How Do You Set Your Goals?
Every goal should be SMART - specific, measurable, attainable, relevant and time-bound. Goal setting is the process of deciding what you want to accomplish and putting together a plan to achieve the result you want. For entrepreneurs, goal setting is an important part of business planning and for other individuals it is important to do this so you actively work towards growing and achieving progressive success.
For most people, properly defining their goals is a very hard task. They know what they want to do and they're perfectly willing to work on it but they have trouble creating a plan to get there. That is the reason every goal should be SMART:
Specific - For example, I want to own a 4bedroom home in Kingston 6 valued no less than J$40 million by 2019.
Measurable - I want to reduce my debt to only my mortgage and have a mortgage with monthly payments of no more than J$250,000
Attainable - Home ownership can be attained by 2019 if I save 25% of my current income for the deposit and purchase payments and monthly mortgage qualification will be approved if I pay off my current debts by putting an additional 10% of my salary towards debt payment. This means I will have to start taking lunch to work and reduce my supermarket bills ( no more wine and bacon).
Relevant - Home ownership will offer security when I'm older.
Time-Bound - November 2019
When you set goals for yourself, it is important that they motivate you: this means making sure that they are important to you, and that there is value in achieving them. If you have little interest in the outcome, then the chances of you putting in the work to make them happen are slim. Motivation is key to achieving goals. To make sure your goal is motivating, write down why it's valuable and important to you.
Ensure that you have your goals in writing, somewhere you can get back to it and tick the ones you achieve and explain why you didn't achieve the others. Hold yourself accountable. I sometimes write mine in a book I plan to keep for the year. For the past 2 years however, I have mine saved on my Google Drive instead of a book and I update as I need to.
Setting goals gives you long-term vision and short-term motivation . It focuses your acquisition of knowledge, and helps you to organise your time and your resources so that you can make the very most of your life. The key is to ensure that you set them and you hold yourself accountable for achieving them.