Have you ever wondered what you life is going to be like in 5 or 10 years? Will you be doing the same things you are today? Have you taken the time to envision the future through long term goals?
There are only three possibilities for your life in the future:
- It will be the same.
- It will be worse.
- It will be better.
There really is no other choice, so realizing this, which option will you choose?
If you choose option 3, then being able to set long term goals is the best way to ensure that you’ll get to where you want to go.
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What Is a Long Term Goal?
A long term goal is what you are planning to achieve in the long-run or in the future.
Where do you want to be in five years?
Everyone has a plan for their life. We all imagine what our future will look like, what we will be doing, how we will be living, and even who we will be living with.
While things rarely work out exactly as planned, it is nonetheless important to set long term goals and work toward them. Without long term goals, we are just wandering aimlessly through life.
The most successful people know the power of goal setting and how to break down larger goals that may take years to achieve into a series of smaller, short-term goals that will keep you focused and motivated.
How to Set (and Reach) Your Long Term Goals
Do you suffer from paralysis by analysis? It’s a common condition that happens when people are faced with a lot of options.
When faced with too many options, they become obsessed with choosing the “right” one and never make a decision.
Likewise, when faced with a seemingly overwhelming task, they may never even start because they “just don’t know where to begin.”
Before we get started with some tips to help you, you can check out this video on setting goals for success:
By following these 7 easy steps, you can set and achieve almost any long term goal, no matter how big or small it is.
1. Make Goals, Not Wishes
Who hasn’t thought about winning the lottery or inheriting a lot of money from a rich relative? While there is nothing wrong with daydreaming about these things, they are not goals.
A goal should be something that you can work towards during a period of time, not something that falls into your lap through luck.
A goal is “I want to have a business that makes one million dollars a year within five years,” not “I want to win the mega millions within five years.”
2. Be Specific
Remember when you were young and a grown up would ask, “What do you want to be when you grow up?”
No one ever said I want to work in the medical field or in government. You said I want to be a doctor, the President, or a policeman. These were specific goals that we had as kids, and while most of us didn’t end up astronauts or presidents, we still pictured ourselves in these very specific roles.
When you are setting long term goals for your life and career, it’s important to be as specific as possible. Get into detail about what you want, and think about it in very concrete terms.
Instead of saying “In five years, I want to be rich,” think about what that really means to you and what it would look like. Having a more specific goal would be, “In five years I want to own a Ferrari, live in an upscale neighborhood, and be making enough money to take a two week vacation to Europe every year.”
Having specific goals makes measuring your progress more easily. You know you reached you goal to have a Ferrari if you look in the garage and see one. It’s much harder to gauge if you are “rich,” as rich is always a moving target.
3. Write Down Your Goals
A goal that’s not written down is just a wish. Please do not neglect this step!
As humans, we are prone to daydreaming and wishful thinking. We need to take concrete steps to realize our goals.
When you set long term goals, you need to write them down. This single act will take your goal out of the realm of the mind and into the physical (real) world.
Just by taking this step, your odds of achieving your goal go up tremendously.
4. Break Down Your Long Term Goal Into Smaller Goals
It can seem overwhelming to say, “In five years, I’ll have a business that makes one million dollars per year.”
How do you get from not having a business at all to having one that makes a million dollars per year? The answer is the same way you’d eat an elephant—one bite at a time.
Once you have decided on your long term goals, you’ll then need to break them down into a series of short term goals.
In our business example, you’ll first need to do some research on a business you can start in your spare time. There are a lot of options out there that don’t necessarily take a lot of time or money to get started.
Then, you’ll want to get competent in the business by taking training courses and networking with others who are already successful in the business.
Once you have a good foundation, it’s time to get started. Launching the business will be the scariest and most rewarding day of your life, but you’re still not close to making a million dollars per year, so break it down some more.
Your first-year goal may be to earn $50,000. Your second year, you’ll want to earn $150,000. From there, you’ll basically need it to double each year in order to reach one million dollars in five years.
Each of those years can be broken down into smaller goals until you realize you need to make $149 per day. You can break it down even further to say you need three sales per day to make the $149.
At first, you may have no sales, but by experimenting with various marketing strategies that you learned earlier, the sales will start coming in. Then, it’s just a matter of fine tuning your marketing efforts and building on your successes.
5. Remember Your Long Term Goals
You have set your long term goals and even written them down.
Now, don’t just put them in a drawer. We need to have a constant reminder of why we are doing this. Your long term goals should be displayed somewhere prominent (for you). You don’t need to hang them over the fireplace, but they should be placed where you can see them every day.
Things go wrong, and issues and problems arise that no one can see. It’s during these times that remembering your long term goals is important.
6. Reevaluate and Adjust
You should always be looking for ways to improve what you are doing, but it’s especially important in this new internet age. We don’t have to look very far to see how quickly things can change. You must be willing to change course or be left behind.
Getting back to your growing business, the marketing that got you to $600,000 per year might not be the marketing that gets you to your long term goal of one million dollars per year.
Always keep your goal in mind, but always be willing to adjust course to get to it.
7. Don’t Give up
Realize and understand that the road to success is never straight. You will inevitably come up against obstacles and barriers to your goals. This is not the time to quit.
In fact, coping with the obstacle or finding a way around the barrier leads to more success than anticipated. Always remember, the only sure way to fail is to quit.
You can learn more on how to overcome challenges you may face in this article.
is the number one reason most people will never become as successful as they could be. Change is a scary thing, and it’s not easy for people to get out of their comfort zone. Most people won’t unless they have to or they perceive that the reward is worth the risk.
By setting long term goals and then breaking them down into smaller goals that are easily achievable, you have created your own personalized road map to success.
And while that long term goal of making a million dollars a year seems insurmountable, the short term goal of making $149 is easily doable.
While the road to achieving your goals is never a straight line, and there will always be detours and bumps in the road, embrace these things, as they are all part of the journey.
More Tips on Setting and Achieving Goals
- A Complete Guide to Goal Setting for Personal Success
- 20 Examples of Personal SMART Goals To Improve Your Life
- How Setting Personal Goals Makes You a Greater Achiever
Featured photo credit: Bench Accounting via unsplash.com