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