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(00:43): To shoot you guys a quick video. I was doing some morning reading and I'm reading a book that actually had nothing to do with the strategy of goal setting and so forth. But it was really interesting the way that a, this author put in two words, the idea behind goal setting, writing full month goals out trying to achieve goals and so forth. Some interesting stuffs and interesting takeaways because I'm always trying to help my team align with actually goal setting and achieving goals and building scorecards and, you know, organizing meetings and trying to tick off goals each week and trying to piece by piece, trying to get people to achieve their goals. Right. But it's often does a really, really good job putting a couple of different things into play that I think might be interesting for you guys. So I wanted to review them with you real quick.
(01:30): And I wanted to talk about and get your insight. Maybe get some interaction. If you have any questions, go ahead and ask them and we'll go from there. What's up? Good morning, drew. Good morning, Mark. What's up man? What's up Evelyn. What's up Christie. All right, so let's do this. What's up, Steve. Let's do this. Let's get started. So one of the things that he talks about, number one is this, which I think is awesome. He talks about the 50 50 rule is this. This is what I think is really, really interesting. The 50 50 rule, right? 50 50 rule is this let's say your goal is to make a hundred thousand dollars a year. He says in your one, if your goal is to make a hundred thousand dollars a year and you make $65,000, right? You feel like you had 65% of your achieve 65% of your goal, right?
(02:11): And you feel like a failure. However, if you did 65% of your goal and you learn nothing along the way, then you failed, right? But if you spend 50% of your time learning and 50% of your time achieving, and you made $65,000 in year one, then you probably achieve your goal. Meaning, meaning this, right. We have to be constantly learning, constantly growing, constantly pushing, constantly getting better. And if you're one, when your goal is to make a hundred thousand dollars and you only made 60,000, $65,000, you may not have failed. Now you may not have achieved your goal of making a hundred thousand dollars. However, you may have learned enough in the first year to make 150,000 or 250,000 in year two, because if you're a learning experience in year one. So in other words, the takeaway is that you can come short of your goal, which you can far exceed the end goal.
(03:08): So one of the things that he puts here that I love, and I guess subconsciously it's always been, my goal is to think about the end game. Think about the long game. Think about being forever. I knew when I got into real estate, that this was going to be my life. I knew that this was all I was ever going to do. I knew that this was it, right? So when I started buying real estate, I knew it that no matter what, no matter what the exit strategy was, no matter how I was going to fix and flip, no matter whether I was going to do single families or apartment buildings or office buildings or sky rises. I knew that when I was 80 years old, I was going to be sitting on my couch telling stories about how I built a billion dollar portfolio, right?
(03:48): No matter what it took to do that, no matter what size the property was, it was all real estate, right? So when you're doing whatever you're doing, thinking about the end goal in mind, even if you fall short year one, you still made the knowledge which happen to create leaps and bounds. Year two, leaps and bounds year three. So that 50 50 rule, I love that, right? If you're continuing to educate the idea, DIA folks is that we're always going to fail. In fact, you're going to have to fail. If you're not failing, you're not trying, right? So if you fall 65% of the dollar figure, year one, that's 80% of your effort went into at least 50% of your other effort, better be into getting better. And how are we getting better? We should be getting better in our sales skills. We should be getting better on our communication skills.
(04:37): We should gain better in our system skills. We should be getting better in our recording down what we do, right? I call that proven process, right? Getting better at each little individual tweak as we grow, as we get better and stop trying to put it on a dollar figure because that dollar figure is only going to be the money that helps you survive that salary that helps you pay your mortgage and so forth. That's all well and good. But if you're really or build true wealth, you have to think about the end game. You have to think about multiplying that wealth and how you're going to create more out of it. I did a, a seminar type training thing for a bunch of realtors and investors a couple of weeks ago. And we talked about the idea behind building organic growth within your business, building a referral business, building a network of professionals that you can rely on because you're not going to be able to just rely on buying leads, buying business, having business, just be bought and paid for a role in because it's a constant grind that way, right?
(05:38): You can't just keep buying it and expect it to keep rolling in the door. You can, you can, but you're never going to build a real business. That way business comes from building a network of a spiderweb of people that know you like you and trust you and want to give you business. So if you're doing that 50 50 principle in the first of years, I would encourage you to spend 50% of your time spending 50% of your time learning to understand people, know people, get them to trust. You, get them to communicate with you, get them to understand your business, understand their business and add value and spend the other 50% time trying to earn money. So he goes on to say this these four questions about setting your goals. When you're first setting out your business plan, you're first deciding what you want to do.
(06:22): Right? He says, what gets me excited about my business? Truly excited, not just periphery excited, but what really gets me driven about my business. Now this gets deeper into my why and so forth. You guys can take that as far as you want, but get deep about it, right? Once I've achieved my goal, what's the benefit. So folks, again, we're not just paying our mortgage with this thing. What do we want to do with it? Once I achieved my goal, I'm going to go take my family on a trip. Let's say, achieve my goal. I'm going to celebrate it in way. And once I achieved my goal, I'm going to buy a house for my family, or I'm going to whatever, invest in a new business, or I'm going to grow something bigger than myself, right? They don't want to buy a life insurance plan and start to abuse, infinite banking.
(07:03): Right? And if I don't achieve my goal, I'll be disgusted with myself because I'm not going to get to do X. What is that thing? Right. Getting deeper into if I don't do it right, I'll take this a step further commit to someone that you're accountable for can commit to someone that you have more impact that will have more impact on you than yourself, right? Commit to your wife, commit to your mom, commit to your dad, commit to someone who's close to you. And you're going to achieve your goal because it becomes a bigger need and want to achieve it than if you just tell yourself you're going to achieve it, right. You're actually accountable to that person because you promised them you would achieve it. It becomes way deeper than just telling yourself you're going to achieve something. And then finally, what are the negative consequences?
(07:48): If you don't achieve your goal, right? You shot for that hundred and you only hit 65. What would happen if you only had 25? How negative would you have to continue to stay at your full-time job and work that as a part-time, would there be some kind of crossroads would you have to quit and start over and do something else? Right. If you're not all in, what does that look like? For those of you just joining and getting a little late, make sure you watched the replay from the beginning, we're talking about how to positively set goals for ourselves, right? And then finally, when we set these goals and this is the most important thing, and he starts to, he talks about this, but you know, I talk about this all the time. You got to set smart goals, right? Smart goals are those that are specific, measurable, achievable, realistic, and timely.
(08:32): So folks, in other words, when you set a goal, they have to be specific. The goal has to be, I'm going to commit X amount of time to do X amount of things and achieve X thing by the end of the year. Right? Timely means it's by the end of the year, right? It's got, it's going to happen by the end of the year. Realistic is, are, can you realistically accomplish that thing by the end of the year, right? Achievable, do you have the capacity to achieve it? Right? If you set a goal of putting yourself on the moon, by the end of the year, is that realistic? Do you have the ability to achieve it? Is it timely? Can you do that by the end of the year? Right? But if you set yourself a goal to hit X contracts or X real estate transactions, or X meetings with new clients, if you're in a different industry, right.
(09:16): Or if you're a doctor or an attorney who's trying to meet with clients, right. Set X appointments or X marketing dollars aside that we're going to generate X appointments to get new clients in the door. Right. What does that look like? Is it specific? Is it realistic? Is it achievable? And is it timely within a certain amount of time? We're going to do that. Right? So make sure there's smart goals that you're achieving. But that 50 50 rule I think is one of the biggest takeaways. The first time I've heard it explained this way, it's the first time I've actually read it that way. And it gives yourself some breathing room, right? If you're not specifically on track monetarily to hit your goals, are you still achieving the knowledge? Because at the end of the day, guys, we're all playing the long game. If we're not playing the long game, we should be right.
(10:02): If you don't hit your goals in year one, are you ready to double your goals in year two? Are you building yourself a platform that's going to allow you to springboard in year two to take it to a whole nother place in year two, because what you've learned in year one, if you're in sales and you're not achieving the goal, but you're learning how to be a better salesperson, you're learning how to ask better questions. You're learning how to create solutions for people. When you're out on appointments, you're learning how to actually help people achieve what they need to do. Year two is going to be so much easier for you because you're going to understand the process. You're going to understand compassion. You're going to understand I'm working with people and helping them achieve what they need. So year two is not going to be about the jitters of going on the appointment and how you're going to prepare and what you're going to say and what you're going to do because you spent all of year one getting that out of your system. Does that make sense? So folks, the 50 50 rule set your goals, make them smart and ask yourself better questions.
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