Effective leaders must first identify and prioritize their goals. This involves understanding the organization's vision and mission, conducting a SWOT analysis, and engaging with stakeholders. Leaders should categorize goals based on their time frames and impact. Using frameworks like SMART (Specific, Measurable, Achievable, Relevant, Time-bound) for short term goals and OKRs (Objectives and Key Results) for long term goals can help in setting clear and actionable objectives.