4 STEPS FOR IMPLEMENTING YOUR BIG 2023 GOALS

If you followed my post last week on ‘Intelligent Reflection’ then you will have neatly put a metaphorical ‘bow’ on 2022. In other words, the point of last week’s post was to highlight the fact that there is so much value in what you have done, experienced and accomplished in the last 12 months that you need to go harvest that gold through intelligent reflection. 

If you missed that post and want to go back you can find it here: 

WARNING: This post requires some heavy mental lifting but if you’re serious about your growth this year then read it to the end, and more importantly, take action on it. 

So, with the reflection bit done, the natural next step is to follow up with some deep thinking around setting the right kind of goals for YOU, and creating an implementation plan for them. That’s what I’m going to outline here.

So, what do I mean by the ‘right kind of goals for YOU?” Well, before jumping in to write out your goals, please be clear in your mind that they are psychologically optimised goals that are congruent ie your conscious and unconscious mind are aligned in relation to the goals you set. Getting this right at the beginning is essential!

By way of quick explanation, if you were to set the goal of doubling the revenue of your business, on the face of it that sounds great but what would the reality of that mean, and what would be the secondary and tertiary consequences of pursuing it? Eg. would it mean working twice as many hours, sacrificing weekends with your family, less sleep, more stress? Or can you genuinely see how to accomplish the outcome on your terms. 

All I’m saying is just be careful to choose goals that are aligned with what you really want. This quote from Stephen Covey captures my point perfectly:

“If the ladder is not leaning against the right wall, every step gets us to the wrong place faster.”

In the goal setting process it’s easy to get excited in the now by writing down a big goal but the science of achievement requires us to connect the dots between a Big Hairy Audacious Goal (BHAG) and what exactly we need to be working on quarter to quarter, month on month and how we’re using our time each day.

The big rationale behind artful implementation is to take the time to do strategic planning now so that at no time during the quarter are you at the desk on a Monday morning wondering what to do to get started (or at least it will be significantly minimised).

An implementation plan prevents that brain fog, but sadly investing the time to create such a plan is the most common part of goal setting that people skip. But not YOU, and not this year! It’s often looked at as too much like hard work-  and you know what, it is hard mental work! Most good things do require some uphill struggle, but it’s also where we can get most clarity. I heard a brilliant quote a while back from one of the greats that ties into this point, it goes;

“People have uphill hopes, but downhill habits”

– John C Maxwell

In other words, we all want the things that require ‘uphill’ efforts, but are we willing to put in the work that builds the ‘uphill habits’ that will get us there?

You need to take your big 2023 goals and translate them into a project plan. This part of the process is uncomfortable, which is why people skip it but having a well thought through plan will keep you aligned, in the zone and knowing what you have to do next. BHAGs don’t manifest on their own, it takes real intentional work to dream them up, plan the road map, and then of course execute on that plan.

Here’s a quick summary of the process for artful goal implementation that I’ve been taught and continue to use each year. (Chris and I do invest multiple hours in goal planning in the opening days of Jan)

IT’S TIME TO BUILD THE FOUNDATION OF YOUR YEAR!

[ Jumping in here with an important question – How good are you at implementing your property goals? Take the quick test and find out the answer now – CLICK HERE ]

STEP #1: List your key projects

Taking everything into account, list 5-20 projects that would have an immediate impact on your property business. With this list you are thinking up all the growth driving activities that move you closer to achieving the BHAG (ie various strategies and tactics you want to try that would/could result in a net positive to your property business).

STEP #2: Now eliminate all but 3, and ask yourself:

– are you able to complete each of those shortlisted 3 in a 12 week period if you focused on one at a time (ie allocate each project a full 12 week sprint)?

– can you complete these with your current resources ie time, people, money?

– prioritise those projects that can feasibly meet the above

STEP #3: BUILD THE OUTLINE PLAN

Now for each project, build the outline for your implementation plan by completing a handful of answers to these 4 foundational productivity questions:

For project 1

#1 What specifically needs to happen…to get started? To continue? To finish? Can you specify now what your completion point will look like (really push yourself to do that)?

#2 How can you measure progress along the way? (ie no. of viewings/offers per week. Booking revenue, occupancy by month..) When answering these questions think about what can be ritualised/repeated by you and/or your team. Think about the input activity required to achieve the desired property outcome.

#3 What deadlines need to happen within 12 weeks? Think it through and allocate deadlines you can put into your diary (and physically PUT those deadlines into your diary). These will serve as milestones and checkpoints towards your completion point and get your mind clear on hitting them by certain dates.

#4 How can you stack multiple layers of accountability onto this project. In other words, who all can you inform, involve, make a pledge to etc that will help you follow through on your promise. Think mentors, family, advisors, peers. It’s a fact that getting things done is a social phenomenon so enlist the power of public declaration. 

Do the same for Projects 2 and 3. It’s a good idea to have no more than 3 projects in a quarter, and if one is particularly all consuming then stick with just that one project for the entire 90 days.

STEP #4: 12 WEEK PROJECT PLAN

The final stage to this is creating your 12 week project plan where you literally create a grid with 84 days and then populate it with dates, specifics and deadlines (as per your answers to the Q’s above) to work to each day and week. Schedule this stuff in using the mechanisms that work for you, phone, outlook calendar, a wall chart or whatever. Allocate sufficient time and protect it in your diary.

And there you have it. With clarity on what your goals are and your planning complete, now its all about taking action consistently each week, measuring the progress and feeling good about showing up to put the effort in. [HINT – one of the keys to sustained productivity is feeling good about what you do. So please don’t look at what didn’t get done or how far your dream lies in the distance, instead show up, put the effort in each week and celebrate that step of effort input and the progress it creates]. 

I’d love to know if you complete this exercise, let me know if you do and you will massively increase the likelihood of following through. 

To your growth and progress in 2023!

PS. IMPORTANT QUESTION FOR YOU – How good are you really at getting sh#t done and hitting your property goals? Take the test and find out the answer today – CLICK HERE

THIS 6 PART REFLECTION PROCESS WILL SUPERCHARGE YOUR ANNUAL GOAL SETTING

I hope you’ve enjoyed some quality family Christmas time, making memories with loved ones and replenishing yourself to sprint out of the gates for Q1 2023.

I love the magic that Christmas brings, but also the quiet space from the busy-ness of a typical week. Those final few days of the year and the first week of the new year offer us the time to pause for reflection and design, with intention. I hope you can look back on your 2022 and acknowledge all of the incremental progress that has been made on your journey in property investing. It is so important to think about the past year intelligently because past performance is the best predictor of the future.

Reflection is one of the most important things an action oriented entrepreneur can do – why is it so important to reflect and acknowledge progress? We tend to unconsciously discount the progress we have made and be painfully conscious of the shortcomings in the immediate future. 

If that sounds like you, then this quote may be helpful, “Things are never as bad or as good as they seem”. It’s been attributed to a few different people so not sure who originally said it. 

So, this instructional post is building on a mini tradition for me to share at this time of year – and it contains absolute gold for you, if you choose to invest the time to work through the following 6 sections and answer the questions for yourself and your own last 12 months in property. 

This intelligent reflection forms the most important part of the year end review – a powerful way to reconcile the last 12 months and transition into planning the next 12. In my humble opinion it’s essential to punctuate this time of year with such a process. I completed mine before Christmas and it forms the first part of the overall review and goal setting process that I invest significant time in each year. I will follow up this with my summary on the actual goal setting process next week.

Happy New Year and wishing you health, wealth and good times in 2023!

Below are the 6 phases of the intelligent reflection process with all the questions for you to answer. 

PART 1 – GRATITUDE REFLECTION

*What new capabilities did I master?

*What behaviours really caused me to win?

*What are my personal current strengths?

*What are the business’ current strengths?

*What were your biggest accomplishments this last year?

*What marketing or business development won this year?

*What was the best thing your property business created for you?

*What was the most extraordinary value or customer experience that you created? (who did we really move the dial for?)

PART 2 – CONSTRUCTIVE REFLECTION

*What were the most important lessons learned?

*What were your weak points, what do you need to improve?

*Are there any threats to your business or market?

*Any missed opportunities?

*What are the current weaknesses of your business?

*Were there any ways to improve customer service in the last year?

PART 3 – GETTING REAL

*Specific metrics for your business this last year (what was it you were focussing on? What were you trying to grow? What were the conversion rates you were trying to improve?)

*Products/services I sold in 2022?

*2022 gross revenue?

*2022 Expenses?

*Split expenses into 3 categories- what percentages were:

Marketing _

Operations _

Income/Salaries/dividends _

*2022 net profit or net take home

*Property Equity Added

PART 4 – MEASUREMENT (need to compare year on year, power of measurement)

On a scale of 1-10, how would you rate your:

[assess all those that are relevant to your property business. NB, even if you don’t think you are marketing there is a good chance you are ie your version of lead generation may be networking to identify potential JV partners]

*Lead Gen/Deal flow –

*Lead conversion/offers accepted –

*Customer fulfilment (following through on the promise)-*Human resources (are they the best people in their roles)-

*Financial Systems (how clear on numbers month on month, and the management of costs)-

*Satisfaction of the people in the business –

*Satisfaction with your work life balance –

PART 5 – LETTER TO YOURSELF

Write a  letter to yourself (having reflected on each section). Write it as if you’ve gone back in time and are writing the letter on 1st Jan 2022 explaining the bumps, scrapes, wisdom to come. So to give you some guidance notes, you could be writing to yourself about what you will face (in the year that was), where you will despair, where you will draw strength, what beliefs will be tested, what capabilities will be gained, don’t forget all the good stuff to come. 

Why do this? This exercise helps you examine the past with a present perspective. It works on the idea of reconciling expectations from a year ago with where you really are today. Essentially, this puts a proverbial ‘bow’ on the last 12 months and who we have become. 

PART 6 – NAME IT

What single word would put a name to your 2022? (look to be constructive with this). 

See you next week with part 2 on the goal setting process. 😁

[P.S I’d love to hear if you actually do this]

PPS – Want to discover how effective you are at implementing your property goals? Complete this short test to find out and received a customised report with insights on how to execute your property goals like a pro!. CLICK HERE TO FIND OUT