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Written Goals = More Success...Yes? or No?

by Rick Baker
On May 10, 2012

For many years, self-help and business gurus have cited a Harvard Business School study summarized as follows:

In the 1950's, Harvard interviewed students in the graduating class of its business program. They found 3% had written goals while 97% did not. Harvard followed up about 20 years later to measure the financial success of these students. Harvard found the 3% of students who had written goals were earning as much as the other 97% combined.

Many authors of self-help books and business-help books have cited this study. Sometimes the dates change. Sometimes it is Yale and not Harvard. Always, it's 3% written goals = 97% without written goals.

But...here's an eye opener. 

The fact is, there has been no such study...it is like an urban myth1.

So, with that huge-justification-for-having-written-goals myth busted...

Can we link written goals to greater success?

The simple answer is Yes.

Written goals help people achieve greater success.

We know this from everyday life:

  • we know it when we read a STOP sign
  • we know it when we make a grocery list
  • we know it when we mark a friend's birthday on our calendar
  • we know it when we make a reservation at a restaurant

When it comes to business and job success, we should have no doubt about it:

WRITTEN GOALS HELP PEOPLE ACHIEVE GREATER SUCCESS.

In business, we do not need astonishing 'facts' like 3% delivers 97%. We already have the 80/20 Rule. People can buy into the 80-20 Rule because we can illustrate it to them by digging into the facts of their roles and their businesses. When we make hyperbolic claims, like 3%=97%, people intuitively know we are talking about getting them in over their heads.

We need to be realistic when we talk about Goal setting

For business and job success the Top 2 questions leaders and planners need to ask are:

  1. What Goal Culture do we want? [What form will our written goals take? How much detail do we want in those written goals?, etc]
  2. How do we create and communicate that Goal Culture? [so people buy-in and people feel good about doing the Actions we desire]
 

Footnote:

  1. We know this because my friend, Lois Raats, and I are working on a 'time management' presentation. As part of our preparation work, Lois researched this topic and discovered the frequently-quoted Harvard study never happened.
  2. If you want to learn more about what people have written and placed in their websites about 'The Harvard Study visit Google and search "Harvard 3% success".

Tags:

80/20 Rule | Goals - SMARTACRE Goals | Questions?: The Art of Asking Good Questions

Thought Tweet #464

by Rick Baker
On Apr 26, 2012

Thought Tweet #464 If you want to develop more self-control, start by setting goals. 

 

The Thinking Behind The Tweet

No point getting chicken-and-egg bogged down thinking about what comes first - goals or self-control. No point debating whether or not there are values in goals. No point debating whether or not long-term gain justifies short-term pain. If you believe self-control is a valuable trait...then set a goal, focus on it, and work at it. [That's the way to build self-control and achieve goals.]

Tags:

Beyond Business | Goals - SMARTACRE Goals | Thought Tweets

Thought Tweet #456

by Rick Baker
On Apr 16, 2012

Thought Tweet #456 Intrinsic Goals feel right...they inspire & they energize.

 

The Thinking Behind The Tweet

Intrinsic Goals envision life purpose, mastery of task, and self-actualization. Naturally, intrinsic goals align with talents and Strengths. And, in contrast to extrinsic goals, intrinsic goals tend to broaden rather than restrict experiences. 

Thought Tweet #443

by Rick Baker
On Mar 28, 2012

Thought Tweet #443 Written Goals don't just help you set your work-priorities, they help you define your personal Values.

 

The Thinking Behind The Tweet
Values, Purpose, Vision, Rules, & Goals are not discreet, stand-alone concepts. They are intertwined. For most People, they are iterative-too...gaining more clarity with time. When you boil business down, its essence is People, Process, & Situations. People come first. People bring with them 'Character'...which, for each person, is a summing up of his/her Values, Purpose, Vision, Rules, & Goals. 

Setting Sales GOALS

by Rick Baker
On Mar 14, 2012

I have been thinking a lot about Goals, specifically B2B Sales Goals.

Over the last few years, I have met with and talked with many people who have struggled with B2B Sales work and failed to meet their B2B Sales Goals.

I do not think it is a coincidence that these B2B Sales struggles are happening at the same time social media activity is expanding exponentially.

Clearly, there is either a cause-and-effect relationship between these two phenomena or both these phenomena are the effects of a common cause. Either way, it is not a coincidence that 20th Century B2B Sales methods are faltering and failing in the 21st Century.

The 21st Century is a time of unleashed creativity and unprecedented self-expression...captured in real time, worldwide, via 'social media'.

In contrast, 20th Century B2B Sales methods are, for the most part, laced with pedantic formula-driven thinking and action.

20th Century B2B Sales methods just don't work any more.

And, the 20th Century goal-setting methods linked to B2B Selling just don't work any more.

Carrot-and-stick approaches to Sales performance are doomed to fail. That's true. However, the matter is either much simpler or much more complex than the choice of intrinsic versus extrinsic rewards for performance. 

Given the choice, and considering Ockham's Razor and other time-tested wisdom, let's choose - the matter is much simpler than the implications of intrinsic versus extrinsic rewards. The matter is about relationships....interpersonal relationships between buyers and sellers.

B2B Sales, if they result in exchange of [more-or-less] equal value always involve real interpersonal relationships. The best of these real interpersonal relationships, the ones that sustain over time and allow both buyers and sellers to prosper, are broader than the product or service in the hands. They are also deeper than the product or service in the hands.

It is that simple.

Tags:

Goals - SMARTACRE Goals | Sales | Seeking Simple!

Plan Your Work & Work Your Plan

by Rick Baker
On Feb 14, 2012

Some business people Plan Their Work & Work Their Plan. These people feel most comfortable when they have spent the time to plan before they act. These people feel confident because their plan-then-work approach to business has been successful. They expect there is a good chance success will repeat itself.

Other business people Take Each Day As It Comes. These people feel comfortable about their abilities and see no need to spend much time planning. These people feel confident because their day-by-day approach to business has been successful. They expect there is a good chance success will repeat itself.

There is one more group of business people: people who are not particularly comfortable or confident. They, for one reason or another, receive no particular forward-guidance or positive-direction from their past experiences. They feel, at best, acceptance of today's business-at-hand. Similarly, they feel, at best, acceptance of the fact they will experience tomorrow's business-at-hand. They feel no particular need to plan. They obtain no particular gratification from work actions.

Self-development experts and business gurus teach support Plan Your Work & Work Your Plan

I am not aware of any business guru who teaches Take Each Day As It Comes.

I have written a number of articles on this topic...for example, Strategic Planning - Why Bother!

I know, and am fascinated by, a very-successful business leader who favours Take Each Day As It Comes.

I learn everything I can about planning.

Here are a few things I have learned:

  • Napoleon Hill may have been the first to write the phrase "Plan the Work and Work the Plan"...in his classic self-development bestseller 'Think and Grow Rich' (1937).
  • Experts have identified 'Plan' as distinct activity linked to the pre-frontal cortex of the human brain....Executive BrainSmarts.
  • Planning provides an opportunity to think through the possible scenarios and possible actions before they are performed...optimizing the use of talents and skills...and developing a mindset that understands we are not limited to accepting circumstances and situations, to a degree we can create circumstances and situations.
  • There are many ways to approach planning: if you want to inject some creativity then I recommend Edward de Bono...for example, Six Thinking Hats.

 

Footnote:

I just re-read Brain Tracy's 2003 book GOALS! [and I recommend this book]

In GOALS!, Brian Tracy provides the following answers to the question - Why Plan?

  1. To Organize your thinking about the key issues.
  2. To think through the Actions before you begin.
  3. To allow thorough discussion in order to identify flaws and say What if?
  4. To identify weaknesses
  5. To identify Strengths and Opportunities
  6. To focus time and money on those 1 or 2 vital things that are essential
  7. To save Time, money, and Energy

 

Copyright © 2012. W.F.C (Rick) Baker. All Rights Reserved.