In his book Built to Last, Jim Collins, one of my favorite authors, introduced me to the concept of a BHAG (a Big Hairy Audacious Goal). He identified a BHAG as a powerful way to stimulate progress through its clarity, its power, and its balanced approach to long-term vision coupled with a short-term and relentless sense of urgency. In doing so, Collins was particularly focused on organizational success. But can this concept be applied to circumstances other than the large companies - Boeing, NASA, Sony, General Electric - that Collins writes about? My answer is a clear yes (otherwise I would have nothing to write about). I see immense power for both my coaching and consulting clients in defining their own BHAGs.
Let me give my own view of what a BHAG needs to look like. First, it should be truly BIG and AUDACIOUS. So far that's got to be a disappointing expansion on Collins' concept! However, a common challenge I see with too many clients - individuals and organizations alike - is small thinking and (perhaps) an unconscious comfort in not straying too far from the familiar or reassuring realities of their current state. They are not willing and/or able to push the boundaries of their vision. This can be expressed in a variety of ways, like "We can't predict the future!", "That will never happen.", "We don't have the resources to do that.", or "I/we don't have the skills, abilities or talent to achieve ____________."
Now I'm not saying to simply pursue some dream that is a function of seeing the world through rose-coloured glasses. That can be a recipe for (rapid) failure. A BHAG must be grounded in some sense of reality and realistic self-assessment. However, it must also push you to the next level of possibility. It must cause you to stretch your skills and abilities. It must challenge your limiting beliefs and realities. In my estimation it has to be equal parts exciting and terrifying. It can't be accomplished with your current way of thinking or doing things because that's the equation for complacency and mediocrity.
Let me give you my personal examples to try to illustrate the power and benefits of BHAG thinking. I'll start with my business example first. Just over 12 years ago I was involuntarily reintroduced to the job market through a reorganization. A not uncommon experience for many these days - and perhaps much more normal given the tumult of threatened tariffs and rapidly changing technology in our world. That began my journey as a consultant (first) and coach (second and now strongest calling). At the time, I set a target of $250,000+ in annual gross billings. The intent and hope was to recapture what I had just lost through termination of employment. My business plan at the time was predicated on that target, that BHAG. In reality, I had NO IDEA how to be a successful consultant or coach, having devoted the previous 25+ years of my life to an entirely different career path. While I may have had a BHAG in the form of a revenue target, it was ungrounded in the reality of my skill set and knowledge at the time. But having that target - and a need to continue to provide for my family - drove me to learn, network, and develop a set of skills necessary to succeed. It definitely drove me out of my comfort zone.
That's not where it stops, however. One of the potential challenges with a BHAG is plateauing once that big goal is hit. What next? The challenge, therefore, becomes setting the next BHAG, and the next. It's not to say you can't be happy with your achievements, but there are a couple of realities at play here from both a personal and business perspective. First, standing pat is not a winning strategy in today's world. There are always new realities working to overtake you. There are also new and evolving expectations on the part of your target market. Unless you are close to retirement, coasting is not an option. In order to sustain success you must be continuously investing and reinvesting in what and who you are. Second, I believe we all need that creative edge and spark to keep our work engaging and fulfilling. Simply engaging in the "routine" tasks loses its appeal after some time. We can become disengaged from what and why we do things, which I believe has a deleterious impact on the quality of work we produce for our clients. Third, the establishment of the next BHAG stretches your thinking - what got you here won't get you to the next level. The BHAG enforces self-evaluation and creativity.
For this reason, I don't see BHAG as being singular. Rather, there is and should be an evolutionary flavour to BHAGs - success lays the foundation for the next impossible goal. This new stretch goal builds on our learning in the first or previous round of achievement and can provide us with the confidence that the next impossible goal, while audacious, is achievable. I've moved from the $250,000+ revenue goal to multiples thereof, and am now pushing myself to think differently about what a multi-million dollar venture might require of me.