🎯 Aim high, shoot higher
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Enjoy the 84th Podup with the best bits from Saastr Podcast.
Sterling Snow had a front-row seat to one of the fastest success stories in tech. Divvy went from its first institutional round of funding to a whopping $2.5B acquisition in just 4 years. Sterling credits this meteoric rise to his goal-setting framework, 'Budget, Quota, Goal'.
Why set 3 different goals?
You want to have a plan that you can beat. Wins turn into more wins. But you don't want to sandbag or leave growth on the table. How do you balance this? We used the 'Budget, Quota, Goal' framework:
The Budget number is what we presented to the Board. It's the number that come hell or high water, we're not going to miss. Some conservatism is baked in. You should have an 80% certainty you'll achieve this.
The Quota number is what every rep, manager, and leader is incentivized to hit. It's a step up from Budget.
The Goal number is the stretch goal. You'll probably only hit it a couple of times a year and when you do you'll celebrate the hell out of it.
This framework is remarkably helpful for protecting your downside while making sure you always have upward mobility.
Sterling Snow
Why it matters
Financial planning can feel like walking a tightrope. You need to be ambitious without being reckless, conservative without stifling growth. The 'Budget, Quota, Goal' framework provides a scalable method to balance these pressures. It empowers you to set achievable yet challenging targets, build credibility with your board and investors, and foster a culture of constant improvement.
Next steps
Want to leverage this three-tier goal-setting framework? Here's how:
Set the Budget – This is your safe bet. Define a target you're confident your team can achieve.
Define the Quota – Step up the game. This should be a challenging, yet feasible target for your team.
Aim for the Goal – Be bold and set an ambitious target. It's meant to stretch your team's capabilities.
Your thoughts?
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Quotes were pulled at different points of the episode. Sentences were left out to make the narrative more concise. Podup is not associated or affiliated with any podcast.