Financial strategies for small business owners There is absolutely no doubting it, 2020 has been…
Here’s how the world’s best performers set goals and consistently achieve them
Have you already forgotten or pushed aside your grand, over-ambitious New Years’ Resolution?
Whether your goal was to sort out your finances, head to the gym more often, or work on your dream business, they may seem impossible but there are ways you can realistically achieve all of them and more.
Goal setting is important for all aspects of your life. They give you purpose, aims and motivation for tough times to ensure you come out the other end better and stronger.
And while it’s great to dream big and set life-changing goals, what’s the point if they’re unachievable?
Individuals who accomplish success understand what it takes to set big goals and reach them. As a financial Adviser in Newcastle, I’m lucky enough to be able to work with some incredibly successful people – all of whom set goals.
They always have at least one goal on the to-do list and are taking steps to reach it… and what’s crazy is that even though all their goals are different, they all seem to have very similar strategies for reaching them. So, what’s the key to their juicy success?
Well, it’s not just one key, it’s five!
To help you make 2021 the year you begin turning your dreams into reality, here are my top 5 goal setting tips:
1. Set goals you want to achieve
If you’re stuck on picking an attainable goal, think about your values – a more meaningful career? Higher income to be more financially secure? Or perhaps you’d like more time to spend with your family?
What are your passions? Your passion is what will drive your happiness and ultimately, your goals.
“You have to be burning with an idea, or a problem, or a wrong that you want to right. If you’re not passionate enough from the start, you’ll never stick it out.”
– Steve Jobs
You’ll be far more likely to achieve your goals if they have a value attached to them and you are passionate about them.
2. Put pen to paper
A study 1 found that people who write their goals down are more likely to accomplish them.
Want some proof? Take Bruce Lee. In 1969, he wrote this letter to himself:
I, Bruce Lee, will be the first highest paid Oriental superstar in the United States. In return, I will give the most exciting performances and render the best of quality in the capacity of an actor. Starting 1970, I will achieve world fame, and from then onward, till the end of 1980, I will have in my possession $10,000,000. I will live the way I please and achieve inner harmony and happiness.
By the age of 32, Bruce Lee achieved all his remarkable career goals and more.
Want even more proof?
In 1979, the Harvard MBA program conducted a study where graduate students were asked, “have you set clear, written goals for your future and made plans to accomplish them?”
Only 3% had written goals and plans.
Ten years later, the same group was interviewed again. The 3% who had written goals were earning, on average, ten times as much as the other 97% of the class! 2
Right now, take a few minutes to write your goals down and map them out with as much detail as possible.
3. Visualise your success
This is a strategy that has been used by some of the world’s most elite athletes including Tiger Woods and Michael Jordan 3. It’s called visualisation.
We must see it before we believe it. And believing in yourself is what will make it come true. Visualising helps your brain to understand what you need to achieve your goal, whether that be resources, people, or circumstances. Picturing the outcome will help your plan grow.
4. Review your goals and your progress regularly
Have a set schedule to review your goals. It may be once a week, once a month, or once every six months depending on the nature of your goal and your free time.
Picking a specific (and let’s face it, likely unrealistic) deadline can easily lead to stress and frustration which can affect your mindset and your goal progress. And we certainly know that limiting beliefs can become some of the biggest roadblocks to success.
Author of Wall Street Journal and national best-selling book Ultralearning, Scott Young, suggests setting a period of focus, instead of a deadline.
This will help you track your progress and identify what is blocking you from your goal.
“Starting with a period of focus can be useful when you’re not sure what the natural timeframe is for a certain goal. Then, as you’re working on the goal, and have a better sense of where you might end up, you can set a more traditional deadline to motivate action.”4
Understand that flexibility is key to you truly achieving your goals and dreams.
5. Make it real
Tell the world! We often like to keep our career and life goals personal and hidden away from the world. Most of us are afraid of asking for help or failing. But failure is part of success.
“Only those who dare to fail greatly can ever achieve greatly.”
– Robert F. Kennedy
Tell your family, friends, and colleagues about your aspirations. They will be your cheerleaders on the sideline encouraging you along your journey. It’s okay to seek help from friends or professionals that can make your goal a reality. It’s admirable and it shows that you’re serious about bettering your future.
Implementation of these five steps can enable you to have a different approach to your goals to help you succeed in 2021.
If you have a financial goal in 2021 or beyond, our highly experienced team of specialist financial advisers can help you accomplish success.
DISCLAIMER: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group and Sydney Wealth Advisers are subsidiaries of Coastal Advice Group which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.