LYL Season 3, Ep. 11 – Hairy Goals – 4 Questions to Determine if Your Goal is Big Enough
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We are in a good spot.
We started our company, Paradigm Shift, four years ago when Ryan set up business as a sole proprietor. He did about 10 workshops and made about $10,000 that year. Now Paradigm Shift has a staff of two full-time employees and 15 contract employees who will lead over 125 events in 35 states in 2015.
We are at a point where we need to reevaluate our goals to progress into new territory. It is time for us to set some bug hairy audacious goals for our future.
Our business BHAG is to have 25 full-time Paradigm Shift staff members in five years! Is this a true BHAG? Is it a big enough goal? Let’s walk it through the four questions below to determine if it is truly a BHAG.
4 Questions to Determine If Your Goal is BIG Enough
1. Does it meet the SMART Criteria?
Jim Collins stated that your BHAG doesn’t necessarily need to have an end-date…We argue that it certainly does. It needs to be specific enough to give you a target, measurable, actually attainable (even if it requires hard work and makes you nervous), relevant, and absolutely needs a date to make it a reality.
- PS BHAG? Yes…this is a SMART Goal.
2. Does it inspire you?
If it doesn’t fire you up, it’s probably not a big enough goal.
- PS BHAG? Good grief this gives me goosebumps.
3. Does it scare you a little?
Does your goal make you nervous? Does it make you hesitate a little bit? Does it cause you to pause and wonder if you’re a little crazy? If it doesn’t you need to up your goal game.
- PS BHAG? It is hard to imagine having this many staff members. So many questions come up…how can we afford this? Where would we get new business? What does this even require?
4. Does it require hustle?
This is the hairy part of your big goal. Are you going to need to roll up your sleeves and get to work to accomplish this huge goal? True BHAGs require you to get up early, learn new material, and flex your hustle muscle. If you can do it in your everyday routine it needs increasing!
- PS BHAG? There is no question we can’t do this without working more than ever.
PS BHAG? Absolutely.
(If you haven’t taken the Live Your List Assessment, it isn’t too late. Story continued below.)
Nick Collison Pick of the Day
1. Good to Great by Jim Collins – For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great?
Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world’s greatest companies, including Coca-Cola, Intel, General Electric, and Merck.
What now? Run Your BHAG Through the Ringer
This guide will help you determine if your goal is big enough..
Download the worksheet below and post your thoughts on the Live Your List Facebook group. Continue to be awesome. Repeat.
SMART Goal Worksheet
The Alaska 20
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