Start Setting Your Goals For 2023

Why are goals so important?

I know, we talk about goals a lot, but there’s a reason for that. Setting goals is a key element of success. Don’t believe me? Listen to the facts: According to Hive, a lack of clear goals is the most common cause of a project’s failure — 37%, in fact. And a study by Dominican University in California says you are 42% more likely to achieve your goals if you write them down.

You can’t just start doing anything and everything and expect to be successful. Setting goals helps keep you focused and organized, which contributes to greater success. It also keeps your mind focused on something positive and distracts it from the negative that may be happening around you.

Where are you with 2022 goals?

Are there any goals you have achieved this year? Celebrate them! One positive outcome can motivate you to reach your next goal. If there are goals you haven’t reached, ask yourself why. Did you give up because the market got challenging? Was the goal achievable to begin with? Do you have the knowledge and tools required to succeed? Have you made good progress toward it? If not, how can you course correct?

Not meeting goals does not mean you are a failure. Sometimes goals are unachievable to begin with. Maybe it’s the timeline that makes it feel impossible or maybe the goal is too aspirational for where you are in your life or career. Dig in and break down what made you want to set that goal in the first place. Many times, you can break that goal down into different, more achievable parts.

Any progress toward meeting your goals is a success. Celebrate the small wins you see along the way to your big goals. Just because you cannot check them off the list yet does not mean you haven’t made significant achievements.

Set Goals for 2023

Now that it’s Q4, start setting your goals for 2023. Don’t wait until January. Need help setting goals? Make sure they are SMART: Specific, Measurable, Attainable, Relevant and Time-bound.

Make your goals specific by being clear about what you want to accomplish. A measurable goal is one where you are able to track your progress. We’ve already touched on this, but it is so important to make sure your goals are attainable. You can shoot for the moon, but it needs to be possible to get there. Having unattainable goals will only discourage you and possibly burn you out in your mission to achieve them. Relevant goals must be beneficial for you personally or professionally — don’t just set goals for the sake of achieving something, make sure your goals have value. You also have a responsibility as a corporate citizen, so consider if you’re meeting your company’s expectations of you. Finally, think about how your goals are time-bound. Short-term and long-term goals are both great. Give yourself a timeline to work toward to keep you accountable and motivated.

While the market may not change in 2023, there is much you can change. Take some time to reflect and determine what you can and should be working toward and then take action. Take a class to expand your knowledge on a new product offering, listen to a podcast on time management tips, investigate a customer relationship management (CRM) software to enhance productivity, develop a new business channel, expand your social media footprint or enhance your technology skills. Whatever your goals are, don’t leave them on a to-do list and hope that they achieve themselves.

When setting goals, it’s also important to have an accountability partner. Sharing your goals with a coworker, mentor, a family member or even your social media following can help keep you on track. A study published in the Journal of Applied Psychology determined that who you share your goals with matters. Those who share their goals with people they view as “higher status” (maybe a friend or manager) demonstrated more goal commitment and better performance. Sharing your goals makes you more accountable, but sharing with your cat doesn’t. Think about who will actually help motivate you and how you may motivate others to set and achieve their own goals, too.

It’s clear that having thoughtful and achievable goals is a critical part of success — and your success means your borrowers’ success, too. With 2023 coming down the line, take the time to assess where you are with this year’s goals and find aims you can work toward in the new year.