Setting The Right Goals for 2024
I was getting it wrong.
Every year, at around this time, I sit down and write up some goals for the year ahead.
I’ve been doing this for the past few years and I keep a record of what my goals have been each year.
Writing them down has a remarkable effect on them being achieved. Although I don’t succeed in everything, the hit rate is pretty good.
Last year, however, I read Grit by Angela Duckworth. A fantastic read that I’d recommend to anyone. There was one bit in particular that really stuck with me around setting goals, and making sure you’re setting the right level of goal…
Angela argues that many of us set goals that are too low-level and I was I was falling for this exact mistake.
The idea is that there are various levels of goals, where low-level goals work in pursuit of higher-level goals.
For example, imagine a 5k runner athlete who has a goal of winning a gold medal at the Olympic games. This is the high-level goal, but there are various low-level goals in pursuit of that, such as “shave 10s of my PB”, “train 6 days per week”, and so on…
“For me, my very highest-level goal is to use psychological science to help kids thrive. That’s my mission statement, and I can’t think of anything that would make me give up on it.” — https://angeladuckworth.com/qa/
I had previously been setting goals around financial targets, fitness, and life, but they missed the mark. They were low-level goals that were really in pursuit of something higher-level.
Here are some examples from previous years…
2020 Goals
- Save £30,000 in cash — why? For what purpose?
- Save £40,000 in my pension — why?
- Remortgage the house — this is a chore, not even a goal.
The saving isn’t the goal — the goal is whatever I want to do with that money.
It was a profound realization to see that the goals I was setting were more tasks, rather than missions. I hadn’t even really considered why I was pursuing some of these. Like the hamster running around the wheel, I was focused on the running, not realizing I wasn’t making any progress towards anything.
A Change In Approach
Last year I thought deeply about what I actually wanted to pursue in life and arrived at a totally different set of goals. I used the five whys technique to dig into my own mindset and bounced ideas around with my wife.
The result was, I think, much higher-level goals that align closer to my purpose and values in life. Here are the goals I had for 2023.
2023 Goals
- Enjoy time together as a family —we have two small children who are growing up fast. I want to treasure this time, prioritizing our time together.
- Achieve financial independence — I set various financial goals (savings targets, investment choices, etc) that work in pursuit of this, but the high-level goal is to be financially secure.
- Enjoy the fruits of life — life isn’t all work. I don’t want to forget to have a little fun. Enjoy ourselves and splash out on the things we love from time to time. #yolo
Having these goals changed a huge number of things in a positive way.
A Positive Change
When I look back on 2023, there were a number of times throughout the year when having these high-level goals in my mind changed our behavior.
We went on lots of day trips and weekends away (Enjoy time together as a family)
I was frugal with money in some ways (progress towards financial independence)
And I splashed out in other ways (Enjoy the fruits of life)
The change in approach to setting higher-level goals that closely align with our values meant that we always remembered to prioritize them. They became the bedrock of how we made decisions and continue to be.
Looking Forward
My goals might not be relevant to you. You might already have clear goals for the year ahead. My key piece of advice for you is, to ask yourself why. Why do you want to achieve it?
You might just find there’s a higher-level ambition lurking under there.
Here’s to a year of setting goals that push yourself in ways that align with your passions, values, and ambitions.
Embrace the inevitable detours, and celebrate small victories along the way, but always remember the root of what you’re working towards.
Oh, and go read Grit — it’s great!
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