Doubling My Income Through the Power of Regular Goal Setting

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Having clear, written goals can make a huge difference in what you can achieve in less time. About ten years ago, I signed up for my first coaching program, The Strategic Coach. It’s a program designed to help entrepreneurs grow exponentially. I rarely use the term "game changer," but in this case, it fits perfectly. I plan to share what I’ve learned from the program and how it has benefited me in future blog posts. I hope you’ll find something useful to apply to your own life.

Every quarter, I spend a full day with other entrepreneurs in a classroom setting, reviewing what we’ve achieved in the past 90 days. It’s easy to lose track of wins, big or small, when you’re busy. The next part of our session involves setting goals for the upcoming quarter.

In these sessions, we also revisit and update our 1-year, 3-year, and lifetime goals. Before joining Strategic Coach, I used to write down my goals at the beginning of each year, hoping to stay committed by publishing them on my blog. But soon after, I’d get caught up in other posts and forget about those goals.

Now, because of the coaching program, I regularly review my goals. This discipline has led to significant improvements in both my business and personal life. Since I started consistently setting and revisiting my goals, my business revenue has almost doubled, and I’ve been able to focus more on what I love doing.

Here are my most recent goals:

Quarterly Goals (ending January 25th)

1. Launch Good Financial Cents Podcast: This involves ordering the intro from Fiverr and recording at least 11 episodes (4 before submitting to iTunes).
2. Launch Redesign of Good Financial Cents: A designer has been working on this since mid-July, and now I need someone to convert the design into a new WordPress theme.
3. Give a Killer Talk at FinCon: This one’s done and dusted!
4. Schedule a Disney Cruise with Family: We had several conferences and trips last summer but didn’t get a family vacation. I thought a winter cruise would be perfect for a warm break.
5. Complete a Course for Wisebread.com: I’m contributing to Wisebread.com as their “CFP” expert, and we’re working on a course based on my book.

1-Year Goals

1. Gross Revenues Exceed $750,000: This includes all my businesses. I hope my online revenue will eventually surpass my financial planning practice.
2. Streamline Duties of Alliance Wealth Management, LLC: Implement systems that let my team handle most of the work, bringing in a strategic partner to take on new clients.
3. Launch a Podcast for Dollars and Roses: Our goal is to release 2 podcasts per month.
4. Delegate Administrative Duties for Good Financial Cents: This includes scheduling posts, adding images, and dealing with advertisers.
5. Plan a 2-Week RV Trip with Family: As a kid, some of my best memories were on RV trips, and I want my kids to have similar experiences.

3-Year Goals

1. Total Revenues Over $1 Million per Year: The goal is to net $1 million annually, with 60% coming from online businesses.
2. Be the Face of Alliance Wealth Management, LLC: Conduct meetings with bigger clients while my team handles most work.
3. Content Producer for Good Financial Cents and Dollars and Roses: Focus solely on creating meaningful content, interviews, and videos.
4. Live Abroad for at Least 3 Weeks with Family: Ideally in Australia. Initially, my wife and I thought it would be too hard with young kids, but we hope it’ll be feasible in a few years.

Lifetime Goals

1. Spiritual Leader of My Household: I want to be seen by my children as a father who prioritizes faith.
2. Long and Fulfilling Life with Family: Instill values of hard work, love, and respect in my kids.
3. Multiple Passive Income Businesses: Businesses that generate over $100,000 a month in passive income.
4. Live in Multiple Countries with Family: Spend extended periods (at least three weeks) living in different countries.
5. Inspire Over 1,000,000 People: Encourage others to invest in their futures, whether through traditional means, higher education, or starting a business.
6. Be a Successful Entrepreneur and Author: Be known for putting family and faith first.

What If I Don’t Achieve My Goals?

If I don’t hit my goals for a quarter, I don’t stress about it. Often, something unexpected comes up that takes priority. Sometimes it’s just a bad idea that I realize midway. I’m improving at spotting these, but some still get through.

Your Goals

Do you regularly revisit your goals? When was the last time you wrote them down or revisited them? If you want to try the same worksheet I use for setting my goals, you can download it for free and give your goals a boost.

Final Thoughts

Joining The Strategic Coach program was a pivotal decision in my pursuit of growth. Setting and reviewing goals regularly has reshaped my entrepreneurial approach. It has amplified my dedication, almost doubling my revenue, and allowed me to focus on what I love.

I’m thrilled to share this journey with you, hoping it brings insights that will energize your own path. Remember, goals are our guiding compass, steering us toward achievements that transform our lives.