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Thread: BHAG's - how big is yours?

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    Email problem mother's Avatar
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    BHAG's - how big is yours?

    Personally, I believe more in having a BHAG than I do in having a business plan. Ok, perhaps because I'm a bit of a dreamer, but how can the captain of a ship not have a dream to chase? I'm sure Da Gama and Columbus also had a twinkle or two in their eyes. Is ambition not simply having a dream plus having the determination to make it happen?

    Anyway, I just added a fabulous BHAG to my business plan (geez, I've been at this plan for over a month now!). I won't bore you with the details of this BHAG, but I will tell you that a quick "back-of-fag-packet" costing, shows that we could expect a turnover of
    R2,000,000,000 per month!!!

    Hehehehe... okay, so I think I'll have a whiskey now... and I'll return to this plan again tomorrow! It is so ridiculous, it has to be wrong... or what if it's right? NO! NO! NO! Going to have a drink now, while you guys tell me how big your BHAG's are!

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    had to look it up..but for others:

    The term Big Hairy Audacious Goal ("BHAG") was proposed by James Collins and
    Jerry Porras in their 1996 article entitled Building Your Company's Vision

    one thing I have learn't about myself is that I am more about ego than money...I am more interested in having a large business because it's "strokes my ego", rather than because of the greater profit...Don't get me wrong, profit is good, but for me - larger business is better.

    Weird, but at least i have come to realize how shallow I am!!

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    Gold Member daveob's Avatar
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    Big Hairy Audacious Goal -- working as little as possible while maintaining an existing slow and steady growing residual income, not having to drive to work, living with no debt ( except the house, which is affordable on the income ), not keeping up with the Jones's, spending as much time as possible with the wife & kids, staying out the rat race ( been there, done that, experienced the eventual burn-out ), avoid rush hour traffic, sit and watch the sea every morning with coffee ( and lunch and all afternoon if I wanted to ).

    oops. got there already ( 5 year plan that took 15 years, mind you ). Time for a new BHAG.

    .. my point is, it's different for everyone.
    Watching the ships passing by.

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    Platinum Member Neville Bailey's Avatar
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    And, for those of you who haven't read my blog (http://nevillebailey.wordpress.com), my BHAG is to build up a critical mass of clients that I can support remotely, so that I can get into a mobile home and tour the country aimlessly, whilst continuing to generate income from wherever I might be.

    So far, 40% of my income is derived from remote support, so I am well on my way to becoming a true nomadic consultant!

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    Email problem mother's Avatar
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    Quote Originally Posted by daveob View Post
    it's different for everyone.
    Absolutely! And as you guys have proved, individual BHAGs are very personal (often emotional) as well. It is that ultimate personal desire that drives you towards success. Once you know what you want, you will direct your actions towards achieving it. And Daveob, it is so encouraging to hear about people who achieved theirs. Awesome!

    And just as a person needs a Big Hairy Audacious Goal to chase, a business needs at least one BHAG. It defines the business' ultimate dream, without specifying how it will get there. The point is really just put into words what the "first prize" would be. A business plan is far more practical, and must explain how specific goals will be achieved in a specific time frame. The BHAG is not something you break down into a 5 year strategy, but if you have a clearly defined BHAG for your business, your 5 year strategy will definitely be shaped around moving towards that BHAG. In my opinion your BHAG should be big enough to almost be ridiculous, but not impossible. For example, TFSA's BHAG could be to publish an international bestseller Practical Handbook for Entrepreneurs, based on years of opinions and experience of small business owners, collected here on this forum. It's a big enough goal, with a big enough budget, to almost be ridiculous, but it's not impossible.

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    Moderator IanF's Avatar
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    Mother
    Are you a closet business school lecturer, this is getting us going. When we started the printing business we developed a Copy deterrent paper. this was going to be our big thing. But copiers have got cleverer. So lets see how far we can go with the laser.
    Only stress when you can change the outcome!

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    Email problem mother's Avatar
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    Quote Originally Posted by IanF View Post
    Mother
    Are you a closet business school lecturer
    Hehehehe. Ian, I don't know if I should feel flattered or if I should shut up now!

    But no I am definitely not ... I teach adults to teach little children, to become clever.

    By the way, I was on your website last night, and I saw the copy-proof paper thing, and I thought it was a brilliant idea! I need that in my business, and I'm still gonna pm you about it.

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    Bronze Member rfnel's Avatar
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    Quote Originally Posted by Neville Bailey View Post
    And, for those of you who haven't read my blog (http://nevillebailey.wordpress.com), my BHAG is to build up a critical mass of clients that I can support remotely, so that I can get into a mobile home and tour the country aimlessly, whilst continuing to generate income from wherever I might be.

    So far, 40% of my income is derived from remote support, so I am well on my way to becoming a true nomadic consultant!
    In the past, I've also thought about how spectacularly awesome that would be. Except, instead of a mobile home, my idea involved an 18 wheeler truck outfitted with luxury living quarters and an office in the trailer. It would cost a pretty penny to keep it on the road though.
    "Fortune favours the bold" - Virgil
    Riaan Nel
    Freelance Software Development | LinkedIn | Skype

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    Moderator IanF's Avatar
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    Mother be flattered I think it is Socrates method. That really appeals to me, in that you get involved.
    Only stress when you can change the outcome!

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    mother (20-Jul-11)

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    Email problem mother's Avatar
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    Neville and Riaan, I can totally relate to your dreams. Wouldn't it be AWESOME to just travel and sleep where the sun sets! Except, by the time I have my Harley Davidson Limited Edition Heritage Softail, customised for a super laid back chopper-look, and complete with sidecar for the girls, I definitely do NOT want to work anymore, juist cruise!

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