Simion Kronenfeld: Set Up S.M.A.R.T. Goals to Achieve Results

When it comes to the industries of real estate and finance, the acronym S.M.A.R.T. represents the five pillars of setting up individual and professional goals in order to strive for success down the road. It consists of five key components: Specificity, Measurability, Achievability, Relevance, and Time-Based goals. 

Experts such as Semion Kronenfeld, a seasoned professional in the real estate industry, recognize the importance of following S.M.A.R.T. goals as they plan their projects, and have finely tuned their skills over time in order to stay on top of the industry in new and essential ways. 

Specificity 

In order for your goals to be viable and able to lead you and your company to success, the most important quality for your goals to have is for them to be specific. Being in control of all the details of your project ensures you are following a strict set of rules that can be monitored and adjusted whenever the need arises, allowing you to achieve a more tightly polished result. 

In the real estate industry, this can refer to narrowing down the specifics of location, lifestyle, and types of space, as well as financial parameters such as articulating the boundary between necessary purchases and additional desires. 

Measurability 

After determining the specifics of your project, it is then crucial to define which measurable values are relevant to your work on the project in the short and long term, and how you and your team plan to keep track of these measurements. 

Having a clear vision of major milestones and budgets is a must when equipping a real estate project to flourish down the line. Values such as any potential debts to repay or savings to collect can add up and threaten to overtake your valuable time and resources if not properly accounted for, and making a plan for all of your measurable values can make or break the success of your project upon completion. 

Achievability 

Once you have determined the specifics and variables of your project, it is critical to stop and evaluate whether or not your project and its goals is achievable within the constraints you and your business will allow. Assessing the achievability of your project is essential, as it is the step that gives you room to take a holistic view of your goals and determine if it is possible, and if so, if it is likely to yield positive results. 

Relevance 

After you have determined whether or not your project is achievable and what kinds of results you can expect it to bring you and your team, it is then time to take a step back and examine the relevance of your goals when it comes to the greater scope of your project, as well as the relevance of your plans for your project and your business going forward. 

According to Simon Kronenfeld developing a thorough understanding of your short and long term plans is essential when working on projects in the industries of finance and real estate. Parameters such as the direction in which you plan to take your investment and which kinds of results you are expecting to positively impact your earnings can play a critical role on your long-term professional success. 

Time-Based 

Lastly, once you have determined the specificity, measurability, achievability, and relevance of your project, it is finally time to assess the time-based goals and milestones you are expecting to reach, and whether or not these are in line with your expectations for the growth of your business. Having a proper grasp of the constraints imposed on your project and each of its phases will help you gain a more focused and practical approach with which to take your project across the threshold to completion, ensuring its prosperity and success.