Using S.M.A.R.T. Goals to Revolutionize My Investing Career
I find myself thinking sometimes, “How did I get here?” I want to make some serious money in Real Estate Investing. And, I don’t think I’m currently on the right path to do so. Yes, we’ll have a nice house when we’re done with this House 17 remodel. And, we’ll have a fair amount of equity in it and our other properties. But, I’m nowhere near where I thought I’d be five years ago when I started.
I’m taking a hard look at myself and my situation. I’m not even being nice about it. I’m deciding to take a stand!
I believe I’m finally in the perfect position and mindset to turn things around. It’s taken me a long time to get to this point. I reached a stage about two or three weeks ago where I felt “broken” by our circumstances. The work seemed overwhelming, as did the bills coming in, our deadlines, and the issues all of the above caused in my personal relationships. I knew eventually I’d be fine, though, as evidenced by my absolute refusal to give up. Logically, if I just persist and keep trying different, smarter ways to get there, we will indeed one day be wealthy.
By this stage, I not only have the inspiration and motivation to become wealthy (what I have often called “fire in me belly”), I also have the maturity to handle frustration, opposition, and delays. I believe I’ve been tested by my “gut check moment” and have made it through, only to be a stronger, smarter investor. I may not be as friendly or optimistic as I once was, but I think I’m better for it. I feel like I’ve gone through trial by fire.
So, now, if you don’t mind, I’m going to start laying out my plan to get us in a better position to be able to continue building our empire. I’m going to use S.M.A.R.T. goals. Hey, there’s something good I learned from Corporate America “Business-ese” (pronouced “business-eez”)!
For those of you who haven’t had the misfortune of having to do bi-yearly or quarterly goals list with your manager in Cubicle Land, let me introduce you to S.M.A.R.T. goals. S.M.A.R.T. stands for the following:
S - Specific, as in defining Who, What, When, Where, Why, and Which,
M - Measurable, as in defining How your goals will be measured, completed, and verified,
A - Attainable, as in limiting your goals to results that are attainable by you,
R - Realistic, is self-explanatory. Obviously, $1 Mil cash by tomorrow is not realistic. Here it is, 6pm already.
T - Timely, as in defining a set time limit for you to make your goals happen.
I am hoping that Michael will go along with this. Many of you already know from personal experience how tough it is to keep fighting the good fight in your careers while also having to fight for what you want in life with your loved ones at home. :-/ Honestly–and, I may be persecuted for getting this personal and revealing–Michael was ready to walk away from all of our obligations to live under a bridge months ago. He doesn’t like financial stress at all. He spends to make himself happy. And, he’s very resistant to having a big “honey-do” list with deadlines attached. So, I feel like I’ve had the weight of the world on my shoulders. These are things I should have kept in mind when considering the House 17 purchase. Oh, who am I kidding–I would’ve done it anyway!
I’ve started putting my S.M.A.R.T. goals to paper already. I will get the rest worked out and post it here for all to see. Then, not only will I have myself to answer to–I’ll have you as a backup!
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Trisha,
I’ve been reading your blog for a long time now, even went back and read from the start. I have no doubt at all that you are a S.M.A.R.T. woman, and will achieve everything you set out to do. I will continue to follow your adventures, and cheering you on! Take care!
I just came across your blog, and was so happy to see another woman entrepreneur/investor out here in the blogosphere! Great blog as well!
Conradf - Thank you so much for the good wishes and for cheering me on! I have a feeling that my career will benefit from goal setting this way. I have found that I may not be seeing the forrest for the trees! You can hold me to these goals once I get them written. I am determined to take steps to get back on track.
Terra - Oh, cool! Well, welcome anytime! Your blog is really beautiful and well designed. I look forward to reading through it later on today!
I love your attitude, Trisha.
Looking forward to reading your SMART goals.
I have found that posting my goals on my blog really helps to keep me accountable. It’s one thing to write them on paper, but quite another to announce them to the world….
Steph - Thank you! Yes, absolutely. There’s always the fear of humiliation!
Ha, its funny that I originally heard of the SMART goal setting system a long time ago at a network marketing training and have since incorporated it into my own mlm training manual, which by the way can be found at http://www.mlm-training-manual.com. Very well done on your application of it to investing, but that is not the reason for the post. Seems like you are really on top of things and I was curious if you had heard of Life Settlement Investing? I have to admit that I am very vested in it and also marketing it, it’s pretty much consumed my life lately, mostly because I’ve not found a better investment if done right. Your thoughts?…
Hi, Shawn! I’m not familiar with Life Settlement Investing. But, you’ve given me something to research! Thanks for reading!
[...] That’s not to say the methods don’t work. Some talk about making lists, others use SMART, some employ “pin the tail on the donkey” method . . [...]