I have finally decided to join the world of bloggers, blogging about my life and my business. My purpose for this blog is to set goals for our new year, 2011, and track my progress as I work to achieve these goals. My hope is that through these posts, you will find some content inspiring and encouraging. Additionally, I hope that you, my readers, will help me stay on track with my goals and encourage me!
My intention is to make regular posts (at least one per week) to keep you up to date with my happenings and progress. Lindsay has committed to staying on top of me to ensure that I do just that. I know that I am not the greatest writer (Lindsay is excellent) but I will strive to do my best. I really wanted to do this last year, but never had enough motivation to get it started.
So, without further ado. . .
It is a new year, 2011 and like most everyone else I am developing my "New Year's Resolutions!" I never have liked to the word "resolution" because as soon as someone resolves to do something, all forces of nature seem to try to work against that resolution. Just like Paul said in Romans 7:15, "I do not understand what I do. For what I want to do, I do not do, but what I hate I do." So, instead of a resolution, I am setting goals. More or less I'm saying this is the direction I want to go. This is what I am going to measure my progress by! I have separated my goals into three different categories, Business, Personal, and Spiritual.
Business Goals
1. Our business has approximately $15,000 in unsecured debt. This debt is a combination of credit cards, unpaid real estate taxes, and other loans that we incurred to get our business off the ground. It was my goal in 2010 to completely eliminate these debts. Only, this time last year the figure was $20,000. In August 2010 were were fairly close to reaching that goal; however, the last half of 2010 were really tough months and we ended up once again carrying balances on our business credit cards to repair and re-rent properties.
2. After paying off the unsecured debt, I would like to begin building cash reserves for the business. By the end of the year I would like to have put $10,000 in the bank that I do not touch for investments! This money will be our emergency fund, a layer of security.
3. By the end of the year, I would like to have increased our cash flow by $2000/mo.
4. So far I have been most comfortable investing in residential real estate (mostly single family homes). Although I have looked at many apartment buildings and commercial real estate and even made offers, Lindsay and I have never added an apartment building or any commercial real estate to our portfolio. I would like for this to be the year we step out of our comfort zone and make that change. I would like for half of my goal of increasing my cash flow by $2000 to come from acquiring either an apartment building or commercial real estate.
5. Lindsay and I currently own or partially own three separate LLC's. Part of our asset protection and tax strategy plan require us to start a Nevada holding company (LLC) and either a C or S corporation. It is my goal to complete our structure by adding the Nevada holding company and a corporation this year.
Personal Goals
1. Build deeper relationships with my wife and children and constantly encourage, nurture, and point them towards a deeper relationship with God. I really do not know how to measure this goal, but it is very important to me.
2. In the last few months I have developed a system in our house that Lindsay and I refer to as the "point system." I developed this system because Lindsay was struggling to train our children to be more efficient and do things in a timely manner. I did not know how to support and lead her through that process when I had to work during the day. Also, I felt that in an effort to train our children, I was always threatening them and putting the fear in them of negative repercussion and corrective action. My theory was to train them through their desire to achieve something positive. So, I took the problem and stressful situations (mealtime, getting ready to go swimming, going out in public places, etc) in our lives and created a "plan". As long as they follow the "plan" they get a point. If they do not follow the plan, they do not get a point and there are defined boundaries when corrective action does take place. At the end of every week we tally up their points and they can exchange their points for ice cream, treats, a dollar, and other things. If they wish they can save up their points to get larger rewards such as new toys or a date with mom or dad. So far this system seems to work well for us but I was not very consistent through the month of December and we have lost a lot of momentum. My goal for this year is to be consistent with our new system, or more broadly, to be consistent leading my wife and training my kids.
3. I'm sure this is one of the most popular goals among people every new year. When Lindsay and I got married I weighed 175 lbs. I currently weigh 195 lbs. When I was younger I used to think that I will never get out of shape and get chunky. I mean, just work out and knock that fat off. Well, regardless of how I got to the state I am currently in, it is darn hard to go back. For one, I love food. It tastes good. For two, I'm out of shape. I do not enjoy working out. It does not feel good. My goal for this year is to loose those 20 extra pounds and get back to being that good looking husband I was when Lindsay and I got married.
Spiritual Goals
I don't know why I have put this last because it is really the most important. I truly desire to continue to develop a closer and deeper relationship with God. I want to continue going to greater heights of His grace! I want this year for everything I do to point towards Him. My business is really His business. My family is really His family. No matter what my goals are, ultimately, I want my business and family to be achieving His goals and further His kingdom. Again, this is something I don't know how to measure. But, this is the direction I am heading!
So, in this post I have put forward my goals for the next year. In my next posts I hope to tell the story of where I have come from, define where we are now, and build a plan to get where I am going!
This is great! I love you and so far you are doing a great job on your goals. Sooooooo happy that I get to be your wife!
ReplyDelete