Ever hear of BHAG?
It’s an acronym for Big Hairy Audacious Goal (BHAG).
Every time a new year begins, we’re all reminded of the value of setting goals for the coming 12 months. But one of the biggest challenges – especially when setting a BHAG or even sorta-kinda-big goals – is figuring out a way to get rolling towards success without burning out in the process.
When it comes to accomplishing big goals, most of us (according to an article in Forbes) procrastinate… as in “I’ll get started tomorrow” or “it’ll take me a week or so to get ready.”
You can guess where that leads – nowhere.
Forbes recommends what they call “The Cutting in Half Technique” – and it goes like this:
Step 1 – Identify your big One Year goal.
Step 2 – Ask yourself, “What do I have to accomplish in 6 months to stay on track?” (Basically, cut that goal in half.)
Step 3 – Repeat – “What do I have to accomplish in the next 90 days to reach that 6 month mark?”
Step 4 – Repeat – “What do I have to do in the next 30 days to reach that 90 day mark?”
Step 5 – Everyday ask yourself “What do I have to do to stay on track with everything and make TODAY a successful day?”
This strategy of breaking down your BIG GOAL into smaller and smaller pieces enables you to visualize and see yourself making real progress towards the end result you wan to achieve. It’s like the old joke, “How do you eat an elephant? One bite at a time.”
This approach meshes nicely with the way we approach investing and building a solid portfolio. While there’s nothing wrong with taking massive action over a short period of time, the better option is to identify a financial goal and work steadily over time to achieve it.
Give me a call today at 610-695-8748 and we’ll help you put together a “Wealth BHAG Plan” perfect for you.
