Welcome to another edition of muyiwaOKEOLA weekly. I am going to continue the discussion on setting and achieving goals. This week, I will focus on strategy for setting Goals. In setting your goals the factors discussed below should be put into consideration.
Consider the Big Picture
While setting your goals it is very important to always look at the big picture of your life or the organization. You need to consider how you want your life or the organization to be in the future. That is, you must take into consideration your vision for your life or the organization. For example, if your vision is to have at least N200mm naira in fixed deposit account by the time you retire in 20 years time, it means you must have a goal of saving N10mm annually. However, if you cannot afford to save N10mm annually from your current job or business, part of your goals must then include what you need to do to increase your income. These will include the following:
- Getting professional qualification or going for MBA to increase your chance of getting a better job and speed up your career growth.
- Learning new marketable and saleable skills.
- Starting a part-time business etc.
Also, while setting your goals, always apply the SMART concept. Ensure that your goals are SMART.
S – your goals must be Specific. It means you clearly know and understand what you want. Doing this will increase your focus and allows for better management of resources.
M – your goals must be Measurable. This implies that you need to establish simple standards to measure your performance.
A – your goals must be Achievable / Attainable
R – your goals must be Relevant. Your goals must be consistent with your overall life goal or the organizational goal.
T – your goals must be Time bound
It is very important to ensure that your goals are consistent with your passion. Don’t set contradictory goals. Setting contradictory goals impedes someone’s ability to achieve success. That is why it is very important to always consider your VISION while setting your goals. All your goals should be harmonized towards achievement of your vision.
Set comprehensive goals that cover every aspect of your life. It is very important to develop goals for every areas of your life. Set goals for your Finance, Career / Business, Family, Health and Academic / Professional. Setting comprehensive goals that cover every area of your life will ensure all round success.
Your goals need to be challenging but at the same time they need to be realistic. Goals are suppose to drive you to higher level. Only challenging goals can achieve this purpose. However, you need to consider your current situation to avoid setting unrealistic goals. If you set an unrealistic goal and consequently you fail to achieve it, most often it will have a negative consequence on your emotion. This may affect your ability to achieve other goals. On the other hand, if you set a challenging and realistic goal and achieve it, you will be encouraged and consequently achieve more.
Document your Goals
Write down your goals. Writing your goals down will help you to be more serious and focus. Documenting your goals will ensure efficient planning, tracking as well as monitoring of your goals and performance.
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Read, Act, Overcome and Succeed!
January 3, 2010 No 2010001
Setting and Achieving Goals 1
Welcome to the maiden edition of muyiwaokeola weekly. Over the next couple of weeks, I will be discussing about Setting and Achieving goals. This week, I am going to start with the Importance of Goal Setting.
Successful people and organizations all over the world set goals and work deliberately and systematically to achieve their goals. Someone without goals will be running up and down aimlessly without direction and eventually, he will end up as a mediocre. Setting goals is a vital ingredient of success in life. Consequently, it is very important to make goal setting a habit in our quest for success in all our endeavors in life.
Setting Goals brings out the best in us. Most often the goals that we set cannot be achieve with our existing resources. The desire to achieve the goals will force us to come up with strategies that will lead to achievement of our goals. Let us look at a simple scenario, If Mr A annual income is N800,000 from a single source and he set a goal to buy a car that costs N2,500,000 in the next 12 months. From the analysis above, the goal is obviously not within Mr A’s reach base on his current level of income unless he wins lottery. However, Mr A’s desire to buy the car will push him to think of how to increase either his current income or create other sources of income so that he can achieve his goal of buying the car.
Also, setting goals helps us to move to the next level, achieve more and enjoy better life. Using the example of Mr A above, if he does not have a car currently, setting the goal of buying a car, working towards it and achieving it will ultimately make him a car owner.
Additionally, It helps us to be focus and live a purposeful life. You know where you are going and as such you can channel all your resources and efforts towards your destination. This will help you to be in a better control of your life and make your future more predictable.
Setting goals engenders Planning – When you set goals, your determination and desire to achieve them will force you to plan. Note that planning itself is another essential ingredient of success. For Mr A in our illustration above to achieve his goal he will have to plan the way he spends his time and money. Invariably, goal setting leads to proper planning, more discipline and judicious use of our resources.
Setting goals is the origin of achievements and success in this life. A goalless life is an aimless life which will end up without much result if any at all. The goals you set today determine your reality tomorrow. We all have the choice to set goals, reap the benefits and be more successful. If you have not set your goals for the year 2010, I implore you to do so. It does not cost money to do; all it cost is just a little bit of your time. Please keep a date with me again next week for more discussion on goal setting.
Thank you very much.
Read, Act, Overcome and Succeed!