There’s a common thread that unites the most successful leadership teams and the most successful companies in the world: they all have a habit of regularly setting and achieving both short-term and long-term goals for the business, and are constantly working on a path that helps them achieve those goals.
It’s not always easy for entrepreneurs to think about long-term goals when they are just getting off the ground. All too often, business coaches find that new business owners easily lose focus on what we refer to as the “shiny stuff” – a new idea, new product or poor advice that seems great at the time, but quickly loses its luster down the road. Getting bogged down by false opportunities and other forms of misdirection quickly gets a business off track. Organizations of all shapes and sizes need clear, defined goals that are shared by everyone and that excite and motivate individuals to work toward them.
Business coaches, and particularly EOS Implementers, teach leadership teams to set a 10-Year Target ™ by meeting together and discussing where they want to take the organization. It’s not always an easy process, and it may take more than one session to nail it down. When done correctly, however, it’s an incredibly valuable exercise for organizations that offers long-term benefits.
The 10-Year Target is different than the shorter goals the business may set for itself throughout the year or business cycle. The 10-Year Target is the larger-than-life goal that everyone works towards, and is the ultimate goal of the business. It has to be specific and measurable, and must ignite passion, excitement and energy for every single person within the organization.