you're reading...

Goal Setting

Setting Goals The SMART Way

I received another great comment from Cooliojones from my recent posting called A Video Clip That Motivates You To Wealth. Coolio’s comment was:

Ah, the Secret. I looked at this video a while back, actually I have it! It’s great as an inspirational source, but my question is, how long will you keep that feeling with you? How long can you sustain the drive? If need be, I think people should look at the video in parts, one part per day, to keep the momentum going. Maybe in the morning before the day starts. What do you think?

I completely agree that generally attending a short seminar gets a person excited and motiveated but within a few short days or weeks, the motivation is gone and they are back in their old groove. This comment made me think about a recent Strategic Sales training seminar that I attended and the importance that was stressed on Goal Setting. During this course, I learned the importance of using the SMART method.
The SMART Goal Setting Method

  • Specific
  • Measurable
  • Attainable
  • Realistic
  • Timely

Being specific is about having a clear definition of what you want to achieve. For example, rather than say, “I want to be rich” clarify and specify what rich means to you. You could change this to read, “I want to have $100,000 or $XXXX in residual income.” The purpose of this section is to identify the What, How or When the goal will be achieved. I personally believe that this is the most important part because I love the success metrics and knowing where I’m at!

This part is an extension of the specific section and ties with the Timely section. The ability to measure the result is important because you need to know what’s working and what isn’t. If you’re goal is $4000 in residual income in a year and you’re only at $0.50 a day after 11 months, there needs to be an adjustment!

This is where we get into the nitty-gritty of goal setting. A goal may be realistic (like $4,000 in monthly cashflow) but if it seems like it is too far out of reach for your mind, it may not be attainable. The attainability of a goal is what drives you to succeed. When a goal is set and you truly believe it is possible, your mind will begin to look for opportunities that move you in the right direction.

Realistic and Attainable go hand-in-hand. While a goal may be attainable (like $4,000 in residual income per month) it may not be realistic for you. Both Attainable and Realistic checks should still push you to achieve your goals; however, you should believe, based on your abilities, that you can reach the goal. Being realistic can also be directly dependent on time. While $4,000 per month is attainable, it may not be realistic to achieve it within one month.

This section is where the great goal setters of all time separate the successful from the unsuccessful. If you don’t have a timeline set for your goal, you will probably never achieve it! Think of it this way, if you do everything correctly and follow the previous 4 sections your goal will look something like this: “Achieve a residual income of $4,000 per month.” That’s great BUT when do we want this to happen? A goal should help keep you motivated. Without a time line, you’ll be more inclined to procrastinate.

Combining all of the pieces of the SMART method your final goal would end up like this:

“I want to have a monthly residual income stream of $4,000 by June 23rd, 2008.” Create your own goal and post it around your house so you can see it and be reminded of your target. Let your subconsious mind do a lot of the work!

Remember, the only one who can create success for you is you and the only one to blame for not being successful is (yep that’s right) you!