GOAL SETTING – Larry Goins

October 24, 2006 — Leave a comment

I want to ask you.

1. Do you have a Will?

2. Do you have written goals for the next one, three, five and ten years?

If you answered yes to the first question but no to the second, you are planning more for your death than you are while you are here. I want to challenge you to start setting some goals, but remember if a goal is not in writing, it is simply a conversation. It must be in writing and it must have a deadline. Here are a few guidelines for setting goals.

Goals must be Specific

I want you to be specific, include details, start raw though, when you start raw for example, you want a Mercedes. You do not have to get into the details about what color, what options, that sort of thing, what make and model, just write it down. Make your list huge, what kind of home do you want, what you want for your family, college education, spend more time, travel, anything you can think of. You can come back later and prioritize them and set them up as to what you want in one month, three months, six months, twelve months, then three, five, ten, twenty, thirty year goals. The more goals you have, the happier you will be, the longer you will live, and the more prosperous you will be.

Goals Must be Believable

Remember this, your goals must be believable, by you, or you will not pay the price. They must be believable, they must be just out of your reach, but you must know you can reach them, if you really strive to do that.

Goals Must be Measurable

They also have to be measurable. You cannot set a goal to be financially independent. There is no way you can measure that. You need to set a goal for the amount of income you want per month, per year, the amount of equity that you want in properties – one, three, five, ten and twenty years. It must be measurable. That way you can break it down to what I call “reduce it to the ridiculous”. If you know you want to earn $100,000 a year, you know that is $8,333 per month. If you are going to do four deals per month, you know that is $2,000 per month per deal.

So you must be able to measure it, you must be able to break it down. One of the things I have learned, successful people set their goals quickly and they make adjustments as they go along.

Just like successful people make decisions quickly, they do not vacillate in indecision or what I call sometimes; get mired up in a funk of negativity.

Goals Must be Congruent

The goals also must be congruent with your actions. You cannot set a goal to work harder, longer hours and spend more time with your family. Those are not congruent. They must be congruent with your actions.

Visualize What You Want

Another good thing that will help you in your goals is to visualize what you want. If you see yourself as already having achieved the goal, you will fake out your mind and your mind sees the goal as already having been achieved.

Work Your Goals

The next thing you want to do is work your goals, work on the priority that moves you closer to your goals every day.

Number Your Goals

Number you goals in order of importance. Not only is the goal important but the reason. Sure your want a car, but why do you want the car? Sure your want more money, but why do you want money? You want to be able to spend more time with your family, you want to be able to travel, you want to buy a Hummer, you want to have an ocean front condo. Whatever it is, the reason must be there. The reason is more important than the goal itself.

Review, Monitor and Make Adjustments

Another thing you need to do is review, monitor and make adjustments on your goals. You have to be flexible. Some things are not going to happen, you have to face that; but you need to continuously strive to get better everyday. One of the things that I was told by Jim Rohn, and many of you may have heard of him. He says work harder on yourself than you do on your job. I think that is very important.

The Goals Must Have a Deadline

As I mentioned first, the goals must have a deadline. A goal without a deadline is just a conversation.

When beginning to set your goals, I want you to set your goals in four basic areas:

a. Financial
You will set goals based on income, equity, net worth, cash flow, and those types of goals. All those are financial goals.

b. Fitness

This is your health. If you don’t feel good, chances are you are not working at the maximum capacity that you could. So, I want you to set some fitness goals to try to stay healthy. I mentioned Jim Rohn a minute ago, like he says, “an apple a day”, what if that is right and you are not doing it? Start small though, you don’t try to tackle all of these at once; but you need to be healthy not only for you but for your family as well.

c. Family

Set family goals. What is an example of a family goal? Maybe you want to take four vacations a year. Maybe you want to visit a new state, three times a year or five times a year. Maybe you want to go see the Grandparents two or three times a year; but maybe not.

d. Faith

You need to set some spiritual goals, some faith goals. I am not going to get into a lot of detail about that but that will help you along your way. Remember, if you slip in one area of your goals, you are probably slipping in some other areas. Another thing I want you to think about is the people you associate with. If you think about your ten best friends right now, your ten closest friends. You take their annual income you divide it by ten and that is probably pretty close to what you make. I’m not telling you to get rid of your friends, all I’m saying is whom you associate with, is who you are like, so please keep that in mind. In setting up your goals, as I mentioned before, I want you to reduce everything down to what I call the ridiculous.

In other words, for example, if you want to make $100,000 a year. $100,000 divided by fifty weeks per year, that is $2,000 per week and if you work an average of forty hours per week that is $50.00 per hour. Take $50.00 per hour, times forty hours per week, times fifty weeks in a year and that will give you $100,000. The goal here is then not to do any task during your forty-hour workweek that is going to yield you less than $50.00 per hour. Focus on your high priority, high pay off task. Don’t be doing trivial things yourself if it is something you can pass off to somebody else. That is one of the reasons that I put this system together so that it is working while you are not.

Daily/Weekly Activity Log

Number of Realtors Called? Goal Actual

Number of FSBO’s Called? Goal Actual

Number of Verbal Offers Made? Goal Actual

Number of Written Offers Made? Goal Actual

Number of Offers Accepted? Goal Actual

Number of Counters Offers Received? Goal Actual

Number of Deals Under Contract? Goal Actual

Number of Houses Sold? Goal Actual

Number of Closings This Week? Goal Actual

Number of People Added To Database? Goal Actual

How can I locate new prospects?

LIST:

WHAT COULD I HAVE DONE OVERALL TO GET BETTER RESULTS THIS WEEK?

WHAT OBJECTIONS WERE YOU UNABLE TO OVERCOME?

WHAT WAS THE MOST IMPORTANT LESSON YOU LEARNED THIS WEEK:

Activity Log

HOW MANY HOURS DID YOU SPEND PROSPECTING THIS WEEK?

HOW MUCH TIME DID YOU SPEND WORKING ON YOUR BUSINESS INSTEAD OF IN YOUR BUSINESS?

LIST ALL ADVERTISING METHODS USED, AMOUNT USED AND CALLS GENERATED FROM EACH.

(Ex. 100 postcards mailed, 25 calls received; ran 3 ads, 15 calls received; put out 100 signs, received 50 calls)

1.

2.

3.

4.

5.

WHICH METHODS DID YOUR LEADS COME FROM?

1.

2.

3.

4.

5.

HOW MANY OFFERS DID YOU MAKE THIS WEEK WITH FSBO’S?

HOW MANY OFFERS DID YOU MAKE THIS WEEK WITH REALTORS?

HOW MANY OFFERS WERE ACCEPTED?

HOW MANY COUNTER OFFERS DID YOU RECEIVE?

HOW MANY CLOSINGS FROM BUY’S DID YOU HAVE THIS WEEK?

HOW MANY CLOSINGS FROM SELL’S DID YOU HAVE THIS WEEK?

WHAT ARE YOU DOING TO MARKET YOUR PROPERTIES?

1.

2.

3.

WHAT DO YOU FEEL YOU COULD HAVE DONE OVERALL TO GET BETTER RESULTS THIS WEEK?

WHAT OBJECTIONS WERE YOU ABLE TO OVERCOME?

WHAT WAS THE MOST IMPORTANT LESSON YOU LEARNED THIS WEEK?

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