David Hollingworth

Benjamin Franklin once said:

By failing to prepare, you are preparing to fail.

You’ve possibly heard that quote so many times you’re blue in the face with it; but never the less it’s true. If we want to achieve our goals we must prepare for our success.

Recently I suggested you make a list of your long term goals; anything that you want to achieve in a few months time right out to life long goals like having a nice home to retire to. These goals may seem very remote and consequently you may find it difficult to plan for them; but these are the goals that require the most planning to ensure success.

Let’s take the retirement home as an example. Suppose you want to be in a position to purchase a house to retire to in, say, 20 years time. So you create your SMART goal:

• Specific - purchase a 3 bedroom house with a sea view. You’d want to make this much more specific; but I shall save space.
• Measurable - You’ve bought the house and moved in.
• Attainable - So long as you start early enough this is attainable (alternatively you could rob a bank; but I don’t condone such action to attain your goals).
• Relevant - contributes to my family and environment values.
• Timed - You’ve 20 years.

So where do we go from here? Forget about the goal for 20 years and then say, “OK, missed that one”? No!

The next step is to brainstorm all the things we think might, in some way, help us to get to our goal. To do this set aside some quiet time where you’re not going to be interrupted. If this is a goal to be shared with your partner or work colleagues then include them in the brain storming session.

Here’s a quick brainstorm I did for our example goal;

• Raise the finances
• Find a new house
• Sell the current house
• Move house

The first item, “Raise the finances” needs some further investigation as we’ve identified here another goal, a sub-goal of the goal to buy a house by the sea.

Sub-goals need to be treated in just the same way as the main goals; they need to be SMART;

• Specific - “Raise the finances” isn’t specific. We need to specify what our goal is, I.e. how much we want to spend on the house in 20 years. Raise 2.5 million in savings is specific.
• Measurable - Just look in the savings account or get a statement from our stock broker.
• Attainable - Yes because we’re putting the work in now to achieve our long term goals
• Revelent - Yes because it contributes directly to the parent goal
• Timed - We have a little less than the parent goal to get this done; say 19 years.

Now we have a (slightly) shorter time scale goal to raise 2.5 million in savings in 19 years. So we perform the same process on this goal; brain storm all the things we need to do to accomplish it:

• Get a better paid job - one that earns at least 100K a year
• Invest savings

Two new goals! Both of these need to be done as soon as possible to get the maximum financial gain. Investing the savings we can accomplish within three months. The search for a better paid job might take 6 months. Again these goals get the SMART treatment.

By now you’ll have got the picture. Keep breaking each step down into it’s sub-goals and make each sub-goal SMART. At the end of the process you’ll have mapped out all the stepping stone that are going to take you to your goal, even if it is twenty years in the future.

If you’ve any questions at all on this process please don’t hesitate to leave them in the comments. Next we’ll be looking at making goals work for you on a day to day basis.

Stay tuned!

I’ve already made a number of posts about making goals SMART; but I read recently on businessball.com a reference to SMARTER goals.

The SMART bit was basically the same as I’ve already described, which left me wondering what the ER was. Well the E stands for Ethical and the R for Recorded.

The Ethical bit I’m not convinced by. As I’ve also said in another post; your goals are ultimately defined by your values. Now if you have the values of, say, a bank robber then you’re goal may be to rob a bank. Not very ethical; but the SMART part still works very well for this goal as it does for any other.

Maybe the E should stand for Enthusing. If the goal doesn’t fill you with enthusiasm then you have to ask yourself, “Why am I setting this goal?”.

The R for recorded I’m much more in favour of. This means write your goals down and record the steps you take in achieving them. Not only does this give you a record of what you’ve done but every time you write about your goal you’re reinforcing it in your mind.

So make your SMART goals SMARTER by adding Enthusiasm and Recording them.

(By the way if yu want something digital to record them in then I’d not hesitate to recommend The Journal from David RM Software).

I’m very pleased to say that last Tuesday’s (22nd May) encounter with the bat has not been repeated. So either

• The bat went out the way it came in and hasn’t bothered making a return visit
• It’s still lurking behind one of the book cases.

The latter is possible; but there’s been no aroma of expired bat about the place. Believe me if you’ve ever had a rodent expire in the ceiling you know something has died for several days. I think a dead bat would create a similar fug!

I guess its also possible it’s still alive; but I’m sure it would have made another appearance by now if it was.

So, fingers crossed, it’s, “Bye, bye bat”.

Many goals we set are relatively short term. Things like; wash the car, dig the garden, bath the kids. These everyday tasks may not seem like goals; but they are none the less. Anything we want to achieve is a goal to be attained, these are just short term goals that don’t need a lot of planning because, for the most part, they make up part of our daily or weekly routine.

Then there’s the long term goals, those things that are going to take months or years to complete. This is where we turn our dreams into reality by setting our dreams as goals. How do we manage these long term goals?

How many of you have set a goal for, say, 12 months time only to realize in 11 months that your target is only 1 month away and you’ve nothing done? What feelings does that engender in you?

Long term goals require more organization to ensure they get done, and the longer the time scale the more organization that is required.

Let me give you an example. Suppose you’re going to reach retirement age in 15 years and you’ve a goal to retire to a cottage by the sea. That’s a pretty long term goal; how easy would it be to set that goal, write it down, and then recall at your retirement party that you had some dream of retiring to a cottage by the sea?

Long term goals need organization if they’re to become reality!

In my next post on goal setting we’ll look at how that organization works. In the mean time here’s an exercise for you:

Make a list of your dreams. No, not the sort you have while your asleep, the dreams you have for your life. To this list add anything you already have as a long term goal - that is anything you’ve set a target date of over 6 months to achieve. This will become the basis for achieving your goals!