At yearend, you may have that internal debate with yourself: Should I set a new year’s resolution? After all, so many of those resolutions are by the wayside by February.
The advantage of setting resolutions or goals is that they provide you with a roadmap toward what you want to accomplish, says Rosemary Smyth, owner of Rosemary Smyth and Associates in Victoria.
Plotting the right course for yourself is a matter of knowing what the right goals are for you. Should you pursue assets or clients? Should you focus client retention, profitability or staff efficiency?
Here are Smyth’s five tips on finding the goals that suit you:
1. Align your goals with your values
When you think of what you want to accomplish in your practice, consider whether your objectives match your personality and what you hold dear to you.
For example, if your family is your top priority in life — including your ability to provide for your family — you might consider adopting the goal of doubling your revenue. But achieving this objective might mean working an extra 10 to 20 hours a week. You must consider whether spending that much time away from the ones you love fits your values.
2. Determine what you want to do
There are things you think you should do and those that you want to do.
When you pursue goals you want, you’re more likely to succeed because you’re motivated and excited to move forward, Smyth says.
So, when setting goals, ask whether it is a “want” or a “should.”
3. Prioritize
A common problem with new year’s resolutions is that people often set too many. When you want to do 20 things, Smyth says, it’s overwhelming.
Focus on your one major goal. You may reach that goal sooner than you think. Then, you can take on your next big item.
4. Write it down
Goals are not meant to take up brain space. Instead, writing them down makes them that much more tangible.
Visualization is also important. Smyth calls this part a “gut test,” which will help establish whether this goal makes sense for you.
For example, you may decide that attending more networking events will help you expand your client base. The problem may be that you do not realistically see yourself finding the extra time for these events. The result is a goal that will probably not be accomplished.
5. Break it down
If you have given yourself one large yearly goal, find a way to divide it up into monthly and daily tasks so you are working toward achieving it every day.
Perhaps you have decided you want to improve your team’s working environment. Your monthly sub-goal could be to hold regular meetings to share ideas, while your daily task is to thank team members or share positive feedback.
Breaking down goals will also allow you to build momentum. Doing small and easy tasks will motivate you to keep going, Smyth says.
This is the first installment in a four-part series on preparing for the new year.
Next: Pursuing the goals you have set.