Each year I have some goals that I personally make to myself. However, I never really write them down or honestly work that much harder to acheive them. I think they are just goals that are put into my head and if I reach them great, if not, no big deal.
I think part of it is because a monetary goal is simply a number and that if I miss it by a few thousand, it’s really not a big deal. So what’s the big deal about setting it. I mean if I set a goal to make $100,000 and end up with $95,000, should I feel bad that I missed my goal? Could I have worked harder and made an extra $5,000?
The truth is I probably could have. The but cost of the $5,000 is probably not worth the effort. It’s like trying to squeeze the last 5% of juice out of an orange. Yes, you do get it, but it was alot more work than the first 95%.
One of my friends likes to set goals. In fact, he placed a $1,000,000/yr goal by end of 2013 and I think that he will easily reach it. We always talk about goals and businesses. A few weeks ago he asked me if I had a goal. I quickly jotted down some numbers and came up with a realistic goal. The problem with a realistic goal is that you don’t have to work extra hard to achieve it. I mean it’s realistic so you should hit it doing what you’ve been doing right?
So I bumped the goal up by an amount that I think is possible but also difficult to attain and suprisingly the number was pretty big. And to even have the number in my head without it being outrageous was sort of crazy.
But we know my thoughts on actual goals. What’s the big deal?
Well, I decided to sell my SL500 last week. It’s about time for a new car. Everyone knows I love cars and I came across a car that I’ve always wanted but really never thought I would be able to get. It is a Ferrari 360 Modena Spyder. Looking at Cars.com I realized just how much they have dropped in price. A 2003 model can be bought for around $80k. Before this car was always in the $140k range and to me there was no way I would consider it. But $80k sounds more palletable. It’s like buying an expensive SUV!
While I do love cars, spending $80k on a car feels a little bit irresponsible to me. Especially on a car that may cost $10k a year to maintain. However, it is a car that I’ve always wanted and it would make me push to achieve my goal. I mean if the car goal pushes me to make an extra $80k a year, then it’s a worthwhile pursuit right?
So I’m going to put it in writing that if I do make my goal for 2011, I will buy myself a 360 Modeno Spyder. I feel silly even typing this, because it’s something that a 25 year old kid would say. I am also hoping that they will be only $70k by next year.
So the goal I will need to hit in order for me to feel “OK” in buying something like this is $200,000 in online profits for 2011. There I said it and wrote it down. Now it’s go time.