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 2016.
Goal #1: 28,000 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. In 2016, I miss my income goal that I had set for the year, mainly because I just focused on making 'more' of the same, which lead me to missing my income goal but also to nearly burning out several times during the year.
This year, I decided to do things differently. First, I decided how much I wanted to make during the year. Following my online empire model, I decided that I would need to make 14,000 of revenue per month to fuel my investments, that will then pay for my lifestyle expenses like rent, food, travels, and so on. Then, I just doubled that number. Why? Because I learned last year that if you just work to reach your goal, you will just end up near that goal, or just reach it. However, if you set a much higher goal, even if you don't reach it, you'll be in a much better position as you will exceed what you planned in the first place
Setting an ambitious goal will also force me to think in a completely different manner. I know I won't reach this goal by just putting more hours in. I am already working 8+ hours every day of the week, and I can't double or triple that. So it will force me to put systems in place in order to scale, which is the only way to reach this goal.
Note that as usual, this is only the gross revenue of my business. In my calculations, I assumed a 20% business expenses, which is actually double of what I spent during the past year.
Goal #2: 400,000 Euros and/or 4000 Euros/month of Investment Income
I definitely ramped up investing in 2016, as I sold a piece of real estate that I owned for a while (and that was giving me a lot of trouble with tenants). I then reinvested everything in my favourite investments: dividend-paying stocks, real-estate crowdfunding, Peer-to-Peer lending, and profitable websites. In the process, I made my portfolio nearly 100% passive, and I also doubled the income coming from my investments.
In 2017, I want to continue this process. I want to fuel my portfolio with the income of my online business, and then use the cash produced by those investments to pay for my expenses. Therefore, I want to reach either 400,000 Euros in invested money, or 4000 Euros per month of investment income. For the first time, I also set individual goals for each of my investments:
- 134,000 Euros in crowdfunded real estate & REITs
- 144,000 Euros in dividend-paying stocks
- 44,000 Euros in profitable websites
- 78,000 Euros in Peer-to-Peer lending
Goal #3: Sell My First Physical Product
This year, I also want to sell my physical product on one of my websites. Since watching shows like Shark Tank or the Profit, I've become really interested by the whole process of building a product, calculating the costs, margins, and then distributing & selling the product.
I know this is something that could be done in less than a day with a good sales page and some Facebook ads - but I want to make it right. I don't know yet if it will be a product that I will sell to an already existing audience (would be the easiest way), or if I will create a brand new site for that, but 2017 will definitely be the year I sell my first physical product.
Goal #4: Travel to at Least 4 Conferences to Meet Like-minded People
This is a goal which I completely failed (again) to achieve in 2016. This year, I will achieve it by being proactive and booking plane tickets/conference tickets whenever they become available so I have no excuse not to go. I didn't make a list yet, but again I am thinking about going to conferences like MicroConf Europe and the Web Summit.
Goal #5: Read 24 New Business Books
This is a very important goal for me, as I wouldn't be there without all the books I've read. Until I achieve this goal and it becomes part of my normal routine every year, I'll set it again for this year: 2 books a month, for a total of 24 new books read in 2017.
Goal #6: Reach a Bodyweight of 82kg While Keeping my Body Fat Below 20%
Last year, I finally managed to take some weight and reach 82kg while keeping my body fat at the same percentage. This year, I want to stay at this weight of 82kg, but also reduce my body fat to under 20%. I haven't set my strategy yet to reach that goal, but it will probably mean first reaching 86-87 kg with my current body fat, and then loose body fat till I reach the 20% level.
This is it for my goals in 2017! I’ll also be publishing the usual monthly income reports, as well as quarterly reviews of my goals to keep myself accountable. Have you also set goals already for 2017? If yes don't hesitate to share them below! I am sure 2017 will be the best year ever!