Markets can change quickly. Those changes can alter priorities and render goals irrelevant. When that happens, change the goal quickly so the team can change its focus to higher priority objectives. It's folly to continue pursuing an irrelevant goal. Be willing to change it and set new goals that are more appropriate for the new environment you face.
- Markets can change quickly.…Those changes can alter priorities.…They can render some of your goals irrelevant.…When that happens, change the goal.…Do so quickly so the team can change its focus…to higher priority objectives.…It's foolish to continue pursuing an irrelevant goal.…Be willing to change it and set new goals…that are more appropriate for that new environment.…I know one startup that had an original goal…of site traffic.…They were concerned mostly…with how many people are coming to their website.…
The initial funding they received was based…on those initial goals.…Follow on funding was based…on them hitting those traffic numbers.…Their business model changed.…They learned more about the customer.…They figured out it was much more important…for them to focus…on how much time a user was spending on their site…instead of just overall traffic.…The company was about to have a big meeting…with possible partners and a new funding source,…but to have that meeting they needed money…to fly the executive team out to California…
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- Set corporate and business unit goals.
- Define driver metrics.
- Explain the concept of supporting goals.
- Identify benefits of tying goals to strategy and incentives.
- List ways to troubleshoot and communicate goals.
- Describe how to hold others accountable and avoid pitfalls.