Step 3 Goal Setting

Estimated time for completion: 2 hours

Inspiration from Dale Calvert:
“Your income is in direct proportion to the value you give the marketplace.”

 

Goal setting is part of planning. If you fail to plan, you plan to fail. That is so important. I am going to say it again. If you fail to plan, you plan to fail. Before I show you how to set your goals quickly and easily, I want to tell you a story about the importance of goal setting.

In 1979, the Harvard MBA program ran a study on goal setting. The students were asked about their goals. 3 percent had written goals, 13 percent had goals in mind, and 84 percent had no goals at all.
Ten years later, they followed up with the students. The 13 percent who had goals, but hadn’t written them down, were making twice as much as the 84 percent who had no goals. No shocker there. But the real shock came when they interviewed the 3 percent who had written goals and discovered they were earning a whopping ten times more than the other 97 percent combined! If that is not a testimonial to the importance of writing your goals, I don’t know what is.

It’s not hard writing your goals, when you have a simple formula to follow. You’re going to write your goals using the S.M.A.R.T. Formula.
S.M.A.R.T. is an acronym for
S – Specific

M – Measurable

A – Actionable

R – Realistic

T – Timed

Writing your goals is a very important factor in your success, so we’re going to take a couple of minutes to look at S.M.A.R.T. goal setting in detail. When you write your goals, write them as if someone is going to read them when you’re not around. Keeping this in mind will help you write more targeted goals. Your goals will have 5 parts and follow this formula:

S – Specific

Be as specific as possible. Simply saying, “I want to be more successful this year” is not a specific goal. Success means different things to different people. It could mean making $10,000 a month, $100,000 a month or learning to fly a helicopter.

M – Measurable
What is your benchmark? How will you know when you have reached the goal? If you want to start making $10,000 a month by the end of the year, your goal would be, “To make $10,000 a month by the end of (this year’s date).

A – Actionable


To achieve your goals, you have to be in control of the actions involved. For example, you could have a goal of making $10,000 a month by the end of the year by contacting 10 new joint venture1 prospects every day. That is an actionable goal. You control the actions being taken to reach your goal.

A goal of winning the lottery this year is not an actionable goal. You have no control over the numbers being drawn in the lottery.

R – Realistic

It’s great to shoot for the moon, but if you don’t have a space ship, you are setting yourself up for a very difficult journey. When you are setting your goals, keep them lofty, but realistic and achievable. If you have never approached anyone about a joint venture proposal, setting a goal of developing 50 joint venture partnerships in the next 2 days is not realistic. Setting a goal of 5 new joint venture partnerships by the end of the week is realistic. Setting your goals too high leads to discouragement. Being realistic and achieving your goals inspires you to set more goals and helps you become more successful each time you achieve your new goals.

T-Timed

 

You need to set a time limit for your goals. Simply deciding you are going to get 5 new joint venture partners is too open ended. When you say you are going to get 5 new joint venture partners by the end of the week, that puts your goal into perspective.

An example of a S.M.A.R.T. goal would be:

“To develop a joint venture partnership with 5 new prospects by the end of the week.”

When you are setting your goals, you should work on short – medium – and long-term goals. Short-term goals are anything you can achieve in the next 60-90 days. Medium term goals are anything you want to achieve in the next 6 months to a year. Long-term goals are anything from two – five years.
To achieve your goals, you should be working on them all at the same time. Do not wait for 6 months before you start working on your 6 month goals. Start working on them right along with your short-term goals.

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