Did you hear about the guy who achieved something without a goal? Neither did we. Without an end destination in mind, you have no idea where you’re going.
But not all goals are created equal. Most goals are really bad. They’re not bad because they aim for bad outcomes; they’re bad because they only focus on results.
“I’m going to be the top wholesaler in my city.”
“I’m going to become a millionaire and take care of my family.”
“I’m going to land higher quality deals!”
This is what a typical goal looks like. And while the end goal isn’t bad, they’re missing one key thing: a plan for getting there.
Even if you have a great goal, you won’t get far without a plan. A well-developed goal is like a GPS. It shows you how to get to your destination and helps track your progress. Without it, you’re going to get lost very quickly.
Thankfully, building a better goal is easy. It’s called a SMART goal, and it meets five simple criteria.
A SMART goal is:
And with BatchLeads, you have the tools you need to create and track SMART wholesaling goals. So to help you get started, we’re going to explore each part of a SMART goal and build one together so you can see how it’s done.
So let’s get into it!
The biggest problem with the three goals above is that they aren’t specific at all.
What does it mean to be the best wholesaler? What’s a high-quality deal? How will you know when you’ve landed one?
There are so many things these goals could be about. If you haven’t specified them, you’ll have difficulty getting started or staying on track.
So let’s take the goal of high-quality deals.
To make it specific, we need to define what we’re targeting. A particular goal would look like this: “I will land more deals with a margin potential of at least $10,000.”
Do you see the difference? The original goal was vague. We had no idea what we were trying to do. But now we know exactly what qualifies for our goal and what doesn’t.
Here are a few other examples:
- “I’m going to call more leads.” VS “I’m going to call more pre-foreclosure leads.”
- “I’m going to do more in-person outreach.” VS “I’m going to knock on doors on Main St.”
- “I’m going to do a wholesaling course.” VS “I’m going to buy the wholesaling course from [Insert Name Here].”
A specific goal gives you a clear target. Then you can get to work.
So how can you use BatchLeads to create specific goals?
Go to the List Search tab or the Properties tab in BatchLeads and look at the Quick Filters. Pick a filter and find out how many nearby properties fall under it. Then pull the list and start reaching out.
In less than 5 minutes, you’ve created a specific goal.
If you want to get even more niche, you can use Advanced Search. They’ll give you personalized lists based on whatever criteria you decide. Your goal is even more specific, meaning your work is even more focused.
Once you’ve made sure your goal is specific, you have to be able to measure it.
Instead of trying to land “more deals” for our goal, we need a number to focus on. How many deals do we want? Our goal becomes “I’m going to land ten deals with a profit margin of $10,000 or more.”
Now we know exactly how many deals we need to land! Before we made the goal measurable, we didn’t understand what reaching our goal looked like.
Here are a few more examples:
- “I’m going to call more pre-foreclosure leads.” VS “I’m going to call 50 pre-foreclosure leads.”
- “I’m going to knock on doors on Main St.” VS “I’m going to knock on the door of every distressed property on Main St.”
- “I’m going to buy the wholesaling course from [Insert Name Here].” VS “I will do one lesson a day from [Insert Name Here]’s wholesaling course.”
If you want to set measurable goals, BatchLeads can be a huge help. Here’s how:
Quick and Custom Filters
Quick Filters and Advanced Search will show you the number of properties in your area that meet your criteria. Knowing how many are available makes it easy to set a measurable goal.
Property Activity Tab
We recently released a feature that tracks all your actions related to each property. You can track precisely what you’ve done and what you still need to do. You can find this tab in the Details section of any property.
Saved Properties List
Your saved Property Lists let you keep track of your work and the properties you’re interested in. Plus, BatchLeads automatically updates the data, so you’re never working with stale info!
This one seems obvious, but your goals have to be attainable. If you’re aiming to be the top wholesaler in the world in your first month, you may need to look at how reasonable your goals are.
When you set unattainable goals, you hurt your progress in two ways:
- You’re dooming yourself to failure.
- When you fail to meet your goal, you’ll feel demoralized.
Attainable goals, though, will energize and excite you:
- You know it’s possible to achieve your goal; all you have to do is work for it.
- If you don’t achieve your goal, you have the chance to figure out why and make changes.
Don’t set goals that are too easy, though. If your goal is to make one cold call a month, you’re probably setting your sights too low.
To make an attainable goal, look at your resources and figure out what’s realistic. For most people, that won’t be “I’m going to land 50 deals with a margin potential of over $10,000 this month!” Give yourself a challenge, but choose something you can achieve.
The next part of a SMART goal is that it has to be relevant. While this also seems obvious, it’s easy to pour effort, time, and money into projects that don’t add to your goals.
Make sure your goal contributes to where you want to end up. It should also be appropriate for the market, the time in your life, and the size of your business.
Let’s look at our example goal. We don’t want to target properties that will give us a low margin potential. But we also don’t want to set a goal that requires deals that don’t exist in our area. Creating a relevant deal will require some research.
So use BatchLeads to look at the properties around you. Custom filters, MLS Sold Data, and Comps will show you what’s available in your area. With this information, you can form a goal that makes sense for you.
Time is the most critical part of a SMART goal. Without a deadline, the rest of your goal doesn’t mean much. Because let’s be honest, most of us aren’t very disciplined without deadlines.
So to complete our goal, we need a time limit. We’ll be generous and give ourselves a year.
Our goal looks like this: “I’m going to land ten deals with a margin potential of $10,000 or more this year!”
Now we’ve made our goal specific, measurable, attainable, relevant, and time-based! We have a destination and a path we can follow to get there!
Remember, you don’t have to rush, but you have to set a time limit. It’s as essential to staying on track as measurability is.
So can you use BatchLeads to set deadlines? You actually can!
On the top-right side of your screen, you’ll see a calendar icon. Clicking it will open the Task Manager. Here you can assign tasks and receive reminders through email or SMS. You can also switch between calendar and list view to choose the best layout for your work style.
This way, you won’t have to juggle 3rd-party productivity apps that end up distracting you. Everything you need to track your goals is in BatchLeads!
Not all goals are created equal. Goals without a built-in plan will distract you more than they’ll help you. They’re daunting, unclear, and usually unattainable. But when you use BatchLeads to set SMART goals, you’ll be ready to get started, stay focused, and find success.
And since we’re so passionate about seeing wholesalers succeed, we have a special gift for you!
We’re giving you a free 7-day trial of BatchLeads to help you start setting and achieving some SMART goals today!
We’re even including 5,000 free property records with your trial so you can get started without paying a penny!
All you have to do is click here and register now!