It is important to me to review my performance monthly, quarterly, and yearly. During these reviews, I am looking for my progress in my career, business, and personal life.
My ultimate goal is to climb the corporate ladder as quickly as I can with integrity during the years I am in a corporate setting. In my goals I lay out the level and salary I desire. This means I may need to step outside my comfort zone and take on new roles and responsibilities. I have done this several times and have no problem doing this. During my review of my performance, I am looking to see if I am moving along as quickly as I thought I would. To hold myself accountable, I write down my goals by January 1st of each year. My goals may be adjusted slightly based on progress for the prior year.
My performance review on my business and investments are also based on the goals I write down every January 1st. My main focus is growing my business by expanding our customer base and creating more value for the customers. We have not reached a point where we feel the need to focus solely on cost savings because we have not reached a volume that justifies this. If I am not hitting my targets, then I am going to look for immediate corrective action and hold myself accountable for it.
This section is a little bit less strict, but is also very important to my overall success. For example, I have an idea of when I want children, want to further educate myself, and pay off debts as quickly as I can. Each of the goals I have in this section are well defined and matched up with quantitative metrics to help me understand if I am on track or not. If your goal criteria is too subjective, you can easily fool yourself into thinking you are meeting goals, even if you really are not. For example, if you say you want to get into better shape, you may say you did, but how do you know? Hold yourself accountable by including weight goals, body fat percentages, or any other quantitative data that makes you own it.
When it comes to financial goals, they are included in each of the sets listed above. I am looking to hit certain financial goals in my career, business, and personal life each year. It is crucial I list these out to review monthly, quarterly, and annually. Monthly I may not go into super in-depth detail, but I am looking for the gist of how I am doing. Quarterly I go into deeper detail and annually I dig all the way down. It is during my annual performance review to understand what has been done and what needs to be done to reach my goals next year if I missed or improve if I was on target.