Written by Zoe Greensit

Last updated 30 November 2020 ·

10 goal setting tips including Warren Buffett's key to success!

Have you ever heard the popular statistic that claims those who set goals are 10X more likely to succeed? Well, that’s not just hearsay, it’s true! Setting goals dramatically increases levels of personal and professional success as they provide something to aim for in the form of a clearly focused set of priorities. Having goals is hugely motivational and therefore, positively impacts our mental health.

“All who have accomplished great things have had a great aim, have fixed their gaze on a goal which was high, one which sometimes seemed impossible.” - Orison Swett Marden, inspirational author and Founder of Success Magazine

Setting goals helps us identify what we really want in life, prioritising what’s most important and providing a roadmap to move forward in the correct direction to achieve it. So how do we effectively set goals to succeed? Warren Buffett swears by his 5/25 rule which involves making a list of 25 things you want to accomplish in life, both personal and professional. Then looking at this list and circle the top 5 that are most important to you. The remaining list of 20 things then becomes your “avoid at all costs” list whilst the top 5 become your real list of goals to focus on. By eliminating 80% of things on the priority list, this allows you to sharpen your focus on the 5 things that really matter. Check out our blog to learn how to focus on being more effective

Here are 10 tips to help you set goals and work towards them effectively.

  1. Reflect and review the past year. What went well? What didn’t go so well? What would you change if you could go back? Consider these learnings as you review your key priorities for next year and assess what is achievable with stretch.
  2. Record your goals in a journal or log. This is very important and has a huge impact on the rate of achievement. You are 42% more likely to achieve your goals if you write them down!
  3. Realise your goals, write them as if you have already achieved them. For example “I made 50% more sales this year compared to last year.” If you’ve set your goals around something you are particularly passionate about (which you should) this will be a very exciting part of the vision that will drive motivation.
  4. Get Smart! Yes, we’ve all heard of this, but sometimes forget to put it into practice. The more specific, measurable, achievable, realistic and timely a goal is, the better you are set up for success. The best goals are those which include a good amount of stretch to move you slightly out of your comfort zone and challenge you.
  5. Revise your goals by writing them out and reading through them on a daily basis. Consider them in everything you do - regularly ask yourself “will this help me move closer to achieving my goals?” Our Founder and CEO, Pete Wilkinson, writes out his top 5 goals every morning before he starts the day to remain super focused in everything he does.
  6. Visualise your goals - Go through how things will look once you achieve your goals in great detail in your mind every day if you can. Harness the power of visualisation.
  7. Create an Action Plan of how you are going to achieve your goals. Split goals up into smaller milestones and tasks, then each time you complete one of these it moves you closer to achieving your goals. If you don’t do this you may end up feeling overwhelmed and not knowing where to start. Check out our blog on this entitled Milestones help you stick to your big goals
  8. Be flexible. Just as we’ve seen in 2020, life can throw curveballs out there which you’ve no control over so remember you may need to be flexible and review your goals over time as external factors can change.
  9. Celebrate your success regularly, weekly even, be proud of your progress as it all moves you closer to achieving your goals and the life you truly want to live.
  10. Get support. Find people in similar positions to you who are striving for similar goals as they will provide support as well as motivation and you could learn a lot along the way.

“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success” - Pablo Picasso

If you find yourself procrastinating you may need to assess your mindset around how you view the tasks and milestones you’ve set to achieve your goals. Check out our blog on learning to reach your goals for more guidance on this.

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