Setting a BHAG. How this can Help your Business?
If you spend any time around business owners and entrepreneurs you might come across the acronym BHAG. If you don’t understand what BHAG means let me spell it out for you quickly – BHAG stands for big hairy audacious goals. Let’s take a quick moment to identify what BHAG might mean for you. A big hairy audacious goal means looking at your business, means looking at what you are passionate about and basically setting yourself a goal to be the best in the world at it. It’s like looking at a stretch goal. You might be setting targets for sales targets, for calls targets or for other areas of your business but with a BHAG you need to aim higher, you need to be the best in the world at it.
A true BHAG is clear and compelling, serves as unifying focal point of effort, and acts as a clear catalyst for team spirit. It has a clear finish line, so the organization can know when it has achieved the goal; people like to shoot for finish lines.”
— Collins and Porras, Built to Last: Successful Habits of Visionary Companies
I think you can see from the definition above why a big hairy audacious goal is important for your business and your team. If you provide a unifying focal point it gets the team working together – it gives you something to aim for higher than you may have previously thought you were able to achieve. It is something for you and your team to get excited about
I’m not going to tell you in this article what your own big hairy audacious goal should be. It’s up to you and your team to decide what your big hairy audacious goal should be. And it doesn’t just necessarily have to be revenue-based. You may decide you want to help people. You may decide you want to donate a significant amount of money to a particular charity that you all support (after earning a certain amount of profit to ensure that you can make this donation.)
The important part about your big hairy audacious goal is, as mentioned above, that it is a unified focal point. If you don’t get your team on board, if not everybody agrees, if you haven’t spoken to them about it first then they’re not going to get behind it and you’re not going to achieve your goal. So sit down with those members of your team and come up with the big hairy audacious goal that you all agree with that you will get excited about and that you all are going to strive to achieve
I think that it’s important that you sit down as a team to establish your goals to come up with strategies and tactics to achieve these goals and to make sure that you’re monitoring your path towards achieving these goals and celebrating milestones along the way good luck and show us your big hairy audacious goal below in the comments.
Book in for a BHAG setting strategy session today.
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