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In addition to your SMART goals you need to set yourself a BHAG (pronounced BEE-Hag).
The concept of a BHAG was dreamt up by Jim Collins and Jerry Porras in their best selling book Built to Last: Successful Habits of Visionary Companies.
BHAG stands for Big Hairy Audacious Goal and it is something that Collins and Porras discovered was at the heart of almost all companies that lasted over the long term.
On the flip side they discovered that most companies that don’t have a BHAG tend to flounder along the way, ie. They don’t last over the long run.
So, what exactly is a BHAG?
Leo Burnett, the famous advertising executive, said “If you reach for the stars, you might not quite get one, but you won’t end up with a handful of mud, either.” Well your BHAG is like the stars. You might never reach your BHAG, but by always shooting for it you will create a forward momentum that helps you to get a lot further than you could possibly have done without having your BHAG.
Your Big Hairy Audacious Goal can be absolutely crazy and almost totally unattainable. It might be to be the richest man in your town, the best-selling author in America or it could be a business goal such as 100% increase in productivity for three years in a row or the best company in the world for mega-widgets.
As long as you have your SMART goals to keep you focussed on your short to medium term objectives you can have a BHAG that lets you shoot for the stars. You might only ever reach the moon, but if you didn’t have your BHAG you might not even have achieved lift-off.
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