5 Goal-Setting Frameworks to Help You Live Your Dream
Jan 23, 2023
Are you an entrepreneur wanting to make your mark on the world but finding that it's just not happening? Maybe you've come up with big ideas and taken action only for them to fizzle out, leaving you feeling demotivated and questioning if all of the work is even worth it.
Don't give up on living your dream life! We have 5 goal-setting frameworks that can help turn the tide. Take control over your goals, break them down into smaller chunks and use these techniques to see results fast. Read on if you're ready to start making progress toward achieving success.
Stay focused, go after your dreams and keep moving toward your goals. — LL Cool J.
1. SMART goals
A framework suggesting setting goals that are Specific, Measurable, Attainable, Relevant, and Time-bound.
Specific - Write out clear, concise goals. What will be accomplished?
Measurable - The ability to track results quantitatively. What data will measure the goal?
Achievable - Make sure they are challenging but attainable. Is it doable? Do you have the skills/resources?
Relevant - Needs to be important and aligned with your priorities. Why is the result important?
Time-bound - Must have a target finished date. What is the time frame?
2. OKRs (Objectives and Key Results)
The founders of Zillow and Reddit are famous for their use of OKRs.
Objectives are the "what." They are very qualitative and describe the path forward, the place you want to be. When you are unlocking your inner Einstein during a journal session, gut-check your objectives with these prompts:
Are they meaningful?
Are they audacious?
Are they inspiring?
Key Results are the "how." Now, these are quantitative. They provide the roadmap for accomplishing your Objectives. Pressure test these key results by asking yourself:
Are they specific and time-bound?
Are they aggressive, yet realistic?
Are they measurable and verifiable?
Input-related KRs are really all the rage. Jeff Bezos is famous for clearly defining the inputs at Amazon. Writer James Clear's Atomic Habits is obsessed with inputs. The father of OKRs and former Intel CEO, Andy Grove, popularized OKRs with well-defined outputs.
3. HARD goals
If you're trying to reach a goal, then it's time to go HARD.
HARD stands for Heartfelt, Animated, Required, and Difficult. It's not just a catchy acronym; it's a powerful way to set yourself up for success. HARD goals are the key to reaching your highest potential. Let's break it down and look at each component of HARD goals:
Heartfelt - meaningful and important to you.
Animated - vivid in your mind. You can visualize.
Required - necessary for you to achieve your long-term vision and mission.
Difficult - stretch beyond your comfort zone.
4. The Wheel of Life
When it comes to goal setting, the Wheel of Life framework can help us get out of our rut by creating a holistic plan that looks at all aspects of life. It's a great way to jumpstart our motivation and get us headed in the direction we want. With this in mind, let's take a look at the Wheel of Life and how it can help us create an effective goal-setting plan.
The Wheel of Life is basically a framework that can be used to assess the different areas of our lives. We assess how satisfied we are in each area and use this assessment to identify areas that need improvement. This helps us identify which goals should be our priority.
The most common subdivisions include:
Health: Exercise, sleep, energy, and diet
Environment: Think about relatives, colleagues, etc. Do they cause stress?
Career: Are you satisfied?
Relationships: Do you spend enough time with your family, partner, kids, and friends?
Personal growth: Are you reading? Are you learning?
Money: Are you good with your financial status?
FUN: Do you have hobbies? What do you want to do?
5. The Four Disciplines of Execution
Welcome to the world of execution! The Four Disciplines of Execution (4DX) is a simple yet powerful system for helping teams stay focused and achieve results. 4DX is based on four key disciplines:
Focus on the wildly important
Act on lead and lag measures
Keep a compelling scoreboard to track progress
Create a cadence of accountability
These four disciplines will help you and your team stay focused on the things that matter most and execute those initiatives with discipline.
2023 is your year.