Rather, you want a new pair of size 9, blue, Nike running shoes with white laces–and you want those shoes by 5p.m. A personal big hairy audacious goal (BHAG) is about setting a personal goal regarding where to live, where to work, and where you want to see in a given number of years. This is quite similar to a standard BHAG, whose key points are pretty applicable to a personal BHAG. If you set a goal that does not harmonize with core values, you will either have to change to fit the goal or drop the goal altogether. After all, no goal is as important as a business you put in your blood, sweat, and tears. They have been working up the collar so as to achieve their goals.

1. Otherwise, it would just be an interesting idea that has no correspondence amongst your employees.
2. BHAGs are bigger, bolder and more powerful than regular long- and short-term goals.
3. Through this understanding, people in the company can connect everyday execution to long-term strategy.
4. By learning from the strategies and tactics of successful companies, businesses can apply those lessons to their operations.
5. It gives people a vision of what the future might look like if everyone pulls together and gives their individual best to the collective effort.

And that stretch goal, aka your BHAG, is what motivates you to think and work differently to reach something bigger than what you thought you could achieve. In order to succeed, they have to develop very precise targets that separate them from their competition while motivating their staff. Our simple system of AI-powered software, coaching, and methodology is built for growing companies to successfully execute strategic plans quarter over quarter and year over year. If you aren’t sure where to start, try downloading the BHAG template below and let us know how it goes!

Can a BHAG be a smart goal?

By setting these ambitious goals, companies can rally everyone around the same purpose and allow them to strive for something greater. They help companies stand out from their competition and set the team up for excellence. Internal transformation BHAGs involve pivoting the business’ strategy to reach higher success. This type of BHAG requires significant planning, foresight, and a clear understanding of your vision and goals. Target-oriented BHAGs are long-term goals an organization sets out to attain within a specific time frame (usually 10 years or longer).

Final Thoughts on Big Hairy Audacious Goal Examples and Ideas

This type of goal has many benefits to both the company and those who work within the company. On the other hand, owning a chain of restaurants that have locations in every corner of the world is a BHAG. It requires focus and stepping way outside your comfort zone.

They share three steps to creating your own BHAGs and four ways to make sure they succeed. They also provide several https://1investing.in/ for instruction and inspiration. Thanks to super fans of the book Built to Last, the acronym BHAG is a goal-setting synonym used by all kinds of people to describe a scary and thrilling goal they’re trying to reach. When you and your team set a big, hairy, audacious goal, talk about it a lot so your team stays focused and motivated.

In order to understand big hairy audacious goals, you need to understand what is referred to as the Hedgehog Concept. It is important at this point to stop and make sure that all of the potential BHAGs remaining on your list are aligned… This is a simple test to ensure that, first and foremost, the executive team shares the same vision. It may still take more time and effort to agree on how best to state it or measure it, but alignment at this stage is very important. Regarding business, “fox” companies recognize and pursue every opportunity, seeing the world in all its complexity. They work to be good at many different things to take advantage of opportunities as they are presented.

While larger in scope than OKRs, strategic plans are smaller in scope than BHAGs. Depending on your BHAG, create a strategic plan to get you part of the way towards your goal. Once you’re ready to update your strategic plan three or five years down the road, you can create another strategic plan to get you one step closer to your BHAGs.

Target Oriented BHAG Example

The key point here is to set BHAGs that are adequate to excite your employees but at the same time everlasting – this rule is valid for all types of BHAG. Even if you bhag examples leave the company one day, you want to make sure that your BHAG still lives on. A BHAG (pronounced bee-hag) is a tool for strategy development and goal setting.

Too many business leaders try to climb the ladder of success only to find it’s leaning on the wrong building. Here’s how to write a mission statement that keeps you climbing in the right direction. Take Walt Disney as an example of someone whose passion drove him to achieve amazing things. He had a dream to make people happy through their imagination. His BHAG (even if he didn’t call it that) was what we now know as Disneyland Park and the Walt Disney World Resort.

This isn’t a BHAG because it isn’t something revolutionary—but they’re still producing amazing content and inspiring people around the world every day. In practice, BHAGs and vision statements are pretty similar. They’re both inspiring goals that look at the long-term success of your company. Articulating long-term, nearly impossible goals is hard—and sharing them can be scary.

The common enemy focuses on overtaking the competitors. Targeting sets a specific objective such as becoming a billion-dollar company, and internal transformation seeks to remain competitive by revitalizing employees and business. Since publishing the book, Collins expounded on the concept of a BHAG by laying out criteria for creating one. Because BHAGs are supposed to pull people out of short-term thinking, the time frame for a BHAG is supposed to be at least ten years—if not more. The BHAG should have a reasonable chance of being achieved.

Important Components of a BHAG

When they share in this vision, they tend to give their best effort, which results in completely transforming companies with significant impact on their respective industries. In terms of strategy, BHAGs can assist your organization with decision-making processes and focusing on priorities. Put simply, they help prepare you for better long-term success. Some people consider BHAGs as no more than pipe dreams, but with the proper mindset and a plan of action, you can reach these goals. Keep your ultimate goal in mind, excite the passions of those who can help you reach that goal, and don’t give up. Transform your company from a simple manufacturer of mobility devices to the inventor and the first all-terrain wheelchair that changes the lives of millions.7.

Rather than focus on “core competences,” good-to-great companies homed in on an area of their business they led (or could lead) the world in. This is key to creating a good Big Hairy Audacious Goal. Just like you do with any goal, you will need to commit to your BHAG and start forward progress immediately. You can break it down into smaller, measurable chunks, or mini-goals. And make sure you check-in on your progress regularly (I suggest monthly) to dedicate productive focus to your BHAG.

Competitive BHAGs are a way for you to unite your team together against a large competitor. Leaning into the fact that you’re behind but have a good shot of winning can be a powerful motivator for your team. Competitive BHAGs are also a great way to rally team spirit and create a sense of urgency that you need to beat your competitors. When used correctly, they serve as a focal point for everyone’s efforts that can take your company from good to great. Finally, if you want to take your goal-setting efforts to the next level, check out this FREE printable worksheet and a step-by-step process that will help you set effective SMART goals.

Well, you know the rest.For NASA, the odds of accomplishing its moon mission were at best. But the excitement of trying to accomplish its big, hairy, audacious goal unified and focused the team more than any normal, safe goal. Yes, we know BHAG (pronounced BEE-hag) sounds like the villain in a kids show, a type of specialty cheese, or maybe even a code word for a top-secret rescue mission. But a BHAG is actually an important business concept introduced by Jim Collins in the book Built to Last. According to Collins and Porras, there are four broad categories of BHAG. The role model seeks to emulate the success of a well-known company.