New Year’s Goals – S.W.O.T. Analysis

Published: January 12, 2021

Before we get too much further into this year, I wanted to share something with you that might help you set yourself up for success over the next 365 days. Now, if you are like me, you started outlining your New Years goals in the Fall, usually somewhere between October and December. So even though my goals have been set up for a couple of months now, I am constantly revisiting, fine-tuning, and even adding to them.

We have all heard of the S.W.O.T. analysis and maybe even used it to assess our own respective businesses (strengths, weaknesses, opportunities, and threats). I have taken this same model and applied it to my goals. Here is what I mean….

Strengths

First we want to look at our strengths from the previous year. Look back on last year and think back to what you did really well. Where did you exceed your goals and expectations? Where did you feel the most confident in your life, your relationships, your business practices, etc.? Write these down in detail. Now, as you are outlining your goals for 2021, keep these strengths in mind and use them where you can. 

For example, if you fostered great relationships with your clients last year, maybe you want to note that in this year’s goals: “Create 500 new business relationships and create a robust follow up plan for existing clients.”

Weaknesses

Now that we have identified our strengths, let’s look at some weaknesses from last year. Where did you feel less confident? Were there any areas of your life or business where you felt like you lacked knowledge, or maybe even felt a bit insecure? Write these down in detail. Now, as you write your 2021 goals out, you may choose to include these weaknesses as areas of focus and growth. 

For example, if you feel that you lacked the ability or knowledge to effectively lead your real estate team, perhaps one of your goals includes ‘hiring a coach to help create a plan for leading and growing the team’.

Opportunities

Next we want to lay out any opportunities that you can take advantage of in 2021. What is happening within your personal life and your business that you can capitalize on this year?  What is happening in the world or your market that you can use to your advantage?

For example, if you paid off your house last year you can now put the funds that you would have spent on your mortgage into a retirement account or a college fund for your kids, or use the funds to purchase an investment property and work on building your net worth.

Threats

Lastly, we want to think about anything that was holding you back in 2020 that kept you from achieving your goals. Did you develop any bad habits? Were you creating negative self talk?  Write these down in detail and make sure that you leave them in 2020. Furthermore, maybe you write down goals for creating new habits to overcome the bad ones.

For example, maybe you watched too much TV instead of going to the gym. Maybe you ate too much junk food instead of following a meal plan. Perhaps you didn’t believe in yourself and kept saying ‘I am not good enough’ or ‘I can’t do this’. Since you don’t want to bring these bad habits and negative self talk into your New Year, maybe you add into your goals “subscribe to a grocery/meal delivery service” and “recite 3 daily affirmations every morning”.

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