As we near the end of 2012 I look back over the last 11.5 months to see if I have reached all of my goals. I have reached many goals that I have set for myself but also have missed my mark on a few also. Where are you with your goals? Many people wil give up on the rest of this year and say to themselves “ I will just set new goals in January “. This is the wrong way to think. You need to look to set your 2013 goals now so you can get a head start and hit the ground running. To give you an example, when 2012 ends I will still have about 15 homes waiting to close with buyer meaning I will be that far ahead into reaching my goals for 2013 as far as yearly sales in concerned.
People typically treat their goals like they do when they set their goal to join the gym in January. They start out strong and determined. Then after a few weeks with no results due to lack of activity their goals fade away and next thing you know its December 2013. Does this sound familiar? Fear is another reason people dont set goals. Fear of failing can paralyze people into not doing anything at all. Here are a few tips for setting goals for 2013 ( these goals relate to someone wanting to get started in real estate investing )
- Short term – ( typically first 30 – 90 days ) learn basics, attend meetings, seek out a mentor / coaching, do your first deal asap!!
- Medium term – ( typically 6 – 12 months ) purchase property for yourself, everything from short term goals, do more deals.
- Long term – ( typically 12 – 18 months ) do “X” amount of deals per month
You have to write down your goals and put them in a place where you can look at them daily, otherwise you have not set any goals. Your goals also need to be something that burns inside you. If not you wont put in the work to reach the goal. They also need to be realistic and achievable. Dont set a goal to flip 5 homes and make $100k your first 6 months, this is very unrealistic. Maybe set a goal to find a deal for a local wholesaler and make $500 – $1,000 for your findings.
It is also important to create a reward system for yourself. Once you achieve “X” you can have “X”. Rewards need to be appropriate with your goal. Dont go buy a 60″ TV just because you found a home for sale and got the phone number for the owner.
2013 is right around the corner. Set your goals today and not tomorrow.