Step 4: being mindful in the presence of procrastination.
We’ve all felt the consequences of procrastination in one form or another. It’s important to figure out the reasons for your procrastination. Some people find a particular task or job aimed toward attaining a goal unpleasant, and that becomes the source of their avoidance. I’ve put together a few strategies that can help avoid procrastination.
Analyze your old deadlines and see how long it took you to complete that task. This way your able to gauge how much you actually can do in x amount of time frame. This will help you know when and how to step on the gas for upcoming work. Have clearly prioritized to do lists, schedules, time frames for completing a task, and deadlines for goals to help counter procrastination. Make sure you put this schedule out in the open where you will see it multiple times per day. That is a clear reminder to get to it. Whenever I see my schedule my rule of thumb is to take action even if it’s only 20 minutes I can give. Make sure when you see it you work on it!
Step 5: BE SPECIFIC WITH YOUR GOALS!
Research by Edwin Locke and Gary Latham found that when people followed these two principles (specific and challenging goals), it led to higher performance 90 percent of the time. If your goal is to build a investment portfolio make sure to be specific about it. Never be vague with goals. Example: people will say I want to invest $10,000 this year into a portfolio. This goal has no road map, no guidance, no clear cut vision of how you’re going to invest that money. The correct way to set a goal would be something along the lines of this. By December 30th I want to have $10,000 in the markets; each month I will allocate $833 into different assets. Within 12 months I’ll have $10,000 in the markets….now let’s take it a step further, in January I will focus on putting that $833 into the crypto currency markets, in February I will put another $833 into the precious metal space. Do you see the difference here? Each month you are telling your brain how much money to put aside and also telling it where to put that money. This gives you direction meanwhile the other example leaves you lost.
Step 6: build a supporting team!
High performers and productive people don’t do it alone. They understand that they can achieve more and do it quicker with the help of a mentor, coach, or adviser (or advisory team). If you wanted to become a better investor building a team who has the same goals will allow you to collaborate and find better strategies to execute, or even finding a mentor who has investing experience and can show you the ropes. Setting and meeting larger goals is no different. Having allies and building a network of experts who care about your success and keep you heading toward your goals. Meet with them regularly, seek their wisdom, ask for advice, and listen carefully. Earl nightingale has great content on building a master mind group. He highlighted this perfectly in “think & grow rich.â€
Step 7: start with the end in sight.
When setting goals, you have to know where you’re headed. When writing down your goals, make sure that you understand the path to your final destination. After all, a goal without a clear roadmap is just a pipe dream. Once you have your goal on paper, write out what you’ll need to get there. I call these sub-goals, also write out the resources that you’ll need to support you on your journey.