Setting Goals – One of the themes of this real estate investing article is that I hope you’re catching on to is that there is more to being wealthy than just having money. I know plenty of rich people who are absolutely miserable. They have all the money they could ever want, but they are in terrible health, have no friends, their family despises them, they don’t have any spiritual beliefs, no hobbies, and on and on.
Just having money doesn’t make you happy; therefore, setting all of your goals around money won’t make you happy. When establishing your goals, I recommend looking at more than just financial or business goals. Here are three tips I like to use when setting goals:
- 1. Look at more segments of your life than just the financial/monetary. Take into consideration your spiritual goals, your family goals, your friendship goals, your hobbies, your mental growth, and your overall health. It does you no good to make a million dollars but have your wife leave you, your kids hate you, no friends to share in your new found fortunes, and have a heart attack because you haven’t been in a gym in five years. Have goals for every segment of your life.
- Establish the “why” behind each of your goals. Why is this important to you? What benefits will you receive? This “why” allows you to prove to yourself that this goal is really important to you and puts a great deal of emphasis on your goals to help you keep persevering when times get rough. If your “why” is big enough, you’ll find a way to accomplish any goal you set.
Set Goals for Sacrificing.
Yep, you read that right. Anytime you want to achieve something in one aspect of life, you will have to sacrifice something else. Prepare, establish, and embrace this sacrifice. For example, in order to start a part-time real estate business, you may have to sacrifice watching TV in the evenings. To improve your health, you may have to sacrifice sleeping in during the week, get up an hour early, and head to the gym. If you prepare yourself for these sacrifices and actually embrace them, then you will have an easier time sticking with your goals.
Here is a sample of my goal setting worksheet: Setting Goals Worksheet