By Dan Zawacki
on April 30, 2020
How can you even think about looking 10 years into the future when the world has changed so much? Yet now, more than ever, you need a 10-Year Target.
A 10-Year Target is the “North Star” for your company and all your employees. Your team needs to see that you have a plan. They need to believe in a real target to get through this.
In Gino Wickman’s bestselling book, Traction, he discusses why having a long-term goal or a 10-Year Target is a vital part of the Entrepreneurial Operating System® (EOS®) and the success of your company.
I was recently facilitating a Vision Building Day™ and we were discussing what is “that larger than life goal that you want to accomplish within the next 10 years?”
It’s funny, whenever I ask that question, I always get that same look: “10 years? We can’t think that far out! Especially now with the way the world has changed.”
I get it. It is a hard question that requires some real thought. After owning my own company for 30 years, I never thought all that much about where I wanted to be in 10 years. Business just happened.
I know it is really tough out there right now. But we do know for sure that it will change. We just don’t know how, and that’s why you need a 10-Year Target to help you focus. It may actually change the way you are conducting business now and make you either add or delete products and services in the future. It is a whole new way to look at your business in these uncertain times.
When I take my clients on the EOS journey, one of the first things we work on together is a 10-Year Target.
Unless the leadership team is focused on a North Star, it will forever be stuck in solving the problem of the day. Instead, organizations need to create a vision of where they want to be in 10 years and it must become the number one goal of the organization.
When everyone in the organization is focused on the target, the stars align and magic happens. You and your team can actually “see” it becoming a reality.
In their seminal book, Built To Last, authors Jim Collins and Jerry I. Porras found that organizations that have endured for decades have done so because they all set massive long-term goals. And this way of thinking can help your business as well, in good times and bad.
When I teach my clients how to develop a 10-Year Target, there are three key “nuggets” to keep in mind:
So now that you have selected your target, you need to map your actions to move the company in the right direction. In other words, start eating the elephant bite by bite.
EOS provides the thinking and the proven process that can take you from where you are at today… to where you want to be in 10 years. Trust in the process, it works.