Why You Need A Whiteboard – Net Worth Update: $80.3K (CoffeeForTheBuzz)

Goal setting is second nature to those who have managed to achieve great success in their lives. Goals are the carrot on the string that keep you constantly moving forward, striving for more, never quite satisfied. That’s interesting, you might say, but what’s the best way to stick to the goals you’ve set and see them through? There are many ways to set goals, but often goal setting practices just don’t work for people. For example, maybe you’ve learned how to set a SMART goal at an HR training session (Specific, Measurable, Achievable, Relevant, Time-Sensitive). Or maybe you’ve half-assed your way through a “New Year Planning Session” with your boss at work and come up with 4 or 5 goals for the new year on the spot. What’s important to know is that though you think setting a SMART goal would be a more effective strategy than coming up with something off the top of your head, both methods will get you to the same place if you are not held accountable – nowhere. And the only way to truly stay accountable when it comes to the goals you’ve set is to find a way to hold yourself accountable.

Finding a Strategy That Works

About 5+ years ago, I was coming up with new goals left and right. I want to travel to 100 countries. I want to lock up a 4.0 this semester. I want to land a job at one of the Big 3 Consulting Firms. But I never had a way to hold myself accountable to the things I said I wanted to do and so I was unable to achieve them (the countries one remains to be seen). My so-called goals would far too easily slip to the back of my mind which caused me to lose focus on the things that I needed to be doing constantly to achieve those lofty goals I had set for myself.

One day I was screwing around on the internet and read about a guy who had his own personal whiteboard that he would use for goal setting. He kind of sounded like a lunatic, but I thought “Why not?”. Whatever I was doing then was not working so it couldn’t hurt, and at best it would help me break out of the rut of constantly losing focus on the goals I had set for myself. I hopped on Amazon, ordered a dry erase board, ordered some dry erase pens, and five days later I was writing my goals down on that whiteboard. I immediately began to see results in my life because for once, my goals were always top of mind and a daily priority rather than the after thought they were in the past.

Whiteboard Location = Accountability

Once you decide you’re going to give the white board a shot, the most important step is deciding where you’re going to locate your white board. For the white board to be an effective accountability tool, you need to hang it somewhere that you will see it first thing in the morning, preferably without even having to leave your bed. Those first 5 to 10 minutes of grogginess in the morning are the perfect time to take a look over at your goals and replenish your motivation to work towards what you most want to achieve in life. The closet in my room is directly to the left of my bed when I wake up in the morning, so all I have to do is roll over and right in front of my eyes I’m reminded of my ambitions to visit 100 different countries, make enough income outside of my day job to quit that job, and to build a real estate investment empire. There is no better way to give your day a positive start than reminding yourself of what you want to achieve more than anything.

How to Frame Your Goals to Stay Motivated

I believe in a very specific form of goal setting that I have found to be more effective than any other type of goal I’ve tried in my life. I call it “The Power of Three” goal setting method and the premise is that for each area of your life that you want to achieve extreme success in, you should have three goals set at any given time related to that part of your life.

  1. The first goal should feel very attainable – something that you can achieve within a couple weeks or a month.
  2. The second goal should feel like a stretch, but not impossible – something that might take you three to six months, but will definitely not happen overnight.
  3. The third goal should feel far off in the distance – at least six months out and probably more like a year. Something that feels damn near impossible at this point in your life.

On my whiteboard, I use the Power of Three for 4 to 5 areas of my life at any given time. For example, right now I dedicate a portion of my board to Real Estate Investing, Travel, and a few side businesses I’m working on. Let’s take my overall goal theme of Side Income for example:

  1. Make $100 next month. In reality, this is not that difficult a goal to obtain. That means if I was selling a $5 product, I would only need to sell it to 20 people or a $10 product to 10 people or a $20 product to 5 people. Not that tough, but I haven’t done it before so it’s a new stretch for me.
  2. Make $1,000 in a month. Again, this doesn’t feel impossible. But I don’t feel like I have the processes or systems in place currently to make this happen. I know with some dedication though, this is not out of the realm of possibility. Plenty of people before me have been able to do this.
  3. Make $5,000 in a month. If I were able to consistently pull this kind of money outside of my day job, I would gladly quit and focus full time on my side efforts. At this point in time, this feels extremely far away.

The beauty in this type of goal setting is that once you achieve your #1 goal, you move the other two up the list. All of a sudden, what seemed like a 3 to 6 month horizon is now your most pressing goal and feels much more attainable. Your “impossible” goal becomes a reality, and your new impossible goal is beyond what you could have ever imagined when you were first making huge goals for yourself. This method of goal setting keeps you motivated for the long haul because it allows you to feel a great sense of accomplishment by frequently reaching your goals while keeping you motivated with the knowledge that there is still always something bigger on the horizon.

Key Takeaways

  • Many of you are no less ambitious than those who have become the most successful people in the entire world.
  • What most people struggle with that keeps them from achieving their wildest goals is accountability – and more specifically, self-accountability.
  • Hanging a whiteboard in your room within viewing distance of your bed when you wake up in the morning sounds like a small gesture, but it is one that changes your frame of mind first thing in the morning and sets the tone for the day. Experiencing this day in and day out leads to massive changes in your actions over time.
  • Combining this technique with the “Power of Three” goal setting technique will provide you with motivation like you’ve never felt before to achieve your biggest goals.

Net Worth Update: $80.3K – 1st Real Estate Investment Underway

Last Friday, my business partner and I closed on our first real estate investment. We are house-hacking so we live in the property now and are renting out the remaining bedrooms to friends. The property may have a negative impact on my net worth in the short term as we continue to work on some needed improvements in the home, but once we are all settled in, my net worth will begin to grow faster than it was before we were able to make the investment. The journey is finally beginning.

Posted by CoffeeForTheBuzz