Goals
Want to know why 3% of Harvard MBAs make 10X the other 97% combined? The answer is simple, the 3% set clear, written goals for their future and made plans to accomplish them. Harvard conducted a study on this topic and without boring you with 50 pages of research here are the major punches in the gut from the smartest students in America.
The interviewer asked new graduates from the Harvard’s MBA Program and found that :
- 84% had no specific goals at all
- 13% had goals but they were not committed to paper
- 3% had clear, written goals and plans to accomplish them
The interviewer followed up a decade later and asked the same graduates from the Harvard’s MBA Program how they were doing here were the results:
- The 13% of the class who had goals were earning, on average, twice as much as the 84 percent who had no goals at all.
Now even after reading this there will be some of you who are too cocky to spend a few hours on your future, however there will be a small percentage of you who actually sit down to game plan your year ahead. I spend the entire first week of reviewing my prior years plan, seeing where I exceed my goals, looking into why other goals failed and planning how I can improve for the year ahead.
Now for most you might only have one source of income, maybe you have a side business and trading as a potential source. Ideally start with your number one bread winner and work your way down the list. If you make $100,000 doing X and $10,000 doing Z a year, list them in order of importance. As the years go by it is interesting to see how your primary breadwinners change. My top bread winner in 2017 is not even on my 2019 as I completely replaced that business with another.
So let's get started on your 2019 business plan!
From Ben G
Personal Recap of Prior Year
Let's start off with some goals you have for yourself personally.
What were some improvement you made health wise this year?
Did you exercise regularly?
What other improvements did you make to better yourself this past year?
How many books did you read this year?
What were some major lessons learned from those books?
Personal Goals for Current Year
What are your goals for 2019?
Health Wise
1-
2-
3-
Education Wise
1-
2-
3-
Other Personal Goals
1-
2-
3-
Recap of Prior Year Business 1 (Breadwinner)
Sales generated for the year -
Sales goal for the current year -
What did you use this income for?
How did you invest your earnings?
How much did you save?
What is your saving goal this year?
Recap of what you did well this year/ things you improved on
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-
-
-
Set broad goal for what you aim to achieve this year
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-
-
-
How will you get toward your goals (break them down into monthly goals need to reach, and weekly goals to reach the bigger goals)
SWOT on yourself
Strength-
Weakness-
Opportunity-
Threat-
SWOT by a peer on yourself
Strength-
Weakness-
Opportunity-
Threat-
Estimated income for this plan?
What reward will you treat yourself with if you exceed this goal
Recap of Prior Year Business 2 (Next Income Source)
Sales generated for the year -
Sales goal for the current year -
What did you use this income for?
How did you invest your earnings?
How much did you save?
What is your saving goal this year?
Recap of what you did well this year/ things you improved on
-
-
-
-
Set broad goal for what you aim to achieve this year
-
-
-
-
How will you get toward your goals (break them down into monthly goals need to reach, and weekly goals to reach the bigger goals)
SWOT on yourself
Strength-
Weakness-
Opportunity-
Threat-
SWOT by a peer on yourself
Strength-
Weakness-
Opportunity-
Threat-
Estimated income for this plan?
What reward will you treat yourself with if you exceed this goal
If you have a 3rd or 4th source of income,continue to repeat this process.