Goal Setting for the New Year
How to effectively set goals for the new year
It's getting to that time of year; the time when everyone is setting new years resolutions. Maybe you want to buy another investment property, sell one of your properties, or finally build up to running in the half-marathon that's passed you by every year for a decade. Whatever your focus is for the new year, you need to properly set goals to give yourself the best chance of success in the year ahead. Here are our top tips for new year goal setting.
Don't fall into the comparison trap
Like a lot of things in life, it can be easy to fall into the comparison trap, thinking about what other goals someone else might be setting, or wondering what people might think of the goals you set for yourself. If you're prone to comparing yourself, try going for a long walk, listening to some of your favourite music, and get present to think of exactly what you want for the next year ahead.
Write down your goals
It's all well and good to get motivated and think about all your goals at the start of the year, but they'll soon be forgotten if you don't write them down. Write down your goals and keep them in a place where you'll be able to read them at least a few times each day. This will help to keep you inspired as challenges arise, and it will also be a daily check-in to make sure you're still working towards those original goals or prompt you to change your focus.
Make your goals S.M.A.R.T
Most of us are familiar with S.M.A.R.T. goal setting. The popular acronym highlights that your goals need to be specific, measurable, attainable, relevant and time-sensitive. As you think about your goals and write each one down, ask yourself if they are S.M.A.R.T. and keep tweaking your goals until they're crystal clear.
Goals aren't set in stone
Sometimes the goals we don't reach can teach us more than the goals we tick-off with ease. The key thing you'll probably learn from these situations is that some of your original goals weren't as important as you thought. There's nothing wrong with this; in fact, it's an excellent way to get clear on what you value most.
As a property investor, you've most likely ticked off some financial and investment goals in your life. Taking some time at the start of the year to reflect on the past year, and your goals for the year ahead is an excellent way to create your vision for the year and get started on the right foot.