SMART goals. Use them when you want to make sure your goals have the best chance of success.
This means that instead of just having pie in the sky wishes like, “I want to be the next Oprah Winfrey, (or Roger Federer, or Steve Jobs)”, you get very specific about what you want. How do you do this? Use the SMART way of writing your goals.
Let’s say my goal is to be the next Oprah. What are the particular qualities or attributes about Oprah am I wanting? Do I want to be a single 50-something woman with a lot of money? Do I want to own (no pun intended) a cable channel and a magazine? Am I interested in meeting and talking with leaders and change-makers from the world over? Can you see how there are an infinite number of ways to define this?
What SPECIFICALLY do I want? This is the first step in setting a good SMART goal.
Next, you want to make sure your goal is MEASURABLE, in other words you will clearly know when you have reached it. Continuing with our goal to be more like Oprah, let’s say you wanted to have enormous amounts of money like her. If you state it in terms of a specific amount, then it is measurable.
GOAL: I want to have 12 million dollars in my bank account. This is specific and measurable.
Now, is it actionable? Are there steps you can take to make this happen? Yes. How you do that is the key, and will most likely have many smaller steps to complete. For instance, perhaps you want to buy and sell real estate to make money. Or buy and rent it. Or develop land into commercial properties. Or write and sell a book on How to Make Money in Real Estate. Endless options. You do have to DO something to make it happen. So let’s say your goal will look like this:
GOAL: I will buy/sell real estate properties until I have 12 million dollars in my bank account. Specific, measurable and action-oriented.
Next we ask, is this a REALISTIC goal? Do you believe I can do it? Certainly it has been done many times by many people, but the key here is your belief in my ability to do it. You may want it, but are you willing and capable of following through? The test isn’t if you are afraid to do it, but rather do you feel passionate enough to push through the fear and do it anyway. Any worthy goal will usually cause you to stretch outside your comfort zone – Outside the Box, if you will. Take some time and make sure you feel up to the challenge your goal presents. Also, take the time to envision what your life will be like once you achieve it. This is very powerful. Then, we tweak the goal or reaffirm it.
GOAL: I will buy/sell real estate properties until I have 12 million dollars in my bank account. Specific, measurable, action-oriented, realistic.
And last, the goal needs to be Time Constrained. To say that you want to have 12 million dollars is great, but unless you have a deadline you could be working toward this the rest of your life. By when do you want to have this accomplished?
GOAL: I will buy/sell real estate properties to accumulate 12 million dollars in my bank account by December 31, 2014. Specific, measurable, action-oriented, realistic and time limited.
Now you have a SMART goal. Of course this goal is going to take a bit of time and effort. To reach it you will need to break it down into smaller goals. Examples might be:
- Buy and resell 12 properties by 12/31/12.
- Hire 6 new agents to work for me by 5/31/12.
- Secure Investors for 5 million dollars for subdivision project by 4/30/12.
These are a few examples, and you may need more, but with mini-steps with deadlines, it will be much simpler to stay on track to reach the Big Goal! For more examples of SMART goals, see more articles!