Time Management Tip #1 – Why Setting Goals and Objectives and Then Putting a Plan in Place for Your Life is So Important
Posted on 02. Jan, 2010 by Samantha Gardner in Life Management, Time Management
Many of you have probably heard the study done at the Harvard Business School about setting goals and objectives. In the book, “What They Don’t Teach You at Harvard Business School”* it discusses a fascinating study of Harvard MBA students.
When a group of graduating MBA students were interviewed:
- 84% had no specific goals or plans for after graduation or for their lives
- 13% had goals, but had not written them down
- 3% had written goals and/or plans for their lives
Might not surprise you when you’re talking about students, but these were Harvard MBA students who are setting out into the fast-paced business world. The results that came out later from that same group of graduates years later are profound.
When the students were interviewed 10 years later:
The 13% who have goals but had not written them down had earned on average 2 times more than the 84% that had no specific goals or plans. Think about how much more income over the course of a lifetime those with goals would make than their counterparts.
Now it gets more interesting. The minority of graduates, 3%, who had written goals and or plans had earned on average 10 times more than the other 97% of students. Yes – 10 times more money. Now I know money isn’t everything but to make 10 times more than your classmates over 10 years is significant. These classmates had received the same degree and the same educational bases from the same institution.
Now when I hear someone say they don’t have time to make a plan, I wonder if they understand the importance of having at least a general direction. Most people do not have written goals or objectives for any part of their lives.
Most of the studies show that less than 1% of the United States population has any written goals. Most people have a business with no plan in place. Most people have no goals for their families. Many people don’t even believe that goals even matter and are just living from day-to-day managing one crisis after another.
Have you set goals and objectives for yourself?
Do you have a plan in place to make those goals into results?
If not, over the series of the next week I will be providing ongoing series of posts to help you look at what you want and set up ways for you to get there. Time management is important but it only works if you have a vision of where you’re going first.
Even people with goals need a plan to put those goals into action. Success in all areas of your life comes from moving forward.
Join me and let’s develop out a simple, forward moving plan and roadmap for YOU.
* What They Don’t Teach You At Harvard Business School
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