My Blueprint For Setting Goals | Ep 818
In this episode from The Game w/ Alex Hormozi, the host challenges the conventional wisdom around goal-setting. He emphasizes starting goals immediately when recognizing their value, rather than waiting for arbitrary dates.
Hormozi provides a realistic perspective by advising that significant goals often take up to three times longer to achieve than initially anticipated. He suggests carefully weighing each goal's costs against its importance and fully committing to a single top priority. Instead of fixating on the end goal, Hormozi recommends adopting a progress-based mindset focused on continuous forward momentum.
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1-Page Summary
Timing and Kickstarting Goals
Alex Hormozi challenges the norm of waiting for arbitrary dates, advocating for starting goals immediately when recognizing their value. Hormozi suggests diving in right away, such as on December 30th for New Year's resolutions, to begin reaping benefits sooner.
Goals Often Take Longer Than Expected
Hormozi emphasizes preparing for the long haul, as significant goals typically take up to three times longer to achieve than initially anticipated. He advises multiplying the expected timeline by three to set realistic expectations and avoid discouragement from underestimating the effort required.
Balancing the Cost vs. Value of Goals
Recognizing that all goals entail costs - whether time, money, or opportunities - is key, per Hormozi. He suggests carefully weighing each goal's costs against its value and importance.
Pursuing Too Many Goals Risks Failure
Trying to pursue numerous goals simultaneously without sacrificing other commitments is unproductive, according to Hormozi. With finite resources, attempting to conquer multiple domains within the same period leads to failure.
Prioritize and Fully Commit
Hormozi advocates prioritizing the most meaningful goals and making strategic trade-offs to allocate resources accordingly. True commitment involves eliminating alternatives to gain 100% focus on the top priority.
Managing Expectations Around Goal Achievement Timelines
Expect Longer Timelines Than Estimated
Even when tripling the initial timeline estimate, Hormozi cautions that goals often require even more time. He notes a significant gap between a novice's and an expert's ability to accurately gauge the effort involved.
Adopt a Progress-Based Mindset
Rather than fixating on the end goal, Hormozi suggests shifting to a progress-based mindset. Focusing on continuous forward progress, whether closing more sales or getting leaner, keeps one motivated on the path to achievement.
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Counterarguments
- While starting goals immediately can be beneficial, some individuals may benefit from the psychological fresh start effect that arbitrary dates like New Year's provide, which can boost motivation and commitment.
- Tripling the expected timeline for a goal might lead to procrastination or a lack of urgency if the individual perceives too much time is available to achieve the goal.
- Weighing the costs against the value of goals is important, but this approach might lead to over-analysis or paralysis by analysis, where one spends too much time evaluating instead of taking action.
- While focusing on too many goals can be counterproductive, some people thrive on multitasking and may find success in pursuing multiple goals if they are related or if progress in one area fuels progress in another.
- Prioritizing goals is crucial, but being too rigid in eliminating alternatives can sometimes lead to missed opportunities or a lack of adaptability when circumstances change.
- Expecting longer timelines than estimated can be a form of risk management, but it might also set a pessimistic tone that undermines confidence and the drive to work efficiently.
- A progress-based mindset is beneficial, but it's also important to have clear end goals to ensure that the progress is directed and meaningful, and to provide a sense of accomplishment once the goals are achieved.
Actionables
- You can create a "goal activation" ritual to start working on new goals immediately by setting aside a specific time each day, like the first 15 minutes after breakfast, to work on any new goal you've set. This ritual bypasses procrastination and leverages the power of routine to ensure consistent progress.
- Develop a "goal dilation" spreadsheet where you input your initial timeline estimate for a goal and it automatically triples it, helping you set more realistic expectations. This tool can also track your progress and visually represent how the extended timeline unfolds, which can help you adjust your planning and effort allocation.
- Adopt a "micro-milestone" approach by breaking down your goals into smaller, more frequent achievements that you can celebrate. For example, if your goal is to write a book, set a micro-milestone for each chapter outline completed. This shifts focus to progress and can provide a sense of accomplishment that fuels motivation over the long haul.
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Timing and Kickstarting Goals
Alex Hormozi challenges the common practice of postponing the initiation of goals to arbitrary dates such as the new year or birthdays, offering insights on how to begin immediately and manage expectations effectively.
Immediate action over arbitrary timelines
People often procrastinate starting new goals, choosing arbitrary dates like the new year or their birthday to begin. However, Alex Hormozi points out that if the benefits of a goal aren’t compelling enough to start immediately, they won’t somehow become more compelling in the future.
Starting before the "ideal" time
Hormozi emphasizes the importance of diving into goals as soon as they are recognized to be of value. He suggests that if a goal is identified as a priority, starting even on December 30th or 31st for New Year's resolutions can be more beneficial than waiting. The key is to begin working toward the goal right away in order to start reaping the benefits sooner.
Acknowledging and preparing for the long haul
Goals often take much longer to achieve than anticipated, sometimes up to three times longer than people's initial timelines. Understanding this discrepancy from the start can help in setting realistic expectations and ward off discouragement that may come from overestimating how quickly one can meet their objectives.
Realistic timelines buffer against frustration
Hormozi introduces the concept that there are three durations to consider with any goal: the time one wishes it to take, the time one thinks it will take, and the time it actually takes. He advises that, when planning, it’s wise to multiply the anticipated timeframe by three to establish a more ...
Here’s what you’ll find in our full summary
Timing and Kickstarting Goals
Additional Materials
Counterarguments
- While immediate action is often beneficial, some goals may require strategic planning and preparation that cannot be rushed.
- Arbitrary dates can serve as psychological starting points that provide motivation and a clear timeline for some individuals.
- The urgency to start immediately might lead to hasty decisions without proper consideration of the goal's implications or necessary resources.
- Multiplying the anticipated timeframe by three could lead to unnecessarily prolonged timelines and decreased motivation due to a lack of urgency.
- Some goals, due to their nature or external dependencies, might not adhere to the "three times longer" rule and could be achieved in shorter or variable timeframes.
- Long-term dedication is important, but flexibility and adaptability should also be considered, as rigid adherence to a plan can be counterproductive in a changing environment.
- The success stories of companie ...
Actionables
- You can create a "goal ignition" ritual where you start a small, related task immediately upon setting a new goal to build momentum. For instance, if you decide to learn a new language, open a language learning app and complete the first lesson right then and there.
- Develop a "reality multiplier" habit by writing down your goal, estimating the time you think it will take to achieve it, and then tripling that timeframe to set a more realistic deadline. If you think it will take one month to learn a new piece of software, schedule your milestone check-ins and evaluations for three months out.
- Initiate a "long-haul journal" where you document your progress on ...
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Balancing the Cost vs. Value of Goals
Achieving goals comes at a cost and understanding this relationship is crucial for personal development and fulfillment. Alex Hormozi discusses the trade-offs required for setting and pursuing goals, encouraging individuals to carefully consider the value of each goal against its cost.
Achieving goals always has a cost, whether in time, money, or opportunity. This cost must be carefully weighed against the value and importance of the goal.
Hormozi suggests that all goals have a "price to value" relationship and that each goal comes with its own set of trade-offs or opportunities that one might miss out on. He emphasizes that life is about making trade-offs and that pursuing all goals at once can result in sacrificing others. Being realistic about the time, effort, and money available is essential, as goals often are more expensive to achieve than initially thought.
Trying to pursue too many goals at once without cutting back on other commitments is a recipe for failure, as there are only so many resources to go around.
Hormozi mentions that attempting to fit new goals into an already full schedule results in failure as the additional workload becomes unmanageable. He suggests listing out goals, estimating the time each will take, and then multiplying that by three, allowing for appropriate sacrifices to manage the time effectively. He points out that resources are finite, and it's unlikely to conquer multiple domains within the same year.
Prioritizing the most important goals and making strategic tradeoffs is crucial for actually accomplishing meaningful objectives.
Hormozi stresses the importance of allocating time and resources to the most important goals to gain the highest returns. By recognizing your budget in terms of time, effort, and financial means, and deciding which goal is most important, one can more closely align with their vision of the ideal self they wish to become. Hormozi talks about personal sacrifices, sharing that he gave up activities like watching Netflix and playing fantasy football to expand his business, noting that these activities often have no meaningful long-term impact comp ...
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Balancing the Cost vs. Value of Goals
Additional Materials
Counterarguments
- While prioritizing goals is important, some individuals may thrive under a portfolio approach, where they balance multiple goals simultaneously, drawing energy and motivation from the variety.
- The concept of a "price to value" relationship can be subjective and vary greatly between individuals, making it difficult to apply universally.
- The idea that pursuing multiple goals leads to failure doesn't account for the possibility of synergistic goals, where progress in one area can positively affect another.
- The recommendation to multiply the estimated time for achieving goals by three may not be applicable in all situations and could lead to excessive time allocation, potentially causing procrastination or mismanagement of resources.
- The notion of fully committing to one goal and eliminating all others may not be practical or desirable for everyone, as some people may find fulfillment in pursuing a balanced life with diverse interests.
- The assertion that activities like watching Netflix or playing fantasy football have no meaningful long-term impact is subjective and dismisses the value of relaxation and leisure in maintaining mental health and creativity.
- The idea that focus is about saying no to many things can be seen as overly restrictive and may not take into account the benefits of be ...
Actionables
- Create a goal filtration worksheet to visually assess the value of your goals against their costs. Start by listing all your current goals and next to each, write down the estimated time, money, and opportunities you need to sacrifice for each. Then, rate the importance of each goal on a scale of 1-10. This will help you see which goals are worth the investment and which might need to be dropped or postponed.
- Develop a "goal investment plan" by allocating weekly time blocks to your top priority goal. Use a calendar or planner to block out specific times each week dedicated solely to your most important goal. Treat these time blocks as non-negotiable appointments with yourself, ensuring that you're investing in what matters most without overloading your schedule.
- Conduct a monthly "goal audit" to evaluate ...
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Managing Expectations Around Goal Achievement Timelines
Alex Hormozi provides insight into effectively managing expectations around the time and effort required to achieve significant goals.
Even when accounting for goals taking 3 times longer than expected, the actual timeline is often longer still.
Hormozi advises that one should expect goals to take longer to achieve than even their most conservative estimates. He relates this to his own experience where, after five or six years into his journey, he found that achieving his goals took much longer than he planned. Goals, he warns, typically take even longer than the already extended expectation of three times the initial estimate.
Experts in a field typically have a much better sense of how much time and effort is truly required to achieve significant goals compared to novices.
Hormozi points out that there is a significant difference between a beginner's and an expert's ability to estimate the time needed to achieve a goal. Experts can see the sub-steps involved in a process, such as the intricacies of running effective advertisements, while beginners tend to see things in binary terms of success or failure.
Shifting the focus from outcome-based thinking to progress-based thinking can help maintain momentum and avoid discouragement.
Hormozi emphasizes the importance of progress-based thinking, suggesting that as long as one is moving forward, whether it be in getting leaner or closing more sales, they are on the right path to achieve their goals. He suggests focusin ...
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Managing Expectations Around Goal Achievement Timelines
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Clarifications
- When it's mentioned that goals can take three times longer than expected, it means that the time and effort required to achieve a goal are often underestimated. This concept highlights the importance of being prepared for delays and setbacks in goal achievement. It suggests that individuals should factor in extra time beyond their initial estimates to account for unforeseen challenges and complexities in the goal-reaching process.
- Experts in a field tend to have a more accurate understanding of the time and effort required to achieve goals compared to beginners. This is because experts have a deeper knowledge of the intricacies and sub-steps involved in the process, allowing them to make more informed estimations. Beginners, on the other hand, may oversimplify the task, viewing it in binary terms of success or failure without considering the nuances. This difference in perspective can lead to significant variations in time estimates between beginners and experts.
- Progress-based thinking focuses on acknowledging and valuing the steps taken and the improvements made along the way towards a goal. It emphasizes the journey and the effort put in rather than solely fixating on the final outcome. In contrast, outcome-based thinking centers on the end result or achievement of the goal as the primary measure of success, often overlooking the incremental progress and learnings gained during the process. By embracing progress-based thinking, individuals can stay motivated, maintain momentum ...
Counterarguments
- While goals often take longer than expected, rigid timelines can sometimes be counterproductive, creating unnecessary pressure that can lead to burnout or a decrease in quality of work.
- Experts may have biases based on their experiences that could lead to overestimating the time and effort required for goal achievement, potentially discouraging innovation and risk-taking.
- Progress-based thinking is valuable, but without clear outcomes, there's a risk of losing direction and focus, which can lead to inefficiency or a lack of purpose.
- Focusing on one goal at a time might not be feasible or effectiv ...
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