Workshop 5: Goals & Objectives (What You Aim to Achieve)

Expected Duration: 1-2 hours of full uninterrupted focus

Overview

Goals and objectives outline what the organisation aims to accomplish in the short, medium, and long term. They provide measurable targets that align with your purpose, mission, and vision while being guided by your core values. This workshop transforms your strategic foundation into actionable outcomes.

What You'll Achieve

By the end of this workshop, you will have:

• 3-5 clear, measurable goals with defined success metrics
• Alignment between objectives and strategic foundation
• Prioritised focus areas for the next 1-5 years

Pre-Workshop Preparation

• Review your Purpose, Mission, Vision, and Core Values from previous workshops
• Consider your current priorities and resource constraints
• Please send any feedback to etienne@familyofx.com

Workshop Structure

Step 1: Ask These Questions

Reflect on these strategic questions:

• What specific outcomes do we want to achieve in the next 1–5 years?
• What are our priorities for preserving and growing wealth, creating impact, or supporting family members?
• How do these goals align with our long-term vision?
• What constraints or resources should we consider?

Step 2: Goal Categories

Consider objectives across these key areas:

Wealth Management

• Portfolio growth and diversification
• Risk management and preservation
• Asset allocation and performance

Family Development

• Next-generation education and preparation
• Family governance and communication
• Succession planning and leadership

Impact & Legacy

• Philanthropic initiatives and outcomes
• Sustainable investment practices
• Community and social impact

Operations & Governance

• Systems and process improvements
• Professional development
• Organizational effectiveness

Step 3: Collaborative Activity

Materials Needed: Post-it notes, large board or wall space

1. Individual Brainstorming (20 minutes)
   • Write 2–3 measurable goals or objectives per category
   • One idea per Post-it note
   • Focus on specific, achievable outcomes

Example Goals:

• "Achieve a 6% annual portfolio growth"
• "Fund 10 philanthropic initiatives"
• "Establish a succession plan for family leadership"
• "Don't fight, stay united"
• "Create educational program for next generation"

2. Collect and Cluster (15 minutes)
   • Place Post-its on board
   • Group similar ideas into focus areas
   • Label clusters (e.g., "Wealth Growth," "Family Development," "Impact Investing")

Step 4: Refine and Prioritise

Discussion and Selection (25 minutes)

• Review each cluster and identify key objectives
• Apply SMART criteria: Specific, Measurable, Achievable, Relevant, Time-bound
• Consider: Do these reflect our priorities and resources?
• Use consensus or voting to prioritise 3–5 key objectives

Priority Assessment Questions:

• Which goals are most critical to our mission?
• What can we realistically achieve given our resources?
• Which objectives will have the greatest impact?
• How do these support our long-term vision?

Step 5: Define Success Metrics

For each selected objective, define clear success metrics:

Example Goals with Metrics:

Wealth Growth

• Goal: "Achieve a 6% annualised portfolio growth while maintaining risk-adjusted balance"
• Metric: "Annualised return of 6% or higher over the next 3 years with maximum 10% drawdown"

Philanthropy

• Goal: "Launch and fund 10 initiatives that align with family values, focusing on education and sustainability"
• Metric: "10 projects supported annually, with measurable community impact reports and 80% success rate"

Succession Planning

• Goal: "Establish a comprehensive succession plan by the end of the next fiscal year"
• Metric: "Documented succession framework with identified successors and transition timeline"

Family Development

• Goal: "Create an educational programme for the next generation to prepare them for leadership and stewardship"
• Metric: "90% participation in quarterly education sessions with demonstrated competency assessments"

Unity & Governance

• Goal: "Maintain family unity and effective communication"
• Metric: "Quarterly family meetings with 90% attendance and documented conflict resolution protocols"

Step 6: Vision Backcasting Exercise

Bonus Activity (15 minutes)

• Imagine your organisation has achieved its vision in 10 years
• Work backward: What metrics must have been achieved to get there?
• Use this perspective to validate and refine your current goals

Step 7: Validate and Finalise

Final Review (10 minutes)

• Ensure goals are realistic and aligned with mission and vision
• Confirm they support your core values
• Check for balance across different focus areas
• Refine wording for clarity and agreement

Expected Outcomes

This workshop creates actionable direction. You'll leave with:

• 3-5 prioritised goals with clear success metrics
• Balanced objectives across key focus areas
• Alignment between strategic foundation and targets
• Framework for performance measurement

Implementation Framework

Goal Management Best Practices:

• Assign ownership for each goal
• Create quarterly review schedules
• Track progress with regular reporting
• Adjust targets as circumstances change
• Celebrate achievements and learn from setbacks

Resource Allocation:

• Ensure adequate resources for each goal
• Consider dependencies between objectives
• Plan for potential obstacles
• Build flexibility into timelines

Next Steps

Your goals and objectives will inform Workshop 6: Strategy (How You'll Win), where you'll develop specific approaches to achieve these targets.

This workshop is part of the Family Office Strategic Planning Series. Each workshop builds upon the previous one to create a comprehensive framework for long-term success.