In his book, Collins reviews the identifying traits of “exceptional companies that have stood the test of time.” Rock stars that have been outdoing their competition for a really long time now, like Disney, Walmart, and Hewlett-Packard.
One of the several traits that made those brands successful was establishing big defining goals to drive them along the way. One example is Sam Walton’s BHAG made in 1945 to make his little shop into the most profitable one in Arkansas in 5-years. As we all know, that eventually became Walmart.
To hammer out one big driving objective, as Collins says, it should be clear and compelling. Meaning, eliminate the fancy language and superlatives and defining one huge thing you want to accomplish in the next 5-years.
The goal can be broad but needs a defining finish line— like a million-dollar bank account— which you then establish smaller and more specific objectives to get there.
Most importantly, it should be the battle cry that ignites a fire deep inside that keeps you pressing forward.