ANSWERS: 2
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Depends on what. Everyone says aim high for everything, but I think you shouldn't be too unrealistic. Like, knowing what you're capable of is very important. But having high standards, knowing what you want and planning out how to accomplish that is how you set them. Kind of rambling but it makes sense sort of.
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It's hard to answer specifically since I don't know what you do or what standards you're referring to, but generally speaking, setting standards involves setting goals. One way to set goals is the S.M.A.R.T. system. Using this system you set goals that are Specific, Measureable, Achievable, Reasonable for you and Time-bound, meaning you use milestones and dates. As to why high standards are important, let me ask you, have you ever eaten in a restaurant? Would you rather eat in a restaurant where the silverware and plates were clean, or would you accept a lower standard, whereby the dishes were wiped off with a rag and then re-used for the next customer? Standards are a measure of how much you care about what you do and people (customers) will always weigh standards against price to determine value.
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