Since its launch in 2014, I have been working full-time with Little Indians. Because no one is all-knowing and I want to grow personally and professionally, I like to go to seminars. (such as Mow Gawdat ( Ex-VP Google therefore really a bit starstruck.
As mentioned above, I also read a lot of books. From Shoedog by Phill Knight to crime books. (Sorry, a little tap). In addition, in 2017 I was a member of the Entrepreneur Organization, the accelerator group that wants to grow their company with like-minded entrepreneurs.
You are in a group with 8-10 entrepreneurs. All entrepreneurs are driven and come from different industries, but ultimately the basis of every company is the same with the same pillars needed to achieve growth.
Within the Entrepreneur Organization, you and a group are held accountable for a number of objectives that you set yourself. And one of the goals is your Big Hairy Audacious Goal. A term coined by James Collins and Jerry Porras. They wrote about this in their book 'Built to Last: Successful Habits of Visionary Companies'. But what does it mean, and how do you create such a big, hairy goal? Here's a little explanation.
What is a BHAG?
You pronounce it Bee-heg and very simply explained it is a big, audacious goal for 20 to 25 years. Most companies focus on the short term that you will achieve within 1 to 2 years. But it's always good to see the bigger picture. Litte Indians' BHAG is a big, measurable dream. A dream that inspires you but at the same time perhaps also frustrates you a little. A goal that makes you happy, but that is so big that you might think: How are we ever going to achieve this?
Why a BHAG?
No company has ever become great without a vision. By setting a Big Hairy Audacious Goal you have to look at your company differently. And there is not a single strong brand in the world that does not have an ambitious vision of the future. Just think of Apple and Nike or in the Netherlands of Coolblue and Rumag. Every employee complies with the vision and mission of the company.
What requirements must a BHAG meet?
When you are working on your BHAG, dare to think big and dangerous. Make it as clear and concrete as possible so that when employees join, everyone knows what the goal entails. It really has to be a bold goal aimed at the future.
To get an idea of what good examples are, here are a few examples:
- Tony Chocolonely goes for 100% slave-free chocolate.
- Toms Shoes' mission is to provide one pair of new shoes for every pair of shoes sold, to restore someone's eyesight for every pair of sunglasses sold and to contribute to a safe birth for mother and child in need for every bag sold.
“A true BHAG is clear and compelling, serves as a 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
Do you also want to draw up a BHAG? Here are a few tips and tricks.
Close your eyes. What is your dream for your company? What would you most like to achieve?
2. Write it down
What is your BHAG? Is this 50 – 70% feasible? Does it make you uncomfortable? Yes? Then it's good! Continue to step 3. If your BHAG is too easy or too difficult to achieve, adjust it again. Discuss it with others (preferably colleagues) and challenge yourself to double the goal but at least think big.
Is it clear when your BHAG was achieved? Is there a deadline and numbers attached to it? For me, this would be: 'Before January 2022, I want to have sales points in x countries with x number of customers and x number of webshop orders.
What if you actually get your BHAG? Then I attach a reward to it so that I am rewarded for striving towards the goal. And what if I don't make it? Usually I get a step in the right direction and this motivates me to continue.
5. Speak up!
Dare to say BHAG For yourself but also for the people who work for you.
Good luck with the drafting and if you want any tips, feel free to send me a message.