Sheet 1: Creating SMART Goals Exercise

	
	
	
	

		

 
		
		


	
	

		


		
Creating SMART Goals - Training Exercise
		
	

		


		

This tab will be used for practicing creating SMART Goals during the training session.  You will start by putting in your draft goal for each of the five areas of financial health, operations, capital access, social impact, and strategic planning - the five key areas discussed during the two-day training.  After you draft your goal, please go through each of the sub questions of defining a SMART goal.  Answering these questions will help you improve your draft goal into an actionable SMART goal that should be inserted in the final goal box.  As a follow on to your strategic planning process, a business plan with action items will be key to reaching these strategic goals.
		
	

		


		


		


	
	

		


		
Sample Financial Goal
		
	

		


		
DRAFT GOAL
		
[insert draft goal]
	
	

		


		
Specific
		


	
	

		


		
What is the desired result? (who, what, when, why, how)
		
	

		


		
Measurable
		


	
	

		


		
How can you quantify (numerically or descriptively) completion?
		
	

		


		
How can you measure progress?
		
	

		


		
Achievable
		


	
	

		


		
What skills are needed?
		
	

		


		
What resources are necessary?
		
	

		


		
How does the environment impact goal achievement?
		
	

		


		
Does the goal require the right amount of effort?
		
	

		


		
Relevant
		


	
	

		


		
Is the goal in alignment with the overall mission or strategy?
		
	

		


		
Time-bound
		


	
	

		


		
What is the deadline?
		
	

		


		
Is the deadline realistic?
		
	

		


		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


		


	
	

		


		
Sample Operational Goal
		
	

		


		
DRAFT GOAL
		
[insert draft goal]
	
	

		


		
Specific
		


	
	

		


		
What is the desired result? (who, what, when, why, how)
		
	

		


		
Measurable
		


	
	

		


		
How can you quantify (numerically or descriptively) completion?
		
	

		


		
How can you measure progress?
		
	

		


		
Achievable
		


	
	

		


		
What skills are needed?
		
	

		


		
What resources are necessary?
		
	

		


		
How does the environment impact goal achievement?
		
	

		


		
Does the goal require the right amount of effort?
		
	

		


		
Relevant
		


	
	

		


		
Is the goal in alignment with the overall mission or strategy?
		
	

		


		
Time-bound
		


	
	

		


		
What is the deadline?
		
	

		


		
Is the deadline realistic?
		
	

		


		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


		


	
	

		


		
Sample Social Impact Goal
		
	

		


		
DRAFT GOAL
		
[insert draft goal]
	
	

		


		
Specific
		


	
	

		


		
What is the desired result? (who, what, when, why, how)
		
	

		


		
Measurable
		


	
	

		


		
How can you quantify (numerically or descriptively) completion?
		
	

		


		
How can you measure progress?
		
	

		


		
Achievable
		


	
	

		


		
What skills are needed?
		
	

		


		
What resources are necessary?
		
	

		


		
How does the environment impact goal achievement?
		
	

		


		
Does the goal require the right amount of effort?
		
	

		


		
Relevant
		


	
	

		


		
Is the goal in alignment with the overall mission or strategy?
		
	

		


		
Time-bound
		


	
	

		


		
What is the deadline?
		
	

		


		
Is the deadline realistic?
		
	

		


		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


		


	
	

		


		
Sample Capital Planning Goal
		
	

		


		
DRAFT GOAL
		
[insert draft goal]
	
	

		


		
Specific
		


	
	

		


		
What is the desired result? (who, what, when, why, how)
		
	

		


		
Measurable
		


	
	

		


		
How can you quantify (numerically or descriptively) completion?
		
	

		


		
How can you measure progress?
		
	

		


		
Achievable
		


	
	

		


		
What skills are needed?
		
	

		


		
What resources are necessary?
		
	

		


		
How does the environment impact goal achievement?
		
	

		


		
Does the goal require the right amount of effort?
		
	

		


		
Relevant
		


	
	

		


		
Is the goal in alignment with the overall mission or strategy?
		
	

		


		
Time-bound
		


	
	

		


		
What is the deadline?
		
	

		


		
Is the deadline realistic?
		
	

		


		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


		


	
	

		


		
Sample Strategic Planning Goal
		
	

		


		
DRAFT GOAL
		
[insert draft goal]
	
	

		


		
Specific
		


	
	

		


		
What is the desired result? (who, what, when, why, how)
		
	

		


		
Measurable
		


	
	

		


		
How can you quantify (numerically or descriptively) completion?
		
	

		


		
How can you measure progress?
		
	

		


		
Achievable
		


	
	

		


		
What skills are needed?
		
	

		


		
What resources are necessary?
		
	

		


		
How does the environment impact goal achievement?
		
	

		


		
Does the goal require the right amount of effort?
		
	

		


		
Relevant
		


	
	

		


		
Is the goal in alignment with the overall mission or strategy?
		
	

		


		
Time-bound
		


	
	

		


		
What is the deadline?
		
	

		


		
Is the deadline realistic?
		
	

		


		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	



Sheet 2: SMART Goals Template

	
	
	

		
                       Preserving and Expanding CDFI Minority Depository Institutions 
		
		


	
	

		
Creating SMART Goals - Template

		


	
	

		
This tab can be used as a template for your bank's strategic planning session  to set SMART Goals aligned with the specific strategic priorities you have identified.  

You will start by putting in your draft goals. We have included the five areas covered during the training session (financial health, operations, capital, social impact, and strategic planning); however, these categories should be updated based on the specific strategy and related goals of your institution. After you draft your initial goals, you can utilize the  sub questions of defining a SMART goal to help you improve your draft goal into an actionable SMART goal that should be inserted in the final goal box.  As a follow on to your strategic planning process, a business plan with action items will be key to reaching these strategic goals.
		
	

		


		


	
	

		
Goal One
		
	

		
DRAFT GOAL
		
[insert draft goal]
	
	

		
Specific
		


	
	

		
What is the desired result? (who, what, when, why, how)
		
	

		
Measurable
		


	
	

		
How can you quantify (numerically or descriptively) completion?
		
	

		
How can you measure progress?
		
	

		
Achievable
		


	
	

		
What skills are needed?
		
	

		
What resources are necessary?
		
	

		
How does the environment impact goal achievement?
		
	

		
Does the goal require the right amount of effort?
		
	

		
Relevant
		


	
	

		
Is the goal in alignment with the overall mission or strategy?
		
	

		
Time-bound
		


	
	

		
What is the deadline?
		
	

		
Is the deadline realistic?
		
	

		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


	
	

		
Goal Two
		
	

		
DRAFT GOAL
		
[insert draft goal]
	
	

		
Specific
		


	
	

		
What is the desired result? (who, what, when, why, how)
		
	

		
Measurable
		


	
	

		
How can you quantify (numerically or descriptively) completion?
		
	

		
How can you measure progress?
		
	

		
Achievable
		


	
	

		
What skills are needed?
		
	

		
What resources are necessary?
		
	

		
How does the environment impact goal achievement?
		
	

		
Does the goal require the right amount of effort?
		
	

		
Relevant
		


	
	

		
Is the goal in alignment with the overall mission or strategy?
		
	

		
Time-bound
		


	
	

		
What is the deadline?
		
	

		
Is the deadline realistic?
		
	

		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


	
	

		
Goal Three
		
	

		
DRAFT GOAL
		
[insert draft goal]
	
	

		
Specific
		


	
	

		
What is the desired result? (who, what, when, why, how)
		
	

		
Measurable
		


	
	

		
How can you quantify (numerically or descriptively) completion?
		
	

		
How can you measure progress?
		
	

		
Achievable
		


	
	

		
What skills are needed?
		
	

		
What resources are necessary?
		
	

		
How does the environment impact goal achievement?
		
	

		
Does the goal require the right amount of effort?
		
	

		
Relevant
		


	
	

		
Is the goal in alignment with the overall mission or strategy?
		
	

		
Time-bound
		


	
	

		
What is the deadline?
		
	

		
Is the deadline realistic?
		
	

		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


	
	

		
Goal Four
		
	

		
DRAFT GOAL
		
[insert draft goal]
	
	

		
Specific
		


	
	

		
What is the desired result? (who, what, when, why, how)
		
	

		
Measurable
		


	
	

		
How can you quantify (numerically or descriptively) completion?
		
	

		
How can you measure progress?
		
	

		
Achievable
		


	
	

		
What skills are needed?
		
	

		
What resources are necessary?
		
	

		
How does the environment impact goal achievement?
		
	

		
Does the goal require the right amount of effort?
		
	

		
Relevant
		


	
	

		
Is the goal in alignment with the overall mission or strategy?
		
	

		
Time-bound
		


	
	

		
What is the deadline?
		
	

		
Is the deadline realistic?
		
	

		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]
	
	

		


		


	
	

		
Goal Five
		
	

		
DRAFT GOAL
		
[insert draft goal]
	
	

		
Specific
		


	
	

		
What is the desired result? (who, what, when, why, how)
		
	

		
Measurable
		


	
	

		
How can you quantify (numerically or descriptively) completion?
		
	

		
How can you measure progress?
		
	

		
Achievable
		


	
	

		
What skills are needed?
		
	

		
What resources are necessary?
		
	

		
How does the environment impact goal achievement?
		
	

		
Does the goal require the right amount of effort?
		
	

		
Relevant
		


	
	

		
Is the goal in alignment with the overall mission or strategy?
		
	

		
Time-bound
		


	
	

		
What is the deadline?
		
	

		
Is the deadline realistic?
		
	

		
FINAL GOAL
		
[insert final goal based on updates made for the above responses]