COACHING CORNER WITH PHIL LECHTER – CREATING GOALS!

Excerpt from: Global BANK Academy Newsletter 9.7.2014

This weekly feature on coaching is from our rock star Vice President, Phil Lechter. Phil has a tremendous background in coaching, beginning with the Rich Dad organization over 14 years ago and stretching into creating his own business coaching firm.

Goals are just a wish or a dream until you write them down.  According to a Harvard Study, only 3% of those surveyed actually wrote down and track their goals.  Lets choose to be part of that 3%.

A great way to make your goals more powerful is to use the SMART acronym.   This acronym is so powerful that it has multiple words that fit:

  S – Specific (or Significant).
M – Measurable (or Meaningful).
A – Attainable (or Action-Oriented).
R – Relevant (or Rewarding).
T – Time-bound (or Trackable).

For example, instead of “I want to lose weight” as a goal, it’s more powerful to say “To have achieved my ideal weight of 125lbs by December 31, 2014.” Obviously, this will be attainable if a lot of preparation and dedication has been completed along the way!  Once you have a Goal Statement it is imperative that you then create your CONSISTENT & REPEATABLE ACTIONS (CRAs)?

CRA’s are the lifeblood of achieving your goals.  These are the types of actions that when done right can be used to predict the results.  Yes, the Key to CRAs is that they will allow us to predict results. Let’s take a simple example.  In the case of weight loss, we can influence and predict the outcome with a combination of calories in (eating healthy) and calories burned (exercise).  So when we measure the amount of calories we eat and the amount of calories we burn through exercise we can predict how much weight will be lost.  The more precise our CRAs, the more predictable our results.  In sales, when we know that we close on average 20%, and we want to close 1 sale a week, we know we need to be in front of 5 people a week.  The CRA is then to present to 5 people a week.

For more information about GLOBAL BANK ACADEMY please visit:http://www.mybankcode.com/lechter

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