Podcast Transcript: Long Term Goals

Transcription of the Long Term Goals episode of the podcast Doers Shakers Makers with Sierra Bailey.

Download the pdf and listen and see the show notes here.

[00:05] Are you a goal setter or do you wish you are or maybe you have no idea what the big fuss is all about. Well today I’m going to talk about long term goal setting and help you understand how it can

[00:17] be a useful tool for you. My name is Sierra Bailey. Welcome to Doers Shakers Makers, a podcast for go-getters to inspire you in your business and life. Thank you for joining me today and as I said in the beginning, I’m going to talk about long term goals today. So in goal setting, you’ll usually hear long term, short term. Both really should be handled the same but we’re going to focus on those long and by long, I mean two year, three year, five year, 10 year and beyond goals. The short term would be your daily, weekly, monthly, up to one-year goals, let’s say. So I kind of think of those as like your work versus dream goals. So the not for your work but the actual things where you’re doing the work are your short term goals and the long term are more of like the big picture thinking, looking at your life as it unfolds.

[01:14] Thinking of the future, dreaming of what could happen. Planning for far in advance. There are no matter what type of goals you’re setting, ways for you to track be it you’re writing down in planners, having online. I mean you can have a piece of paper that has them on there. There’s a lot of things about that from you know, writing down your day in the future that is perfect, to actually having action items listed. I’m not going to get into that today. That’s a whole other subject and you can Google that. There’s so much information out there. I do want to say though that no matter what way you’re choosing to track your goals, that they should all be SMART goals. You’ve probably heard that term thrown around. Basically it’s an acronym. It stands for specific, measurable, attainable, relevant and time-based. That’s basically saying that even when we’re talking about long term goals, you don’t want to have just vague, non-measurable:

[02:14] I dream to be a rich person, you know, like what does that mean? That does that mean monetarily does that, you know, like there are so many different things like and if it does mean monetarily, like what amount do you want to see in your bank account? You know, you need to get really specific with these things basically because, in the world of goal setting, the most achievement that people have with setting and keeping their roles is when they do have SMART goals. So if you have them measurable and time-based and specific and everything, there’s a much greater chance that you’re going to reach these than if they’re just vague wishes. And always remember as well that goals are all fine and good, but if you’re not taking action, then you will not reach your goals. You can’t just sit on your couch and dream of these things without doing anything that it will not happen.

[02:58] There were a lot of out there about positive thinking and thinking big and all of that, but you do have to take action to accomplish these. So just keep that in the back of your mind. So a big game-changer for me when I started getting involved in goals, and I’m going to tell a little story here. Because I have been pretty much an entrepreneur or a creative for all of my adult and career life. It makes it a little, sometimes a little difficult to think long term because it’s not obvious. I was having a conversation yesterday, shout out to Ian, I hope you’re listening Ian, I think you’ll like this one about, you know, do I set long term goals? Do I have the 5 and 10-year goals? So it’s a little difficult when there’s not, like I said, an obvious like, oh, I’m going to go for that position.

[03:41] And then that position and I want to do that. However, when I first started it was more of the, one day I want to be in this magazine as a jewelry designer, I want to have this accomplished. So I had things like that that I wanted to hit. I did not necessarily have like, oh, I want to be CEO of a company. Because technically when I had my jewelry company, I was but not of the scale that we think of when we think of like, you know, apple. So it’s a little bit different if you’re an entrepreneur, your path is slightly different, but you still need to have things that you’re reaching for. And side note, when you reach them, please celebrate them even if it’s a little bit. Because that is another trait that we all have as entrepreneurs. And I’m sure many of you who are going with a more traditional path, it’s that you, you know, you get the thing and then you just move on to the next thing.

[04:28] So part of the long term goal setting is having things that when you reach them, you’re acknowledging that you’ve reached them. So it’s, it’s a healthy way to accomplish what you’re setting out to do. All right. So my story is, a few years ago I was feeling a little restless. I was right before I was 40 and I always laugh that women right before they hit 40 and in that first year or two, I don’t think I would call it a midlife crisis, but we all have a real like rethinking of what we’re doing with ourselves and what our lives are looking like and a lot of what our careers, what our work has been up to this point and what we want it to be going forward. So I was having that moment. I was a jewelry designer, I had a thriving company. I had, depending on the year, many or some people working for me and I had hit all of my goals and it was starting to become a little frustrated with where I was going next.

[05:21] I had built a company that was not really scalable, and I had scaled it to the top. So I was restless and I did some deep goal setting at the beginning of a year, which led me down a rabbit hole of looking sort of into which I’ll get to in a moment, my mission and my purpose and through the practice or the actual experience of goal setting, not of reaching the goals and getting them, I basically realized that I did not want to be doing what I was doing anymore and it was really very difficult because a lot of it was that I had built this dream career, so I had actually built exactly what I wanted to do with my life and I now hated it. That was very confusing. It took a while for me to wrap my head around that, but it was really important that I’d gone through that exercise because it really identified what the problem was.

[06:11] The problem was that I had no longer these things that I was working towards and I was feeling very stagnant. I was feeling unchallenged. I was bored really because I felt like I was just going through the day to day that I had been through so many times before and I was craving a new experience and something new and basically, you know, over 15 years in that one business, I had just run its course for where it was. And like I said, due to the handmade nature and profits and margins all the realities of business, it wasn’t scalable to continue on as what it was. And I took that as a real moment of gratitude to realize, okay, it’s run its course. You can move on like this is okay. You can have new goals. This is not aligning with what you want in your life and your mission.

[07:01] It’s okay. So know that I get it. If you’re in a place where you’re like, I don’t want to face what I think of as my goals, like I’ve gone completely off track or I no longer want those goals or I’m feeling it and going right along, you know, these are all reactions when people do their long term goals. And it’s really why so many people in the productivity space feel that it’s important to spend an hour every week checking in, looking forward on your week, making sure that you’re working on the projects to get all of those long term goals in place and things like that. But also to really, every year take a few hours and sit down and reassess where you are. Because especially those of us that don’t have an obvious path that we’re following, it’s really important to reassess and kind of see, am I actually doing things that are aligning with my values and with my mission and my purpose and all of that.

[07:51] And for those of us that are choosing to be in a more structured, corporate or nonprofit path, that too is really important because we all change and evolve, and things happen and our values adjust. And so long term goal setting is a great way to check-in with yourself all the time and make sure that you’re really doing the thing that you want to be doing at that time. So one of the things that really kind of helped me through when I started putting this big exercise together of that annual review, was having areas that I was looking at and it was very interesting because it made me realize how off-balance I was. There are anywhere from five to seven areas, usually when people do their goal setting and it ranges depending on your lifestyle. They are around career, personal growth, fun and recreation, health and fitness, home improvement, finances, relationships, spirituality.

[08:42] If you have something that is more important to you, then that can come in there and these are the basic framework really that you want to make sure that you have goals in and that you’re checking on in your life. I realized when I did this big reassessment exercise thing that there were entire sections of my life that I had nothing going on in. Like nothing going on in and a lot of that is because I am the type of person that, there’s a reason I have had a few businesses. I really will throw myself into something and completely give myself to it and commit all of my time to it. Where I used to live, I actually was at one point working full time running a fine dining restaurant and running my business, which was at its peak of insanity at the same time and there was just no room for friends and family like there was no room to talk to people and I was able to kind of come out of it.

[09:31] I ended up leaving the restaurant job after a while and going full time with the jewelry. That’s a story for another day, but I had actually done that twice and there was lots of reason of, if you are running a business full time, also having a full-time job so that all the money can go back into the business and I was able to do that at that time and when I came up for air, so many people were like, you just disappear for months at a time and we don’t even see you. You’re like an enigma. That is my own personal preference and ended up having some big holes in my areas of my life. So I don’t recommend that to everybody, but I know that there are some people that have that personality trait. I mean we can’t really change innately, well according to Carol Dweck, we can, but that ability or desire or whatever to dive in that far, that’s a hard one to shake.

[10:17] So if you’re like that, hey, no judgment, it’s okay. Just be aware of what the areas are. Note that maybe a couple of times a month, a couple of times a year, try to see some family, have some fun, do some things like that. If you are somebody that never is paying attention to your career and finances. Career, maybe you can get away with that finances, be aware. You know, we all hear the stories of the woman who’s widowed and paid so little attention to her finances and somebody swoops in and takes advantage of her, and takes all of her money and then she’s left penniless on the street. And be aware of no matter what, of all of these areas, just be aware. I will tell you why it is so important other than my lovely story that illustrates it.

[10:58] To have long term goals. So first of all, as I mentioned earlier, it helps you understand what your mission and your purpose is. And if you’re into that, your why. There are two thoughts on if we need to, everybody keeps talking about you need a why, you need a why. I think it is a statistic that something like 90 something percent of people never have a why. Eh, you know, it depends on how much you want to have a why. We don’t all have a huge obvious why. Some people have more of a why. But in general, it’s really important to have a mission. And what I had realized while I had the jewelry career was that my mission was to, I very much want to help people have confidence in their ideas and in what they do and feel like they can get out there and do it really well.

[11:40] And really I think that anybody can figure out how to do what they want to do well. And I started looking at myself as a jewelry designer and not understanding how I was doing that. This led to a really cool year-long, live video series where I tried to talk about other topics and then I had just eventually it was like, yeah, I’m really enjoying this way more than designing jewelry at this point. So yeah, I’m going to stop talking about me. Okay. So in the projects episode, we talked about that five is the ideal number of projects to be ongoing, not like onboarding and finishing, but like in the thick of it. So by having your long term goals and your assessing your goals, it’s a great way to be able to check-in and see how many projects you have going on or knowing what you have kind of coming in the pipeline of a project you want to work on.

[12:26] To make short, let’s say you’re going to be moving or you’re buying a house or you’re selling a house. In that episode, I talked about that you can’t have five projects in each area. You need to really just have five projects. So by paying attention to these long term goals and kind of what’s going on in your life down the road, that’s a great way to make sure that you have not too many projects going on, yes. But also enough projects. Maybe you’re feeling an emptiness because you’re not having something that’s making you feel fulfilled and things like that. Like, maybe you have your day job, maybe you even have a side hustle, but maybe you need something like a volunteering opportunity or experience or like maybe you need to redecorate or plan a big trip with your friends or you know like maybe you need more projects?

[13:05] Maybe that is lacking in your life. Or of course, you can cut a few out. And the third reason why it’s really good to pay attention to these long term goals and goal setting is that are you getting enough done? Are you challenging yourself? Are you moving forward? Are you finishing a year being like, what did I do with an entire year of my life? Like what am I doing with myself? The day in and day out is just chugging along and I don’t feel like I’m accomplishing anything or using my time well. So by long term goal setting that keeps that in check and makes sure that when you reach a situation where you’re not feeling challenged, that you can identify what’s happening and make sure that you’re feeling challenged. It does not have to be as drastic as what I did with a career change. Maybe like I said, it just means bringing in more projects or things like that.

[13:45] Now the last thing that I want to talk about with goals is that, like I said, a lot of times with entrepreneurs there’s not an obvious straight line so things change a lot. But also with those of you with a more obvious already walked path in life, things can change for you as well. I am a big believer that your goal should be fluid. They should allow for change. Your goals are based on the life that you want, not on what your mom wants for you, what your wife wants, you know, whatever. They are based on what you want in life. And that can change depending on what your experiences are and what you’re doing with life. So sometimes values shift, like grandpa used to be very different when he was young compared to old. Like people change as they grow, as they go through different things, as they experience wonderful things and really bad things.

[14:29] It affects how we are. So sometimes the values, the mission, the purpose, your why, if you were very career-driven, and all of a sudden have a baby and decide that you really want to have like 10 kids and focus on that. You obviously will have different goals now. So it’s really important to accept change to know that goals are fluid, to know that it’s okay to change those long term goals. I really love that as time has gone on, there’s a lot more inclusion in life and there’s a lot more acceptance and there’s less judgment and it is no better time, I mean obviously there are still issues, but it is a great time for people to feel that they can really go do what they want and follow their passions by passions change. So when you’re setting these long term goals, don’t feel like you have to set this thing that will stay like this forever.

[15:16] You can change your long term goals as often as you want. They’re your goals. The whole point of them is just to help you check in with yourself to make sure that you’re challenged, that you are purpose-driven, that you have a reason to get up in the morning, that you are working on enough things to make you feel fulfilled and to make you feel like you’re getting the most that you can out of this one life that we lead. I just really want to stress that goal setting is not this rigid, oh, I have to define how I want to be for the rest of my life. No, no, no, no. Your five-year goals can change at the end of the year. It’s just a great exercise to really reflect on what you’re feeling and where you’re going and make sure that you are feeling like every day you’re getting the most out of your day.

[15:59] I hope this helped you understand a little bit more about long term goal setting. I probably should do an episode at some point on the short term. At this point. It’s not out yet, but I really loved explaining with you why it is such a great thing to do. If you enjoyed this today, that’s awesome and I love it. And in case you don’t remember, my name is Sierra Bailey. This is Doers Shakers Makers, a podcast for go-getters. And please subscribe. You can find me on all of the normal podcast places, at Doers Shakers Makers, and if you’re listening with apple, reading and reviewing helps me get found, but I’ll be back next Monday to keep you inspired and to get you doing, shaking and making.

The Doers Shakers Makers podcast is hosted and produced by Business Strategist, Speaker, and Writer, Sierra Bailey. Have something to say or want to say hi? Send Sierra an email.

Did you know that there is a group filled with people just like you, who love to learn, grow and connect? It’s the Doers Shakers Makers Facebook group, and we’d love to have you join us!

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