https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode #67 of the Property Planner, Buyer and Professor Podcast, the team share some of their insights, experiences and best tips for our listeners when it comes to setting goals. In line with the first week of 2021, this podcast is well-timed according to our trio, as they each see a heightened degree of property investor goal-setting and planning activity at this time of year. But not all goals turn into successful outcomes and in this episode the trio explore why, and more importantly, the fundamental goal setting behaviour that can make all the difference between dreams and outcomes. Goal setting fundamentals 1. Why is goal setting important? Cate asks the Property Planner, (Dave) to share his approach that he uses to enable his clients to achieve their property plan goals, from property goals, investing goals, lifestyle goals, to the 'flexibility stage of life goals.' Pete sheds light on why people set goals, (particularly in January), and why so many people's goals don't come to fruition. 2. You can only manage what you can measure Dave uncovers the professional approach he guides his clients on when creating goals, setting measurable targets and avoiding procrastination. He shares an interesting psychological study where a study focused on a group of students who were split into two groups; those who visualised the outcome of the goals, and those who visualised the process required to achieve the goals. Visualising the required steps is an integral part of successful goal setting. 3. Creating an action plan and holding yourself accountable Setting goals is the vehicle that will drive you to your destination. Dave talks about the adoption of a timeframe map; when, where and how you'll apply the behaviour. 4. Five core reasons why people set goals Pete shares these five core reasons that he has incorporated into his university property investment course; •retire earlier •retire richer •earn extra money from time to time •work part-time •give up your day job Some can be set in tandem, but ultimately these various reasons for setting goals will determine what you buy, where you buy, and when you buy. Pete also offers some great insights for listeners who are keen to retire richer. 5. Keeping it simple (and avoid goal competition) Dave speaks candidly about one of his preferred authors, and a great lesson he's picked up from Jim Collins, (Good to Great, Built to Last). The importance of setting three clear goals; "If you have more than three priorities, you have no priorities", and he also encourages people to consider three things they should stop doing. 6. Set your goals for the now and hold yourself accountable Dave cites Steven Covey (Seven Effective Habits); "Schedule your priorities daily, don't prioritise your schedule". The way that Dave describes a stepped model is as follows; •What's your "some-day" goal •What's your five-year goal that will help you reach your "some-day" goal? •What's your one-year goal that will help you reach your five-year goal? •What's your monthly goal that will help you reach your one-year goal? •What's your weekly goal that will help you reach your monthly goal? •What's your daily goal that will help you reach your weekly goal? The planning fallacy is something that can...