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Startup

FAST goals are better for high-growth startups than SMART goals

The conventional wisdom is goals should be SMART – specific, measurable, achievable, realistic, and time-bound.

At Avoma.com, we don’t do SMART goals. We do FAST goals.

The key concern is – SMART goals undervalue ambition.

And they lack importance of discussing goals throughout the year.

FAST goals are — frequently discussed, ambitious, specific, and transparent.

For startups, you need to set ambitious targets – not achievable.

You need to translate them into specific metrics and milestones.

And you need to make them transparent throughout the organization so everyone is aligned and there is near-zero wastage.

And most importantly, you need to discuss the progress of these goals frequently and adjust quickly.

This model seems more applicable to high-growth startups than the traditional SMART goals, which was popularized since Intel days.

The FAST concept was introduced by MIT’s business school a few years ago, and it stuck with me.

👉 Here’s the link of MIT’s detail documentation and research findings: https://sloanreview.mit.edu/article/with-goals-fast-beats-smart/

Hope this helps when you’re planning your 2022 goals. 📈

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