As entrepreneurs, and also individuals, we are all tempted, and sometimes even pressured into setting new year resolutions. However, it’s possible to get demotivated very quickly when things don’t go exactly according to plan.
Over 50% of new year resolutions are forgotten by the end of January. That’s why we have decided to assemble a guide based on Gary Fox’s podcast, ‘The Entrepreneur Experiment’, that we hope will help you get on track and stay motivated in enabling yourself and your businesses to move forward during the year.
In his podcast, Gary discusses systems to make 2024 the year of growth and success. These are clear, concise frameworks that you can apply every single day to achieve your longer-term goals.
There are 2 main elements to the system. These are: Review of 2023 and Plan for 2024. These should not be completed in one session however, but rather should be seen as a living document which can be revisited and tweaked every week, or glanced at daily to keep your mission clear. The following is a brief breakdown of both.
Part 1: Review –
Wins: Start by jotting down 5-10 wins, successes or things that went well in 2023. What were you proud of?
Moments: Write down 5 moments where you were happiest or felt most fulfilled. These can be both big or tiny moments.
Learnings: Similarly, make a list of 5 things that didn’t work out or could have been better in 2023. Make sure to follow up with how you will amend it moving forward, or why it was a bad goal to set in the first place.
Blockages: We all have things holding us back mentally. You know those things that keep you awake at 4 am in the morning. Once you acknowledge them and make a plan to address them, the impact can be transformational.
Quick Fire Questions: This is about brain-dumping your gut reactions. Write 1-2 sentences on each. They will prime you for 2024 planning:
• What was the one thing that held me back last year?
• What would my closest friends or business partners say is my biggest weakness?
• Where did I waste most time this year?
• What excuses did I use in 2023 to not hit my goals?
• Who made the biggest impact on me in 2023?
• Where did my planning not match my real day-to-day life/capacity?
• Where am I happiest/least happy?
• What did I enjoy most/least?
• When were you proud of yourself this year?
• Where and on what did you spend most of your time this year? Was this by design or by accident?
Part 2: Planning –
Step 1: The good news is step 1 is already complete. Every planning cycle must begin with a complete review of the year.
Step 2: Identify the categories you want to work on. For Gary, it’s Business, Body and Brain. These are personal to him and are all about his own goals. You must have things in life that are just for you. Too often people fall into the martyr complex of putting everyone else first and then resenting it down the line. Make decisions about where you spend your time or other people will make them for you.
Step 3: Set 3 primary year-long goals per category and then break those down into quarters, months and weeks. Your goals for each quarter, month and week should be building towards the end-of-year goal. It’s a system that allows you to break the major goal down into bitesize chunks. This is a KEY STEP. Take some time and think this through. This is one of the key defining steps that will shape your entire year.
Step 4: Be realistic & set micro goals for January. The reason most people’s resolutions fail is they set goals that are completely disconnected from their lives. Apply SMART goal setting : Specific, Measurable, Achievable, Relevant and Time-Bound.
Step 5: Be accountable. Find a person or group who you regularly check in with. Apart from setting good goals, this will singularly be the most defining reason for your success or failure.
Step 6: Put everything on your calendar right now. See where your time is going. As humans, we overestimate what we can achieve in a day and underestimate what we can achieve in a year. The goal for 2024 is to have tiny wins every single day that will compound over the year.
Step 7: Once you are locked in, do what Gary refers to as Shut Down and Setups each day. ‘Shut down’ in the evening by reviewing your daily goals and map out tomorrow. This will help shut down your active brain so it knows you don’t need to think about it until tomorrow.
We hope this guide can help you in achieving your goals this year, and every year. We would like to thank Gary Fox for granting us permission to use his podcast episode ‘The Complete 2024 Masterplan Guide’ as inspiration. To learn more about how you can set and achieve your goals, you can hear the full podcast here: Full Episode
