How I Set Goals
The new year is fast approaching and for some this means new years resolutions. If this has been you in the past and you have been unsuccessful, I want you to try goal setting in 2019.
Goal setting has transformed the way I live my life. To create goals I utilize Zig Ziglar's 'Wheel of Life' framework. Ziglar's Wheel of Life separates your life into 7 segments: Spiritual, Career, Family, Financial, Intellectual, Physical, and Social. The concept of the Wheel of Life is that every part of our life is important, and when one area is out of harmony or out of balance, it puts a strain on the other areas. My wife and I aim to create 1-3 goals for each segment. Yes, we do goal setting together! We have done this since our first year of marriage and I honestly feel it is why we have such a strong relationship with one another. It keeps us on the same page, ensures that both of us have a voice, and that we always know what each others dreams & desires are.
So, now we have the framework in place, how do we create these goals? I use the SMART method to create goals. There are a few naming variations to this acronym, but I like this one: Specific, Measurable, Achievable, Realistic, Time-sensitive. In my experience each goal must meet the SMART criteria in order to be successful.
Here is an example:
Non-SMART goal: I want to save money in 2019.
SMART goal: I want to save $2,000 by May 1st 2019. Breaking that down, I need to save $500 each month or $125 each week until May 1st.
The non-SMART goal is vague, not specific, not measurable. The SMART goal meets ALL of the criteria of the acronym and you are more likely to achieve it.
Here are a couple of my goals for 2019:
Career: Attend 4 networking events (1 a quarter)
Financial: Mortgage balance end of 2019 = $289k. (Currently at $307k: $18k / 12 months = $1,500 a month payment)
Now, how can you ensure you hit all of the goals you have created? If you created 2 for each segment, that's 14 goals! If you try to do everything in January you will fail, but if you break them down across the year, you will be much more successful. At the beginning of each month my wife and I will select 2-3 goals to focus on and attack them. Goal setting works a lot like budgeting, the more you do it, the easier it gets. Best of in 2019 and I hope that goal setting works as well for you as it does for me.
Greg Reid said "a dream written down with a date becomes a goal. A goal broken down into steps becomes a plan. A plan backed by action makes your dreams come true".