90 Day Sprints:
How to set & smash your company goals:🧵
How to set & smash your company goals:🧵
We've all been there...
A quarterly meeting discussing future initiatives, we leave excited & ready to take the company to new heights!
But, after initial excitement fades, no clear plan was set & nothing tangible happens.
The problem:
Bad goal setting.
A quarterly meeting discussing future initiatives, we leave excited & ready to take the company to new heights!
But, after initial excitement fades, no clear plan was set & nothing tangible happens.
The problem:
Bad goal setting.
Without strict timelines & named outcomes goal setting is reduced to a box checking activity.
To work, all goals MUST be:
1. Specific
2. Measurable
3. Attainable
4. Meaningful (h/t @dklineii)
Otherwise, goals become wishes, & we lose control over results.
To work, all goals MUST be:
1. Specific
2. Measurable
3. Attainable
4. Meaningful (h/t @dklineii)
Otherwise, goals become wishes, & we lose control over results.
First, set the stage...
During quarterly meetings, leaders should provide context to the bigger picture: 1, 5, & 10 year goals.
Next, identify issues preventing the company from inching towards those goals.
Each team member should leave with 3 90 day goals.
During quarterly meetings, leaders should provide context to the bigger picture: 1, 5, & 10 year goals.
Next, identify issues preventing the company from inching towards those goals.
Each team member should leave with 3 90 day goals.
Why 90 days?
A few reasons:
The timeline syncs well with accepted business periods - quarters.
Focus wanes around 90 days, so it's refreshing to set new goals.
Ambiguous timelines encourage procrastination.
So, how do we set quality goals?
A few reasons:
The timeline syncs well with accepted business periods - quarters.
Focus wanes around 90 days, so it's refreshing to set new goals.
Ambiguous timelines encourage procrastination.
So, how do we set quality goals?
1. SPECIFIC
Vague goals have built in safety valves as it's impossible to accomplish OR fail a non-specific task.
Avoid this by using names & numbers to describe goals.
The idea is max accountability through clarity & assignment.
Vague goals have built in safety valves as it's impossible to accomplish OR fail a non-specific task.
Avoid this by using names & numbers to describe goals.
The idea is max accountability through clarity & assignment.
2. MEASURABLE
There are 2 ways to measure goals.
1. Yes or No
2. With Numbers
Dealing in absolutes or numbers removes ambiguity about success -- and to what degree.
Not accomplishing a goal is okay, not knowing whether you did or didn't - is not.
There are 2 ways to measure goals.
1. Yes or No
2. With Numbers
Dealing in absolutes or numbers removes ambiguity about success -- and to what degree.
Not accomplishing a goal is okay, not knowing whether you did or didn't - is not.
3. ATTAINABLE
Goals should be right at the edge of ability, but not further.
Consistent failure can set a negative confidence cycle that can be difficult to recover from.
Conversely, success improves the chance of accomplishing future goals.
Goals should be right at the edge of ability, but not further.
Consistent failure can set a negative confidence cycle that can be difficult to recover from.
Conversely, success improves the chance of accomplishing future goals.
https://twitter.com/barrettjoneill/status/1483109483270205440
4. MEANINGFUL
Each 90 day goal should move the company closer to achieving its 1, 5, & 10 year goals.
To be effective, clearly demonstrate direct or tangential correlation to the larger picture.
Seemingly random goals leave teams uninspired & feel like micromanagement.
Each 90 day goal should move the company closer to achieving its 1, 5, & 10 year goals.
To be effective, clearly demonstrate direct or tangential correlation to the larger picture.
Seemingly random goals leave teams uninspired & feel like micromanagement.
With good & bad goals defined, let's look at a real example:
Last year, I noticed my company had a Cash Conversion Cycle (CCC) of 5.
Quickly, this means we're paying vendors 5 days before we get paid by customers - not ideal.
(Learn more here)
Last year, I noticed my company had a Cash Conversion Cycle (CCC) of 5.
Quickly, this means we're paying vendors 5 days before we get paid by customers - not ideal.
(Learn more here)
https://twitter.com/barrettjoneill/status/1487451447641870346
In a quarterly meeting we discussed our goal of acquiring competitors & real estate.
Cash is required for both, so we needed a better CCC.
90 day goal:
"To lower CCC by 5 days, Barrett will call business customers to negotiate 5 day improvement to payment terms."
Cash is required for both, so we needed a better CCC.
90 day goal:
"To lower CCC by 5 days, Barrett will call business customers to negotiate 5 day improvement to payment terms."
With my 90 day mission clear, I focused because I knew the next quarterly meeting would come fast - and how important cash is.
We smashed the goal & currently operate at -3.
Providing context & quality 90 day goals improves the chances of achieving big, long term goals.
We smashed the goal & currently operate at -3.
Providing context & quality 90 day goals improves the chances of achieving big, long term goals.
If you found this helpful please RT the 1st tweet so others can find it.
And follow me @barrettjoneill
I tweet about business & growth lessons I'm learning by building.
And follow me @barrettjoneill
I tweet about business & growth lessons I'm learning by building.
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