Hey, guys. Naomi Findlay here; Australia’s rapid renovation expert. Happy New Year to you all. I’m actually away on the amazing Coast of New South Wales with my family and good friends to start the New Year.
There’s been lots and lots of talk around the table on what is a great New Year’s Resolution. Now, I’m not a massive believer in just New Year’s Resolutions. I’m a believer in goal setting all around. But the really important thing that I wanted to talk to you about today is the three very important tips that I use when I’m setting goals around my property and my renovations.
The three things that I always consider when I’m goal setting around my renovation is I always make sure, number one, that whatever I’m setting is aligned with my overall strategy. I don’t like just to have goals that are based maybe on a new fad or a new publication that’s come out. I like to make sure that they’re based and perfectly aligned with the strategy that I’m using to govern my renovation business. That’s tip number one.
Tip number two, I always make sure that they’re time bound. I always make sure that not only are they practical and relatively achievable, but I also make sure that they’re within a time period that’s going to push me a little. Remember, if you’re feeling comfortable and you’re inside your comfort zone, then you’re not pushing yourself far enough.
Tip number three – and this is my most important one – is I never try and eat a big, hairy frog all on its own. I always make sure that my goals are broken down.
For example, if you’re just starting out, one goal that so many people try and set for themselves is that they’re going to nail seven properties in the first six months. They’re going to renovate them, they’re going to keep half of them and they’re maybe going to flip the other half. You know what? That’s an amazing goal to have, but it can often impede you getting started because it can just seem too big and too hairy – like a big, hairy toad to eat.
For example, if you’re just starting out – or even if you’re an experienced renovator and you’re wanting to refresh, revive and reenergize your strategy, I like to break them down into much smaller, bite-sized goals.
For example, it may be that within the first two weeks I’m going to have started to work on finding my patch. In the next two weeks, to round out the first month, I might have identified all of the moving and shaking agents that are working in my area. Then, maybe by the end of the second month, I’m going to have become the expert in what I need to do in that space – know what properties are worth, what they’re selling for and what the market expectations are.
You can see that by breaking them down, you could still get to a big, hairy, audacious goal or a big toad that you need to eat at a three or six month period, but make sure you chunk your goals down so that they seem and are completely achievable and it allows you, one to bite them off in good chunk sizes that you can easily chew and digest. It also allows you to look back and go, “Look at all those things that I’ve achieved,” and it will give you much more motivation for moving forward.
There are my three big tips around goal setting when it comes to property. Remember, for those of you who are believers in New Year’s Resolutions, there is still time. For those of you who feel you’ve missed the boat because we’re nearly at the end of January, there is never a better time to set a goal to create a target. Remember, if you aim for nothing, you will get nowhere. Set those targets, those goals, make sure they’re bite-sized, make sure you give yourself a time limit that’s going to push you and enjoy your property, guys. Let’s renovate.