The Filthy Riches Program was designed with the specific goal of walking you through the steps of earning money on inexpensive properties. But, even when you follow it step by step, you need to be mindful of setting realistic goals.
Setting Realistic Goals for Your Business
[blockquote align=”left” author=”Tony Robbins”]Setting goals is the first step in turning the invisible into the visible.[/blockquote]
Setting realistic goals is just as much a stepping stone to your success as the principals outlined in the Filthy Riches Home Study Course.
First of all, grab a piece of paper and a pen.
After all, if you don’t write down your goals, they are simply ideas or fodder for conversation. By putting your goals in writing, they are tangible and an easy way to help keep you motivated.
Start rough. You don’t need to be overly specific here; the idea is simply to get you to start thinking and writing down where you want to go. The list can be as long as you want:
- Where do you want to live?
- What do you want for your family?
- What sort of vacations do you want to take?
Write them down – as you work on setting realistic goals you can prioritize them later into more specific plans of action.
Don’t be afraid to insert your dreams into your goals; after all, they are what will influence your actions and your desire to succeed. They must be believable, goals that are attainable, but ones that you will have to work hard to reach.
At the same time, though, be careful that you are being realistic with your goal setting. If they are goals you know you can reach, you will work at them. If not, they’ll be soon forgotten, similar to the hundreds of New Year’s resolutions that last a week or two, if even that long!
Success Can Be Measured
When setting realistic goals, your goals must be ones that you can measure. A goal for financial independence isn’t practical because, there is no way to measure that desire. Instead, break your aspirations into measurable goals. Set goals for:
- How much income you want to earn in a month.
- How much equity you want in your properties.
- And so on.
“Reduce it to the ridiculous.” To earn $100,000 a year, that will equal $8,333 per month. By breaking your goals down into smaller, easier chunks, they are easier to achieve.
Adapt to Change
Don’t be afraid to make adjustments when setting realistic goals. If you realize a goal isn’t realistic, update or change the goal to one that is. You don’t want to get caught in the quagmire of negativity and frustration of a wild goose chase. Even the best of us can’t hit every goal. Review, monitor and make adjustments as necessary.
As long as you are adjusting your goals and not giving up on them, they continue to be incentive to push a little harder each time.
Next, your goals need to be congruent. It’s impossible to plan on working harder and longer hours and spend more time with your family. Unless you can clone yourself, one of those goals is going to be eclipsed by the other.
See It To Believe It
Visualize your goals by forming a picture in your mind. See yourself achieving your goals, and do it daily. This can help trick your brain into the feeling that you have already achieved your goal, and continue to be encouragement to keep moving forward.
We all know the phrase: “Fake it ‘til you make it.” It’s a tried and true approach many people have used in carrying out their goals.
When you begin setting realistic goals, structure them in four major areas:
Financial goals are based on income, equity, net worth or cash flow.
Fitness goals are anything health-related. Everybody needs to set fitness goals to keep themselves healthy. Have you ever seen the movie Waking Ned Devine? The comedy is based on a man in Ireland who won the lottery, but died of a heart attack with the ticket in his hand. While morbid, it is a good lesson to keep yourself physically fit so you can truly reap the benefits of the financial goals you have been working toward achieving.
Family goals are any lifestyle goals you may want to work toward. Do you want to visit a certain state or country? Do you want to take more than the one vacation you can now afford? Do you want to be able to take your family on vacations with a new RV, instead of the leaky tent you’ve had to patch every season? These are all family goals.
Faith goals, or spiritual goals, are those that will help support you as you move toward your other goals.
If you are slipping in one of these four areas, you are likely falling short in other areas as well. Be honest with yourself as you work towards your goals, but realize you may start to fall behind.
But don’t fret it if you do. It’s just a chance to make a better plan and an aid in setting realistic goals. Just make the needed adjustments and move on. And each time you make a tweak you get a little bit closer to your goal.
From a financial standpoint, setting goals is critical to increase your bottom line. Surround yourself with successful people. That doesn’t mean you should get rid of your old friends, but it never hurts to expand your social circle. Seek out new friendships from people that are where you want to be financially. Even if they are not aware of the financial goals you have set for yourself, they are going to be very important motivating factors.
Financial freedom is a dream most Americans have. Read through this guide carefully and use the tips I have outlined as a building block on setting realistic goals for yourself. Between your new education on real estate investments and the attainable goals you will be able to set for yourself, you will reach the financial comfort you want in no time!
I want you to set a goal to start buying some houses. To find out more about how you can earn more money on a run down house no one else wants, check out my Filthy Riches Home Study Course.
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Start setting realistic goals for your real estate business.