Let’s Climb a Ladder
Updated: Sep 28, 2020
Strategies to Outline Your Goals & Grow Your Practice
Goals, Goals, Goals!
Let’s start with New Year’s Resolutions. Did you know that 80% of resolutions fail by mid-February? (Inc Magazine) Now, I think 2020 is the exception (e.g. my resolution was to get out more - clearly that didn’t happen!), but their failure can also be traced to a common theme: goal planning. Goals are important! In fact, we’ve mentioned goals 51 times in our blogs since we launched in January! Our entire methodology - The Adam Kae Way - is centered around goal setting. Countless books, articles, and companies have been created to aid in goal setting.
Did you know that 80% of resolutions fail by mid-February?
Why Goals Fail
High expectations are a good thing, but there is such a thing as too high! Perhaps you’ve created a goal without considering the smaller goals and the ensuing steps for your achievement. We’ll cover this more - keep reading!
Not Tracking Your Goals
We have a few tricks up our sleeves to effectively track your goals. Tracking helps you celebrate small victories as you inch closer to your goal!
A Small Failure Means a Total Failure
Ever try going to the gym for a week, skip a day, and then stop going? Like any habit, getting back on the bandwagon after falling off is an important aspect of reaching your goals!
Goal Setting Theory of Motivation
Let’s start with some history! Sorry, we’re nerds! 🤓
They agreed that the hard part of goal-setting isn’t the goal itself, but rather, the discipline required to achieve it.
Latham and Locke had many thoughts on goal-setting. They agreed that the hard part of goal-setting isn’t the goal itself, but rather, the discipline required to achieve it. Locke even went so far as to define what should be included in a goal. Locke said goals should have:
Task complexity - Breaking Down Big Tasks into Smaller, more Manageable Ones
Locke’s theory inspired the SMART goal method of goal-setting. Let’s break down how to create SMART goals:
Your goal should be specific. The more detail, the better! This will help you understand exactly how your goal is achieved. Ask yourself:
What is the goal?
Who is involved?
What resources do I have to complete this goal?
Sometimes you can’t achieve all of your goals at once, so it’s important to measure each aspect of your goal as you work!
Part of being specific is understanding exactly how to measure the specificities. Ask yourself:
How will I know this goal is complete?
What are my KPIs (key performance indicators)?
KPIs are very important! After your time boundary, even if you’ve achieved some of your KPIs, you can still feel a sense of achievement. Sometimes you can’t achieve all of your goals at once, so it’s important to measure each aspect of your goal as you work!
This is where we circle back to thinking too big. It’s okay to have big goals, but also be sure to manage expectations! Here are a few questions to ask yourself:
How will this goal be accomplished?
What restraints do I have that could hurt me from completing this goal?
Another important concept is to understand that people want different things out of goals. For one person, they want a goal they know they can achieve if they do X,Y,Z or put in X% of hours. For others, they want a goal that is barely attainable. Understanding which of these categories you fall under will help you design your goals accordingly.
Make sure you’re setting goals that will actually make a difference in your practice! Here are a few questions:
Why does this goal need to be completed?
What would happen if this goal is not completed?
Am I the person who can make this goal happen? Is anyone else involved?
Is this the best time to complete this goal?
Keep your vision and mission in mind when you’re creating these goals. One way to develop your mission is to find your hedgehog!
If you’re running a race, you know where the finish line is. Goals are the same - you need to know where the finish line is! Depending on the size of your goal, your answers to these questions may change over time, so it’s important to remain flexible.
What is the start and end date of this goal?
What parts of this goal could be completed in a month? A year?
It’s time to structure your SMART goals. Want help? Check out this worksheet.
BHAG (pronounce Bee-Hag)
We just talked about goals being too big, but that’s the point of BHAG! With a BHAG goal, it is so enormous that a sense of urgency is created for you to work toward it constantly. Leigh Buchanan, editor-at-large of INC magazine says that BHAG goals should take at least a decade!
With a BHAG goal, it is so enormous that a sense of urgency is created for you to work toward it constantly.
BHAG goals are great for people who love goals that are barely attainable. If this is you, BHAG might be a great goal-setting tool! BHAG is a central vision that your entire team can get behind. A BHAG is a great way to unite your team behind a singular goal. (Check out our post on team engagement for more ideas about banding your team together!)
Creating Your BHAG
Does this make your company go forward or backward?
Does it inspire momentum?
Does it inspire your team?
The 4 Categories of BHAG
Jim Collins (they guy who created the Hedgehog concept) named these 4 categories of BHAG.
Using a Role Model
A role model is the company you want to be. Blockbuster decided too late that it wanted to be Netflix, but companies like Disney+ have adopted aspects of Netflix's model.
Using a Common Enemy
Perhaps this is the opposite of the role model concept. For example, your common enemy might be the dentist down the street (we hate that guy, too) that you’ve competed with for years.
Your goal might just that you want to be #1. Whether that’s #1 in your city, state, or region, you might take this goal and work toward it!
Sometimes, it’s best to look inward. Perhaps you want to surround yourself with the best staff in the state, so you aggressively work to hire the best talent you can.
It’s time to create your BHAG - check out this worksheet.
The OKR method is especially helpful when you’re implementing your strategy.
No, we are not saying “okrrrrr” the Cardi B way! OKR stands for Objectives & Key Results, and it is yet another way to plan goals for your practice. The OKR method is especially helpful when you’re implementing your strategy. Let’s dig in!
You know this by now - you have to have a goal! This is kind of like you BHAG, although it may be smaller and achieved in a lesser amount of time. Ask yourself “Where am I going?” to identify your objective.
Similarly to SMART goals, it’s important to have a metric to measure your progress. You can have many metrics for one goal, too! Ask yourself “How do I know I’m getting closer to my goal?” in order to find your key result.
Initiative is a bit different from any of the other tools we've mentioned. It’s a way to break down your objective into more manageable goals. You can measure the effects of your initiatives with metrics, too! Ask yourself” What will I do to get to my objective?”
3 Golden Rules of Goals
1. Make a Process
Creating a written, organization-wide process could be a golden ticket to your success. You don’t have to write down every step of every department, but understanding how information flows throughout your practice will help:
Simplify Complicated Processes
Help You Visualize Bottlenecks
2. Track Your Progress
There are myriad tools and guides that can help you track your progress! It doesn’t have to be a large time or money investment, either. Start with creating an Excel document, and elicit the help of your team to tweak and adjust along the way.
3. Share Your Goals
Your goals are something you should be proud of! Share them with your shareholders, investors, team, and even your customers! By showing your practice’s stakeholders that you’re dedicated to growing your practice to provide the best care to the most patients, your company brand image will improve and inspire those around you.
At Adam Kae & Associates, our goal is to help you with your goals. What’s one goal of yours that you’re trying to achieve? Let’s set up a complimentary Deep Dive and explore how we can create a strategy to reach your goal and grow your practice!
Too much reading? We understand! Here’s an infographic:
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