The 7 Steps to Goal Setting in Real Estate

The 7 Steps to Goal Setting

We have all been told that goal setting is one of the keys to leading a successful and fulfilling life. Unfortunately, only approximately 5% of the population actually sits down and constructs their goals. Is it coincidence that only around the same percentage of people are financially free by the time they attain the age of retirement.

I have witnessed the transformation in my life once I began to write down my goals and create a concrete plan for the future. But how does one even begin to assemble their goals? In this article, I will lay out a framework on how to devise goals for your life, and then act with intention and purpose to achieve those goals. A goal with energy will quickly dissipate.

You first need to overcome procrastination. How do you surmount this force that holds back the vast majority of people? Your goals need to be galvanizing and motivational; that is, there has to be a motive behind the goal. Your shoulds in life need to change into musts. Goals that are bigger and clearer will supply the motivation necessary to attain them.

Here are the seven steps:

  • Decide what your goals/objectives are.
  • Write down your goal.
  • Set a deadline.
  • List all activities needed to achieve the goal.
  • Organize your goals into a plan by priority and sequence.
  • Take action immediately.
  • Use every day to do something toward achieving your goal.

1. Decide what your goals are.

This may appear like an obvious start to your plan, but ask the majority of people what they want, and they are more inclined to tell you what they DON’T want. You will never hit a target that you don’t have. Write down what you want from the major areas of your life, including family, financial, fitness, faith and friendship. 

I refer to these goals as the 5 Fs, my framework to achieve balance in all areas of my life. Only you can answer for yourself what it is that will make you truly happy and fulfilled in life.

This may appear like an obvious start to your plan, but ask the majority of people what they want, and they are more inclined to tell you what they DON’T want. You will never hit a target that you don’t have. Write down what you want from the major areas of your life, including family, financial, fitness, faith and friendship. I refer to these goals as the 5 Fs, my framework to achieve balance in all areas of my life. Only you can answer for yourself what it is that will make you truly happy and fulfilled in life.

2. Write down the goal.

When you write down your goals on a piece of paper, the thought becomes a tangible goal, something you see and your subconscious will begin to work on. A goal that is not written is a wish. There is no energy behind a wish, and it will soon vanish. Your action of writing down a goal allows you to choose which goals have more urgency, and reminds you to strive for those written goals.

3. Set a deadline.

A goal with no deadline has no energy behind it. This is what leads to procrastination, and ultimately, lack of action. A goal needs to have a sense of urgency, or else you will be looking at tomorrow to finish the task. Zig Ziglar once told his audience that he was offering an all expense paid vacation, the only caveat being that the trip was scheduled for the next day and they had to complete all of their tasks. He asked how many people could finish their tasks, and everyone in the audience erupted in laughter. He was making the point that with enough urgency and a deadline, people set about accomplishing the tasks at hand. A bit of motivation sprinkled with a deadline is a terrific incentive to completing your goals.

In the next article, I will dive into the last 4 steps to goal setting and what actions you can take right now to begin your journey to a more fulfilling life. Please leave a comment and let me know if you are setting goals for your life!

Gino Barbaro

WHEELBARROW PROFITS, By Jake & Gino 

How to Create Passive Income, Build Wealth and Take Control of Your Financial

Future with Multifamily Real Estate Investing

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