The Power of Goal Setting

Mark McCormack, a renown lawyer, athlete, and writer, focused a great deal of his energy on unlocking the power of goal setting. In his book What They Don't Teach You at Harvard Business School, he unveils the results of a longitudinal study he performed at one of America's most eminent universities, Harvard. He conducted the study between 1979 and 1989, studying students in Harvard's MBA program. In 1979, he asked the participants a simple question, "Have you set clear, written goals for your future and made plans to accomplish them?"

The results to this seemingly simple question were rather surprising. A mere 3% of the students sampled said that they did indeed have a very clear picture in mind as to what their goals are and how they intended to get there. 13% had goals in mind but had not written them down. The remainder, a staggering 84%  had no specific goals in mind.

McCormack revisited his subjects ten years later in 1989. He found that the 13% those who said they had goals but not in writing earned twice as much, on average, as the 84% who didn't have goals for their future. Most astounding is that the 3% of graduates who had a clear, written plan for success were earning, on average, TEN TIMES as much as the remaining 97% of Harvard MBA graduates.

The only difference between the two groups of people were the goals they had upon graduation.

The reason this simple key to success is so overlooked is easy; people just don't get it. They don't understand the importance of goal setting or the impact that it will have on their eventual success. Having a clear and concise vision of where you want to be and what you need to do to make that happen is essential to reaching your full potential.

Why People Don't Set Goals:

• They think goals aren't important

• People are a product of their upbringing. When someone comes from a family who doesn't emphasize the importance of success goals, it can't be expected that he or she will set their for his or herself. 

• They don't know how
• Instead of having goals, most people have wishes or dreams of what they want to be. They don't have a clear understanding of what it takes to make these dreams a reality.
•  They have a fear of failure
• No one wants to set themselves up for failure. Some people feel like by setting goals they are holding themselves accountable for something they aren't going to be able to attain. By not setting any goals, there is no expectations and therefore no chance of failure. 
• They have a fear of rejection
• The fears instilled in us by middle school somehow manage to stay with us well into adulthood; the fear of rejection drives many. Some fear that if they fail, others will criticize them. If they do have goals, they keep them confidential so no one else will be holding them accountable. 

 Taken from Goals! How to Get Everything You Want-Faster Than You Ever Thought Possible by Brian Tracy

10 Things Entrepreneurs Have in Common

1. Attitude: Entrepreneur's have the mindset of an eternal optimist. There are no excuses and the only problems that exist are ones that can be overcome. There is a solution for everything and quitting is never an option.
2. Intention: Things that are done with intent have positive results. Entrepreneurs work with the end result in mind and set forth a plan of attack that will get them to their ultimate goal.
   
3. Purpose: Everyone has something that motivates them; freedom, money, family, etc. Entrepreneurs know exactly what they want in life and have a purpose ALWAYS in mind that drives them to get what they want.
4. Passion: Passion is the fuel that drives you. Just like having a purpose, successful people have a passion for what they do that drives them toward that success. Passion is also contagious. The more others see this passion, the more likely they are to follow suit. Success isn't just about one person getting to where they want to be; this effort takes an entire group of people and the more passion they see in their leader, the more inclined they'll be to follow.
   
5. Resolve: Persistence creates winners! Instead of viewing obstacles as they are, entrepreneurs use these barriers to build strength. There is always a lesson to be learned whether the outcome was successful or not.
6. Plan: Entrepreneurs have specific goals that map out their route to success. These goals are meticulously planned out, making it much easier to follow the path to their eventual success.
7. Responsibilities: A "no excuses" mentality is what separates someone who is successful from a person who is mediocre. Entrepreneurs always accept responsibility for their actions and the actions of the people around them. The idea is that "we win as a team and we lose as a team". Also, they're not afraid to step up to the plate. While others shy away from more work and more time invested, successful people will always be willing to take on whatever it takes to get the job done and get the job done well.
8. Words: The words you speak and the way that you use them says a lot about what kind of person you are. Those who are below average talk about others. Average individuals talk about events and circumstances. Entrepreneurs (winners) talk about goals and ideas, especially their own!
9. Actions: What you do is a direct reflection of your character. Anyone can talk the talk but those who are able to walk the walk are the real winners in life. Entrepreneurs are always ready for the action. They understand that actions are what will ultimately produce results and aren't afraid to take them.
10. Peers: The saying is that you are the average of the five people who are closest to. Entrepreneurs understand this theory and cater their peer groups accordingly. They spend their time with the people who they want to be like and those who support them in their journey to success.