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Someone on LinkedIn recently posted a question on whether “our strategic models (such as McKinsey, BCG, standardized indicators, . . .)” are outdated. The person wanted to know if there were some keys to give new meaning to strategic thinking that are better adapted to the current environment?
Before even attempting to answer that question, some serious clarification needs to happen. First, McKinsey and BCG are not strategic models. They are consulting firms that have, for the past 50 years, helped shaped the way the business world thinks about the entire subject of strategy. In fact, they, and most notably the early pioneers of BCG, introduced the concept of strategy into the business lexicon.
Every good business or marketing strategy book will tell you that one of the most essential pieces of analysis to perform for your company is a SWOT analysis. This method, attributed to Albert Humphrey, a management consultant from the Stanford Research Institute, has been around for more than half a century, is often one of the first things strategic planners will have you perform.
Strengths: Look at the characteristics, skills sets, experience, or assets that give you an advantage in the market place
Weaknesses: Determine the elements about your business that put you at a disadvantage to others in your industry
Opportunities: Identify things that you may see in the business environment that you may be able to take advantage of for increased sales or profitability
Threats: Point out those things in your environment that could lead to decreased sales and profitability
This seems to be a very reasonable and beneficial analysis to perform for any business – review both your internal and external situation and make decisions from there. Right? What could be the harm?
There was a time when only people in professional services – the consultants, lawyers, doctors, accountants, etc. – needed to excel at being a trusted advisor to their clients in order to be successful. Now, that requirement has spread far wider than it has before – the market is demanding that everyone, even those who sell products, become a trusted advisor.
This new demand stems from the fact that consumers have just too many choices today to make an educated decision about everything that is required in their personal and professional lives. There are so many choices and just not enough time to research all of the aspects required to make good decisions. So what is the alternative? What do people do? They made decision on who they can trust and then allow the influence of the trusted advisor to drive their decisions.
The seventh of the 7 things not to do to achieve your goals is to be vague.
Don’t include “shoulds” – do things because you have an appreciation for the benefit to be gained or the pain to be avoided that is associated with the goal
Don’t obsess over the bull’s eye – give yourself a range to shoot for instead of a single point. In addition to the target, identify a lesser amount that you would be pleased with. At the same time establish what you would consider a stretch goal.
Don’t “try” anything - write your goals in a way that identifies the actions you will take, not what you will try to do. In the words of the wise Jedi master, Yoda, “Do or do not … there is no try.”
Don’t focus on other people – if your goal is dependent upon others, re-write it to only include the action you can directly control.
Don’t ignore your past performance - if you haven’t been able to accomplish something in th past, it’s not reasonable to expect high performance. Take baby steps if you need to and giant leaps when that is appropriate
Don’t forget who you are – take your likes, preference, life purpose, etc. in to account when crafting your goals
Don’t be vague
There are a host of reasons not to be vague in your goal setting. First, goals are intended to provide some sort of guidance or prioritization for where you will spend your time. A goal that is not clearly spelled out will fail to accomplish this. Not only does it not provide you with a sense of knowing what to do, you also will lack a sense of what not to do. This often leads to becoming extremely busy and non-effective at the same time.
Second, vague goals do not provide intrinsic motivation for you to accomplish them. If you cannot articulate a clear and specific goal, your brain doesn’t know how to help you make progress towards it in the background. In fact, you might just be sending your subconscious signals that you have little faith in your ability to accomplish anything specific.
And finally, vague goals usually aren’t clear enough for you to know when the goal has been accomplished. This is how items can remain on your list of goals for years without any progress against them. After awhile, you begin to ignore them completely and they lose any sense of value for being on your list in the first place.
If you aren’t going to craft a specific goal, you are better off not adding it to your list at all, lest its negative impact spill over into your other goals.
Instead, craft specific goals that will give you a sense of what you are specifically trying to accomplish – complete a specific 90 day exercise program versus get fit. Ensure the goal provides sufficient motivation – respond to customer requests within 24 hours versus do a better job with customer service. And make sure you have some way to determine whether the goal has been accomplished – have 6 months of cash reserves versus build some savings.
If you struggle with being specific with crafting the goal, you will struggle much more later when trying to accomplish it. It’s better to put in the effort up front and get specific.
The sixth of the 7 things not to do to achieve your goals is not forgetting who you are.
Don’t include “shoulds” – do things because you have an appreciation for the benefit to be gained or the pain to be avoided that is associated with the goal
Don’t obsess over the bull’s eye – give yourself a range to shoot for instead of a single point. In addition to the target, identify a lesser amount that you would be pleased with. At the same time establish what you would consider a stretch goal.
Don’t “try” anything - write your goals in a way that identifies the actions you will take, not what you will try to do. In the words of the wise Jedi master, Yoda, “Do or do not … there is no try.”
Don’t focus on other people – if your goal is dependent upon others, re-write it to only include the action you can directly control.
Don’t ignore your past performance - if you haven’t been able to accomplish something in th past, it’s not reasonable to expect high performance. Take baby steps if you need to and giant leaps when that is appropriate
Don’t forget who you are
There is no perfect list or set of goals that is absolutely right for everyone. How much exercise do you need? It depends. How much water should you drink? It depends. What is the perfect weight? It depends. How many customers should you have? It depends. How much revenue growth is appropriate? It depends. How much money is needed? It depends.
What do these things depend on? They depend upon you and your situation. Elite athletes staying on top of their game need more exercise than the reasonably fit person just trying to maintain their weight. If you sweat a lot, dehydrate easily, or live in an arid climate, you may need greater amounts of water. Businesses selling widgets at $10 a piece need more customers than consultants who charge their clients thousands of dollars per project. The maturity of your industry and the available cash you have to invest will affect your revenue targets. The amount of money you need is based on your preferences and choices around lifestyle.
Your goals, objectives, likes and dislikes, passions, finances, skill set, and competencies will all play a role in crafting the right set of goals for you. Not taking these things into consideration, or worse, merely copying someone else’s goals, is not a set up for success. Realistically consider what is appropriate for you and your situation if you want to succeed.
The fifth of the 7 things not to do to achieve your goals is to ignore your past performance.
Don’t include “shoulds” – do things because you have an appreciation for the benefit to be gained or the pain to be avoided that is associated with the goal
Don’t obsess over the bull’s eye – give yourself a range to shoot for instead of a single point. In addition to the target, identify a lesser amount that you would be pleased with. At the same time establish what you would consider a stretch goal.
Don’t “try” anything - write your goals in a way that identifies the actions you will take, not what you will try to do. In the words of the wise Jedi master, Yoda, “Do or do not … there is no try.”
Don’t focus on other people – if your goal is dependent upon others, re-write it to only include the action you can directly control.
Don’t ignore your past performance
While every day is a new start and you are not a slave to your past, understanding and acknowledging your past performance can prove very valuable in understanding the probability of achieving your new goals. If, in the past, you have been able to consistently excel in the area in which you are setting your goal, then maybe it’s time to do a little stretching. Pick a target that is more challenging than you normally would.
If, on the other hand, you have not had much success in a particular area in the past, then it makes more sense to be conservative with your goal. Let’s take blogging for example. If you have set social media goals in the past and have not been able to Tweet or write an article more than once every other week, it is not realistic to set a goal to write a daily blog post. Weekly posting may be a more realistic goal. Once you can do that consistently, then revise your goal to do it more frequently.
The fourth of the 7 things not to do to achieve your goals is to not focus on other people.
Don’t include “shoulds” – do things because you have an appreciation for the benefit to be gained or the pain to be avoided that is associated with the goal
Don’t obsess over the bull’s eye – give yourself a range to shoot for instead of a single point. In addition to the target, identify a lesser amount that you would be pleased with. At the same time establish what you would consider a stretch goal.
Don’t “try” anything – write your goals in a way that identifies the actions you will take, not what you will try to do. In the words of the wise Jedi master, Yoda, “Do or do not … there is no try.”
Don’t focus on other people
It is very tempting and often a subtle nuance often overlooked, to include the actions of others in your goal setting. However, setting goals around others’ behavior is not too effective and can even be demotivating.
Setting a goal of having someone – a student, child, co-worker, employee – learn something is an example of a goal that focuses on other people. I cannot do anything about their learning. If they choose not to pay attention, study the material, do the homework, or in general not participate in the process, then you would have no control whatsoever over your ability to accomplish the goal. How frustrating.
If instead, you made their learning your objective and set engaging in good teaching practices as your goal, then you regain your control to affect the outcome. By checking your outcomes relative to your objective, you can modify your approach. You can also objectively measure your actions independent of other people’s actions to determine how well you did your part.
Here’s some food for thought – in business, how might setting a goal of increased revenue be inappropriately focused on other people?
The third of the 7 things not to do to achieve your goals is to avoid crafting goals around what you will try to do.
Don’t include “shoulds” – do things because you have an appreciation for the benefit to be gained or the pain to be avoided that is associated with the goal
Don’t obsess over the bull’s eye – give yourself a range to shoot for instead of a single point. In addition to the target, identify a lesser amount that you would be pleased with. At the same time establish what you would consider a stretch goal.
Don’t “try” anything
Using the word “try” in your goals is the same as broadcasting a loud and clear message to yourself that you have no intention whatsoever of succeeding. If you were to ask someone whether they will have a specific assignment completed by noon tomorrow and they responded with, “I’ll try,” you would have almost no confidence that you would see the completed assignment by noon.
If, on the other hand, the person responded that they have blocked out what they believe to be a sufficient amount of time, have done all the background research they think in necessary, and have a college schedule to proof read the work by 9:30 in the morning, you’d think they were serious.
What’s the difference?
The difference is that the first person is communicating the doubt, the second is communicating what they are doing to increase the odds of success. You still don’t know that the second person is going to complete the assignment, but their internal messages are screaming that they intend to do everything possible to meet the deadline and to meet it with quality. They are focused on what they will do, not what they will try to accomplish.
In the words of the wise Jedi master, Yoda, “Do or do not … there is no try.”
Accomplishing your goals can sometimes feel like climbing a Mount Everest – your confident you can start the journey strong but are less sure of your ability to finish. Paying attention to the following list of things not to do can greatly increase your chances of reaching the summit.
Don’t include “shoulds” – do things because you have an appreciation for the benefit to be gained or the pain to be avoided that is associated with the goal
Don’t obsess over the bull’s eye – give yourself a range to shoot for instead of a single point. In addition to the target, identify a lesser amount that you would be pleased with. At the same time establish what you would consider a stretch goal.
Don’t “try” anything - write your goals in a way that identifies the actions you will take, not what you will try to do. In the words of the wise Jedi master, Yoda, “Do or do not … there is no try.”
Don’t focus on other people – if your goal is dependent upon others, re-write it to only include the action you can directly control.
Don’t ignore your past performance – if you haven’t been able to accomplish something in the past, it’s not reasonable to expect high performance. Take baby steps if you need to and giant leaps when that is appropriate.
Don’t forget who you are – take your likes, preference, life purpose, etc. in to account when crafting your goals.
Don’t be vague – be specific enough in your wording so that you can clearly determine whether or not the goal has actually been met.
Yesterday, we started our journey through a list of things not to do in order to achieve your goals. We started by going deeper in understanding our motives than merely setting goals because we should. Today, we move on to our second don’t.
There are very few things in life can be predicted with absolute certainty months in advance. Given that why do we think it reasonable to set goals with absolute certainty build in to an inherently uncertain process. This negates any progress made unless the specific target is achieved. People often set weight loss goals (I’ll get to why this structure is something not to do in a later post in this series.) If you set out to loose 35 pounds and only lose 32 did you fail? Of course not. So why not build yourself some slack in your goal setting.
In business, forecasting is a common practice and every well run business has one. These are used by boards to evaluate the performance of the CEO and by banks to evaluate the health of the companies to which they lend money. CEOs aren’t necessarily deemed poor performers and companies are not necessarily considered high risk if they don’t hit their budgeted number. Based upon past experience, there is usually some margin of error allowed – perhaps 5-10% depending upon the type of business.
Learning from this practice, goals should have a target – something equivalent to the weight you would like to hit or number placed in the budget – and a minimally acceptable number based upon past performance. This minimal number should require some level of effort and make you feel as though have had to work for it. It is not intended to be a sand bag or cop out but a realistic goal that symbolizing accomplishment.
Just a minimum level and target are not sufficient. Goals can be de-motivating if accomplished too easily. If 35 pound is your targeted weight loss, what would it be like to reach 50 pounds. A 10% increase in revenue seems doable, but a 25% increase would be phenomenal. Go ahead and think about what an ultimate stretch goal might be. Raymond Aaron call this the Outrageous goal in his MTO system that teaches these principles.
The whole point of this don’t – not obsessing over the bull’s eye – is to give yourself a range to motivate yourself for any real progress you make towards your ultimate goal and to keep you motivated enough to shoot for phenomenal success.
Someone on LinkedIn recently posted a question on whether “our strategic models (such as McKinsey, BCG, standardized indicators, . . .)” are outdated. The person wanted to know if there were some keys to give new meaning to strategic thinking that are better adapted to the current environment?
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