As I mentioned in my other post about creating and tracking positive daily habits – I’ve been listening to a lot of podcasts lately. I’ve been working on making some big personal and professional changes for myself and listening to how other successful people did it has helped a ton. One of the biggest lessons I’ve learned so far is the importance of having positive daily habits and setting goals…the right way. Click on the hyperlink above to see how I completely changed my daily routine by creating and tracking positive daily habits for myself.
Lots of people set New Years resolutions yet most of them fall short of actually accomplishing their goals. The biggest problem? They don’t set the right kind of goals. Wouldn’t it be great if there was an easier way to set and track goals that would increase your chances of realizing them, tenfold? Well, actually, there is!
The first step to getting better at accomplishing your goals is to set the right kind of goals. Goals should be specific so that they can be easily measured and broken down into smaller steps. Being able to break your goals down into smaller pieces and put them on a timeline will make them even better.
I’ll give you an example using a goal that I want to accomplish this year. This year I want to start my journey to becoming a real estate investor. But that is a very broad goal so I need to adjust it so that it can be measured and broken down into smaller pieces. To be more specific, I want to start my journey as a real estate investor by purchasing rental properties as well as wholesaling fixer uppers to other investors. To make it more measurable, I will make it my goal to purchase 2 rental properties and complete 6 wholesale transactions within the next year.
Now, check out how I broke down my goal into specific, measurable parts for each day, month, and quarter for the year. I started from my big goal for the year and worked backwards all the way to my goal for today.
Goal for this year: Buy 2 rental properties and wholesale 6 properties to other investors
Goal for this quarter: Put in offers for 6 potential rental properties and complete 2 wholesale transactions
Goal for this month: Work with a broker to find and view 5 potential rental properties and schedule 5 appointment appointments for potential wholesale properties
Goal for this week: Create a system for getting new leads for properties and schedule time to set appointments
Goal for today: Use Redfin and Trulia to practice analyzing potential properties
*At the end of each quarter go over you goals again to make sure you are still on track to hit your year end goal
Simple note page I used to break down my goals
Now, if you’re not familiar with real estate investing, my goals above might not make much sense to you. However, you can still use the same system I did to create goals of your own. Use my examples to compare with your own goals and help you make them each specific and measurable.
If you use this system and you stick to it I guarantee that you will have a much higher chance at accomplishing what you set out to do this year (2019). If you haven’t already, I highly recommend printing out the pdf at the bottom of my last post to help you set and track positive habit as well. It’s helped me and it can help you too!
Best wishes and Happy New Year,