Every year I publish a list of all the goals that I set for my business, my investments and my health for the coming year. This doesn’t list some of my other more personal goals that I am keeping private. I detail every goal that I want to reach before the end of the coming year.
I do this to keep myself accountable on this website, and also to show you the process and thoughts behind each of my goals. If you want to read about what happened to my goals of last year, you can read my review of 2015.
Goal #1: 8000 Euros/month of Business income
As usual, I use income as the main goal of the year, as it allows me to track the health of my business. After reaching my income goal last year, I wanted to set myself a bigger challenge for this year.
Note that those numbers are not made up: I am using precise calculations of my Target Monthly Income as defined by Tim Ferriss in the Four Hour Workweek. I basically calculate how much my target lifestyle would cost me, and then I factor in how much income do I need to reach this income, including taxes & how much money I want to save/invest every month.
As my income coming from investments alone are becoming significant, I separated business & investment income for this year’s goals. I also want to reach this level of income while keeping the profit margin of the business above 80%, so by having a maximum level of expenses of 20% of the gross business income.
Goal #2: 3000 Euros/month of Investment Income
2015 was definitely the year when I started to seriously invest money. I invested in my first dividend growth stocks, in real estate crowdfunding, and in Peer-to-Peer lending. I even created several websites to share my experience: Dividend Academy, the Digital Landlord, and Smart Peer-to-Peer lending.
The year will start by the sale of an apartment that I owned for several years, and I will reinvest all of the money in more profitable investments. This alone will boost my investment income, and I plan to reach the goal of 3000 Euros/month of income coming from investments alone this year, allowing me to finally reach financial independence!
Goal #3: Build a Solid Team of at Least 5 Persons
This is the one goal where I completely failed at in 2015. I started building a team way too rapidly, and then had to cut back my team as I couldn’t manage everybody. I now have a strong core of 2 people that I regularly work with, one virtual assistant, and one podcast editor.
This year, I plan to add at least one video editor, two writers, and maybe a web application developer for a total of at least 5 people in my team.
Goal #4: Travel to at Least 4 Conferences to Meet Like-minded People
This is another goal which I completely failed to achieve in 2015. At the end, and due to pure procrastination, I only traveled to one conference, which wasn’t even a good fit for me.
This year, I want to visit at least 4 conferences to meet other entrepreneurs & investors. I didn’t make the final list yet, but I am thinking about WordCamp Europe, LendIt Europe, MicroConf, and at least one Bitcoin-related conference.
Goal #5: Read 24 New Business Books
Books are a key component in everything I achieved in life. I would never have started my online business adventure without readings books. Last year, I managed to read one new book every month. This year, I want to go even further and read at least two new business-related books every month, so 24 in total during the year.
Goal #6: Reach a Bodyweight of 82kg While Keeping my Body Fat Below 20%
This is definitely the year where I’ll make even more progress at the gym. I managed to nearly reach my goal of 77kg for last year, even as I thought for a long time that I’ll be stuck for life under 75kg. This year, I want to push it even further and reach 82kg while keeping my current level of body fat.
This is it for my goals in 2016! I’ll also be publishing the usual monthly income reports, as well as quarterly reviews of my goals to keep myself accountable. I am sure 2016 will be the best year ever!