Today, I’m continuing the series on Leadership with the second quality I think all good leaders possess–the ability to set goals and develop strategies.

A good leader is not only the captain of her ship, she is also the navigator. She selects a destination for the crew and charts the best course to get there. Like a ship’s captain, a leader has to be prepared to change course in response to both external forces (e.g., the weather) and internal pressures (e.g., a sick crew member). Good leaders are able to:

• Set measurable and achievable goals. This is not as easy as it sounds. There are entire MBA programs and certification courses dedicated to learning how to set goals and measure performance. Let’s say you’re the leader of a sales team responsible for three products. What is your goal? To increase sales and make more money, right? Wrong. That goal is not specific enough. It doesn’t help your team understand where you want them to focus their efforts. A better goal would be to increase sales relative to last quarter’s numbers by 10% for product 1, 20% for product 2, and 50% for product 3. The second key to setting goals is that they need to be achievable but not easy. You want your team to stretch and push themselves to meet the goal, but you don’t want to set the bar so high that they feel discouraged from even trying.
• Adapt to a changing environment. Imagine that a new company has opened in your area, and that they’re selling products similar to your products 1, 2, and 3. A good leader is able to use that information to inform the development of a new strategy. Perhaps your team used to highlight low prices as the centerpiece of their marketing campaign. You’re dismayed to learn that the new company’s prices are even lower than yours. What can you do? Well, obviously, you could lower your prices, but you could also revamp your marketing effort to highlight a feature of your product with which the other company can’t compete, such as your excellent warranty program.
• Keep options open. Good leaders are willing to take risks and are able to rapidly change courses if those risks aren’t paying off. If your idea to focus your marketing on the warranty program isn’t leading to an increase in sales, then stop doing it and do something else. I don’t know about you, but I’ve encountered many “leaders” in my professional life who are totally unwilling to admit when they’ve made a mistake. They just keep plugging away with a bad idea until the whole team crashes and burns. A good leader, however, regularly evaluates progress and is willing to accept critical feedback.
• Motivate and inspire others. All your goal-setting and strategizing will come to naught if you can’t motivate your team to give it their all. A good leader is able to generate excitement about achieving goals and striving for excellence. Think outside the box when it comes to motivation. Maybe an individual sales contest would inspire your employees, or perhaps a treat for the team at the end of the quarter if they’ve met their goal.

Be sure to tune in tomorrow for the last post in this series!

Tags: Goals, leadership

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