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Have you heard about this 1979 Harvard
Business School MBA study on goal setting?

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It's very popular amongst
the personal development, uh,

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entrepreneurial growth spaces.

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There are several gurus out there
who refer to this study often, so.

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Here's what it effectively entails.

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In 1979, there was a study conducted
on a graduating class, and it asked

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a single question about goal setting,
which is this, have you set written

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goals and have you created a plan for
their attainment and prior to graduation?

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It was determined that 84% of the
entire class had no set goals at all.

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Okay?

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This is Harvard Business School,
and 84% of them had no set goals.

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13% of the class had written
goals, but no concrete plans

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for attaining them, and just 3%.

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Of the entire graduating class that
was studied had both written goals

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and concrete plans for attaining them.

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3%.

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Can you guess what the results are?

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Welcome to Passion and
Profits Without Burnout.

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I'm your host, Jacob Moore.

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I'm a speaker coach, childhood suicide
law survivor and filmmaker who left

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Hollywood to follow my heart of service.

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I've helped tens of thousands of
people find the balance in their

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life between passion and profits.

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I'm gonna show, I'm gonna teach you
how to build a trauma responsive,

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resilient, and impactful community and
organization all without burning out.

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Let's get started.

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10 years later, the 13% of the
class that had set written.

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But had made no concrete plans, were
making twice as much money as the 84% of

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the class who had no set goals at all.

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But here's the real wild thing, that
3% of the class that had both written

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goals and concrete plans for attaining
them, we're making 10 times as much

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as the rest of the 97% of their class.

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3% making 10 times more than the other.

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97%.

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Sit with that for a second.

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What does that mean to you and
this idea of, of goal setting?

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I would imagine it evokes a sense of,
Hey, I gotta set some goals, right.

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. Well, here's the the thing.

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Um, this study is off debated and
is completely unsubstantiated.

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Yeah.

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. So why am I telling you about it?

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Uh, because in fact, um, if you
google this study, there's a ton

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out there about it, and you'll see
another study that supposedly was

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conducted at Yale that pops up as well.

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. And that also has been unsubstantiated.

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Um, but I want you to note what happened
when I told you about that study because

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it's Harvard Business School, right?

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And we have statistics on people
who set goals and people who didn't.

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And the amount of money that they're
making that psychologically just flips a.

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For most of us, right?

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We say, well, the people
at Harvard are doing it and

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there's a study conducted on it.

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Then A, it must be true,
and B, like that's something

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simple that I can do, right?

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Setting goals and having a
clear plan to attain them.

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So it's almost irrelevant
whether or not the study is

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true because the effect on you.

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the same.

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Right.

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Well, here's the thing.

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We know intrinsically that goal
setting is important, and there

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are actually tons of studies that.

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Prove that to be true.

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Um, in fact, uh, one such study
was done by a statistic brain,

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um, to statistic brain institute
for technology or for research.

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And, um, it basically, you know, said
something similar to what this supposed

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Harvard study did, which is, um, and,
and this is related to New Year's goals.

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Um, Very few people actually
have goals, set goals, and even

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less follow through with them.

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Um, it's something like only 8%
of people achieve their goals

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and 92%, uh, fail at them.

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Uh, less than half of people actually
make goals in the United States, and

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17% of them make them infrequently,
and 38% of them never make them at all.

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Another interesting thing about that
study is that only 75% of people

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made it through the first week.

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71% of people made it past two weeks.

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64% of people made it past
one month, and only 46% of

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people made it past six months.

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So what does that tell us?

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That a quarter of the people
didn't even make it past the first

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week of their New Year's goals.

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That resonate with you at all?

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Cuz I, I know I have been in that boat
and as we are now, well into 2023,

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I'm gonna guess that, um, many of you
have not made it past that week, two,

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week, one month mark at this point,
which is okay because guess what?

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There's a ton of other people out there
that are in the same boat as you, but.

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You're listening to this podcast
because you want to do better, right?

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For yourself, for your family, your
community, for the people that you serve.

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Um, so.

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Let's take this idea of
goal setting into action.

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So, uh, for the rest of our time together
today, I wanna talk about smarter goals.

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And, uh, this is not, um,
this is not hyperbole.

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Uh, I'm not, I'm not saying
like you need to be smarter.

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Um, smarter is an acronym and I'm
going to share what smarter means.

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Um, s is for specific.

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M is for meaningful, A is for achievable,
R is for relevant, T is for time-bound.

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E is for evaluate.

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R is for Readjust Smarter, the acronym.

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Okay.

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And, and you can look this up as well.

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I'll, I'll, I'll include a
link for, um, smarter goals.

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Um, And, and we'll go into each of
these a little bit, but you know,

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what I want to point out is that this
system, a smarter goal setting system,

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um, is one approach to goal setting.

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Okay?

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Um, it doesn't really matter if you
use this system, um, but only that

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you have a system, uh, and that you.

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Some sort of accountability or some
sort of system, some way of tracking,

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because otherwise goals tend to
float off into the ether, right?

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So, um, let's look at what about
this system in particular, the

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smarter system, uh, makes it work.

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So one, uh, is, is specific, right?

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The S is for specific.

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You need to be very, very
specific about your goals.

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When we are like excruciatingly
detailed with our goal setting, there's

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magic that happens in our brains.

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We have the power to imagine
things into fruition.

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We have the power to.

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Recall memories and see
visions of the future.

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In our mind's eye, we can create the
vision of a very specific goal, and the

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more detail you provide to that goal, the
more your mind will see it as something.

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So getting very specific with your
goals, uh, will help it help make it

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more tangible, more real to your brain.

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And we know that if your brain
believes something to be true i e

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a Harvard study, then you are more
likely to take action on it, right?

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The caveat with that
being, uh, that holding.

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A vision to Precious and not being, being
inflexible with it, uh, can lead to a

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sense of failure if, uh, it does not
look exactly like we want it to look.

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Uh, we can talk more about
that at another time.

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Um, but just having that neuroplasticity
when it comes to this idea of specific

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goals is, is really important as well.

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Um, so let's move on to step two.

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Uh, the M is for me.

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. So it cannot be making money for the sake
of making money or looking, you know, good

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for the sake of, of looking good, losing
weight so that I am more attractive.

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Um, arguably those things
are not meaningful, right?

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This has to be connected to
your core values, who you are.

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What your life's work is, what is
something that is akin to your mission

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that your, your goals align with.

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So it has to be something
very, very meaningful to you.

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If it is not deep-rooted in that, that
meaningful, um, approach, then it's very

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easy for that to, you know, get lost.

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When life gets in the way.

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Step three, the is for achievable.

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Okay.

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If a goal is not achievable, if it
is too hard, too momentous, the,

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you know, then it is something
that is easy to give up on.

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There's this sense of like trying
to, you know, climb Mount Everest

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without having prepared for.

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, um, you're not gonna make
it past base camp, right?

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So it has to be achievable for you right
now where you are at, uh, in the sense

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that you have, um, the ability, the
resources, the connections, at least to

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put the puzzle pieces together, right?

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You don't have to have everything
in place right now to achieve that

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goal, but you, you have to be.

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Moving towards them, or it has to
be a reasonable thing for you to do.

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Um, so achievable and, um, you
know, our ability to achieve,

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um, can evolve over time.

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Uh, which is, which is cool.

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That's a fantastic thing about
achievement, um, is that once we

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hit a certain level of achievement,
um, then it's easier to hit

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the next level of achievement.

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Um, r is relevant, um, This fourth
step, uh, is the, the goal has to

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be relevant to your life, to your
work, to you know who you are to,

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you know, you as, as a per person.

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If, um, you have a goal that is not
relevant to you, um, if, if it doesn't

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align with what you want out of.

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Then what's the point?

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What's the point of being famous,
uh, for the sake of being famous,

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uh, if that has no relevance to,
you know, or is not a byproduct of

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what you want to achieve, right?

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So, um, going to Hollywood and
wanting to be a movie star for the

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sake of being famous, uh, is not
the same as going to Hollywood,

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working really hard as an actor and.

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Achieving success and there by fame.

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Um, that's, that's a
different sort of approach.

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Um, step five T is time bound.

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So this one I will share with a caveat.

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Um, there is some debate in the goal
setting the world about, Signing a

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timeframe to goals, um, especially when
it comes to, um, things like, um, trauma

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recovery, um, substance use, recovery,
um, things related to personal development

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in the sense of, um, you are trying to
overcome a monumental hurdle in your life.

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Um, having goals that are time bound
can be a little self-sabotaging and.

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I would say, you know, if this is related
to, if this is something related to your

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health, your wellbeing, uh, survival,
then um, perhaps it's good to speak

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with a therapist, doctor, financial
advisor, someone, um, who can give you

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some insight into whether or not the
timeframe is reasonable or achievable.

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Given your particular set of
circumstances, but let's set that

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aside for a second and just look at,
um, you know, those like intrinsic

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goals that are, um, focused on your
professional development or, you know,

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some type of achievement in your life,
um, not related to overcoming some

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sort of, you know, big personal hurdle,
having a timeframe attached to it.

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Gives us the added benefit of
that little, little pressure, that

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little, um, the sense of the, the
time, um, ticking away, right?

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Um, we have a finite amount of minutes
in our lives and understanding that

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when we set a goal that has some
timeframe assigned to it, um, when we

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look at that relative to our life, to
our goals, uh, for our life as a whole.

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We, we need to sort of move the
needle along with some of these, um,

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goals if we want to achieve them in a
reasonable amount of time in our lives.

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Okay, step six E is for evaluate,
uh, having a way to evaluate your

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goals, to measure them, um, to be able
to, um, quantify what the goal is.

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Uh, success or achievement means for
a specific goal is really important.

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Um, this should be part of your goal
setting process, a way to evaluate,

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uh, whether or not your goal is.

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First of all, you know,
sound and reasonable.

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Um, but then, um, are you
making progress towards it?

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Um, oftentimes it can be helpful to
have, um, someone from the outside,

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a trusted advisor take a look at the
goal and, um, give their opinion on

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whether or not it is reasonable, um,
and that outside input can be helpful.

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Your own self-evaluation of those goals.

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And of course if it's, you know,
say a monetary goal, um, I wanna

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make X amount of money by this date,
um, well, that's something that you

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can evaluate very easily, right?

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Are you making enough money on
a daily, weekly, monthly basis

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to, you know, reach that goal?

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Um, but having that built in and, uh,
something that I would encourage you

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to do is to, uh, make sure that you.

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Setting some type of reminder, putting in
your calendar, um, you know, a timeframe

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to evaluate your goals, um, and to do so
at very various periods along the way.

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For instance, um, I'm, uh,
training for a marathon right now.

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Marathon is in October, and, um, it's
early to begin training for a marathon.

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Um, but I have set.

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Some short term and intermediary
goals, uh, leading up to this

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marathon, um, in October.

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So I am, uh, in the spring running
a 10 K, and that 10 k, um, is

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what I'm currently training for.

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And, um, getting those, you know, miles,
those five miles or so under my belt, and

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to be able to do so within a specific,
you know, goal timeframe, um, will help

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prepare me for my, um, intermediate goal,
um, which is a half marathon in June.

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That will then, you know, get me
to the midway point of, uh, my

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eventual goal, which is a marathon.

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And, uh, there's enough time in between
the half marathon and the marathon

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to do a full marathon training.

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So I have set three, you know,
three um, increments to this goal

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of running a marathon and doing
so in a way that is hopefully

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sustainable and will be injury free.

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Right.

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So, I evaluate my progress towards
each of those goals, uh, on a daily

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basis, um, or each time that I run,
um, I'm evaluating am I making progress

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towards all three of those goals?

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Keeping in mind that the cumulative
miles that I'm doing each week should

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be increasing with the goal of,
you know, running 25 or so miles a.

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By mid-summer, um, or late summer so
that I can reasonably achieve a marathon

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in one sitting . Running as it may be.

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So, um, evaluate, uh,
step seven is readjust.

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This goes back to that idea of the,
the neuroplastic plasticity, um, the,

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the flexibility of your brain to say,
Hey, my life changes, my circumstances

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change, and so my goal has to change.

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So you have this very.

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Involve detailed, um, vision that you set
up for your goal in the very beginning.

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And as you go, as you evaluate, sometimes
you have to adjust and that is okay.

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That is what life is about, and
that's what truly successful

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people are able to do is say, Hey.

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This is, this looks different than
what I had had originally envisioned.

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So I'm gonna course correct and now
adjust, um, towards, uh, a goal that's

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more aligned with where I'm at right now.

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Or perhaps say, you know what?

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That goal that I set a year
ago, five years ago, 10 years

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ago, it no longer applies.

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It no longer applies to my current
life circumstances, and it's.

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To set that aside and to abandon a goal.

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The important thing is, is that along
the way you have flexed those muscles

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in setting yourself towards a goal.

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Um, it is more important that you are
working towards something and that you

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have, uh, a, a system for doing that.

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Then actually reaching the.

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That's not to say that you should abandon
all of your goals and that it doesn't

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matter if you never achieve a goal.

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No.

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It's just to say that like the
vision of that changes and we need

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to allow for the fluidity of life
and the fact that, um, that things,

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things change and that's okay.

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So, uh, smarter goal setting.

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Uh, I'll, I'll link in the show
notes, um, a resource for that.

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And, um, uh, something that will
hopefully be helpful for you,

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um, with, with goal setting.

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So, again, whether or not this
Harvard Business Study, um, is, is

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actually, you know, true or not.

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Goal setting is important, and it
is something that, you know, we

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can all, um, do regardless of where
you went to school or if, like me,

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you didn't go to school at all.

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Uh, we still have the ability to
work towards goals and to have

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success, um, by whatever measure.

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That, uh, is for us.

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Well, that's all I have for today.

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Um, before I let you go, I just
want to ask, uh, one favor.

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If you could please, um, hop over
to YouTube, youtube.com/ Jacob Moore

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and subscribe to my podcast there.

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00:22:18,885 --> 00:22:23,024
That is the easiest way to
support my podcast, uh, with

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00:22:23,205 --> 00:22:25,125
zero financial investment.

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I have no sponsors for this podcast.

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I, uh, don't ask for contributions for it.

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It's something that comes outta
my own budget, and I do, um,

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in-service of the, the people that,
uh, I, I work with service leaders.

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So, uh, you hopping over to you YouTube,
hitting subscribe and, uh, consuming,

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00:22:44,970 --> 00:22:50,340
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way to offset the cost of this show.

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So I would appreciate it.

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Thanks very much, and
until next time, be well.

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Thanks so much for listening
to Passion and Profits.

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Without.

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I hope that you found some
impactful takeaways, and if you

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did, I'd love to hear from you.

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Share a screenshot on your IG story,
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00:23:14,340 --> 00:23:17,790
This show is for you, so
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00:23:17,970 --> 00:23:20,520
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00:23:22,470 --> 00:23:25,320
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Thanks for listening and be well.