June 26, 2021 These 5 Goal Setting Tips Can Help You Crush Your Flipping Side Hustle
Set goals? Do we even need them?
What is all the hype? Do they really help us?
Yep, I used to feel this way too. I didn’t understand the power of goals until I made some. Okay, I may have watched other people make them first. Then I saw them achieving their goals and I decided I should do it too.
We all need goals so that we know what we want, what we need, and where we are going.
I had no idea how much more accountable I would feel when I set goals. Believe it or not, I can be competitive. Yes, me. I want to prove to myself that I can do it.
As much as I may have resisted, setting goals really worked. And we have a few goal setting tips to help you!
A Friend Shared His Strategy
We all have dreams right? Well, a friend once told me that a dream that is written down with a date on it, is a goal. How cool is that? So, all I have to do is to write down my dream and put the date on it? Easy right?
The same friend told me that a plan backed up by action, can make your dreams come true! What? It’s that easy?
It is pretty simple I’ve learned, but there is a little more to it. So let’s dive in to our goal setting tips!
1. Know which type of goal you are setting
There are 3 types of goals
- Process goals
- Performance goals
- Outcome goals
This is where my eyes started to glaze over too, but hang in there, it is simple.
A process goal is just figuring out what you have to do to achieve a bigger goal. So, say you want to make $10,000 with flipping. That is the big goal, so what is a goal you could set to achieve the big goal?
For instance, you could set the goal that you are going to make $1,000 to start.
Performance goals are specific, measurable, achievable, relevant and have a time limit.
Outcome goals are the single goals you are working towards.
So let’s try this, You ultimately want to make $10,000. To be specific we can say you will earn $1000 a month for 10 months to reach your bigger goal of $10,000.
Your goal can include listing daily, and sourcing for 15 minutes twice a day.
2. Decide If You Are Going For A Short Term or Long Term Goals
Short term goals are the goals that help you get to the long term goals. Long term goals are usually bigger and grander. The short term goals help us get there.
Breaking down short term goals into small achievable goals sets us up for success.
Okay, so we broke down the goal of $10,000 into 10 months of $1,000, but how do we get to $1,000 a month?
Immediately you can identify 7 things to list over a week. You can list one of those items per day. Also, each day take 15 minutes while you eat your breakfast or your lunch to source items on local apps.
After dinner, maybe after the kids go to bed, take 15 more minutes to search those local apps again for things to source.
Set some time aside, (30 minutes to an hour) a couple days a week to clean up items and take pictures so you are ready to list.
At the end of that 7 days set your goals to do the same thing again the next week, and maybe add in looking over your listings and making any necessary adjustments or changes.
It helps me to write my goals down each week. I actually love to cross off the items I have completed because It makes me feel like I achieved something.
3. Know Your Why (The Reason You Are Even Doing This)
A huge thing to keep yourself motivated is to identify your why. Your why is your reason you are doing this.
When you identify your why, it helps you keep your eye on the prize and keep moving towards your goals.
My why is my wife Melissa and our kids. They keep me motivated and moving forward. When I am feeling unmotivated, I think about my family and I get moving.
Maybe your why is to pay off debt. Maybe it is to supplement your income or to stay at home with your kids. It might be to retire or to travel.
Whatever it is, remind yourself of your why and keep moving forward.
We all have bad days or feel unmotivated sometimes, and that is okay. To get back on track, remember your why and revisit your goals.
4. Look At What Types of Goals You Are Setting So You Can Make Them Achievable
In the realm of goals, there are life goals, income goals, personal goals, and giving goals. It is good to have several goals at once. Sometimes you will even have goals inside of goals.
For instance, if your goal is to make $10,000 from flipping like we talked about above, you may have the goal of giving $1000, using $500 a month to care for your family and supplement your income, maybe $200 a month to pay off a credit card faster, and $100 a month to pay for your hobby, a gym membership, new books, maybe spoil yourself with a manicure or pedicure.
Obviously you have your own income goals, personal goals, giving goals and life goals. I just gave a few examples of possibilities.
There is no maximum of goals. Just make them achievable.
5. Know Your Stats
This part is going to make me look very scholarly, lol. According to the Harvard Business Study, 83% percent of the population do not have identified goals.
The people that do have goals set for themselves are 10 times more likely to achieve them.
The people that write down their goals are 3 times more likely to achieve them.
So that means if you set goals and write them down that should make you 13 times more likely to achieve them. Awesome, that means I just might achieve all of my goals.
Sounds like we all have nothing to lose right?
Believe me, I was not all into this goal stuff, but it really does work! I am now a true believer.
Add your goal setting tips below!
What are some of your goals? Do you have any other goal setting tips you would add? (Comment below!)