Friday, January 10th, 2014

Don’t Always Believe It

I try to provide CPAs and all the people working inside CPA firms with helpful information via my presentations, workshops, newsletter, consulting activities and this blog.

Much of it comes from my many years of actual experience working inside a growing, profitable CPA firm. Some of it also comes from my extensive reading…. of books, articles, newsletters, blogs, tweets, and so on.

There is so much great information out there now via the internet. Just a word of caution, as you probably already know – – not all of it is true. I’m trying to be very careful in what I pass along and I want you to also be very careful when you hear about or read about certain trends, strategies and best practices.

My mission today is to simply share an example.

photoOn the topic of goal-setting, I have read about and heard about a study conducted by Harvard Business School over a 10-year period. The study reported that only 3% of Harvard MBAs actually write down their goals – 97% do not. The study also reported that the 3% ended up being much more successful and, over the 10-year period, were making ten times as much as the other 97% combined.

This study eventually was discovered to be fiction. Here’s the answer to an inquiry made to Harvard “Ask a Librarian” site:

I think you are referring to the “Harvard Goals Study,” reports of which periodically surface in motivational literature. We have been asked repeatedly about this research, but we have never been able to find such a study. It is frequently cited as having transpired at Yale, but librarians there have not found a trace either. 

Read the entire Harvard response here.

You can also read more about this goal-setting story here. I found it quite interesting.

The moral of the story? Be careful out there!

  • "Repetition does not transform a lie into a truth."
  • Franklin D. Roosevelt

Leave a Reply