This article discusses a simple method to set goals in your organisation using an simplified method called 1-3-5.
As we are still in the early part of the year, it’s always good to set goals and targets for the coming period. This method is a simple yet very effective way to align the organisation to it strategic goals.
- Set One Major Quantifiable Goal
Many organisations set targets and goals that are difficult to quantify. Like improve trust in the organisation or technology. These could be part of the overall strategy of the organisation but they cannot be measured. Therefore, no one can really take accountability for them
Goals and targets must not only be measurable they must be SMART e.g. Improve Profit by 10% within the next 12 months.
2. Set Three Short Terms Goals
These three short terms goals are needed to attain the one main quantifiable goal you set in the previous step. For our example: Improve Profit by 10% within the next 12 months. You can then set the three goals as follows:
a. Increase customer base by 25% in the next 3 months.
b. Reduce Costs by 30% in the next 6 months
c. Increase upsell and cross sell opportunties with current customer base by 50% in the next 6 months.
3. Determine the Five Daily Actions
The last step relates the three goals you set above to the your daily tasks. This is done by setting five things you are going to do daily to meet your three short term goals.
For example: Increase customer base by 25% in the next 3 months means you need to cold call more people, attend marketing events, ask for referrals from current customers, run an advert or promotion etc.
The act of breaking down goals from large ones into smaller ones and then to bite size goals is based on Hoshin Kanri.
Did you find this interesting and would you like to know more on the topic like how to setup your 1-3-5 for 2018?
Send us an email at email@example.com