Unlocking the Power of Big, Hairy, Audacious Goals
As a product manager, setting goals is crucial to driving success. However, it can be challenging to unite all employees under a shared vision for the future. One approach that can encourage your team to give their best effort is setting a big, hairy, audacious goal (BHAG). A compelling BHAG can foster an environment of innovation, provide clear expectations, and promote collaboration between cross-functional teams.
What is a BHAG?
A BHAG is a visionary and compelling goal for the next 10-25 years of a company. It should feel intimidating, yet achievable if the company puts forth its best efforts. The concept of BHAG was introduced in the book “Built to Last: Successful Habits of Visionary Companies” by Jim Collins and Jerry Porras. A BHAG typically consists of four factors: big, hairy, audacious, and goal-oriented.
The Role of BHAG in Strategy
In terms of strategy, BHAGs can assist your organization with decision-making processes and focusing on priorities. They help prepare you for better long-term success. Setting a BHAG can increase motivation, define a vision aligned with your organization’s core purpose, and unite employees under a shared focus.
Types of BHAGs
There are four broad categories of BHAGs: role model, common enemy, targeting, and internal transformation. The one you choose depends on what will motivate your team the most. For example, your BHAG could be to emulate a successful company, surpass a competitor, or create a significant change within your organization.
Examples of BHAGs
Some notable examples of BHAGs include Google’s goal to organize the world’s information, Meta’s goal to give people the power to build community, and Apple’s goal to make every product carbon-neutral by 2030. These goals are bold, eye-catching, and make you question whether they’re really achievable.
Choosing a BHAG
Choosing a BHAG for your organization begins with brainstorming ideas that go beyond what you hope to achieve in the next 10-25 years. Consider your boldest and most intriguing ideas for the future before starting to work toward finding manageable steps to reach your BHAG. Ask yourself: Is it exciting? Is it clear, compelling, and easy to grasp? Does it connect with your organization’s core purpose?
Key Takeaways
A good BHAG sits between “This is impossible” and “it might be possible.” Creating such a goal can help energize employees and motivate them toward pursuing its achievement. A BHAG-driven approach fosters an environment where employees are encouraged to experiment and grow, leading to significant impact on their respective industries.