Welcome to 2023! It’s going to be an exciting and challenging year in real estate investing, and focused planning up front will ensure your survival and success.
Do you take time at the beginning of each year to set goals, either personal or professional or both?
If you don’t have written goals, it’s easy to get off track. Suddenly you may find yourself fumbling around without direction.
When you set goals and write them down, and then continue to look at them and work on them throughout the year, the results are usually beyond expectations!
As Matthew Kelly phrases it in his book The Long View, “Most people overestimate what they can do in a day, and underestimate what they can do in a month. We overestimate what we can do in a year and underestimate what we can accomplish in a decade.”
This speaks to the need for a vision. A vision is a bigger, overarching view of what you want your life to look like.
Your vision should include spiritual, mental, physical, and business or career aspects. Your vision is much broader and farther-reaching than your annual goals or even five-year goals.
If you already have a vision for your life, take a fresh look at it each year. Sometimes the vision needs to change because circumstances have changed. We don’t always want the same things as time goes on. Tune it up!
If you don’t have a vision yet, get one. Believe that you can do or have anything good that you want in this world. Write that vision down!
Once your vision is in place, you can figure out the tactical goals that will get you there. Then figure out the steps necessary for the year and then for the next quarter. Set specific, measurable, attainable, realistic, and timely goals.
Do you really need a vision and annual and quarterly goals if you’re just a one-person business? Absolutely. Just as much as a large corporation!
Maybe your business goal is just to BRRRR out two houses this year. Maybe it’s just to get your first hard money loan and complete your first fix and flip. You’ll still need a timeline of goals to get you there by the end of the year. And you’ll need your big, beautiful vision to keep you motivated when you hit the inevitable snag in the plans.
Finally, make sure all your goals line up with your vision and are symbiotic with each other. For example, if your vision is to have a balanced life, you won’t want to set any goals that could throw off the balance, affecting your health or your spiritual life negatively.
Again, write it all down. Through the process of writing down your vision and goals, you are clarifying everything for yourself and making it concrete and reachable.
It doesn’t take long to get it all down on paper if you’ve put in the thought ahead of time. So put in that thought. Jot down that big vision and the goals for this year that will help you get there.
Post it in front of you and check it often to keep yourself on track.
We can’t wait to hear the stories of your successes!