Goal Setting 2010 part 4 of 4

By
Real Estate Agent with Brokers Guild Cherry Creek Ltd IA100052670

Goal Setting 2010 part 4 of 4 (or promises you make to yourself) Thanks for the new vision John A!

Goal Setting part 1

Goal Setting part 2

Goal Setting part 3

Start with a list of ideas similar to the concepts below so you can really break them down and FOCUS with a specific plan for each category to accomplish your goals or vision for 2010.

  1.  Family
  2.  Health
  3.  Finances
  4.  Personal Development
  5.  Business Plans
  6.  Philanthropy
  7.  Love
  8.  Education
  9.  Career
  10.  Exit Plan

This post will address the last two components to assist in creating a goal for 2010, Career and Exit Plans.

9.  Career

The statistics of people thinking they are in the wrong business, no matter what industry you are in are very high. Over 50% of people in their jobs are thinking about whether they should be in that job or not. 

If you are one of those people, now is a great time to figure out if you want to stay or need to go.Spiral  Should you decide to stay, now is also the time to really define your career path.

Take the time to determine where you want to be in five years, ten years, twenty years and the exit plan. No matter what line of work you are in, the fact is you need an exit plan and should start planning for that point.

I remember 1995 and attending a class where we were supposed to describe the year 2000 and how different business would be.  It was one of the hardest exercises I had ever done because at the time just getting through the year was about as far as my consciousness would go.  Rest assured the 5, 10 and 20 year planning will not happen overnight.  This post is just a reminder of something that needs to be on the to-do list. It is something that needs to be addressed and the sooner you start thinking about it, the better off you will be in being prepared.

When you start thinking with the big picture in mind it makes going backwards to define what it is you need to do to get where you want to go is MUCH easier. 

Ask yourself questions about your career.  Do you want to be a broker?  What do you have to do to obtain that license? Do you want to open your own office? Do you want to receive a CRB, GRI or CRS designation?  What steps do you need to take to get those designations?  How many classes a year are in your budget to do that?  Can you arrange a family vacation around a location offering classes? 

What you are doing this year is going to have an impact on your career so take the time to really think about your direction and where you want to be in five years.  It's not hard, it is just life and your decisions will determine how you are connecting all the dots and how much balance and stress you will have going down the road of life.

 10. Exit Plan

This could be a term that could make you uncomfortable and I want to assure you it is nothing that should give you a pit in your stomach.  When you think about the "Circle of life" an exit plan is something we all need to embrace. 

There are many different exit plans.  The one I am speaking about in this post is retirement.landsape  When you stop doing whatever it is you are doing on a daily basis you need to have a plan to transition into the next stage of life.  When you start to process life as chapters it might make the retirement chapter much easier to accept.  We are all going to get there whether we like it or not so making it a fun journey with expecting only good, makes the trip much more pleasant. 

Starting your exit plan will again, take time.  Determine where you want to live, what type of house you want to have, how many vacations you want to take a year, what sporting clubs you want to belong to, how many cars you want to maintain. Can you see this is the same process as business planning where you start from the end and work backwards. 

Once you figure out what it is you want your retirement to look like then you have to assess how much it is going to cost you to maintain that lifestyle.  When you break it down to a cost basis, it could be that your expectations and reality might be different.  The thing you can do now is to plan how much you have to save or invest to get where you want to go. 

If you want to have a cash flow of $5,000 per month that could mean that you want to purchase an 8 plex or 5 single family homes and have them paid off by a certain date.  Each area is going to be different with the cash flow scenarios as far as rent levels and expenses so start to plan and know the cost of maintaining the buildings, paying taxes and management.  Once you figure out what it is you want or need then you have to plan to buy the property to fit into your vision.

Everyone is going to have a different idea for the exit plan with many external factors flying around which have to be captured to come together and make the last chapter a good one.  When you embrace the concept and understand it is a bridge we are all going over it makes the process much easier!  So have some fun with it and start to share and think about where you want to be on the exit chapter.

I sincerely hope this 4 part series of Goal Planning 2010 has given you a place to start connecting the dots in the Cosmic Cow Pie of life! 

Goal Setting 2010 part 1

Goal Setting 2010 part 2

Goal setting 2010 part 3

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  1. Anna Banana Kruchten, CRS 12/31/2009 11:34 AM
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Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Trisha ~ It is wonderful to love what you do!  Just keep on doin it!

Brian ~ You have wonderful LEGAL points to share!  Thanks for everything you do to help us!

Corinne ~ So happy to hear you are working on the exit plan...it really is a continuous evolution process... Colorado is wonderful.  I still think I am a native.. I guess 49 +or- years of living there.. I can be a native right?

James ~ just putting all the important concepts together helps bring lift together for me.

Joe and Cindy ~  you are welcome.. Happy New Year.

Michael ~ sounds like you are work in progress... that exit plan is part of the entire process.. so identifying it now and working towards your dream for the future is all part of today. 

David and Annette ~ It's fun you should say that.. and if someone is leaving I think they can hold their head up high and just say it did not work out and now they are on plan B.... real estate is NOT a career for everyone.. many people think they can do it but when the rubber meets the road... it is hard for them to step up and produce.

Anna~  Thank you for the feature.. you to missy have wonderful direction to help others!

Frank ~ I am still enjoying a chuckle on the "flying cow pie".... Could be a new twist I try out!  I guess that is what you saw in your mind.. when reading Cosmic Cow Pie... So let's just try and dodge them!  Glad to be of help!

Kyle ~  It has been a long hard pull to get it all together.. but with enough practice.. the concepts are all there and all anyone has to do is connect the dots in the way they want to live their lives!

Keith ~ Happy New Year to you too!

Maureen ~ Happy to create some good project ideas... Exit plan is something we all have to have.. in more ways than one.

Christine ~  I am glad it makes sense... it's hard sometimes to go to the end and then create the steps needed to get there.. but it does work!

Christopher and Stephanie ~ The 10 "ideas"  in the series are really a constant evolving project.. the term goal is kind of last century now... each year we have to do short term work to achieve the long term effect.

Tony~ Happy to help!

Joe ~ Number 10 plays an important part in everything we do!  You are right... many people just put off embracing number 10 for too long!   Money management is a serious problem and is what got us into the mess we are in now with too much leverage.. but I won't go there for now!

Lori ~  Glad you got the series all in one pile!  lol... You don't need to think of retirement as a bad thing... and you really don't have to go there... activity is important..... you just need to plan for a time when the cash flow changes... you don't have to call it retirement... call it whatever you want.. but when someone is in commissioned sales... there could come a time when there is not so much commission coming in and that is what needs to be addressed.  Having the life style choices be in line with the budget!  I used a link to your New Year's post on my New Year's good luck food post!  Thanks.. it was a fun read!

Pam ~ Thank you for all your INFORMATIVE posts!  It is great how we are all learning together!

Jan 01, 2010 06:08 AM #39
Rainmaker
410,659
Christopher Watters
Watters International Realty, LLC. - Austin, TX
Austin Realtor (512-212-1221)

I just finished an extensive vision board for 2010. I hung it in my bathroom. it's this HUGE poster. I wrote a blog about it recently. I never included the exit plan. Thank you for the idea!

Jan 01, 2010 09:25 AM #40
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Christopher,

Vision boards are a great tool!  They really do help you see where you would like to go!  I had a friend who wanted a plane.. and he had it on the visor in his car... HE got that plane!  It was his passion and he worked his plan to get it!   I would love to see your exit plan vision board! Do a post on that one with picture... we would ALL like to see that!

Cosmic Cow

Jan 01, 2010 10:02 AM #41
Rainmaker
610,599
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

Thanks for the post today. 

Patricia/Seacoast NH

Jan 01, 2010 10:45 AM #42
Rainmaker
300,126
Tamara Inzunza
RE/MAX Executives / www.MovingToNova.com / 703-623-8759 - Alexandria, VA
Potomac Yard, Del Ray, Old Town Top Listing Agent

Looking forward to the day when I go to my P.O. Box once a month and pick up my checks...then off to the banks for my deposits!

Jan 01, 2010 12:08 PM #43
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Patricia ~ Happy new year to you!

Tamara ~ mmmmm I think those checks are now direct deposit!... lol

Jan 01, 2010 12:18 PM #44
Rainmaker
1,260,847
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Carra,

Your blog is great with specific steps in setting goals. Thanks. I need to think about my exit plan and then plan my exit!

Jan 01, 2010 12:31 PM #45
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Sybil ~  the exit plan is one that is ever evolving... but one we all have to work on!  Glad to be of help.

Jan 01, 2010 12:41 PM #46
Rainmaker
273,073
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

This is a very good plan Carra. I will look at you previous entries.

Jan 01, 2010 04:33 PM #47
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Tigard ~  It really is just ideas of direction.. everyone has different priorities but this is a place to start your thinking and go from there... Happy New Year to you!

Jan 02, 2010 04:51 AM #48
Rainer
437,789
Terry Chenier
Homelife Glenayre Realty - Mission, BC

Carra,

Continued success in 2010. Jeez! Where did that decade go?

Jan 02, 2010 04:58 PM #49
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Terry,

I saw someone refer to 2010 as 20X and I kind of liked it!  Before we know it we will be at 20 XX or XXXX  now we are X3  lol!

Cosmic Cow

Jan 03, 2010 01:55 AM #50
Ambassador
1,709,615
Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and Evenen Carra

You sure have done a mighty fine series on Goal Setting for 2010. And you've gave folks, fine steps to follow. My exit plan is an easy one, when I'm a taken to boot hill, I'm just not the kind that can retire. I've not even taken a vacation in over 30 years, maybe even longer.

Baker Home Energy Audit/Commercial Properties Inspections Blog Signature

Jan 04, 2010 12:04 PM #51
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Dale,

It sounds like you are doing what you want to do... that is the important thing.. each one is different... Most people really can't just sit around and do nothing... so making a plan to stay active is important... sounds like you are VERY activer and love what you do... Keep on a doin it!  Thanks Dale!

Cosmic Cow

Jan 04, 2010 01:24 PM #52
Ambassador
1,594,589
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Carra Goal setting is very important, you have a road-map to see how you are doing and where adjustment will have to be made. 

Great series.

Jan 06, 2010 02:44 PM #53
Rainmaker
594,786
Lisa Hill
Florida Property Experts - Daytona Beach, FL
Daytona Beach Real Estate

Congrats on the feature! And I have to admit, the words "Exit Plan" got my attention. And yes, they made me a bit nervous! I was happy to read that it was about retirement. And I am in desperate need of some advice in this department!

OK so you know I'm stalking your blog and commenting on all your posts... but now I'm wishing I had done this sooner. You're one smart cookie! I always thought of "the group" as a kind of "play time". Shame on me! In a way, I'm guilty of my own rant accusations! >.<

I'm now going to check out your first parts to this subject.

*puts head down and quietly slips out the back door, in search of other posts*

Jan 07, 2010 03:41 PM #55
Anonymous
Scott Nachatilo

You really put together an excellent series of articles on goal setting.  Loved it!

 

Your point about "describing how your business would be different...[five years in the future]" was excellent.  That really helps to clarrify things.

Jan 08, 2010 01:45 AM #56
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

Jennifer ~ Thank you so much... life is a highway and we have lots of turns!

Lisa ~ glad to be of help, hope you enjoy the rest of the series.

Scott ~ Thank you. looking to the future is an important part of the present. 

Jan 08, 2010 03:47 AM #57
Anonymous
David Carroll

I really liked your series. Whether you goal is retirement or another business to get you out of the grind it is important to plan and set that plan into action.  great post

Mar 14, 2010 03:34 PM #58
Rainmaker
311,292
Carra Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO

David,

Thanks for stopping by!  Planning is one of the most important parts of life!

Mar 14, 2010 06:55 PM #59
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