BHAG's - how big is yours?

[mother]

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!

[Pap_sak]

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!!

[daveob]

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.

[Neville Bailey]

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!

Sent from my BlackBerry 8520 using Tapatalk

[mother]

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.

[IanF]

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.

[mother]

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.

[rfnel]

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.

[IanF]

Mother be flattered I think it is Socrates method. That really appeals to me, in that you get involved.

[mother]

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!

[mother]

OH MY GOSH! I just read the explaination you linked to... You mean I speak according to a method? Which mean there's a method to my thought patterns? And that method has a name?????? Holy cow! Seriously, I never knew this... And now you've just set my mind on a course to determine where the heck this comes from...

Wow, thanks Ian! I feel very flattered now.

[Blurock]

I have more or less achieved my BHAG. I wake up naturally in the morning. No alarm - alarm means there is a fire somewhere! No clock radio - who wants to wake up with bad news so early in the morning? Or even worse, rap crap from East Coast Radio (we do not have any choices here in Durban).

I now have my own business (long time dream) and get paid retainers for my services. My time is pretty much my own and I can come and go as I want to. I will never be rich, but I am a free spirit and very comfortable with where I am in life now.

Shucks! I have just discovered that I will have to keep working to keep the business and maintain this lifestyle!

[mother]

Shucks! I have just discovered that I will have to keep working to keep the business and maintain this lifestyle!

Bummer!!! Then I guess it's time for a new BHAG ... gonna have to get rid of that "work" thing that keeps interfering with your time!

[Blurock]

Maybe I'll become a rock star. But I'll still have to do gigs.....

[Dave A]

At a business level, my BHAG is to build a business machine that pays me what I need as minumum and more than what I want as optimum without me being there. In terms of what I want to do with my time when I get there - well, realistically I could do most of that anyway already if I really chose to - so they're not much of a BHAG in themselves, but a great incentive to keep going.

Interesting reading the "potential" BHAG for TFSA. I actually do have one, one that has been in the back of my mind from the outset. We could be getting pretty close to me putting it out there as something for all of us to chase some time soon too.

The site is definitely gaining momentum.
The sense of community is getting stronger and stronger.
We're getting closer and closer to a base where I think we could pull this one off.