Setting goals is great, a lot of people set goals, and then a few people actually review their goals frequently, and then others review, and analyze their progress and readjust goals accordingly. As my friend Ryan Allis mentions in his blog, to review goals, analyze, critique and see how things are going.
So here are my goals again:
- My businesses are generating $10,000/month by Jan 1st, 2008
- BeaverRent is a world class company
- I have multiple streams of leveraged income
- I own/co-own 3 buildings
- I have 100% integrity.
A lot of my friends have set goals, and honestly, most of them never met them, I’m going to do my best to do what others (including some of my friends) do not do, so tomorrow I’ll have, what others do not. Anywas some of my other associates told me they will increase their income by the end of the year, although I haven’t heard much from them on their progress, but I’m moving.
To note on my goals, I have never failed in achieving my goals when I have had my goals written and pasted above my bed, when every night I see them and remind myself of what I’m doing.
I set a BHAG (big harry audacious goal) of generating $10,000/month by Jan 1st, 2008. In 4 months my deadline will be set, that means I need to start increasing my income significantly in the next 2 months.
Where am I now?
- I believe I’m doing fairly well in this category, in no means I’m not blatantly lying to people, I’ve been making my appoints on time and phone calls and been following up with my duties. There are some things however that are important to do, and sometimes there are less important things to do that get pushed aside.
- But I believe I was more soley focusing on the integrity, being a good overall person and just being honest, trustworthy, and someone who could be relied on. I have to say going up 20%+ in efficiency in this area.
- This goal is less measurable.
BeaverRent is a world class company
- We are in process of doing this, things are going better, more world class every day, this still needs some work and basically what we’ll need is more finished processes and systems that run our business.
I have multiple streams of leveraged income
- I think I’ve achieved this in sort, although it could be maximized. Currently have several leveraged income sources, (leverage referring to money leverage, and OPT, other peoples’ time leverage.)
- Owning real estate with a 90% debt leverage ratio is one source of leveraged income
- Having several partners, over five (5) on several projects allow me to focus on one business but have others grow at the same time without me.
I have other investments, but they aren’t really as leveraged. So I do have multiple streams of leveraged income now, I just need to significantly increase the income that they provide.
I own/co-own three (3) buildings (I assume Jan 1st 2008 on this one)
- I already have one
- It is going quite well, I’m in process of doing a deal with two of my friends, one in the military, and another from middle school. We have figured out financing now, we are starting to allocate funds, and we should be on track in owning a property by around November. 1/3 1/3 1/3 ownership.
- I may also in process of purchasing a property in Rochester, New York, this one is an extremely cheaper property at around $43,000 – $73,000 purchase price for a house-duplex. So this one is the cheaper one.
- So I’ll do one in NY, and then the last one with my friends.
- Both are on track, New York has all of my mortgage papers in process, and now I just need to find a buidling.
My Business are generating $10,000/month by Jan 1st 2008
- Now this is the difficult one, I seriously have to re-think my strategy isn’t fast enough. In order to get different results, you have to do different things.
I’m currently a little behind to say the least, but I will pull it off, some how (I’ll find a way, if you think you can, or think you can’t your right.) there is a way, I just need to find it.
My goal is pretty vague, in that my businesses are generating $10,000/month not a personal income of $10,000/month, but the businesses I’m involved with significant ownership (not like shares of apple or nothing) real businesses as myself a majority shareholder, entrepreneurship.
I’m currently around $3,000/month currently. $500/month from my engine websites, $1625/month from rental income, $50/month from hard money lending, and $1000/month from beaverrent.
I’m short $7000/month, all I need to do is what I did two times again. (thats an easy way to look at it)
I’m purchasing the 2nd building with my friends, that should put me around an extra $1,400+month.
A building in New York will estimate me around $1,400/month gross also.
That would leave me at around $6000/month, thats just not enough.
What I’m thinking now, is what I may do is try to be a 4th owner on a commercial real estate property, something over half a million dollars that generates over $5,000/month gross for one building. I’m currently looking at a 15 unit apartment building, I don’t have the money for it, but I just have to find people to work with to invest with me on something like this.
Although I should keep in mind, within another month or two, BeaverRent should be around $1000/month extra.
Ack, exciting, I can’t wait till I accomplish this goal, this will be interesting,
The question to ask, remember, its not “awww I don’t have that much money.”
For wes it is, “Wes…. how CAN I? earn $7,000/month more within the next 4 months.”
I have never failed with my goals above my head, I’ll be damned if I let myself fail, failure is not an option, I’ll try to shoot for an extra $1000/month income by the end of this month, which would put me at $4,000/month passive.
What about your goals, how are doing them? write them down a forget about them? might as well not make goals at all if your not going to review them and follow up on them. Lets make it happen, hey, you don’t want to be left behind do ya.