What Are Your Top Goals for the Year Ahead?

“Double Up on the BHAGS — Big, Hairy, Audacious, Goals.” This is true in business and in life. Because if you set a low bar right from the get-go, you may not end up with enough, let alone much. Several individuals and the business entities they head set small goals.

If you deal with goals on the back burner, that’s all you will aspire to be — an afterthought for potential clients, colleagues, and friends. Avoid this at all costs by setting Big, Hairy, Audacious Goals. Even if you fail and only achieve 20% of what you set out to do, you will still have accomplished something significant. Unlike your competitors who played it safe by aspiring for something small, and that’s all they achieved.

More on the BHAG Rationale

Setting a Big, Hairy, Audacious Goal compels an individual or brand to think big, cultivate long-sightedness and create a plan to execute it. Coined in the must-read book Built to Last: Successful Habits of Visionary Companies, the BHAGS philosophy is the brainchild of Jim Collins and Jerry I. Porras. They published this book in 1994, and since then, many successful companies have benefitted from it.

So, how Big, Hairy, and Audacious should your company’s goals be? Let’s understand this with the following examples.

Some Notable BHAGS

John F. Kennedy’s iconic BHAG, which he declared in 1961. “This nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to earth.” As the world knows, this declaration brought results.

Meta’s BHAGs is to “make the world more open and connected,” and Facebook and WhatsApp are doing just that. They continuously evolve to stay aligned with this BHAG.

Google is our source of sun today because that’s precisely the BHAG they set out to achieve. Their BHAG is “organize the world’s information and make it universally accessible and useful.”

SpaceX chose the BHAG to “enable human exploration and settlement of Mars,” and the rest, as you know, is history.

Setting a Big, Hairy, Audacious Goal not only energizes your staff but also brings an unrelenting intensity to their roles.

But, Isn’t BHAGS the Same as Corporate Vision?

A natural question that often arises here is whether there is a difference between BHAGs and a company’s vision statement. The critical difference between BHAGs and a vision statement is that the former is bolder. Whereas a corporate issues a vision statement after much calculation and research. But BHAGs are like moon shots. While the chances of 100% success are not very likely, if a company does achieve them, it is pathbreaking.

What Can Be Your BHAGs for the Year Ahead?

To identify them, follow this strategy:

Figure out a role model first, usually a highly successful conglomerate, whose traits and strategies you want to emulate. For instance, your brand may aspire to become the next Google. ‘Yes, this is how audacious you must be.’

Identify the common enemies, A.K.A, the top companies within your sector, and overcome them to lead the market.

Set a bold target. Targeting should involve setting tangible qualitative or quantitative goals. For example, you target to become a multi-billion dollar company.

Begin the transformation process by overhauling systems and processes. Reinvent your brand if that is what it will take.

Want to Craft Your BHAG?

Well, this is going to take some introspection, soul searching, and talking to your C-level employees, partners, and board of directors. Ask yourself and them what they want the company to represent. For setting a true BHAG, you and your staff must display candor. They must speak their hearts and brainstorm without fear.

Also, figure out the true USP of your human capital by learning about the things you and your staff do better than your competitors.

Here is a succinct roadmap for your BHAG:

– Keep the BHAGs language zingy and compelling.

– It should not be too vague. It must be actionable.

– It should be innovative.

– It should never be short-sighted. The BHAG you set out to achieve must be so big that it will take at least a decade to accomplish.

Two Cents

“Reach for the stars; you may not quite get one, but you won’t come up with a handful of mud either” — Leo Burnett.

If you want to grow, evolve and thrive with a flair for years to come, you must double up on your BHAGs. Not only will you end up being hyper-successful, but you will also create true wealth for the world — the kind that goes beyond financial currency.

So, wear your heart on a sleeve and put even the most outrageous of your goals out there. Go full throttle on the BHAGs. This will lay the foundation for big things for your company.