What are targets, and how can they help your business? Targets differ from goals; goals need to be SMART (Specific, Measurable, Attainable, Relevant, Time-Bound), while a target is a general direction in which you want to be heading. Targets don’t have to be SMART - they work by keeping you moving in the right direction. A goal might be to speak with 3 professionals that are co-caring for patients you see this upcoming month, whereas a target would be to increase your involvement with professionals. One is SMART, and the other indicates a direction you would like to move in.
In our practice, targets are part of our 3-5 year plan. Targets can also be side effects of other things, such as revenue; for me, revenue is a fortunate side effect of patients that are well cared for and a business that is well run.
The biggest reason to utilize targets is to keep you focused and on track. You should only have a few goals in the areas that are top priority to you, and the rest of what you identify (but aren’t going to move mountains to achieve) can sit as targets.
Have fun while you build your practice, increase your profits, and enjoy your life!
Dr. Jeff Scholten
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