I tend to be sloppy with goal setting. I usually write them down at the beginning of the year, then dust them off at the end of the year to see which ones I accomplished. This is surely better than not writing them down at all. But goal setting is important. Too important to be relegated to a twice-per-year afterthought.
In June, I set goals for the 3rd quarter. I probably wrote them down somewhere, but they were still not front of mind on a daily basis. I’ll end up achieving both of them, which feels good. But, I feel that I could’ve accomplished more if I’d really been focused.
Now, I’m getting serious about the goal setting process. I’m currently planning my 4th quarter objectives, but having trouble narrowing my focus. Have you ever had that problem? There are so many things we’d like to do… How to pick only a few?
Here are some questions I’m asking myself to figure out which goals I should pursue. Maybe they can help bring you some clarity too.
Whats the one goal that, if done, makes everything else easier or unimportant?
This was adapted from Gary Keller’s must read book “The One Thing.” He calls it “the focusing question.” I think his thinking is totally correct. However, I have trouble executing on the idea. I think a lot of people do. That’s part of what inspired this post. How do you pick the one thing? Prioritization matters.
How easy is it to achieve?
What’s your low-hanging fruit? Sometimes there are great things you can achieve with just a little bit of extra effort. I do this a lot. I definitely look for goals that are high value, but not too difficult to achieve.
What’s the size of opportunity?
Is the goal even worth pursuing? If the opportunity in this goal is minimal, it can probably be eliminated in favor of higher value objectives.
What’s the risk of pursuing this goal?
What can you lose in pursuit of this goal? Will it take everything you have to achieve it? What else might you miss out on?
What gets you excited?
To me, this is one of the most important questions. You have to get excited about your goals or it will be tough to achieve them.
What fits your skill set?
Everyone has a skill set, and a knowledge base right now. This can effect what goals you should pursue. I think a realistic self-assessment is vital.
What will teach you the most?
Which goals will stretch you? Will they force you to adapt? Become a better person? These are probably my favorite goals.
What fits your networks capacity?
Sometimes you shouldn’t pursue a goal until you have the right people in place to execute it. I didn’t start flipping houses until I met top quality general contractors to partner with. When I started looking for private lenders, the first few came from my network. If your current network doesn’t support your goals, make it a goal to assemble the right team.
One of my goals for the 3rd quarter was to find an assistant to handle back-office operations for my realtor business. I found an A+ team member. She was already in my network!
My other goal was to get a refinance done on two investment properties. It hasn’t closed yet, but we’re close. The banker helping me was also already in my network!
Thanks for reading! I’d love to hear about your goal setting process. Send me an email at rob@robdrum.us