART goals. This is a framework that helps you create clear, achievable, and measurable objectives. The SMART acronym, used for setting effective goals, provides a framework for creating objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound. While the specific acronym isn't attributed to a single inventor with a precise date of origin, its widespread use in management and business literature is often traced back to George T. Doran's 1981 paper, "There's a S.M.A.R.T. way to write management's goals and objectives." SMART stands for Specific: Clearly define what you want to achieve and who you want to target. Your ideal customer, not everyone. (Example: Instead of "Increase sales," try "Increase online sales by 15% for women entrepreneurs.") Measurable: Set quantifiable metrics to track your progress. (Example: Track website traffic, conversion rates, and revenue.) Achievable: Set realistic goals that you can realistically accomplish with your resources and time. Relevant: Ensure your goals align with your overall business vision and values. Time-bound: Set deadlines for achieving your goals. (Example: "Increase online sales by 15% by the end of Q2.") The Goal Secure one government contract valued at a minimum of $50,000 by December 31, 2025, within the 541511 NAICS code (Custom Computer Programming Services), targeting the Department of Defense, in particular, Air Force, for software development related to logistics. Let's break down how this is SMART: Specific: The goal isn't just "get a government contract." It specifies the type of contract (one), a minimum value ($50,000), a specific timeframe (by December 31, 2025), and a target market (a specific NAICS code and agency). This level of detail makes the goal much clearer. Measurable: The success of the goal is easily measured: Did you win at least one contract by the deadline and of the specified value? The number "one" and the dollar amount are quantifiable metrics. Achievable: This depends on your business's capabilities and the market. Research government contracting opportunities in your area and within your NAICS code to determine a realistic target. If you're just starting, aiming for a smaller contract is more achievable than going after a multi-million dollar one right away. It might be helpful to break this down into smaller goals, such as "Register in SAM.gov by [date]" or "Submit two proposals by [date]". Relevant: This goal is relevant if your business strategy includes pursuing government contracts as a revenue stream. It should align with your overall business objectives. Time-Bound: The inclusion of a specific date creates a deadline and provides a sense of urgency, motivating action and allowing you to track progress. To make this goal even more actionable, you can break it down into smaller SMART sub-goals: Register in SAM.gov and obtain a Unique Entity ID by 15-Feb-2025. (This is a crucial first step for doing business with the U.S. government) Identify and research at least five relevant contracting opportunities on SAM.gov or agency websites by 01-March-2025 Develop and submit at least two complete and compliant proposals by 01-May-...
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