Most of us love having goals. They can give us a sense of purpose, satisfaction, and a feeling of accomplishment. All in all, goals are a really positive and powerful way of achieving certain outcomes in all facets of your life. However (you could feel a “however’ coming, couldn’t you?), goals can only be achieved under a certain set of conditions and circumstances. Entrepreneurs, in particular, Solopreneurs, can often find themselves in a vicious cycle of setting unrealistic goals which inevitably leads to failure, shame, and self-doubt.
As a business owner, are you struggling to stick to your financial goals and racking your brain as to why? I know that I’ve done this myself and this is exactly what I help my clients with as well. Up until a number of years ago, I was in the same boat. I just could not figure out what I was doing wrong. I was doing “all the things” that financial gurus and income coaches were preaching. I had the spreadsheets, I had the systems, I became self-disciplined. Yet, the proof was never in the pudding. WTF was I doing wrong?
I started to realize that there was so much more to financial freedom and achieving financial goals than filling out spreadsheets, deprivation, and ticking off checklists. We are human beings with real feelings, our own unique aspirations, and desires. Not only that but also our own limitations and capabilities.
Here are three reasons why you may struggle to stick to your financial goals. By understanding them, you break the cycle you’re in when it comes to your finances.
Your Financial Goals: Tip #1
Your Goals Aren’t Aligned With You
How are you determining what your goals should be? It can be easy to get caught up in what others want, think, and are doing, that we can lose sight of what we really want. Comparing your life and goals to others, or taking strong influence from other people’s success will eventually lead to goals not being achieved as they were never aligned with who you are. We often mistake liking the idea of something, over actually wanting it. Social media has played a huge role in all of our lives, whether that is something that you like to admit or not. It’s unavoidable, especially if you are in the online business world.
Don’t pine over a manipulated snapshot into a stranger’s life and ask yourself what are YOUR goals? What would make YOU happy? If you dig deep enough, you’ll see that it was never the life that you love gawking at on Instagram. Listen, and if that does end up being what you really want, go for it. I’m not here to judge.
Similarly, try not to invest too much headspace in the goals outlined and advised by a personal finance expert. Trying to achieve goals that have no emotional elements will be so much harder to stick to. After all, what will keep you going and drive you on in times when the goal seems really hard and unattainable? It won’t be the numbers. It will be feelings and emotions.
Always hold on to the emotional outcome you want to achieve with your financial goals. In my experience with working with clients, you are so much more likely to succeed long-term this way.
Your Financial Goals: Tip #2
You Have Too Many Goals
I’m a lucky gal. Every day I get to work with amazing women who set extremely high standards for themselves and along with that, expectations. It’s really inspiring to see the drive and determination that leads them to success in many avenues of their lives.
The thing with being such a go-getter is that it can lead us to bite off more than we can chew at times (am I ever not making a food analogy?). One massive way to cause self-sabotage is setting really unrealistic financial goals for yourself or setting too many financial goals at once. I get how difficult it can be to prioritize. You want to do it all.
Your journey to financial freedom is life-long. Setting unworkable or too many financial goals at once is going to mean that NONE of your goals are fulfilled. Patience and trust in the process are two aspects of being a business owner that can be really hard, especially at the beginning. These are two very important aspects of your mindset that we could benefit from channeling to improve all aspects of your life.
So, what is the solution? Try to only focus on 1-2 goals in each area you want to improve in. Focus your time and energy on a couple of financial goals. You’ll likely achieve them more quickly and efficiently. Then move on to the next. Narrower focus in one direction gets you farther faster.
Your Financial Goals: Tip #3
You’re Too Focused on Strategy and Not Outcome
Having unwavering and aligned financial goals is vital as you are going to need to refer back to them in times of struggle and doubt. The outcome (your goals) shouldn’t and won’t change. However, the strategy you need to get there might. Remembering to focus on the outcome will keep you pushing forward. Rather than being disappointed that a particular strategy isn’t working. Focusing on the HOW instead of the WHY may lead to feelings of discouragement when you need to pivot, which is inevitable as… Well, life happens. For example, if your goal is to feel more secure then it doesn’t matter HOW you get there as long as you feel more secure at the end.
Your ongoing struggle to achieve your financial goals could have you in a state of feeling defeated, unmotivated, and overwhelmed. However, I know you still must have some hope and faith in yourself. After all, you took the time to read this blog. This just shows me that you are here, showing up for yourself day after day. Let the past be the past and move forward starting today.
Check out the Strategic Savings Guide to help you get started on your quest for financial ease and freedom.
You can also dive into heaps more articles all written just for you. Visit the Bulletproof Blog