Goals show up in many places within our partnering function. Goals can be found in each of the following areas: company, strategic partnering team, partnering team member, strategic partnering plan (SPP) and Term Sheet/Strategic Partnering Agreement (SPA).
There are three key reasons that we set and manage goals. When done right, goals will: 1) Create Clarity; 2) Maintain Focus; 3) Ensure Alignment.
Below is an approach named the 3-1-3-3 Method that will help you and your team avoid the pitfall of setting suboptimal goals. We encourage partnering professionals to use this method to set effective goals.
The 3-1-3-3 Method for goal setting is the epitome of “less is more.”
In this approach we set 3 goals (OKRs), identify the #1 priority, set 3 metrics to measure at each 3 month (qtr) period.
We apply the 3-1-3-3 method to each “unit” within our partnering team. Examples of “units” are: partnering team, each team member, each partnering initiative (has an SPP), and each individual partner (Term Sheet / Agreement).
If our team sets 10-12 goals, we are telling our team members that everything is a priority. Well, if everything is a priority that means that nothing gets priority.
