More people should set lofty goals, says Build-A-Bear Workshop CEO Sharon Price John.

If you don't, particularly out of a fear of failure, you could fall short of getting what you really want from your career or personal life, John says.

"It's heartbreaking to me that people often have an inability to really dream big because they think they're going to disappoint themselves," she says. "It's somewhere between the ages 7 and 20-something that we lose the ability to [wish for what we want]."

Lofty goal-setting has helped both John's career and her St. Louis-based company: After working for companies like Mattel Inc. and Hasbro, John took the helm of Build-A-Bear in 2013, the year after the company reported a $49.3 million loss.

Pushing for profitability, John told her employees that she wanted to expand the company's consumer base without losing its heart, she says. The brand now releases both culturally relevant and nostalgia-fueled characters, encouraging kids and 30-somethings alike to buy and stuff trendy animals like sugar gliders or capybaras, and clothe them in Hogwarts uniforms.

Build-A-Bear is now on a record-breaking streak. On Thursday, the now-profitable company posted its highest annual revenue — $496.4 million in the 2024 fiscal year — for the fourth consecutive year, according to an SEC filing.

How to set and achieve large goals

John has been journaling, in some capacity, for most of her life. To think about her long-term goals, she keeps a running list of 100 wishes she has for the future, she says. Earlier in her life, one wish was to move from her Tennessee hometown to New York. Later, that wish evolved into hoping to live abroad.

"It can feel like the hardest thing you'll ever do, writing down 100 wishes without filtering yourself [or] saying, 'I'll never do that,'" John says. "That's the point of the exercise. It can help you figure out what you actually want to be when you grow up."

DON'T MISS: How to start a side hustle to earn extra money

Writing down your goals is often the first step to achieving them, experts say. It can help you stay focused and track your progress from day-to-day. Other CEOs say the habit helped them reach the pinnacles of their careers, too.

Ex-IHOP CEO Julia Stewart, who currently runs wellness company Alurx, started writing out her personal, professional and philanthropic goals after graduating from high school, she told CNBC Make It last year. In addition to jotting down his New Year's resolutions, billionaire and Virgin Group founder Richard Branson likes to share his goals with family and friends, he wrote in a 2018 blog post.

Talking out your goals with others can hold you accountable, some experts say. But John prefers to keep her personal goals to herself, she notes: She keeps a close eye on her wish list, regularly crossing off goals and adding new ones.

"I keep rewriting mine because I keep doing them all," says John.

Correction: This story has been updated to reflect that Build-A-Bear Workshop reported a $49.3 million loss in 2012.

Want to earn some extra money on the side? Take CNBC's new online course How to Start a Side Hustle to learn tips to get started and strategies for success from top side hustle experts. Sign up today and use coupon code EARLYBIRD for an introductory discount of 30% off $97 (+taxes and fees) through April 1, 2025.

Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.