Ambitious goals help you think outside the box and can cause a global breakthrough.
What is an extended goal in business?
The definition of an extended goal is as follows: a stretch goal (extended or ambitious) is an inspirational goal. One that sets the stage for stepping out of your comfort zone and looking at the bigger picture.
It is a really big goal that usually involves risks. But at the same time, the possible payoff justifies all the potential risks.
More about stretch goals: an exhaustive definition
Stretch goals can be like dreams, so much so that sometimes achieving them seems impossible. But once a plan is in place to achieve a bold dream, it becomes a stretch goal.
You dream big, give yourself permission to think without limits, and then think through the steps that will lead you to your goal.
By definition, stretch goals require more effort than ordinary goals, and they are also riskier. But you can't have revolutionary breakthroughs without risk. Risk tolerance is a prerequisite for success in business.
Two key differences between stretch goals and conventional goals:
1. Marginal Complexity.
Stretch goals are expectations that are not supported by the company's current capabilities. They seem very difficult to achieve, unlike conventional goals.
2. Exciting novelty.
The most important component of stretch goals is the novelty factor. To achieve them, you often need to come up with ways that are as unexpected and ambitious as the goals themselves.
An example of such a path is the use of Voiset, an AI-based planner that can organize every day of your life into an optimal pattern to achieve a stretch goal.
Now that you understand what stretch goals are, discover how they compare to SMART goals and learn which approach works best for setting the right targets in your business.
Examples of stretch goals: practical application in business
Below are examples of stretch goals that various companies have set and successfully realized.
1. “Reduce the cost of space travel by a factor of 10.”
This goal was set by SpaceX, the aerospace company of Ilon Musk. With the resources and facilities available at the time, the goal was unattainable.
However, this stretch goal pushed the company towards a revolutionary innovation: reusable rockets were invented and developed.
2. “Save 60 to 80 million dollars over 4 years without losing in employee satisfaction or diminishing positive patient outcomes”
This is DaVita's ambitious goal, which it set in 2011 and realized by 2015.
3. “10x” is Google's stretch goal for ... everything.
The company's philosophy is that it is ambitious goals that attract the best employees and create an exciting work environment.
Stretch goals are the bricks from which outstanding future achievements are built. Thanks to this philosophy, today we have Google Maps, Gmail and Street View.
4. “Reduce the amount of waste sent to landfills by 30%” is an example of a stretch goal from Starbucks.
This is one of the many ambitious goals the company sets and fulfills.
Another example of its realized stretch goals: to reduce customer waiting time at checkouts by 20% and increase customer satisfaction by 10%.
Of course, for all these positive examples of stretch goals, there are also negative ones. For example, Ilon Musk set about 20 stretch goals at Tesla, of which the vast majority are still not achieved.
However, it is ambitious goals that change this world and can be the driving force that will take a company out of the ordinary.
The role of tools such as Voiset in achieving your goals
Reaching a stretch goal is something that takes time, so paying proper attention to organizational points becomes critical.
Stay organized by using management tools
To achieve long-term goals, you need to make sure that all the small steps leading to them are done on time.
Stay ahead of time
To make stretch goals stop being dreams, use Voiset solution. It's an AI-powered planner. It provides unique tools to help companies and freelancers realize their most ambitious goals.
Not only will you be able to dictate tasks and track their completion, but you will also be able to schedule events in a smart calendar using AI assistance.
With Voiset, the organization of each day will be perfect - the kind you need to achieve ambitious goals.
Practical steps for successfully setting and meeting stretch goals in business
- Drop the “buts.”
A stretch goal is a goal with no “buts.” Let go of the inner critic, the skeptic, and form that goal, the mere thought of achieving it gives you strength. - Register or download the app, it will take literally 2 minutes.
- Define the sub-steps.
Don't try to think like everyone else or like you used to. Get creative. - Create AI sub-steps in Voiset using all features like smart note, voice input or external calendar.
- Use AI to build a schedule.
AI will create a schedule to reach a stretch goal. Get reminders, track your progress, and go forward without stopping!
With Voiset, you can allocate tasks efficiently, track your progress with automatic reminders and increase your efficiency.
Using the same tools as everyone else around you, it's impossible to go beyond conventional boundaries. But stretch goals are about thinking outside the box.
AI will give you the opportunity to look at your life, career, and business from a different angle. Try Voiset if you are ready to realize your ambitious goals!
Achieving ambitious goals is important, but maintaining balance and managing stress is key to long-term success. Learn how to master stress management and balance in everyday life in our next article
