Goal setting is the first step in turning the invisible into the visible.

Goal setting is when you have a dream with a deadline. Setting goals is different from dreaming because it’s action-oriented.

Most adults fantasize about what they want and never take action. Instead, they make wishes at the beginning of the year but fail to follow through on their plans.

Why? Because the majority of people do not set goals to achieve their dreams.  In an article published in Forbes magazine, most businesses fail to achieve set goals for their strategic growth.

For the minority that set goals, studies show that 70 percent fail to achieve the goals they set for themselves.

Why do the majority of individuals who set goals fail to achieve them? Because they don’t understand the rules of goal setting.

Success with goal setting starts with understanding your core values and making your goals specific, actionable, realistic, and timely.

• Understanding your core values
• Specific goals
• Actionable
• Realistic
• Timely

Know Your Core Values

Your core values are the beliefs you cherish that fuel your desire to achieve your dreams. What are your views about money, health, career, and social relationships?

Steven Covey, the bestselling author of The 7 Habits of Highly Effective People, said the best way to know your values and live a productive life is to “begin with the end in mind.” In other words, thinking about your legacy is the key to discovering your values. 

Micheal Masterson, the bestselling author of The Pledge: Your Master Plan for an Abundant Life, said, “Another way to find out your core values is to know the feelings of good and evil buried in your heart.”

A simple, easy exercise to find out your core values is to visualize a movie of your funeral. Imagine you are a ghost moving around the room, listening to your family, friends, and colleagues’ conversations about your life.

How would you like to be remembered as a father, friend, and colleague? 

How would you like to be remembered in your financial status, career, and community?

Imagine that you heard your neighbor say, “he was difficult to deal with as a neighbor”  if the statement made you unhappy… It means you cherish being a friendly person. Therefore one of  your goals will be to be nicer to your neighbors 

To clarify your value for social relationships, write down a positive statement of what you want in your social connections -by writing a message like this:

Social connection: “I believe having a good relationship with my friends and neighbors is important for my success.”

You can also set goals about your finances using the same exercise. By imagining what your loved ones will be  talking about your financial status

Imagine you are still a ghost at your funeral…what comments would you want your friends, colleagues, and family to say about how you managed money.

Would you like to hear something like… Poor Johnny ! He struggled financially all his life. And left his family to battle the various debts he owed.

Instead of hearing everyone talk about how you tried and failed to build wealth…would you rather hear that you left a trust fund to take care of your family?

If you are upset that you were remembered as someone who died poor instead of leaving an inheritance for your family…this means you value financial freedom 

You can use this exercise to clarify your values in the main areas you perform goal setting: health, finances, job and career, personal growth, relationships, and contribution.

Make Your Goals Specific

Remember, a goal is a dream with a deadline. Therefore, you must make your plan straightforward, or else you just have a dream.

Here are a few examples:

I want to be rich is a dream. I want to build a $ 2 million net worth is a goal.

I want to lose weight is a dream. I want to weigh 190lbs is a goal.

As you can see, the difference between a dream and a goal is that a goal is specific instead of a vague dream.

Zig Ziglar said, “when you set a goal, you move from being a wandering generality to a meaningful specific.”

Set Goals That Are Actionable.

You must be able to act on the goals you set to accomplish them. For example, winning the lottery is a dream. However, winning a 2k marathon is a goal. 

The key here is that you can work toward winning a marathon by practicing and eventually entering the 2K marathon instead of dreaming that you can win a lottery.

You Must Have Time-Oriented Objectives

Therefore, when setting goals, you must put a timeline for when you want to achieve them. 

But developing a $2 million net worth in five years is better than acquiring a $2 million net worth in five years. Because having time-oriented goals increases the chances of achieving them.

Imagine the urgency you would give to develop a $2 million net worth in 5 years instead if you just set a goal of creating a $2 million net worth with no timeline attached to your plan.

You Must Set Realistic Goals.

Developing a $2 million net worth in 5 years is probably reasonable. Accumulating a $2 million net wealth in four months is not.

Brian Tracy said, “the majority of adults in America today underestimate what they achieve in one year and overestimate what they can achieve in one month.”

Final Thoughts

In summary, goal setting can be fun and achievable if you identify the things that would give you happiness (core values) and then start taking action about accomplishing them instead of fantasizing about the things you want. 

Once you know what you want, you set specific, actionable, timely, and realistic goals.