The Power of Goals Setting

Goals, particularly those that are written down, possess an explosive power to bring dreams to life.

Nowhere was this better illustrated than among students at Yale University in Connecticut, USA during the early fifties. At the request of their governing body, the students were invited to fill in a survey that stretched to well over 200 pages.

Redefining the word ‘exhaustive’, the survey covered everything from their views on education to political attitudes. About the only it didn’t cover was sex. Hidden away in an unobtrusive corner of the survey was a segment on goals. No one paid much attention to it at the time. The seemingly innocuous section simply asked whether each candidate had:

1. Set out goals for their future
2. Written them down

And that was that. The questionnaires went back into a cupboard for 25 years and gather dust on some very large shelves. In the mid-seventies, someone at Yale remembered the survey. For the sake of completion, the governing body commissioned a follow-up report, contacting the (now middle-aged) students to see how they had got on. The results had the force of a nuclear explosion.

Analyst found that the 10% of students who had set goals for themselves were more financially successful than the other 90% put together.

Then came the real revelation. Only 3% of the students had written their goals down. This tiny minority had acquired TEN TIMES greater wealth than the other 97% put together. These same students were also healthier, happier and far more fulfilled in their relationship with their partners.

And you are still wondering why you should set goals!!!

SMART Goals

Each goal you create should be SMART: Specific, Measurable, Attainable, Relevant, and Timed with a deadline. Let’s clarify the concept of a SMAR'T goal.

Specific. The goal must be clearly defined with parameters that state who, what, when, where, and how. Specific goals help you stay focused on one thing at a time. For example, stating that you want to become a member of a networking group is fine, but you can define your goal more clearly by saying that you want to become a member of a specific chamber or a particular association.

Measurable. The goal must include a way of measuring the results. This typically means that there is a number associated with the goal, such as how many or what percentage—some quantifiable way to measure progress toward the goal. Stating that you want to receive more referrals this year is neither specific nor measurable; it’s more useful to say specifically that you want a 30 percent increase to your referral business from a networking group.

Attainable. Each goal that you create must be within reach. It should not be so far-fetched that it’s out of your vision. To determine whether a goal is attainable, consider what you accomplish this year. Then consider what you have coming up next year that may either impede or improve your ability to meet a specific goal. Finally consider everything that needs to be done to accomplish your goal. When all is said and done, do you honestly feel that with hard work, dedication, and focus, you can meet this goal. If so, write it down and commit to achieving it..

Relevant. The goal must have relevance and meaning for you; otherwise, you will not be motivated to accomplish it. What will be the outcome if you meet a particular goal? Will you make more money? Will you have a higher quality of life? Will you be able to save for retirement more comfortably? Will you get a promotion or a raise? Will you save time in the long run? Whatever your personal motivation, ensure that your goals tap into it. Doing so will inspire you every day to keep striving toward the finish line.

Timed. Speaking of a finish line, the goal must have a deadline or completion date assigned to it. Without one, You will lose your focus and your desire to meet your goal in a timely manner. Our human competitive nature draws us to the finish line. We need to aim for a target. For example, stating that you want a 30 percent increase in your referral business from your participation in a networking group is indeed specific and measurable, but how long will it take, and when will you measure it? Stating that you want a 30 percent increase in your annual referral business from the association by December 31 will be much more effective, because it contains a deadline.

When you put all of these elements together, you might end up with a goal statement that looks like one of these:

I will become a member of the ABC Chamber by June 30
I will achieve a 30 percent increase in my annual referral business from networking in (a certain networking group by December 31).

Organize Your Priorities

We all have a lot we want to accomplish and don't know where to start. You want it all and you want it now. Where do you start? You're going to have to choose to do one thing first. You may be able to solve more than one problem at a time, but if you try to tackle them all at once, you'll be overwhelmed. You have to put your objectives in order of importance and plan to start at the top of the list.

Whether you have 3 goals or 30, you have to assign an order to each goal, putting the most important at the top of the list. Only you can decide what that order will be. Examine each one and choose which is most important and should come first. The more time you put into prioritizing now, the more time and energy you'll save down the road.

Prioritizing your goals will clarify which ones demand your immediate attention and which are not quite as urgent. All goals are not created equal, so sorting them out is essential. To achieve success, you need to know what you're aiming for. In order to get what you want, you first must clarify what it is you want and in what order you want it. And it is also essential to do this exercise on paper (or computer), it will improve significantly the probability of you taking the necessary follow-up actions to achieve the goal.

Goal Obsession: The Good Samaritan

A classic example of the adverse consequence of goal obsession was the "Good Samaritan" research done by Darly and Batson at Princeton in 1973. In this widely-referenced study, one group of theology students was told that they were to go across campus to deliver a sermon on the topic of the Good Samaritan. As part of the research, some of these students were told that they were late and needed to hurry up. They believe people would be waiting for them to arrive. Along their route across campus to the chapel, Darly and Batson had hired an actor to play the role of a "victim" who was coughing and suffering. 90% of the late students in Princeton Theology Seminary ignored the needs of a suffering person in their haste to get across campus. As the study reports, " Indeed, on several occasions, a seminary student going to give his talk on the parable of the Good Samaritan literally stepped over the victim as he hurried on his way!"

What's the implication of this study on our own focus on goals? Do our drive to achieve our goals overwhelm the principles of mutually-beneficial relationship, clients' interest and family harmony? We have to ask ourselves "Am I achieving a task at the expense of our values and longer term aspirations?"