The Million Dollar Goal
At the marketing agency where I previously worked, the owner once set an ambitious annual goal: to hit $1 million by the end of the year. This meant doubling or tripling the revenue by focusing heavily on sales and increasing the work we take on.
The only benefit shared with us was a potential company retreat in Hawaii if the company achieved the goal. There was no communication about how this growth would impact our roles or what benefits we'd receive beyond the offshore retreat.
My former colleague and I were reflecting on that year and we realized that neither him, nor me or any other team member was motivated by or invested in the goal. In fact, we were almost against it because it made us feel that hitting that goal would increase our workload significantly while our compensation would remain unchanged.
The Importance of Team Buy-In
Imagine a hockey team aiming to win the Stanley Cup. If only the captain is fully invested in the goal, the team’s chances of success are slim. Everyone, from the players to the coach and support staff, needs to be motivated and aligned with the goal.
In my previous company, it felt like only the owner was interested in achieving the annual goal. Without the team's buy-in, we didn’t come close to reaching that $1 million mark.
Clear and Purpose-Driven Goals
I read in The Culture Code that having a few clear priorities is crucial. The book highlighted a study where executives thought 74% of their team knew the top three priorities of their organization. The reality? Only 2% did.
This shows a common disconnect. Business owners often think their team is as invested as they are. At my former agency, we nodded in agreement to the million-dollar goal, but our commitment wasn’t there.
The Power of Purpose
Clear goals are essential. The million dollar goal was SMART (specific, measurable, achievable, relevant, and time-bound). However, there was neither a clear strategy discussed on how to achieve the goal, nor was there any communication around how our lives will improve if we achieve that goal.
SMART Goals without a clear strategy are nothing more than fantasies. But even if there is a clear strategy, there needs to be an inspired and motivated workforce to execute that strategy. This inspiration and motivation comes from Purpose.
When the purpose behind the goal resonates with the taskforce, the entire team starts behaving like it's on steroids. ‘Why’ is the single most important question to ask to define purpose. Why have we created this goal?
If my former agency wanted to hit a million dollar revenue milestone because it wanted to improve the quality of life of all its team members, would the goal have a higher chance of getting the buy-in from the team?
Purpose-driven goals, rather than just revenue-driven ones, get people excited. For example, a dentist aiming to treat a certain number of patients could instead aim to improve the self-confidence of 100 people through cosmetic treatments. This purpose-driven approach is more inspiring and fulfilling.
Motivation Through Impact and Culture
It takes a team of motivated and inspired people to make dreams come true. This motivation and inspiration come from two main things: being happy about the work the organization is doing and being happy about the way the work is being done.
First, people are more motivated when they know their organization is making a positive impact on the world. For example, working for the World Health Organization naturally brings a sense of pride and motivation. Similarly, a dental clinic focused on growing patients' self-confidence can inspire more commitment than one simply aiming for a certain number of new patients. Purpose-driven goals that make people feel their work is benefiting others are crucial.
Second, people need to be happy with the way the work is being done. This speaks to the importance of culture. While culture is a topic for another blog post, it's worth noting that a positive, supportive work environment is essential for achieving ambitious goals.
Communication and Clarity
Two elements are key when setting goals: having purpose-driven goals and ensuring everyone knows how their journey and lives will be impacted. This includes celebrations, incentives, and pay increases. It's crucial to communicate not just the end benefits but also how roles will evolve during the journey. For instance, winning the Stanley Cup requires increased work ethics and discipline. Similarly, an organization might need more productivity, feedback, and training. Clarity brings focus, and focus brings results.
How Clear Growth Plans Can Help
At Clear Growth Plans, we start by creating purpose-driven goals with business owners. We ensure frequent communication with everyone in the organization. This ensures they understand and align with the goals. We establish a clear strategy and communicate what the goal is, why it’s important, who plays key roles, and how lives will change during and after achieving the goal. These steps are fundamental to helping business owners achieve their growth ambitions.
Conclusion
Having your entire organization invested in your company goals is crucial. When your team buys into the vision, the journey towards success becomes a shared and rewarding experience.
