As I wrote in my recent piece, Is Goal-Setting Just A Bunch of Hype? the process of setting goals promises great things for companies but often falls short. However, when done correctly, goal-setting can be a game-changer, especially for businesses in a scale-up or international expansion phase. Over the past 12 years of building Dearin & Associates from the ground up, I’ve learnt firsthand what it takes to make goal-setting work. Here are five key strategies to ensure your team benefits from this powerful practice.
1. Embed Goal-Setting into Your Team Culture
At Dearin & Associates, goals aren’t just a once-a-year exercise—they’re woven into the fabric of our company. We set yearly, 120-day, monthly, and even weekly goals. Here’s how our process works:
- Annual Planning: Each December, we meet as a team to reflect on the past year, revisit our vision, mission, and values, and set new goals. We celebrate wins, analyse what worked (and what didn’t), and decide what we want more (or less) of in the coming year.
- Strategic Projects: We review completed projects, assess unfinished ones, and brainstorm new initiatives. The team votes on the top 10 ideas, and we calendarise them, selecting up to three to tackle in the next 120 days.
- Big Rocks: Our major goals—what we call “Big Rocks”—are clearly defined with success criteria, deadlines, and accountable team members.
- Weekly Check-Ins: Every week, we review progress on our Big Rocks to stay on track and maintain momentum.
By making goal-setting a continuous, structured process, we ensure it remains a driving force in our business rather than just an aspirational concept.
2. Measure Progress and Stick to the Process
- Weekly Goals: Every team member sets weekly targets based on leading indicators (Critical Drivers) and lagging indicators (Key Performance Indicators).
- Friday Check-Ins: We review our Critical Drivers and KPIs as a team every Friday, ensuring that day-to-day work aligns with our broader 120-day goals.
- Recognition and Rewards: At the end of each month, we celebrate the team member who performed best against their KPIs.
3. Set Achievable, Yet Stretch Goals
I used to subscribe to the idea of setting wildly ambitious goals—”shoot for the stars so you can reach the moon.” But I learnt the hard way that unrealistic goals can be demoralising.
Early in my business journey, I constantly set targets that were beyond our capabilities. Instead of motivating the team, it led to frustration and disappointment when we repeatedly fell short.
Now, I follow the principle of walk before you run. Over time, we have also learned to break large, ambitious projects into smaller, discrete projects that we can complete within a 120-day period. This approach helps the team stay focused and motivated because they can see tangible progress along the way. Instead of feeling overwhelmed by a massive goal, they experience the momentum of completing meaningful milestones, which keeps morale high and builds confidence in our ability to deliver results.
4. Create Consequences for Success and Failure
If there are no real consequences—positive or negative—goals can lose their impact. That’s why we build accountability and incentives into our goal-setting framework.
- Documenting Consequences: Each project board includes the consequences of achieving or missing our strategic goals.
- Team Incentives: We offer a small monthly prize for the individual who performs best against their KPIs and a bigger reward for the entire team when we hit overarching strategic goals.
These incentives keep everyone motivated and focused on delivering results.
5. Align Goals with a Bigger Vision
Finally, goal-setting isn’t just about hitting numbers—it’s about driving meaningful progress for the company and its people. At Dearin & Associates, every goal ties back to our broader vision, ensuring that the team understands why their work matters.
When goals align with a compelling mission, people feel more connected to their work, making them more likely to stay engaged and committed to achieving success.
What’s your experience with goal-setting? Have you found strategies that work particularly well for your team? I’d love to hear your insights!
