By Janet Schlarbaum Capital Management | March 25, 2010
Financial Goal Setting in 2010
Janet Schlarbaum Business Strategies By Rich Strehl
Whether you read this article in the beginning of the year or later in 2010 a great question to ask yourself is “What are my financial goals this year”?
There are so many products and strategies out there from annuities and life insurance to mutual funds and fee based planning. One could argue that one investment option is better than the next one but any solid financial advisor will quickly tell you that it depends on the situation. We are coached by our compliance departments to learn about our clients’ risk tolerance and time horizon before making investment advice. However, one of the main reasons I win clients is because of my ability to help my clients identify and set their financial goals. This is based on the responses I get from my clients who interviewed other advisors before they chose to do business with me.
Stephen Covey says in The Seven Habits of Highly Effective People to “Begin with the end in mind”. I use this strategy in my financial planning practice. Together with my client, we drill down to paint the picture of how they want their retirement to look. Once they begin to feel excited about some of the things they will enjoy during retirement they can prepare to stay disciplined along the way. When you walk past the refrigerator on your way out the door to work and see those pictures of what your retirement future holds it is easier to work harder with greater hope and conviction that you will succeed.
I love working with clients who have a passion for where they are headed. People with a dream and a goal are easier to advise and respond with more enthusiasm to appointments and phone calls.
I encourage you to sit and think about what kind of retirement you want. Talk to your spouse and set realistic goals. Goals should be out of reach but not out of sight. Don’t be afraid to stretch yourself. We tell our kids that they can have and be anything they want in life. In most cases, this is still true of each of us as adults.
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By Janet Schlarbaum Capital Management | March 25, 2010
Goal Setting For Successful Entrepreneurs
Janet Schlarbaum Tips For Entrepreneurs By Mike Cottam
Goal setting is an essential tool for all successful entrepreneurs, but if not used properly, the goal setting process can be frustrating and time consuming. Goals are the end product of all your efforts and work and yet they need to be set before you do anything else.
Some goal setting strategies that can help you succeed in your life and your business are outlined in this article. Read them carefully and you will find that you will benefit in ways that at the moment you can only imagine.
Making your goals “real” is as easy as writing them down. This is the very first step that takes your dream, which up until now, has been floating around in your head, and turns it into something far more real. It may seem like a simple thing, but the act of actually writing down your goals is highly empowering and motivating. Make notes that you can keep close at hand and read them at least twice a day. Focus on them and make them real in your mind and soon they will become your compass, guiding you exactly where to go. The best part is that you get to choose the direction.
As you write down your goals, don’t forget that they need to be balanced for all aspects of your life. Writing down that you want to be a millionaire is all well and good, but personal development goals, such as reading motivating and inspirational books, are equally important. Don’t neglect your own growth as a person. It is important to be clear about all of them to make you a successful entrepreneur.
Once you have clearly written down your goals, the next stage is planning actions that will bring them to reality. You need to plan specific actions that will lead you to completion of your goals. Do not make these actions too big or you run the risk of scaring yourself and not taking any action. It is extremely important that you break down your actions to their smallest possible parts. This way you will find them easily achieved on a daily basis. Also, clearly set time limits to your actions and goals that are realistic and attainable, and hold yourself fully responsible for making those deadlines.
Remember, it is all up to you, so no excuses!
Persistence is the key to your success. Never give up, for it is only possible to fail if you quit. If you persist no matter what, your success is assured. If things go wrong and one of your actions is not working, don’t be afraid to try something else to achieve your goal. Taking action is the only way that you will ever achieve your goals and understanding this is the key to you becoming a successful entrepreneur. It may take longer than you hoped, and you may need to try many different methods, but only those who persist will reap the rewards and realize their final goals.
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By Janet Schlarbaum Capital Management | January 13, 2010
By: Shawn Lim
It does not matter what goals you set and what goals you want to achieve. The main question here is how to set an effective goal that will drive you into taking action. You should know that the main reason most people fail to achieve their goals is because they are not taking enough action or they simply procrastinate. And why does this happen? It is because the goals that they have set are not effective. That is why you need to learn about effective goal setting.
Before you start to set your goal, there is one thing that you must be clear of. It is the reason for you to achieve your goals. You must know why you want to achieve your goals so much in your life. If your reason is not strong enough, you will never put in 100 percent commitment into taking action and hence you will never achieve it. So make sure that you are cleared with what you want in your life before going on.
Now, you can set all kinds of goals, you can set your goals as you want to be a multi-millionaire, you can even set your goal as that you want to be the president. You can achieve any goals you want in your life, but you must make use of these 5 no-fail strategies for effective goal setting. They are…
1. Your goals must be as specific as possible.
The first thing is of course your goals must be specific. The more specific the better, this is because it will be easier for your mind to come out with strategies and steps to achieve them. If you are not specific, it is hard for you to focus in your goals. For example, if your goal is to make $1,000,000 in just 2 years, do you know that there are tons of strategies you can use to achieve this goal? You can invest in stock market; build your own business, through network marketing and more. So be as specific as possible, this is the most basic step for effective goal setting.
2. Set a deadline for each of your goals.
Second, your goals must have a deadline. A goal without a deadline is not a goal, it is a dream. If you say that you want to be a multi-millionaire, when is it that you are going to achieve that goal? Is it 3 years from now? Is it 10 years from now or is it 20 years from now? A lot of people set goals, but they never set a deadline for their goals, and that is why they did not achieve their goals, simply because they don’t know when they are going to achieve them. Remember, put a deadline every of your goals, if your goals don’t have any deadline, it is not an effective goal setting strategies anymore.
3. Your goals must be achievable.
This is a more to practical step. What kind of goals do you set? If you set a goal like you want to earn $100,000, how are you going to achieve it? Make $100,000 is not something that can be achievable. What I mean here is that, you must include your strategies and plans of how you are going to achieve your goals. To conquer the Chinese market is not something achievable. However, to sponsor 3 Chinese everyday in your business will eventually bring you to your goal, which is to conquer the Chinese market. It is the small step that will bring you to your goals. Therefore, always break down your goals into achievable small steps.
4. Develop momentum by taking at least 3 action steps after setting your goals.
An effective goal setting must include developing momentum towards your goals. A lot of people do not know about this, and a lot of them will not do this even if they knew. You have to create the momentum that keeps you going throughout the whole process until the day you achieve your goals. For instance, if your goal is to make $100,000, then you can take action steps like paying deposit for any wealth courses or seminars and you can buy any wealth books to digest as well. By doing so, you are creating the momentum to keep you going. You need to do this every week, and the best will be everyday. Once your momentum is up, nothing can ever stop you. This is how effect goal setting can help you achieve anything you want in your life.
5. Write down your goals and stick it on the wall where you can see it often.
This is an old school strategy. Write down your goals and stick it on the wall where you can see it often. I believe that you know about this strategy, just that you don’t dare to do it. Many people seem like embarrass to tell everyone about their goals. In fact, it is a great step to tell everyone about what you want to achieve in your life. This is because by doing so, you are putting yourself on the line and you will never forget your goals. The more you are reminded of your goals, the more action you are going to take, and thus, the easier you can achieve your goals. So stick your goals on the wall, talk about them all the time and live with them.
If you are following all these 5 no-fail strategies for effective goal setting, I believe that you will feel better about life and you can achieve anything you want with them. All of these 5 strategies are just steps to follow, they are easy to accomplish if you are committed to your goals.
Like what I have mentioned above, you must find out what you really want in your life before you start setting your goals. Once you are cleared with what you want in your life and you why you want it so much, follow these 5 effective goal setting strategies, and you will achieve the things you desired the most.
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By Janet Schlarbaum Capital Management | May 14, 2009
Career risk management
Enjoy! Janet Schlarbaum
Last month’s column focused on the need for those just entering our profession to plan ahead, particularly in regard to their education and the certifications they pursue.
[ILLUSTRATION OMITTED by Janet Schlarbaum]
This month, I want to discuss an equally important topic, one aimed at those of us with a few more years of experience behind us. While it may appear that thinking about where our career is headed is simply for college seniors and freshly minted MBAs, firsthand experience has taught many of us the opposite: The unforeseen can happen at any point in our careers.
Just as we spend time at our respective organizations managing risk–trying to assess and plan for random circumstances and losses–I believe we also must do the same for our own careers, both in how we choose to spend our time and the things we do now to help secure our professional future.
One of the best ways I know to help prepare for unexpected career curves is to invest time in maintaining a professional network. Personally, I am often disappointed when people only contact me when they’re looking for a job or want a reference. One of the first things I think to myself is, “Oh, so now you’re calling me–because you want something from me.” The gap in contact makes it more difficult for me to provide the kind of help they require; it also makes me less likely to go out of my way for them.
Spending time cultivating our professional network is a vital career investment. And it usually doesn’t take too much effort: a few phone calls every so often, an invitation to lunch now and then. Frankly, attending IMA chapter meetings provides a great way to keep connected to your professional colleagues because you get the opportunity to see the same people month after month. Keeping those relationships fresh and up-to-date makes it much easier when a situation arises where you need to activate your network and ask for career assistance.
There’s another aspect of our professional life that should also stay fresh and up-to-date: our job skills. The accounting and finance fields are continually in flux, and so is the technology that supports them. Staying current with the latest trends in management, information systems, and the more technical aspects of our profession helps to ensure that we can adapt when our jobs–or even just job descriptions–change.
The most obvious way to gain this knowledge is through continuing education courses, like the kind required to keep a Certified Management Accountant (CMA[R]) or Certified Public Accountant (CPA) certification in good standing. Don’t think you can rest on your laurels because you once earned these certifications but have now let them lapse. When I interview people who say they’re certified, I always look them up to make sure they maintain active status. Formal professional development courses aren’t the only way to keep abreast of the profession: Business books and periodicals (like the kind you’re reading now) also offer an excellent means to stay informed about industry trends.
Of course no one can predict the future, and that’s especially true in today’s climate of economic change. But working actively at risk management for our own careers can help shore up the investment we’ve made in our professional lives.
I welcome your comments at email@example.com.
Message from the chair
BY FREDERICK E. SCHEA, CMA, CFM, CPA
Janet Schlarbaum Risk Management
Posted by Janet Schlarbaum. Combining her interests in career management, Janet Schlarbaum has turned her likes into her life’s work.
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By Janet Schlarbaum Capital Management | April 4, 2009
Progressive Goal Setting Techniques
Author John Sprague
Brought to you by Janet Schlarbaum
Goal Setting is a necessary component of building wealth in whatever direction we are pointed. If you don’t first have a well defined goal in life, you shouldn’t hope to be very successful at anything you do. This concept can be in reference to whatever path you choose to be part of. May it be school, work or in family life, the requirement is similar. No direction will cause us to be off course and with no landing in sight.
Plan ahead wisely and understand the consequences of taking each day as it comes. You can and should help to determine where you will be five years from now or even ten or twenty years forward. Like in the game of chess, the moves you make now will help to determine who the winner will be later. Don’t get to far off track or you won’t have much to show at the end of the speedway.
After you have locked in your goals, set the plan in place, then it will require a strong determined spirit to produce a favorable end result. You can accomplish this by not quitting prematurely and smoothing out all the roadblocks that you inevitably will encounter along the way. No path is completely free of gravel and rocks. You’ll need to make intelligent decisions along the way, no question about that. In the end, you will do just fine.
“A person without a goal is like a ship without a rudder”- Dennis Waitley
“In the long run, men hit only what they aim at. Therefore, they had better aim at something high” – Henry David Thoreau
“You are never too old to set another goal or to dream a new dream” – C. S. Lewis
“A goal without a plan is just a wish” – Larry Elder
Turn your dreams into a goal setting reality and not just wishful thinking. Make your long term plans now and stick to them until there is a positive outcome. It is just a matter of patience, using an intelligent strategy developed by your own special talents and coupled with your desire for achievement of those goals.
Placed by Janet Schlarbaum
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By Janet Schlarbaum Capital Management | March 30, 2009
Goal Setting and Definition – An Introduction to Lifestyle Design
By Ceena Giselle
Goal Setting is pointless. That is what the people you don’t want to be, tells everyone. The successful people on the other hand, live and die by it and that is already enough reason to believe that it works. I like to call this goal recalibration and I will tell you why in a second.
This stage is the single most important stage in lifestyle design because without this stage, you will never ever start! I define lifestyle design like what you probably think it is. It’s simply designing your lifestyle to the way you want it to be. No fancy explanations, just simple and easy to understand. Know what you really want and more importantly, don’t be influenced by others that want to make that decision for you. This is the foundation of lifestyle design.
Now I want to tell you why I call this recalibration. To calibrate means to correlate the readings with those of a standard. Everyone, you included, already have many goals in mind and those goals are usually “calibrated” to the standards of who you know, what you see and how they want you to be. I want you to re-calibrate your goals to the standards of the “uncommon” people. The successful one’s, the people you envy the most. Recalibrate your goals so that you’d know what is important to you and only you. Do it like how they do it. Find someone you know and look up to and observe them, see what makes them successful at what they do!
So how do you do it? It’s pretty simple actually. Here’s something you can follow right now.
* Close your eyes now and clear your thoughts. Brainstorm personal goals and write them down immediately.
* Impose a deadline. This is important so I suggest you pick 6 months for now. You can change this later on for other goals. Don’t make it too long though because you will lose steam. Remember you crammed before an exam then you still got those high grades? That’s what you want.
* Write your Long Term Goals. These should be finished within the deadline of 6 months. Don’t be worried about how hard they are and don’t over think them. Just keep a positive mindset and stop thinking of conquering the world.
* List your Short Term Goals. Think of what you could do now to start your long term goals.
* Lastly, list down your Medium Term Goals. Without this, you sometimes lose steam and lose track of your goals. Here’s an example. Your long term goal is to be able to fit in that dress of your that your mom gave you last Christmas. So you state that your short term goal is to enroll in the gym and start training to lose weight. Your medium term goal is to lose at least 30 pounds in 3 months. This is like a checkpoint or a big stepping stone towards the milestone. Remember to reward yourself when you finish a medium term goal. This will keep you motivated and positive throughout.
Eventually, when you get the hang of it, you will learn about tracking your progress which is equally important to see where you are at and what you are doing wrong. Do not be afraid to fail, keep working towards your goal and never give up.
In conclusion, simply state your goals and divide them to Short, Medium and Long Term Goals. Write them down and be dedicated to it. Without your whole hearted dedication, you will notice that will stray away from what you need to do and start doing time wasting activities.
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By Janet Schlarbaum Capital Management | February 3, 2009
10 Keys To Personal Goal Setting
By: Steven Gillman
Janet Schlarbaum found this article interesting.
Does personal goal setting work? Many people want things, situations or accomplishments, call these goals, and then are disappointed when they don’t get them. Call desires goals if you want, but just naming your desires sure isn’t effective goal setting. Good goals have some or all of the following:
1. They are specific. “I want to be healthy” is too general. “I want to lose weight and walk three times a week,” is better.
2. They are measurable. How many pounds do you want to lose? How much money do you want to make? How will you know if your relationship is better?
3. They are in writing. There is power in writing down your goals. It makes them more real, and this influences your subconscious mind, especially if you review the goals regularly.
4. They are realistic. Sorry, but even if it is possible that you could become an astronaut, if you’re already 55, you better try for becoming a pilot for now. Unrealistic goals set you up for failure.
5. They have deadlines. You’ll have a new job by when? Setting dates really helps your progress.
6. They become plans. Making a goal into specific steps makes it much more likely. It isn’t overwhelming to take one step at a time.
7. They are motivated. Having the goal for the right reasons is a good start. You should also learn how to re-motivate yourself, and reward yourself when you make progress.
8. They consider personal factors. Can you really get what you want if you feel like you don’t deserve it? Maybe, but good goal setting takes into account personal changes that are necessary or useful.
9. They are followed by action. One of the keys to motivation and to getting where you want to be is to start with any movement towards the goal. Action begets action. Start slow if you must, but start.
10. They are not written in stone. Goals naturally evolve. Why would you become a doctor once you learned that you liked doing lab work better?
The last one is a tough one. An excuse and a change of course are not the same thing, but to know the difference means you need a certain level of self-awareness. Develop that, apply the keys to personal goal setting above, and you’ll get to where you want to be.
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By Janet Schlarbaum Capital Management | January 14, 2009
Why Goal Setting Has Not Worked For You
By: Koz Huseyin
Setting goals is a great way to achieving them! We find only a few percentage of people ever goal set. I am going to make a bold statement that everyone sets goals. However, there are many reasons why goal setting just is not working for you.
Our desires are a key to a successful outcome with our goals. However, the desires that we have can be summarized into a couple of types. These different types of desire can make or break your goal setting efforts.
Often we will chase symbols. We see that nice car, that nice house and we just want it. Perhaps it is to be better than the Jones or you just feel you got to achieve that goal you set yourself.
Achieving any goal is down to the right kind of desire. With the right kind of desire, the seeds come with the fertilizer, and the plant (your set goal) can grow. But, it needs the water. Without water the goal that you have set will never appear.
Conscious desire is that seeking symbols. It is as a child wanting something so bad, and when you finally received it, you wanted something else! This can be thought of as water that is polluted. Often these kinds of desires make goal achievement not possible. The universe, higher power, God, etc always knows your deepest needs and wants, and will only manifest those things which are necessary for your growth.
So, what is the best kind of desire to have, whether you want to achieve financial success, business success, or even a happy life? The desires which come from deep within, those kinds of goals we place on instinct. We just don’t know why we are having that desire. Kind of like the desire is when you have fallen in love with someone. You just have that feeling.
These subconscious desires are great desires to have. When you find them realize that you have gold in your hands. You have a desire which comes from a higher power, God, angels or whatever you want to label that higher power. These kind of desires always come with the necessary resources for there attainment.
When you goal set, these kind of desires can tell you whether you will achieve them or not. Now I am not saying that no conscious desire manifests, they do manifest. Though a simple look at every lottery winner and you will find that even though they attained the conscious desire, it soon vanished as fast as it came in. Often leaving the people one step behind.
You can start living your dreams when you understand the process of goal setting in the right way. Anything you truly desire can come to fruition. All it requires is taking action, as soon as you feel the impulse of that subconscious desire.
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By Janet Schlarbaum Capital Management | October 16, 2008
Article collected by: Janet Schlarbaum
By Tim Whiston
Most of us only focus on goals we believe are realistic, or reasonably within our grasp. But to achieve true success and happiness we must allow ourselves to dream about the things we really want, no matter how big these things might be. This article will help you move past your limitations and focus your energies on your highest goals.
Take just a minute to consider how you want your life to look five years from now. Think about your ideal standard of living.
How much money will you have?
What will you be doing for a living?
Where will you live and what will your home be like?
Will you have a mate or partner, and if so what will he or she be like?
Be as detailed as possible. Visualize every part of your life exactly as you want it to be five years in the future.
Once you’re done, review your vision. Are you allowing yourself to see what you truly want, or are you holding back because of the need to be “realistic”?
Here’s an easy way to find out if you’re being fully honest with yourself about what you want from life five years from now. Do the visualization exercise again, only this time pretend you could wave a magic wand and have things exactly the way you want them.
If you had a magic wand there would be no reason to limit your vision, right? So go ahead and see things the way you really want them to be.
If you don’t like the analogy of a magic wand, pretend you have made friends with a multi-billionaire who is willing to cut you a check for any amount so you can fund your dream life. If this were the case you could have pretty much anything imaginable so let go and really dream up your ultimate life.
Odds are your ideal life situation looked considerably different the second time you did the visualization exercise. By default most of us restrict ourselves when we set goals and/or think about how we want life to be; but it only takes a simple exercise to loosen these restrictions and envision the way we truly want things to be.
Another version of this exercise is to imagine how you would make your life if you were god. In this simulation you are able to cast aside any and all limitations because most people think of god as an unlimited being with unlimited power. Give this one a try and think about how you would create your life five years into the future.
Many times when people apply one of the tactics above they are shocked to see just how much they were limiting themselves before. This can be a great eye-opener that will help you remove limitations and restrictions you have been unconsciously living with.
And these exercises need not be used solely for visualizing the distant future. Five years is a great point for visualization, but you can use these liberating techniques for short-term goals as well.
Instead of setting a goal to lose five pounds, why not look at what you really need to lose and go for it? If you honestly need to lose 12 pounds then make this your goal and be confident you can do it.
Instead of wanting to make an extra $200 a month, why not find the figure that really makes you happy? Set your sights for $500, $1,000, or more!
You are the ultimate creator of your own reality. Science has proven that what appears to be the world around you is actually a series of signals and communications taking place within your brain. So there is absolutely no need to hold yourself back from wanting what you really want.
By Janet Schlarbaum Capital Management | October 12, 2008
Suggested by: Janet Schlarbaum
By Victor Ghebre
Just the thought of those words may make some of you cringe. But it’s time to step up to the plate and really get into the career game.
If you could change your job situation tomorrow, would you do it? If you said yes you are among the thousands of folks who are unhappy or unfilled in their jobs. Maybe you no longer find satisfaction in your career? You may be looking for a job that better reflects your passions and interests and some of you could be just getting into the job force. Stop fighting it, career goal setting is your answer to figuring out all your career headaches.
The fact of the matter is, if you want to uncover a career that is fulfilling you will need do some introspection. As you do this you’ve got to forget about all social pressures and be open to all possibilities; no matter how far they may be from your current position. And of course write it all down!
One of the first steps in the career goal setting process is to determine exactly what it is that you
want from your career. Remember, the career goal setting process is a journey and having a well thought out plan or map to guide you is crucial. But before you lay down your plan you must first do some research, and in this case the research topic is you. This will involve some soul searching to figure out if you are even in the right field or that the career path you are considering is best suited to your interests and strengths.
Here are a couple things to ponder about: If you could do anything what would you do?
What moments in your life bring you the most joy? Be attune to various issues or topics
that you are passionate about. In this state of introspection, let your mind and imagination
run free. Don’t sensor yourself and don’t discredit or do away with career possibilities that seem
silly or out of the ordinary. Discovering true happiness and satisfaction in your career may take
some time, so be patient and be open to taking different paths to get you to your goal.
Effective goal setting involves knowing exactly where you want to go and why. And while
it is important for you to take inventory of all your interests and skills; you must also pay close
Passion plays an important role in maintaining fulfillment in all aspects of your life including
your career. As you think about your future career situation, take your current skills as well
as your passions into consideration when making a decision. That way you will have a larger selection of
career fields to choose from. If you only consider your skills you end up limiting your options.
Once you’ve focused on your passion, take some time to review your strengths and weaknesses. Literally write them all down (even the things your mom says you’re good at!) If applicable, assess the skills you currently utilize in your job. Friends and colleagues may also offer some interesting insights.
Once you’ve done this self-assessment you will have a more clear and vivid picture of what you as and individual has to offer.
For some of you, a self-assessment may reveal that you do not have the skills and qualifications necessary to pursue the career goals that you are passionate about. As part of the career goal setting process you may now need to develop a plan that will allow you to acquire this qualification.