This month marks the beginning of a new quarter, a new year and a new opportunity. Many people talk about resolutions and goal setting but as a business owner you have to set goals mid-year the year before to be successful in achieving them. There was a recent movement about creating a “Big Hairy Audacious Goal” or BHAG. Jaclyn and I sat down with our executive coach Kelly Townsend last June and set intentions for our BHAG for JTI with a deadline of December 2018. Here are the key things to remember when intention setting. Although we have professional challenges in mind, these correspond to personal development as well:
1. Write them down!
There is just something about putting a pen to paper. Thoughts become intentions when written down, then those intentions must become action items. Many action items become strung together and you’ve got the roadmap to achieving your goal!
2. Break up the goal into manageable morsels.
This doesn’t mean just the end game intention. Instead, devise a goal of how you are going to get there, nothing happens overnight. Break up your yearly purpose into quarterly, monthly or ideally weekly objectives. This will help you gain momentum and also give you confidence as you reach these weekly milestones. You will realize that your overly ambitious goal is actually attainable.
3. Have an accountability partner that will check up with you periodically.
This will help you not to lose sight of the end goal and help you stay focused. Jaclyn and I check in with each other weekly to make sure we are in line with our set objectives. You need to make sure this strategically chosen individual is a person who keeps their word and will be brutally honest with you when you need to be told you are not hitting the mark.
4. Have measurables not just words.
The more specific here the better. For instance, the goal to “increase revenue” is vague while “increase company’s revenue by 10% with at least a 2% increase in profitability and at least a 2% decrease in expenses” creates a well-rounded picture that is easy to track.
5. Give yourself a deadline.
I believe this pertains to all your milestones not just your end of the year BHAG. Also, don’t just say it or write this one down, SCHEDULE it. Once the goal is set and broken down into accessible chunks, and your accountability partner is chosen (and informed!), put it in your calendar. I would even go so far as to send your accountability partner calendar invites to your deadlines. This will keep them compelled to their promise to you.
For more information on goal setting or on ways of achieving objectives please feel free to reach out to me for a coffee date. We can all learn from each other!