The importance of goal-setting and planning for success

The importance of goal-setting and planning for success

The journey of personal growth and professional development hinges on well-defined goals and meticulous planning. Setting tangible goals and committing to the path toward them is crucial for realizing your full potential and making a difference in your chosen field. This article explores the vital interplay between goal-setting and planning, showcasing the invaluable ‘Make Goals FAST’ methodology, an innovative approach developed at MIT.

By setting specific, measurable goals and creating a comprehensive plan for achieving them, we can maintain focus, stoke motivation, and stay on course towards achieving our aspirations.

By setting specific, measurable goals and creating a plan for achieving them, we can stay focused, motivated, and on track toward achieving our desired outcomes.

The difference between goals and journey

Goals and journeys, though seemingly similar, exhibit distinct dynamics. A goal is a destination – the final result you wish to accomplish, while the journey represents the path leading to your goal. Consider someone aiming to complete a marathon. The goal is obvious, but the journey involves various components, like developing an extensive training schedule, overcoming physical and mental challenges, and ultimately, reveling in the satisfaction of accomplishing a daunting goal. The journey amplifies the value of the goal and unveils opportunities for personal growth and self-discovery.

Setting precise, attainable goals supported by a robust plan is vital for maintaining focus and motivation. This principle extends to personal aspirations, professional targets, and organizational objectives. A substantial plan should include the following:

Adopting this approach ensures continuous movement towards the goal, fostering motivation and growth.

Introducing the ‘Make Goals FAST’ methodology from MIT, a brainchild of Dr. Donald Sull and his team, this framework underscores four fundamental aspects of effective goal-setting:

The Make Goals FAST framework

The Make Goals FAST framework from MIY, the brainchild of Dr. Donald Dull and his team, emphasises four fundamental aspects of effective goal setting:

An illustration featuring the four principles of Make Goals FAST: frequent discussion, ambition, specificity, and transparency. Each principle is represented by an icon or symbol, such as a speech bubble for frequent discussion, a rocket pointing upwards for ambition, a target with an arrow in the center for specificity, and an eye wide open for transparency. The illustration emphasizes the importance of effective goal-setting and planning for success in all life aspects.

An illustration encapsulating the four principles of Make Goals FAST: frequent discussion, ambition, specificity, and transparency, underscores the importance of effective goal-setting and planning for success in all life domains.

Illustration from ‘With Goals, FAST Beats SMART’ from https://sloanreview.mit.edu/article/with-goals-fast-beats-smart: Donald Sull and Charles Sull, June 05, 2018

The ‘Make Goals FAST’ methodology highlights the importance of goal-setting and planning, driving success across various life scenarios.

Practical tips for effective goal-setting and planning

In conclusion, goal-setting, professional and personal life journeys, and planning are essential for success in all aspects of life. By setting specific, measurable goals and creating a plan for achieving them, we can stay focused, motivated, and on track toward achieving our desired outcomes.

The Make Goals FAST methodology provides a proven framework for effective goal-setting and planning, incorporating frequent discussion, ambition, specificity, and transparency principles. By following these principles and incorporating practical tips for effective goal-setting and planning, we can achieve success and fulfillment in all aspects of life.

Why do some high performers fail in managerial roles?

Why do some high performers fail in managerial roles?

Whether you work in the private or public sector, you have seen many top performers underperform upon promotion to a managerial position.

Why do these top performers fail as managers?

Frequently, these individuals focus primarily on administrative tasks to provide weekly and monthly reports. This approach sets these top performers on a course of failure.

The reasons may vary from person to person and from organization to organization; one can lack organizational succession preparedness and individual self-awareness, or a combination of multiple factors may apply.

Many organizations and managers promote their best employees without equipping them to take on new roles. Some organizations, by default, and based on the skills demonstrated in the previous position, assume that top performers have the competencies to manage and provide little management training. Frequently, these individuals focus primarily on administrative tasks to provide weekly and monthly reports. Unfortunately, this approach sets these top performers on a course of failure.

A couple of years ago, I spoke with a former colleague whose company enrolled him in a succession plan to shadow a top executive. His succession preparation took one-plus years of leadership and management training while performing his day-to-day functions/role. In addition, the company required him to develop the competencies and skills needed for the position. Recently, he was promoted to a senior leadership role.

An organization without a succession plan may suffer irreparable damage if it fails to foresee or adequately fill a gap left by emerging business needs and the departure of a key player. A well-crafted succession plan helps ensure your organization is prepared and ready to deploy the right leaders and managers. Leaders and HR organizations should anticipate and implement methodologies and tools to identify and assess internal competencies and employees’ potential to assume new leadership roles. Yet, we see many being more reactive than proactive.

Effective team development

Managers in all fields and levels must be agile in developing and acquiring the complementary competencies and skills needed to lead team members.

Managers in all fields and levels must be agile in developing and acquiring the complementary competencies and skills needed to lead team members.

Most new managers join teams and inherit skills available by the existing workforce. Some prefer to develop their team from the ground up, and others must assimilate into the current workforce and strengthen skills that are from their team. While the managerial toolkit includes problem-solving, decision-making, technical skills, functional expertise, interpersonal skills, and self-awareness, incoming managers must simultaneously and quickly identify, assess, develop, and incorporate these skills within their teams. 

New managers self-awareness

Individuals who assume managerial functions should understand themselves and the immediate work environment, including external driving forces, as this will help them coach and efficiently and effectively lead their team. 

Managers must be fully able to identify, interpret, and regulate their behavior and understand their impact on others. Therefore, self-awareness is a prerequisite competency for successful performance in a managerial role. For this reason, individuals who assume managerial functions should understand themselves and the immediate work environment, including external driving forces, as this will help them coach and efficiently and effectively lead their team. 

Low productivity, a frustrated workforce, and a high turnover rate are a few problems that arise due to poor management and leadership. Therefore, leaders and organizations must generally develop an environment conducive to self-awareness and invest in resources to help managers strengthen a growth mindset that pays forward to increase the pool of high performers.

Setting up yourself for success in a management role

The below points are recommendations and not a prescription. 

1. Encourage your organization’s leadership to cultivate principles, values, and competencies that maximize the productivity of its workforce in performed roles. Principles, values, and competencies should be a fundamental part of an organization’s culture to achieve greatness at the individual and byproduct at the organizational level.

2. Align candidates’ and employees’ innate talents to corresponding responsibilities. It is the simplest way to increase peak performance in any employee as friction with the role and individual inborn talents are minimum to no existing. 

3. Motivate new managers to enhance their performance through self-awareness. People with a high level of self-awareness can seize opportunities to be more effective while being aware of their blind spots.

4. Emphasize the importance of specific soft and hard skills to succeed in the new role and provide training where gaps exist. Hard skills such as technical knowledge to perform a particular task is less effective in an environment where collaboration is paramount. The individual needing more soft skills such as communication, time management, and critical thinking, to mention a few, can create unnecessary conflict and reduce productivity. Conversely, individuals with strong soft and hard skills increase their chances of succeeding as managers.

5. Be aware of ADD (Attention Deficit Disorder), which could affect top performers. People with ADD display patterns such as losing track of time, inattention, and distractibility, and sometimes display difficulty regulating their emotions.

6. Encourage new managers to value two-way communication (i.e., listening vs. talking). While some people are inclined to interact with others and share their opinions, new managers should provide an environment where team members can express themselves and be heard.

7. Pay attention to the new manager’s administrative overload. It may be an indication of ineffective delegation.