The term BHAG has been around a while. It was Jim Collins in his landmark book “Good to Great” who first coined the term. A Big Hairy Audacious Goal!
The late JFK had one in 1962. He said “by the end of this decade we’re going to put a man on the moon and safely bring him home”. That BHAG inspired a nation and many parts of the world.
What is your inspiring BHAG? It needs to inspire you, your team and (depending on what it is) your clients. It could be revenue – $XM in revenue in 10 years. It could be client centric – a Billion dollars of wealth in our client base. It could be service/client centric – every client to be financially retired.
Whatever it is it needs to be grand, amazing and inspiring.
Many Accounting firms I meet are just existing by default (not by design) and they have no goals or they have a SMAG…Small Minded Ambivalent Goals.
It’s your business – design it the way you want.