Goal Setting: Tips to help you establish your goals for the year!
It’s that time of year, where everyone is setting their goals for the year. We recently joined the masses, and finalized our goals. A year ago, these goals seemed daunting; however, after the momentum we were able to generate last year, my partner and I are very excited to start achieving them!
When outlining our goals this year, we utilized the SMART method. The SMART method for goal setting involves setting goals that are Specific, Measurable, Achievable, Realistic and Time Specific. One of our goals included fully flipping eight houses this year. This statement defines the Specific aspect. We define fully flipping as acquisition, renovation, and closing. Therefore, that goal is “Measurable”. We know this goal to be “Achievable” and “Realistic” as last year we were able to flip three houses, over six months. We also have examined the elements to flipping (I have previously spoken about the triangle of flipping: properties, financing and team) and we believe we have the necessary elements to fulfill this goal. Lastly, for the “Time Specific” element, we have broken down, per quarter, the number of houses we need to have under contract, the offers that are needed, and the properties we must see to achieve our goal.
What did we do next? We had a meeting with our relator! That’s right, you need to share these goals, and project your needs out into the universe! When meeting with our realtor, we shared our strategy (even the breakdown)! Sharing specific information not only shows your investment to your goals, but it also communicates your expectations for the year. All of the integral players (your realtor is one!) that assist in making your goals achievable need to be aware as most likely they will also need to adjust how they work with you. One example that came out of our meeting is the utilization of a modified offer sheet due to the volume of offers we would like to make on properties.
If you have yet to get started on your goals, don’t wait another minute. Remember, the hardest part is getting started! Please make sure to project your goals into the universe by sharing your goals in the comments’ section. Best wishes to all for a very productive year!!!