She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate. A BHAG (pronounced bee-hag) needs to resonate with the heart and soul of the employee. While “make $1 million in profit” is an admirable bhag examples goal, it doesn’t necessarily excite the average employee. However, a goal like “put a person on Mars” may grab their attention, and they’ll want to work on that groundbreaking project. There are some things that are important to do to create your own BHAG and make sure you achieve it.
- At the time there were 20 million Australians, so RedBalloon’s BHAG was set to “2 million experiences sold in 10 years”.
- SMART is an acronym that stands for Specific, Measurable, Achievable, Realistic, and Time-bound.
- No, these are the big, hairy, audacious, goals (BHAGs).
In 2006 at a press conference, Bill Gates reflected on the founding of Microsoft, the third most valuable company in the world. He pointed out that he and his friend Paul Allen set a goal unlike any. You decide whether or not they realized this BHAG; however, they are one of the dominating forces in the sportswear industry – and it seems that they have no intention to leave the competition. When Nike was first founded in the year of 1964, the company was trying to make a dent in the sportswear industry. Back in those days, all the industry was dominated by one giant company – Adidas. And they have been working to achieve this goal ever since.
And it is equally crucial that you know what you can NOT become best at. Your BHAG will serve as a guide for your organization as you move into the future. Therefore, it is important that it be grounded in and reinforce the fundamentals of your business. My daughter just got a pair of those shoes so I thought that it would be a good example. Real goals–big hairy audacious goals (BHAGs)–mean failure could happen.
In any case, a goal is something that should be moving you forward. If you aren’t, then that means that is not the right BHAG for you. Now, you aren’t supposed to stray off your own company’s line, but you can always aim high. There is no point in coming up with an enigma that aims low.
What if I don’t have a company mission statement?
Say no to corporate mumbo jumbo or long statements that are impossible to remember. You may even need to revisit your mission statement and company values to help keep you focused and inspired. Let’s look at some big, hairy, audacious goals examples so you can see what we mean.
Big Hairy Audacious Goal Examples (With Tips)
But if you want to set and achieve your core purpose, you can do so with BHAGs. BHAGs may seem unattainable, but even some of our wildest dreams have come true. One of the most famous examples is when John F. Kennedy announced America’s goal to land the first person on the moon by the end of the 1960s. This definitely qualifies as a BHAG because it seemed impossible at that time.
Don’t forget to review your Big Hairy Audacious Goal at every Annual Planning session and monitor your progress in your quarterly planning session. If you haven’t reviewed it with your team recently, you should add it to your weekly meeting agenda. These are the most traditional goals and therefore, the most common types of Big Hairy Audacious Goals that organizations set. The target represents something you’re aiming to achieve within a certain time frame.
Your company’s BHAG should be big enough to inspire the entire team and encompass the organization’s mission. Each type of BHAG has its own set of characteristics and challenges. Organizations can develop a strategic plan that aligns with their mission and values by understanding the different types. To empower people and businesses to achieve more through technology.
So make sure your goal is measurable, or else it wouldn’t be a helpful BHAG. This type of BHAG requires an in-depth understanding of the competitive landscape and your organization’s capabilities. It is essential to know what you want to achieve and how best to do it. It could be a company in the same industry or a completely different sector. What matters is that it serves as a source of inspiration and provides guidance in the organization’s efforts.
After the statement of a BHAG, no one has any questions in mind, and everyone knows what the aim is due to its clear nature. As your company grows and progresses, the possibilities are truly endless. So don’t be afraid to think big—and start dreaming big. Your big hairy audacious goal could be the spark that lights a fire of success. Well-crafted, target-oriented BHAGs can give the organization a unified purpose to drive its efforts forward.
The Hedgehog Concept
These goals should be ambitious and inspiring, representing the organization’s values and objectives. Creating BHAGs can jumpstart an organization and give it the focus it needs to achieve its goals. With a well-developed BHAG, teams can set their sights on overarching goals and work together to reach them.
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Because the goal is so big, hairy, and audacious, it energizes your employees. This energy means they are willing to put in the work necessary to see the BHAG come alive. Everyone within your company must feel motivated to work toward this end. Each person has a part in making this goal a reality and they need to understand what their role is in this undertaking.
Examples of BHAGs
You’ll need a great deal—even an unreasonable amount—of confidence that you can do something that outsiders may deem absurd or impossible. A BHAG isn’t a vague and verbose mission statement that no one can remember—it’s clear, compelling, challenging, and risky, while also reinforcing the core ideology. For business, your goal could be to get your product or service into every household in your community or 1 million downloads to your app within five years. Neither is a guaranteed win, but like The Little Engine That Could, you think you can, you think you can.
Setting a big hairy audacious goal (BHAG) can help ignite excitement in your team about their projects. A compelling BHAG can foster an environment of innovation supported by employees with a shared https://1investing.in/ commitment. A long-term goal also provides clear expectations and promotes collaboration between cross-functional teams. Goal-setting has long been a crucial cornerstone for product managers.