New year, new goals!
As 2024 takes shape, many professionals, including those in the mortgage industry, are hard at work determining just what the year should entail.
And the key to success? Thoughtful, well-defined goals!
So, with the momentum of a brand-new year at hand, consider taking some time to strategically craft and finalize your annual goals. To assist, we’ve gathered our top five tips to make achieving your business benchmarks a breeze. Let’s dive in:
This process isn’t about setting any old goals. It’s about setting the right goals.
SMART is a common acronym you can use to set clear, reasonable, and attainable goals. Think of them as your initial blueprint for success.
In this case, SMART goals are those that are:
For example, while a 500% increase in revenue would be great, that just isn’t achievable for most mortgage professionals. A 10% increase might be more reasonable. Or, maybe you just want to network more. This example lacks specificity and time constraints. How many new contacts would you like to secure? By which month?
Instead, perhaps consider goals like reaching out to ten new leads per month or attending a different professional event each quarter. Both of these goals are specific, measurable, achievable, relevant, and time-bound. In other words, SMART-approved!
While you’re at it, consider the new habits and practices you’ll need to develop to achieve your goals.
Unfortunately, success probably won’t just fall into your lap. Instead, you’ll need to become the kind of professional that, with hard work and dedication, is capable of achieving whatever it is you’re after.
For example, if you’d like to increase revenue, you may need to find a mentor, attend regular webinars, or read industry materials on business financials. Or, if you want to improve efficiencies, you’ll want to audit current practices, identify areas for improvement, and explore new technologies.
Whatever you choose, outlining how exactly you plan to achieve your goals significantly increases the likelihood that you will.
It’s no secret that time flies, particularly in the fast-paced world of home loans.
Without a clear record of your goals, there’s a good chance they’ll go unmet. You’ll need to get them down on paper (literally or otherwise) so you can refer back quickly and easily.
Here are just a few ideas for places to jot down your goals:
Just make sure you can look them up as needed. They’ll need to stay top-of-mind all year round.
In the same vein, you might need to carve out dedicated time to work on meeting your goals. After all, short-term emergencies and unexpected deadlines have a way of beating out our long-term endeavors.
Sacrificing those long-term gains for the short-term pains can have a profoundly negative impact on your business and personal development, though. Don’t let the year slip away!
Set up regular check-ins for yourself, whether that’s each week or every six months. These checkpoints will allow you to gauge your progress and plan for any necessary improvements moving forward. Then, you’ll be sure to stay on schedule no matter what the day-to-day throws your way.
In the same vein, keep detailed records of progress, whether it’s encouraging or not.
Consider keeping track of things like:
Whether you choose quick bullet points or a full-on progress meter, you’ll definitely want to track just how far you’ve come. This way, you’ll feel a sense of pride, plus some motivation to keep on going.
And if you don't end up meeting all of your goals? You’ll have a backlog of relevant data and useful information. You can then review your efforts, determine what went wrong, and use these insights to plan better next year. That’s still a win in our book!
So, do your professional goals seem well within reach or frustratingly abstract? Either way, a brand-new year can usher in change, progress, and success.
Keep just a few top tips in mind to make annual goal-setting more streamlined, efficient, and, dare we say it, even a little bit enjoyable.
Future you is sure to be grateful!
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