At an early age, we are exposed to the demands and expectations of our parents, friends, school, and even our personal ambitions. Hopefully, with appropriate education and support systems, the majority of us rise to the occasion. But as we mature, even though achieving objectives are part of everyday life, an effective process that helps ensures success may be somewhat opaque.
Adam Ferrari, an accomplished petroleum engineer and the founder of Ferrari Energy, understands the importance of goal setting, especially as an entrepreneur. However, it simply isn’t enough to vocalize an idea as a goal. To increase your chances of success, it’s necessary to establish a detailed process that tracks your progress throughout the endeavor. In this article, Mr. Ferrari reviews critical steps you should implement in your goal tracking and execution.
1. The Big Picture
All goals, regardless of scope, require a sturdy foundation. While excitement is encouraged, don’t let it rush you into rash actions. Instead, take a step back and contemplate the big picture. Reflect on the purpose of the new goal, your desire to achieve it, and how accomplishing it will affect you long-term. Once you establish these elemental guidelines, move forward with the planning and execution phases.
2. Actionable Steps
It’s only natural to feel overwhelmed by the new tasks ahead, proving active goal setting all the more crucial. According to a study overseen by Benjamin Harkin, Ph.D., of the University of Sheffield, and published by the American Psychological Association, monitoring progress towards a goal significantly increases the chances of success.
Goals are easier to measure and act on if they’re broken down into smaller tasks. Depending on the target completion date, plan well ahead, and create subtasks for each month, week and day. It’s more realistic to hike a mile than it is to scale a mountain in a single day.
3. Schedule Regular Check-ins
Use a journal, calendar, or, better yet, a dedicated app to monitor your progress. While it’s important to track your daily incremental achievements, don’t forget to focus on your weekly growth as well. Regular check-ins help with task accountability, while weekly and monthly updates provide a bird’s eye view of your progress. The latter can help you adjust action plans and final goals as necessary.
Realistic goal setting involves analysis and the ability to revise goals when it makes sense. The data, whether analog or digital, may expose particular bottlenecks or pain points that are hindering your overall progress. As a result, you may need to update subtasks or refine the goal altogether. In some instances, a goal may longer be applicable and should be dropped so that your valuable time and resources can be dedicated elsewhere.
5. Reward System
The journey towards a goal is already full of obstacles and valleys of labor and, therefore, should not be without enjoyment. Celebrating small wins improves motivation and reaffirms your commitment to achieving new heights. Though obtaining your goal will be a reward in itself, a reward system incorporates an element of fun and elevates the process with positivity.
Goal setting is a worthy endeavor and should be commended. Some goals will be easier to achieve than others, but with proper prep, execution, and tracking, you’ll become more focused and efficient at completing any task that lies ahead.
About Adam Ferrari:
Adam Ferrari is an accomplished petroleum engineer and is the founder of a private oil and gas company, Ferrari Energy. Throughout various roles in the oil and gas industry, Adam was inspired to learn more about property rights and the inner workings of petroleum exploration and extraction. After gaining expertise in the energy sector Adam obtained knowledge of the financial industry through his time at an investment banking firm. He then pivoted to bootstrapping his own business, Ferrari Energy, from the ground up as he blended his knowledge of energy and finance together.
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