As some of you will know, I’m a pretty big fan of goal setting. This year though, I’ve been struggling to pull myself together and set my annual goals. I’ve felt like the last few years I’ve put the effort into creating goals, but I’ve really struggled to get the kind of results I was hoping for, so I felt more than a little deflated about the process this year.
Have you ever sat down and tried to write your goals and then given up because you’ve gotten overwhelmed? Or have you written some goals but then not really felt pumped up about them or followed through? This year I’ve done a bit of both. It’s April, and I still don’t have my annual plan set out and that makes me fell so slack! Don’t get me wrong, I am working towards my goals, but I haven’t had a plan. And I like to have a plan.
My favourite podcast of the moment is the Achieve Your Goals podcast by Hal Elrod (you can check it out here: https://halelrod.com/podcast/). A few months back I heard a podcast interview by Hal which talked about a book called The ONE Thing. It spoke of a process for goal setting that really interested me, so naturally I had to order a copy.
The key question that The ONE Thing asks you to focus on is “What is the ONE thing you can do, such that by doing it everything else will become easier or unnecessary?”
This guiding question informs the process of creating your goals using a process called goal setting to the now. The ONE Thing website (www.the1thing.com) provides a whole load of resources to help you with this process, but the first thing you should do is to figure out what your purpose is. This might require quite a lot of thinking about (I’ve been doing this for two years now, and I’ve on version about 100 of what my purpose is). It is something that for many of us will evolve and change over time, but just think about what you think your purpose is for now so that you can get started (use this resource to get started https://www.the1thing.com/resources/my-purpose/). Once you know what your purpose is you can start to work on your goals.
Goal setting to the now is about working backwards, but using the guiding question to focus your thinking on what is the ONE thing you should be doing at each stage to achieve your goals. You work back from your longer term goals (say 10 years), to your medium term goals (maybe 5 years), to your shorter term goals (one year, one month, one week), until you get to the question “What is the ONE thing I need to do today such that by doing that everything else will become easier or unnecessary?”
So, let’s say for example you have a dream of retiring by the time you are 50 with an income of $100K per year (a passive income is an income you receive every day whether you get out of bed or not), you have 10 years to do this in. This can sound kinda scary right?
I find that if you think about your goals in smaller chunks it seems so much easier to achieve, and this is what goal setting to the now enables you to do. So, let’s break down this $100K income goal.
The maths isn’t too tricky, right. So if your goal is $100K in 10 years, it would be great to be earning $50K passive in 5 years. Still sounds a little scary. But does it sound so scary when you think about $10K of income by the end of year 1? And then what would you need to do to achieve that? Maybe sell 1000 copies of your book this year at $10 profit a copy? That’s 83 books a month, or 19 books a week.
Maybe you don’t yet have a book but your big goal is to be an award winning author. Your goal for this year could be just to write one book. A book is say 350 pages? That’s a lot right. But let’s work backwards…it’s only 29 pages a month…7 pages a week…one page a day. Not so scary huh? You might even be able to write one page in your lunch break!
I love how simple this process makes goal setting. You have your bigger goals to drive you forward each day, but these are broken down in such a way that they seem so much more manageable.
I think it is often the magnitude of our own goals that scare us into not achieving them. The big goals seem scary and intimidating, and rather than chipping away at them we don’t even get started. The ONE Thing goal setting process might take you some time to work through, but it gives you the process to make those big goals achievable through small daily action steps.
The ONE Thing is one of the best books I’ve read of late. It is an easy and enjoyable read and helps give you the motivation to get into the goal setting process with gusto! So, if you are looking for some motivation to improve your goal setting process then get your hands on this book!
Happy goal setting ladies!
P.S. The ONE Thing goal setting process will make a whole load more sense if you read the book too, but their free resources are great too, so if you want to start there first go for it!
There is also a ONE Thing podcast, so if you are a podcast fan then I recommend you check that out too!