Updated: Feb 25
“Begin with the end in mind.”
— Stephen Covey
According to Bain & Company Consultants, only about 10% of firms that set 2x revenue goals and 4x profit goals over a three-year period actually achieve them. When questioned about the failure to meet these goals, 85% of the reasons given are attributed to "internal" issues such as unclear goals, lack of clarity around primary roles and responsibilities, confusion with priorities, no sense of urgency, scattered focus, and so on.
Here are some suggestions individuals and firms can use to overcome some of these internal obstacles:
1. Crystalize your thinking about your really important growth goals and write five reasons each goal is important to you. These powerful "reasons" will help you get through difficult times.
2. Clarify where you are right now. What are the driving forces propelling you towards your goals and what are the restraining forces hindering your forward movement?
3. Construct a blueprint for continued success. Prioritize the actions you want to take to enhance your driving forces and to reduce or eliminate the restraining forces. Then execute on your plan.
4. Commit to getting help in your journey. Consider retaining a coach, mentor or accountability partner to walk with you on your success journey. Sometimes a second set of eyes can "see" opportunities and obstacles before we do.
Using these simple but effective steps will help avoid common internal obstacles that sabotage goals and limit growth. Crystalize, Clarify, Construct, and Commit and success is not only achievable, but inevitable.