How Aligning Your Business Goals to The Goals Of Your Team is Key For Growth
Setting goals is an essential part of planning for the growth of your business.
Whether you are planning for your growth with your team, or by growing your team, it is important to be sure your goals and the goals of your team are aligned.
This is called the Summation of Goals. The Summation of Goals is the collective goals of all of your team members.
To reach an individual goal, a collective goal, or the summation of goals, we must be motivated. There are different ways to lead and motivate your team.
Related: Before we explain further, here is a quick video on individual goals, team goals, and the summation of goals as applied to business growth planning. WATCH NOW
We also cover the Summation of Goals in our virtual courses and business planning workshops. Click Here To Learn More
Extrinsic Motivators VS. Intrinsic Motivators
We are constantly setting goals and developing strategies to achieve them. This is true in life, relationships, and our business.
The factors that motivate our goals and our willingness to reach those goals are often classified as either extrinsic or intrinsic.
Related: In his book, DRIVE: The Surprising Truth About What Motivates Us, best-selling author Daniel H. Pink talks about extrinsic and intrinsic motivators. Here’s a link to his book CHECK IT OUT
Extrinsic motivators are the ‘stick and carrot’ motivators. Reward-based motivation is most effective in the short-term, and is actually a less effective way to lead.
The vast majority of people find themselves being extrinsically motivated, or extrinsically motivating their team members.
Incentives, bonuses, and praise are all examples of extrinsic motivators. Being paid to do a job is the best example of extrinsic motivation.
In an Extrinsically Motivated environment, the motivation to work toward a goal is driven by external factors.
Intrinsic motivation is the inner drive or pursuit that a person possesses to reach their goals.
This drive is not motivated by carrots and sticks, rewards, or praise; but rather by goals and satisfaction.
Intrinsically motivated people find satisfaction by a pursuit that is fun, challenging, rewarding, enjoyable, and gratifying.
Intrinsic motivation happens when you first understand WHAT is important to your team members, and then WHY it is important to them.
If you can help your individual team members clearly define their goals, you can then clearly define the goals of the team.
Understanding the goals of your team can help you follow a growth curve that resonates with your team members.
Related: Learn More About Growth Curves & Decisions To Make
Having the right people in the right roles, operating with goals that align with the rest of the team, and for a level of income that is comfortable, is intrinsically motivating.
Now that you understand the Three Key Concepts, we invite you to explore how you can utilize these concepts in your own business growth plan.
Need some guidance? We work with hundreds of clients and their team members to put the Three Key Concepts into practice. CLICK HERE to find out how we can help you!