Successful entrepreneurs understand that you can’t achieve goals you don’t set. They also understand that the bigger these goals are the better, because as author Jim Collins puts it, Big Hairy Audacious Goals (or BHAG’s) inspire people to action. Motivational speaker Zig Ziglar describes the process of goal setting as follows: “Set a goal so big that you can’t achieve it until you grow into the person who can.”
There are multiple examples of how goal setting has been used for successful goal achievement. For all of us karate nerds, Bruce Lee is the ultimate example of the effectiveness of goal setting. On January 9th, 1970, Lee wrote a letter to himself as a promise and a commitment to meet the goals he set for his life. If you visit Planet Hollywood, you can see the framed letter Bruce Lee wrote to himself, which stated the following: “My Definite Chief Aim: I, Bruce Lee, will be the first highest paid Oriental superstar in the United States. In return I will give the most exciting performances and give the best of quality in the capacity of an actor. Starting 1970, I will achieve world fame and from then onward till the end of 1980 I will have in my possession $10,000,000. I will live the way I please and achieve inner harmony and happiness”. Unfortunately, due to his untimely death in 1973, Bruce didn’t see how he successfully reached his goal beyond his wildest dreams.
Hopefully you now understand the role that goal setting plays in succeeding in business (and life). So, the question now becomes, what do you want to accomplish, and how do you devise a plan to achieve it? The good news is that once you know what you want to accomplish, you can reverse engineer the daily steps you’ll need to take to get you from where you are to where you want to be. Breaking the goal achievement process down into daily steps, provides a way for you to track your progress in real time (and provides you the opportunity to correct mistakes before you get too far off track). To ensure that you accomplish your goals, set goals with the following parameters:
Goals must be specific, measurable, attainable, relevant, and time specific (ex. I want to increase business revenue by 25% this year).
And finally, once you’ve established your BHAG, stop thinking about it. Instead, focus on monitoring and measuring your achievement of the daily steps that ultimately lead to your accomplishment of the BHAG. Before you know it you’ll have exceeded your original goal, and it will be time to establish a new goal!
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