The first week of the year is history. How are your resolutions holding out?
It is estimated that nearly 25% of the resolutions we make are broken in the first week and 43% by the first week of February.
So, forget resolutions and concentrate on developing goals with action steps to make them happen.
It doesn't matter the size of the company or even if it is personal or business. Goals are really the way to go. Goals should make you think. I know that thinking can be hard, but it is worthwhile exercising the most powerful muscle you have.
The best goals need to be specific, not general. They need to be measurable. How do you know if you achieved it if you can't measure it? And they need to be time-based. Meaning that they have a date at which time goal should be achieved.
There is some discussion of whether goals should be achievable and realistic. If you have been growing by 8% every year for the last 5 years, then 8% should be achievable and it is certainly reasonable. But as you have been doing that every year for 5 years is it really a goal worthy of you even writing it down.
Praise for the BHAG. The BIG, HAIRY, AUDACIOUS GOAL.
You can certainly have a mixture of modest goals and BHA goals, but the BHAG is the one that drives the company, it drives you, it drives your employees.
BHAGs still need to be specific, measurable, and time-based but they stretch further out, beyond the year. BHAGs are multi-year endeavors and encompass who you are, what you are and what your company to be.
There are lots of books that talk about BHAGs but probably the best is "Built to Last" by Jim Collins. The same person that wrote "Good to Great".
In Jim Collins’s book, he describes how similar companies in similar industries have different levels of success based on the fact the leadership decided on the BHAG. When everyone at the company knows of, and believes in the BHAG, it helps them direct their daily activities and interactions with customers. It helps you, as the owner to have a destination in mind. The journey can move in different directions but the end spot is still the desired location.
Here is my message - if you need help in developing your short-term goals as well as your BHAGs, I can help.