goal setting theory

Goal Setting Theory

There are many ways that we can set goals. The way we choose a goal setting theory completely depends on our ambition and our mentality.

There are three particular ways which are very popular in the world of personal development. You can see how each goal setting theory has been dissected below.

Goal Setting Theory Number 1: The 10X Rule

You may have heard of The 10X Rule. The 10X Rule is a book that was written by the world renowned sales expert, Grant Cardone. The theory simply states that most people fail to live up to their full potential. You can argue that this approach encourages the reader to shoot for the stars as the worst case scenario would be to land on the moon.

Step 1: Multiply your original goal by 10. If you wanted to be a million air, aim for 10 million. If you wanted a five bedroom house, work as though you’re buying a 50 room apartment building.

Step 2: Multiply the perceived actions it would take to achieve step one by 10.

Pros

This goal setting theory is perfect for you if you are highly motivated, ambitious and have a disliking for calculating metrics too frequently.

Cons

This approach is not for you if you are easily discouraged or if you work well with a deadline.

Goal Setting Theory Number 2: The Dream Line

We’re going to walk away from the hustle mentality and dive into one of the most popular theory’s out there. In his iconic book, The 4 Hour Work Week, Tim Ferris uses a 3 month checklist that he calls his “Dream Line.” These are lists of items to own, experiences to have and personal development achievements that one may wish to achieve.

goal setting theory

Pros

The Dream Line offers short term gratification. Furthermore, it shows you how to financially back each achievement.

Cons

The Dream Line does not teach long term gratification for a single cause. E.g. the number of people one may impact or financial income. However, the Dream Line May provide this feature if you plans your goals practically.

Goal Setting Theory Number 3: The One Thing

The One Thing is one of my favorite books and it was written by Real Estate tycoon, Gary Keller and his partner Jay Papasan. It places emphasis on the focusing question…

“What’s the one thing I can do, such that by doing it everything else will become easier or unnecessary.”

The book teaches its readers to make a ten year goal and to work backwards from there. Simply answer the following questions…

  1. First of all, what do I want to achieve in 10 years?
  2. Secondly, what do I need to achieve in 1 year to reach my 10 year goal?
  3. Another, what do I need to achieve in 1 month to achieve me 10 year goal?
  4. Also, what do I need to achieve in 1 week to achieve my 10 year goal?
  5. Finally, what do I need to achieve in 1 day to achieve my 10 year goal?

Pros

This goal setting theory is incredibly handy as it provides you with a logical way of managing your time and priorities.

Cons

You may find that this theory can be monotonous. However, Gary Keller once said “most people can’t handle the monotony it takes to be successful.”

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