How to Achieve True Success (Hint: Ditch S.M.A.R.T. Goals)

It’s that wonderful time of year! No, I am not talking about organizing your taxes. I am talking about the ability to set new goals.

For as long as I can remember, I have used the new year to finalize my goals. I would ensure they were “SMART” (Specific, Measurable, Attainable, Realistic, and Time Specific). I would also be sure to align them with my overall business vision and values.

Every year, I would achieve most of the goals I set. So, I must be successful, right?

Without getting too philosophical about the definition of success, let’s just skip ahead to the finale to inform you the answer is no.

(Queue the dreamy, flashback movie music.)

Realizing My Goals Were Flawed

About six months ago, I attended Brandon Turner and Tarl Yarber’s mastermind in Maui. Not only did I establish lifelong friendships there, but I also learned game-changing business ideas and strategies to propel my businesses and personal life.

One strategy that I learned at this mastermind, I now use as a roadmap for establishing my goals.

During one of our sessions, we were asked to describe, in detail, our perfect day. While I have had days that I thought were perfect, I had never been asked to write down what a perfect day actually is for me. By writing it down, it forced me to structure the time I spent doing specific activities during the day. Through this exercise, I realized that I have not been moving towards my perfect day, but away from it. Let me explain.

I have always been a very competitive person. But unlike most people, I am not competitive with others—just myself. In sports, I wouldn’t compete against other people’s records in running or statistics but instead my own times and goals.

In school, I didn’t care what grades my classmates received. I only cared about what I believed I could achieve. And in my work life, I constantly push myself to build bigger and better businesses.

The problem is, when I look at my perfect day, it is not spent building businesses. Rather, it’s used to spend time with my family and friends and to ride my horse.

Setting New Goals With Ultimate Success in Mind

Obviously I know that being able to achieve my perfect day is due in large part to having a successful business. What is not so obvious is what makes a successful business.

After much thought, I have come to realize my definition of a successful business (as it relates to my goals) should not be measured by the size of the business. Instead, it should be measured by its capacity to self-operate.

This epiphany has had a major impact on me. Unlike previous years, this year my goal planning session did not start by writing out SMART goals. In contrast, I started with writing the definition of my perfect day.

I then set a count goal for perfect days (52 for 2020, which breaks down to once a week). All of my other goals are set to not only help me achieve my goal of 52—but to exceed it. And like all goals, I will be tracking my progress to ensure I hold myself accountable.

The number of perfect days is a reflection of my new definition of what a successful business is to me. In the end, if I am able to achieve this goal, I will be able to finally say I am successful!

What are you goals for the new year? What’s your process of setting and sticking to them?

Let’s talk below!

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.