Goal Setting – Why is it so Important?

Setting goals is something that never gave much thought. I know exactly what my final goals are but I found out that I’m not progressing as fast as I wanted.

Despite never losing sight of my end goal, not having clear smaller goals makes it so much harder to progress. It’s like we are sailing an infinite ocean trying to go to a tropical island but not knowing the way in the hopes that some day, we’ll get there.

It doesn’t mean it’s impossible to get there, but how much longer would it take? And even when we have everything planed out, there are always step backs , we cannot predict the future. What we can do is to readjust as things happen.

SMART objective
SMART Path vs No Plan Path

There are two kinds of goals, Results-Oriented and Process-Oriented.

Results-Oriented Goals

There are goals focused on the end result.
I want to get rich, I want to get in shape, I want a private jet.
It is very important that you have an end goal in mind and envision your future self.

But the problem with results-oriented goals is that there is no clear path to achieve your goals, you only see the end but you don’t exactly know how to get there.

The solution?

Process-Oriented Goals

To reach your final goal you need a roadmap and if your dream is big enough, the journey will be hard and long. You absolutely need to avoid getting lost forever, and to do this you need to set smaller goals. These smaller goals will be the path that you will walk towards your dream and that is the absolute best way to achieve them.

So how do you do that? How do you define smaller goals? Just by picking a random number? No.

What you need to do is to:

SMART Goals

You goals should not be too general like “I want more money”, they should be SMART (Specific, Measurable, Attainable, Realistic, Timeline).

Specific – You need to be clear on what your goal is, “More money” isn’t very specific. How much money you want to have? 1 Billion? Ok. Now let’s see if it fits the other criteria’s.

Measurable – If you want $1B and you start with $0, you still need $1B more to reach your goal. If you can’t measure it, how will you know how far are you?

Attainable – You want to have $1B, that’s ok, but how are you going to get to $1B? Will you start a company and sell for that amount? That might be possible, but it’s a lot easier to start with something more attainable. Find out what can you to to earn $1k, then $10k, then $100k…

Realistic – If you goal is something that’s defying the laws of physics, you should just give up. Based on you level of commitment, what can you expect to achieve? If you spend 2 hours watching Netflix and 30 minutes working on your goal, how much will you accomplish?

Timeline – Our time is limited and if you don’t have a deadline you will keep postponing it. How long will it take to achieve the first smaller goal? 1 week? Great, now start working on it, time is ticking.

This is what a SMART Goal looks like: “I will invest in Stocks, Real Estate and Crypto and make 10K in the first year, 100k in the second year, 1M in the third year….. and I will have $1B 20 years from now”.

Another example:

  • If I want to loose 100 kg in 10 month, I would need to loose 10 kg per month, or 5 kg every 2 weeks, or 2.5 kg per week.
  • Now that we have broken down the goal in smaller steps, it’s time to figure out how to actually do it. Calculate how much calories you eat daily and how much you have to burn.
  • Now all that’s left is to find a good workout and foods that match you calculations.

The last thing that I want to talk about is that although your goal should be specific and realistic, it’s also important to aim high. Reaching $1B might sound unrealistic but IS possible. Even if you only get half way, $500M it isn’t so bad, is it?

The most important thing is to understand that reaching your goals is a journey and not something that you can do overnight (if you can, you’re not aiming high enough).

Fall in love with the process and the results will come.

Eric Thomas

I hope that this inspired and helped you to work towards your goals with a clearer vision.

Other blog posts you might find interesting:
How to take Advantage of Opportunities
The Importance of Delayed Gratification
The Power of Consistency

See you next time.

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