How to Set Goals to Achieve Your Life Goals: Frameworks from Billion Dollar Companies

Summary

In this video, Diana, a senior product manager, shares her system for achieving life goals inspired by tech companies. She introduces the '6 Ps' framework covering professional, passion, productivity, personal well-being, people, and profit. She also discusses setting measurable goals using OKRs, focusing on leading metrics, and prioritizing objectives. Finally, she emphasizes the importance of tracking progress and reflecting on goals regularly.

Takeaways

• 🏆 The speaker introduces the concept of treating life goals like road mapping to increase personal accomplishments and happiness.
• 📈 She shares her own system, the 'Six P's Framework', which includes Professional, Passion, Productivity, Personal Well-being, People, and Profit.
• 💼 'Professional' focuses on career goals, emphasizing the importance of work in our lives due to the time spent on it.
• 🔥 'Passion' involves activities you would invest time in if money wasn't an issue, highlighting the importance of pursuing personal interests.
• 🛠️ 'Productivity' is about doing things more efficiently, suggesting the use of productivity apps and overcoming procrastination and bad habits.
• 🏋️‍♀️ 'Personal Well-being' stresses the importance of physical and mental health, advising against neglecting health for other goals.
• 🧑‍🤝‍🧑 'People' involves setting goals around improving and investing in relationships, as they are a significant contributor to happiness.
• 💰 'Profit' is about monetary goals, suggesting being intentional with money and focusing on what brings happiness rather than just earning more.
• 🎯 The speaker discusses 'OKRs' (Objectives and Key Results), a method popularized by Google, to set measurable and trackable goals.
• 📊 She explains the difference between leading and lagging metrics, advising to focus on leading metrics that are within one's control.
• 📈 The concept of setting 'P50' and 'P90' goals is introduced, suggesting setting a range of goals to account for different levels of confidence in achieving them.
• 🔍 The importance of prioritizing goals is emphasized, using the P1, P2, P3 system to rank and focus on the most important objectives.
• 📚 Tracking goals is recommended to be done weekly or bi-weekly to allow for sufficient progress and to avoid daily overwhelm.
• 🚦 The use of traffic light color coding (green, yellow, red) is suggested for tracking progress on goals, making it easy to assess at a glance.

Q & A

What is the main focus of the video?

The video focuses on discussing the systems that large tech companies use to accomplish their goals and how these systems can be adapted for personal life goals, such as training for a marathon or starting a business.

Who is the speaker in the video?

The speaker is Diana, a senior product manager at a large tech company based in Silicon Valley, California.

What is the six P's framework mentioned in the video?

The six P's framework is a system developed by the speaker to help accomplish personal goals. It stands for Professional, Passion, Productivity, Personal Well-being, People, and Profit.

What does the first P in the six P's framework represent?

The first P stands for Professional, which relates to career goals, such as transitioning to a different role, getting a promotion, or starting a business.

How does the speaker define 'Passion' in the context of the six P's framework?

In the context of the six P's framework, 'Passion' refers to activities or interests that one would invest significant time in if money wasn't an issue, such as sports, cooking, or starting a YouTube channel.

What is the role of 'Productivity' in the six P's framework?

'Productivity' in the six P's framework is about doing things more efficiently. It involves delegating tasks, saying no more often, and documenting processes to save time and improve the system for getting things done.

Why is 'Personal Well-being' important in the speaker's framework?

'Personal Well-being' is crucial because it forms the foundation for achieving other goals. It includes physical and mental health, and neglecting this aspect can lead to burnout and hinder progress in other areas of life.

What does the 'People' component in the six P's framework entail?

The 'People' component involves setting goals related to improving or investing in relationships. It emphasizes the importance of community, surrounding oneself with the right people, and investing in meaningful relationships.

What is the significance of 'Profit' in the speaker's framework?

'Profit' in the framework is about monetary goals, which could include saving up for something specific or being more intentional with how money is spent to increase happiness.

What is the concept of OKRs mentioned in the video?

OKRs stand for Objectives and Key Results. It is a framework used to set and track goals, combining qualitative objectives with quantitative key results to measure progress.

How does the speaker suggest setting measurable goals?

The speaker suggests using the concept of OKRs, focusing on leading versus lagging metrics, setting P50 and P90 goals (ranges instead of single numbers), and prioritizing goals by ranking them as P1, P2, or P3.

What is the importance of tracking goals and reflecting?

Tracking goals and reflecting is crucial for adjusting strategies, staying motivated, and ensuring that progress is made towards the set objectives. It helps in identifying areas of success and areas that need improvement.

How often should one review their goals according to the speaker?

The speaker suggests reviewing goals weekly or bi-weekly to allow sufficient time for progress and to avoid the overwhelm that can come from daily tracking.

What is the traffic light color coding system for tracking progress mentioned in the video?

The traffic light color coding system involves categorizing goals as green (trending well or accomplished), yellow (50% chance of accomplishment), or red (high risk of failure) based on progress.