As a real estate investor, this is one of the best times of year to reflect on both what you have accomplished this past year and what you want to achieve in the coming year. It is one of the most exciting times of the year to plan and strategize for the coming year.
If you are not where you want to be in terms of both personal and business goals, you need to create what I call a “New Year Launch Plan”. Much like the launch plan that the NASA Astronauts go through in terms of planning and getting ready for the big day, you should do the same for your investment business. In fact, this is something you should do regularly, but we will get into that more in just a moment.
Here are a few suggestions in creating your own “New Year Launch Plan”
1) Schedule time “away” to focus and plan.
Block time out in the next day or two to focus and plan. Treat this like any other important appointment, such as a doctor’s appointment, and do not be late and do not miss it. In fact, this is something I highly recommend doing at least once a month.
2) List your accomplishments this past year.
Reflecting on your past accomplishments will help give you the “juice” you need to plan for the next year. In fact, if you think hard enough, you will come up with a long list of “wins” from this past year – nothing is too small to note. And be sure to include things outside your real estate investing business, as well. Every accomplishment you list will energize you toward your future goals.
3) Write down your goals for the next 2, 3, and 5 years.
Start with your longer-term goals for the next 24, 36, and 60 month intervals. What do you want to accomplish? What will your cash flow look like? How much net worth will you have at each interval? What types of real estate will you own, and where?
4) Write down your goals for the coming year.
Next, make a list of goals for the coming year that will help you get to those longer-term goals. Remember, success begets more success, so everything builds upon itself. Choose your “Top 3” from your goal list for the coming year. These are what you will focus on.
5) Create an action plan to accomplish your goals.
Start making your action plan to accomplish these targets, and get to work.
6) Continue to take action after the initial excitement has gone away!
You are excited to get started right now, and that is great! But know this – after 90 days or so, your initial excitement WILL wear off. Expect this to happen, and keep moving forward in spite of it. You really want to reach those goals, right? This is where #1 comes in, and scheduling regular time “away” to re-focus on what you have completed, and what you need to finish.