Aim Crazy High, Reach Insane Success: The Power of a BHAG

Visionary goals pave the way for crazy amounts of success.

That bit you already know.

We’ve all seen the power of them from a distance as we watch global business leaders claim lofty achievements.

But how did those people come up with such a big goal in the first place?

Well that's what we're going to dive into today... 

Even though I haven’t enjoyed the same level of success as them, I’ve always had big dreams.

(Except for that time in 2016 when I lost $600k. That one squashed my ego and eroded my confidence a little)

But thinking bigger has generally shaped my approach to business.

In fact, without a structured technique for goal setting, I wouldn’t be here. 

But I'm turning up the dial even further.

And I want to share a process I'm starting to use that helps drive crazy growth and invigorate team culture. 

It’s about setting a Big Hairy Audacious Goal, or BHAG. 

If you’re like me, you may have heard of it but never fully used it.  

Let’s change that to help you grow faster than ever…

The Essence of a BHAG

A BHAG is more than just a target; it is a north star that guides every aspect of your business strategy and operations.  

It’s an audacious 10-to-30-year goal of a new future.

 A clear and compelling vision that serves as a unifying focal point of effort. It also acts as a catalyst for building a magnetic team spirit.

Why a BHAG?

It’s usually a clear picture of a change you wish to see in the world. 

It’s powerful because it’s audacious and others want to contribute to achieving the same thing.

The right ones galvanise people and bind them together on the journey.

They're never a sure bet but it should be something you could actually pull off if the world aligned.

Benefits of Having a BHAG

• Direction: A BHAG provides a clear, long-term vision for the company. 
• Motivation: It serves as a consistent motivational tool for the team that pulls instead of pushes.
• Innovation: It encourages creative thinking and innovative approaches because achieving it isn’t clear.
• Recruitment and Retention: The best people want to solve lofty challenges. A clear, exciting vision helps attract and keep talented individuals.
• Culture Building: A BHAG helps build a strong and united company culture where everyone knows what they’re working towards.
• Performance: A big vision drives businesses to perform at a higher level.

The Anatomy of a Successful BHAG

Crafting a BHAG requires thoughtful reflection on what you want your company’s legacy to be. 

Consider the following as you put together your BHAG:

• Visionary: Your goal should be ambitious and inspiring for everyone (not self-fulfilling)
• Concrete: It must be more than a dream; it should have a clear finish line so pick a date in the future when you’ll achieve it - Say October 17, 2032 for example.
• Aligned: Your BHAG must fit within your company's core values and long-term strategy.
• Actionable: Break down the goal into actionable steps - What can you do this year to make progress? Then this quarter, this month and so on.
• Share it: You should be able to explain your BHAG in a sentence or two.

Real-Life BHAG Examples

SpaceX: Elon Musk set the BHAG to "Enable human exploration and settlement of Mars." This bold vision propels every decision and design at SpaceX.

Microsoft in the 1970s: Bill Gates’s vision was "A computer on every desk and in every home, running Microsoft software." This was when computers were still the size of rooms and exceedingly expensive.

Amazon: Jeff Bezos had a vision of creating "the earth’s most customer-centric company." It began with books and has expanded far beyond that.

Google: Aimed "to organise the world’s information and make it universally accessible and useful."

These examples demonstrate how a clear, audacious goal can not only direct the trajectory of a company but also revolutionise industries and consumer behaviours.

They’re pretty damn powerful when you get them right. 

So don’t rush it. 

It’s an iterative process. 

The journey toward achieving your BHAG should become part of your company’s DNA which means making time to talk about it. 

I’d love to know yours when you nail it!