Elevating the Goal Setting Process

Did you know? According to Forbes, only 8% of people are able to achieve their goals. This means approx. 92% of people fail to achieve their targets. 

If you want to succeed, you need to have clear goals. Goal setting is all about creating an action plan which will encourage and lead you towards it. It demands time, SWOT Analysis and a considerable amount of research and work.  It is a voyage which requires conscious efforts and most importantly, it should be easy to perceive with a clear idea of your destination. In this story, we’ll take you through the goal-setting tips that will help you to succeed. 

And yes, before we start, here is one rule that you need to be pig-headed about: If the plan doesn’t work, change the plan but never change your goal. 

#1. Set Goals That Motivates You  

Consider the two sentences: ‘I can try to wake up at 5:00 am.’ Another sentence is: ‘I must wake up at 5:00 am.’ Which looks more motivating and inspiring? Obviously, the second one. 

Set goals that are on high priority, valuable to succeed and motivating. If you fail to do this, you end up with too many goals with slim chances of achieving them. 

A small exercise: To make sure that the goal motivates you, ask yourself the following question. ‘What would I tell people to persuade them that it is a worthwhile goal?” Whenever you deviate from your journey of achieving this goal, you can refer to this motivating statement to help you fuel your energy and determination. 

#2. Set SMART Goals 

SMART stands for Specific, Measurable, Attainable, Realistic & Time-Bound. Let’s start with each of them: 

 

  1. Specific: Clear and precise goals have more chances of success rather than ambiguous ones. And to create a specific goal, you need to answer the following questions:
  • Who is involved?
  • What do I want to achieve?
  • Where (location)
  • Which are the requirements and constraints?
  • Why (Purpose, benefits, and risks)

For Example, Your general goal can be ‘Getting more referrals.’ But a precise goal will be ‘Getting at least 4 referrals per month by arranging 1 seminar per month. 

  • Measurable: How would you know if you have accomplished your targets? The key is to set a concrete and clear-cut criterion which is interpreted by everyone correctly. How about stating the quantitative criteria: ‘How much or how many’? This will help you to stay on your track. Again with the bigger goals and bigger achievements, the duration is also far away. Break down your goals and ways to measure it so you can have a reality check every week or a month.
  • Attainable: Is your goal achievable? Is it realistic considering all the challenges? Have you ever observed that once you set your goal and are determined to achieve it, you outreach your capabilities and abilities to achieve them? But having said that, understand the constraints, marketing / financial environment and assess your capabilities before you pen down your objectives. 

For Example: If your strength is marketing and you hate numbers, it is difficult to ace the number-crunching career. Introspecting your strengths/weakness is essential before getting started. 

Realistic: Only you can decide how high and realistic your goal can be. For example, Your goal can be reading 3 books per week. To make this goal realistic, it must represent an objective which you are able to work on and implement. There are three ways to determine whether your goal is realistic or not: 

  • Check whether you have accomplished something similar before
  • Whether the situations are likely to favor to achieve it. 
  • And lastly, whether you have enough resources to accomplish it (Finance, Skills, etc.)
  • Time-Bound: Every goal needs to have a deadline. If there is no time frame, how you will be able to measure it and achieve it. I want to start my own business ‘Someday’. Now, what does someday means? Stating ‘I want to by 1st May’ sounds motivating. 

#3. Chart Out A Plan

After you write down your goals, you need to review your efforts and progress to ensure you’re on track. Dedicate time at regular intervals to review your goals and take corrective actions, wherever required. 

Goal setting is much more than we think. Unless you make them crisp, clear and concise, your odds of success reduce to a large extent. 

For Example: If your goal is buying a dream house 10 years down the line, then try to break the amount required, how much you need to save every year or bi-annually and which other options you need to explore to buy your dream house? Monitor and measure the progress of your goals every bi-annually and take corrective actions, wherever required. 

So what’s your goal for today?