Everything you need to know about what are stretch goals?

We usually make goals that are achievable and confidential without taking any risk. These goals are well-planned, and we usually know their outcomes. We do not think out of the box as we are afraid of the risk of loss. Instead of thinking about the bright aspects, we think about the dark aspects of things that seem difficult. 

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If you are ambitious and want to achieve something that seems difficult and adventurous, you need to know everything about what are stretch goals? Stretch goals are not as simple as other achievable goals are. Before you come to know about what are stretch goals, you need to be clear about their level of achievement; you are not 100% sure to achieve them at all. You may get below or more than 100% results in stretch goals.

Everything you need to know about what are stretch goals?

If you want to achieve something that will make you fly higher in the sky, you have to leave your comfort zone and shift to a courage zone. Here you are admitting life is not about staying stagnant but flowing with courage and breaking the big hurdle on your way to carve your own path. When you study what are stretch goals, you will clearly get an idea you need courage and will to fight with difficulties and keep moving on. 

What are Stretch Goals?

The name of stretch goals indicates that these are the expanded goals of a leader and his team that are usually extraordinary and complicated. True leaders keenly think about stretch goals and design strategies to put all efforts into them and their teams to achieve these goals with unexpected results. When you urge to get something beyond the expectations that are normally out of the simple way. 

Leaders design stretch goals to expand their companies, business, or organization. These goals are unexpected lead a company to the peak they were not expecting to reach. Stretch goals are extraordinary efforts, courage to bear the loss, if any, and full dedication of the whole team to build a strong pillar and expand the roof in the form of a company. Stretched goals are highly encouraging for the employees to boost their energy and make them ready for future projects. 

Examples

Here, I am coding some common examples to show what stretched goals are?

High revenue generation in sales

When talking about the salespeople, they have types of targets; one that is easily achievable and the second that is hardly achievable. Suppose salespeople do have a target to sell the products of about $50000 and generate the revenue of 10 percent commission. It is an easy and achievable task for the salespeople, even on a daily basis, and you do not need to make extra efforts to bring this target ahead.

On the other hand, if a salesperson makes an extraordinary sale in a day like instead of selling products of $50000, he sells $100000 or more than this in a day, he will get an extraordinary commission of 26% per year. You see, by making some extraordinary sales, a salesperson can get his income raised and have more chances of growth if he learns what stretch goals are and how they are important. 

High revenue generation in organizations 

Same as sales, organizations also do have stretch goals to achieve to make maximum. 

Ways to build stretch goals for you and your team to achieve extraordinary success

When have you got the knowledge about what are stretch goals and how they are important for the growth of a company, worried about how to make your own stretch goals? No worries, here is the proper guide for you to bring to your notice so that you can also set your stretch goals.

Match the stretch goals with your teammates 

First, you need to have a meeting with your team and discuss what you expect and want to get from stretch goals. 

Before you are the leader of your team decide stretch goals for the organization or company, you should look forward to the opinion of your team member to know better about their skills and capabilities. 

Do not overlook the goals that are extremely high and impossible to achieve. Like in superheroes' movies, they do anything even though they are bleeding but still fighting energetically and winning the battle. 

By considering the skills of your team members, develop stretch goals. You can only enjoy the stretch goals when they are well-defined, discussed with your team members, and they are satisfied and happy with them. Otherwise, it is not possible to achieve any goal forcefully. 

Keep looking for a suitable time. 

For learning what are stretch goals and how you can get maximum benefits, you should wait for a suitable time. As discussed earlier, stretch goals are not fixed, and we start them anytime by quitting the other plans. The best time to take a turn towards the stretch goals is when you feel your team is much motivated and willing to expand the organization. This time, you should plan a new and fresh stretch goal and proper strategies to achieve it. 

Do not be much idealistic but realistic. 

While setting stretch goals, you also need to think about the reality of things by considering what is possible and what is not possible. It can be helpful for you to recognize whether your team is able to achieve these stretch goals or not. You can take this decision by considering the previous performance of your team in previous projects. 

Being a project manager or leader of your team, you are responsible for motivating your team and developing the stretch goal that you think your team can achieve. The skills of your team matter, and the resources that you can provide them meet the outcomes. So, take a realistic approach instead of an idealistic one as it is not possible to achieve some goals if the sources are not available. 

Look forward to the objective of your organization. 

When thinking about setting stretch goals does not mean you can take U-turn anytime with any objective. As you are working for a company or an organization so, you need to consider the objective of that company as your priority. 

It is also necessary to recall the objective of the organization to keep the team on the right track so that they are moving forward. Otherwise, every member will have his own goal, and it won't be possible to put the organization on the right track. 

Motivate and encourage your team members

Another necessary factor in making successful stretch goals is to motivate and encourage your team members so that they can look clearly at what they are seeking. They will feel energetic and show a positive attitude towards their tasks.

Look for SMART stretch goals that you can easily track 

It is necessary to track the goals; otherwise, it will not be possible to decide whether you are going in the right direction or not. SMART stretch goals are the goals that are

  • Specific
  • Measurable
  • Attainable
  • Relevant 
  • Time following 

If you set your stretch goals accordingly, you will get better results, or they may be extraordinary amazing. These features will help you to track the goals easily, and you can check what you are doing well and where you are lacking and need improvement. 

Now, appreciate your team by showing a graph of their progress

At last, when you have achieved the goals and expanded your company with the help of your team, there is a great need to appreciate them. Fix a day for celebration, show the graph of progress and give them rewards accordingly so that you can gain their trust and induce motivation to show more courage to bring innovations. 

What advantage can we get from Stretch goals?

Stretch goals are always project-friendly if you choose the right goal matching your team's skills and the resource you already have. You can get a maximum advantage due to stretch goals to expand your company.

Bring motivation to the employees. 

The most important part of an organization is its employees, as they play an important role in expanding it by showing extraordinary performance. Stretch goals bring motivation and courage to the employees of an organization as they know they are doing something that will also help them to grow their careers. 

Keep your employees determined towards the success

The employees know the objective of the company and are highly willing to promote it by bringing their all efforts in use to expand it. They will continuously work for its betterment if you share the importance of the company's growth for them as well. 

Improve productivity 

Stretch goals bring a high level and extraordinary success story to an organization that directly uplifts productivity. When productivity is increased, the company automatically will generate huge revenue and bring growth opportunities for the employees.

Boost energy to bring creativity

As stretch goals involve the whole team while working and sharing ideas, they bring new ideas and creativity to make something special happen. 

Conclusion 

It is important to know about stretch goals and how they are beneficial for expanding a company with extraordinary marks. This article contains a detail on stretch goals steps to set these goals and create possibilities to achieve them. 

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