FAST vs. SMART Goal Setting

Strategy consultant Charles Sull and management lecturer Donald Sull suggest in their book “With Goals, FAST Beats SMART,” defining your goals according to the acronym FAST vs. SMART, that FAST goals are much more effective. 

 Fast goals are frequently discussed, ambitious, specific, and transparent, while SMART goals are specific, measurable, achievable, realistic, and time-bound.  While all FAST goals are incorporated into SMART goals, they ask the reader to focus more on prioritizing time and use of resources as their main difference.  They also suggest that our goals should influence daily choices and actions - We have heard that before in our discussion of the book HARD Goals.  Creating goals that incorporate daily choices and actions creates intrinsic motivation, allowing us to aim higher and boost our performance. 

Here are some guidelines for setting FAST Goals:

1.       Frequently discussed.  Don’t set goals and then forget about them until performance reviews.  Goals should shape our daily choices and actions.

2.       Ambitious: whereas SMART goals are achievable and realistic, FAST goals aim higher. Telling your staff to get 100% of their merit increase at their performance review may hinder them from accomplishing it. However, explaining to staff that performance isn’t based solely on accomplishing their goals but on how much effort is given to not only get to the goals they created but also push for over and above can be very motivating. 

3.       Specific.  What are the action steps you need to take?  Break it into days, weeks, months, quarterly, bi-annual, and annual.  Breaking goals into steps will allow you to focus on what is in front of you.

4.       Transparent.  Share openly with your team.  Create healthy competition between teams. Be sure your team knows their importance and why their contribution matters.  Allow transparency whenever possible.