Did your New Year’s resolution go out the window already? You’re not alone. By about the beginning of February, approximately 80% of people fail at their New Year’s resolutions.
Amazingly, while most people begin the year with a resolution, the majority expect to fail before they even start. That’s not a very positive way to start the year, but we’ve got a better plan.
Whether you are determined to learn something new, improve your health, or increase your business success, the key is NOT to set a resolution but to set a SMART goal.
According to research shared by Forbes, there are two reasons we typically fail at our resolutions:
We weren’t very committed anyway (see: expect to fail)
“Because we felt some pressure to create this goal, we likely haven’t fully thought through all the people that will benefit from our achievement.”
At Bahamas Realty, our team is changing how we look at goal setting, and instead of setting unrealistic, and empty-ended resolutions, we’re setting SMART goals.
To make sure your goals are attainable, they should be based on a reachable target, and motivation based.
What Does SMART Mean?
SMART is a formula that you use to guide your goal setting. SMART is an acronym that stands for the following terms:
Specific (simple, sensible, significant).
Measurable (meaningful, motivating).
Achievable (agreed, attainable).
Relevant (reasonable, realistic and resourced, results-based).
Time bound (time-based, time-limited, time/cost limited, timely, time-sensitive).
Why does it work?
Using SMART goals “sets boundaries and defines the steps you’ll need to take, resources necessary to get there and milestones that indicate progress along the way.” (Indeed.com) With SMART goals, you aren’t just setting a vague, unattainable goal, you’re creating the roadmap to get there.
Resolution: Lose weight!
If you, like many people, set a resolution to get healthier this year, BIN IT. Instead, be specific: Plan to join an outdoor exercise class and give yourself a deadline - that is an attainable plan, with a sense of direction that you can accomplish.
Resolution: Save money!
Think about your WHY. Perhaps you want to save money so that you can buy a new home. Using the SMART formula, you can make it achievable:
"I will save a specific amount of money each week to buy a home with a downpayment of 10% by 2022."
(Tip: Don't forget R - be Realistic about your circumstance, and adjust if necessary).
SMART goals can be applied to all aspects of your life, from your business to your personal life.
To better understand each step, check out this excellent breakdown (with examples!) from Indeed
And then say good riddance to guilt-ridden New Year’s resolutions.