In our last post we worked backwards to try to ascertain what our ultimate goal was going to be. With this now in our brains I thought some goal setting ideas may be of assistance. I am not the Goal setting guru by any means but I have tried numerous techniques and styles and I thought I would share what works for me, hopefully some of you will have better ideas that I may also be able to implement.
This we worked out in our last post, How to achieve success in life and business. If we know what our main goal is then I personally am a strong believer in working backwards. I don’t need to know every step that I am going to take to achieve my main goal straight away, but I might be able to have an idea of some steps that are going to take me in the right direction.
For me at the moment I sadly don’t have 2 million to invest in property or I would already be there. Am I going to have 2 million by the time I retire if I don’t change anything about my current life, no probably not. To continue to do the same thing and expect a different outcome is insanity!
So what do I need to change. I need to find a way to earn more money. I need to have a way that I am going to use the additional money that I earn, and I feel that I probably have to look at myself and the way that I do things to see if I can improve on that.
So I have broken down my main goal into some easily definable next steps. Clearly if I can achieve these next steps then I can work out from there if I am heading on the right track to achieve my main goal or if I need to adjust my route.
I generally aim for annual and quarterly goals. So knowing that I would like to find a way to earn more money, work out what to do with the additional money and improve myself I can set 5-6 goals for this year that I can then break down into next steps for those goals.
I am looking at the three main aims and I can see some obvious next steps that jump out at me.
Find a way to earn more money,- Research different options for earning money outside of my current employment. Explore ways in which I can maximize my current earning potential in my employment.
Ways to use money,- Do I need to look at my current expenditure can I alter this to help me achieve my goals? Do I have a planned route into buying properties when I start to earn more money?
Improve myself,- This might be tied in with the other two goals, it may be that improving my qualifications will help me earn more money in my current employment, or it could be that reading and researching will improve myself and help with a new way to earn additional income.
The above next steps and ideas are what I used to create my quarterly goals. I use quarterly goals because it creates goals that are obtainable and in the future that is clear to see and easy to remain accountable. It is pointless having a goal that is five years in the future because I will end up leaving it thinking I have loads of time!
You need to stretch yourself with your goals, they shouldn’t be too easy to achieve but they shouldn’t be impossible either. I also break down further by creating the next steps for these quarterly goals and using these as my weekly goals. I have found that this is a very good approach to being able to manage myself in such an accountable way that it is hard for me to ignore or forget about my goals and the tasks that I want to get achieved each week.
My goal setting ideas
From the above content I have now come up with some goals for the next quarter that I can measure and be accountable for.
1. Find a way to earn additional money and start to implement it.
2. Evaluate my current expenditure and see if I can make savings.
3. Research one way that I can improve my current value to my employer.
4. Research the property market and different approaches to building a property portfolio.
5. Read one improvement book a month to find a better balance in my life.
6. Get fit! (you can’t be efficient if you are ill)
What next ?
OK so the above details my quarterly goals based on a target of my main goal. I will break these down into next steps so I can create my weekly goals. I will also use these to evaluate my progress both weekly and at the end of the quarter when I review how well I have done. It is at this point that I can then look at my further next steps to see what needs to happen next. I personally read Micheal Hyatts the best year ever book which was a real inspiration to me and has largely impacted on my goal setting ideas so I highly recommend that.
How do you set your goals?