Success Elements of Goal Setting

Let’s make an important distinction between a goal and an action plan. I will make this distinction by taking a page out of a common planning process that is used by thousands of people and companies worldwide. Simply put, a “goal” tells you

WHAT you want ; and, an “action plan” tells you

HOW you are going to get it.

For example, let’s say you want to go on a vacation next year.

You decide that your goal is to take a two-week vacation in Hawaii. You could choose any goal whether it would be to buy a new house, start a business, learn to play a new sport, start a new career, or build a new addition to your house.

Your action plan tells you what steps you need to take to reach your goal of going to Hawaii. For example, your action plan would show you how you will get there, where you will stay, how much money you will need, how you will budget for it, and when you will make reservations.

So your “goal” is your trip to Hawaii, and your “action plan” describes how you will go about achieving that goal.

Without action plans, the majority of goals are usually not achieved. You need to incorporate how you will achieve your goal.

An action plan also helps you to identify any obstacles or challenges that you may encounter along the way. Using our example, let’s assume you do not have enough money to go to Hawaii right now. So, your action plan would identify funding as an issue to resolve, and highlight the necessity to develop a plan to ensure you obtain enough money.

To summarize:

WHAT = Goal

HOW = Action Plan

WHEN = Time Frames

The most critical elements of goal setting common to everything I have experienced, read, and researched, can be summarized in the following checklist:

- The goals you set must be your own

Your goal must be something you desire; something you have found yourself wishing for again and again.

Some people are influenced by other people's’ dreams or wishes, but if the goal is not your own the desire to achieve it is minimal. You will be much more committed to achieving your goal if it is something that you want.

Simply put, your goals should be based on a strong desire. If you set a goal in an area where you have no interest, chances are you will not accomplish it. Set goals according to your interests, and desires.

You should also conduct a personal inventory of your current knowledge and experience that can help you to achieve your goals. Depending on what you want to accomplish, you may need to develop new abilities or skills in certain areas, or you may have to conduct extensive research to gain or enhance your knowledge.

- Goals must be written

Some people say they have goals, but they are only thoughts in their minds. In their view, they do not need to write them down. Writing down your goals, however, helps to both clarify and organize your thoughts.

By committing your goals to write, you are reinforcing your desires. You make an even stronger commitment to accomplish your goals by developing specific action steps, and time frames.

Some people review their goals before going to sleep. This review allows the sub-conscious mind to reinforce your goals while you are sleeping.

I have found this process useful especially when faced with a significant challenge. An excellent book on the power of the subconscious mind is “The Power of Your Subconscious Mind”, by Dr. Joseph Murphy.

- Goals must be specific and measurable

An example of an inadequate goal statement is, “to be happy”; it is not specific and is difficult to measure. In this example, you need to identify exactly what would make you happy?

What would then be your goal?

If your goal is to make more money, be specific: how much money, when will you have it? Your action plan should show you how you will do this. Don’t forget to set a time limit by which each action step should be accomplished.

- Goals, and action plans to achieve them, must be aligned with your values

If you set goals that are inconsistent or in conflict with your values, chances are you will not only cause yourself internal stress, but you will jeopardize your core self-image.

A good example of this comes from a dear friend of mine who set a one-year financial goal to pay off his mortgage. To reach his goal, he took a second job. One of his core values, however, was to spend time with his family.

As you can well imagine, with two jobs he had very little time left for his family. In this case, his goal conflicted with his values and created internal conflict. Although he kept his goal of paying off his mortgage, he re-adjusted his action plan and time frames.

Rather than continuing to work at his second job, he reduced some of his discretionary spendings which enabled him to save more money. And, yes, he did succeed in paying off his mortgage — it took him 3 years instead of 1.

- Goals must be realistic and believable

Goals should stretch your abilities, but not to the point of being unrealistic. For example, you decide your goal is to obtain a university degree in two years. For financial reasons, however, you have to continue working and can only take courses part-time. In this case, obtaining your university degree in two years is unrealistic.

Your goals should be believable, otherwise, how will you be able to convince yourself your goals are attainable.

Also, remember to set your goals for where you want to be tomorrow. I have known some people to set goals in areas where they already possess what they set out to achieve. Choose your goals so that their achievement will make your personal, or professional life, more rewarding or fulfilling.

- Reward yourself

As you accomplish each step in your action plan towards the final attainment of your goal, take time to reward yourself. Be specific in deciding what your reward will be. It does’t have to be a big reward, but it should be something worth having or doing.

This reward will also help to keep you motivated to complete the remainder of your action steps because you will have something to look forward to after each step is completed.

- Re-evaluate and monitor your progress

At this point, you have identified your goal, you have created an action plan, and you have started to initiate the steps detailed in your action plan. What now?

In my opinion, you should evaluate your progress every three months. Go back to your written action plan, and update it. Look at your action plan with a critical eye. Have you accomplished what you said you would in the specified time frame?

As a result of what you have completed to date, and from what you have learned, do you need a different or a more specific action plan? Do you need to revise the entire plan? Are there any steps you have overlooked? Are there steps that need to be broken down into smaller steps?

If you are not on schedule, the task you now have is to identify the reason why. After you have identified the reason, adjust your target date and move forward. Do not beat yourself up because you have not met your original time frame.

Learn from your mistakes and move forward. You can’t change the past, but you have complete control of your future! Remember, life is a continuous learning process, and attaining your goal is no different.

If you are right on schedule, pat yourself on the back. Recognize your achievement, and reward yourself.

"Success only breeds a new goal. The golden apple devoured has seeds.It is endless." Bette Davis