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Goal Definition

Owned by Steffen Müller
Last updated: Nov 04, 2022
3 min read

Before we dive into defining our next fiscal year’s goals, let’s start with a recap about what a goal actually is. For that, we blatantly quote one of the first google results for “goal definition presentation” from slideshare.

Introduction to goals

What is a goal?

A goal is a desired result that a person or organisation plans and commits to achieve.

Goal setting

Goal setting involves the development of an action plan designed to motivate and guide a person or group towards a goal.

Why setting a goal?

  • It gives you long-term vision and short-term motivation

  • It focuses your acquisition of knowledge, and helps you to organize your time and your resources so that you can make the very most of your life

  • It allows to measure your progress because you always have a fixed endpoint or benchmark to compare with

  • Goals help you achieve your highest goals.

Types of goals

Short Term Goal

A short-term goal is something you want to do in the near future. The near future can mean today, this week, this month or even this year. A short-term goal is something you want to accomplish soon.

Long Term Goal

A long term goal is that goal which takes a long time to achieve.

A SMART goal

What is a SMART goal?

S

Specific

M

Measurable

A

Achievable

R

Realistic

T

Timely

How to set goals?

  1. Identify goals

  2. Set objectives

  3. List obstacles

  4. Identify people

  5. List skills

  6. Develop a plan

  7. List benefits

Inspirational story:
Arnold Schwarzenegger

The key facts about Arnold:

  • He wanted to be the greatest bodybuilder in the world, winning the title of Mr. Olympia.

  • He became the youngest ever Mr. Olympia at the age of 23 (he won the title seven times).

Conclusion

Goal setting is not just about identifying what you want to achieve but also how you will achieve it (process goals) and measure that achievement.

Beginners require very short term, easily achievable goals to boost their self-confidence whereas the experienced individual needs more challenging yet realistic goals.

Our goals for next fiscal year

Lets visualize our goals for the next FY with this really useful graph:

Goal

Importance

Raise liquidity

10

Develop product v4

5

Expand to EMEA

5

Time to discuss!

Results from the pre-meeting

  1. We will raise liquidity by at least 1.5M per quarter
  2. The product team working on v4 will deliver a prototype until second quarter
  3. Bruno will go to Austria next week to set the foundation for our EMEA headquarter
  4. Laetitia will finish the patent process by second quarter.