Setting resolutions for the year: Win big by shifting your focus.

As we dive into the new year every year, many of us are setting resolutions and financial goals, aiming to improve various aspects of our lives—be it building a successful business, achieving financial independence, or enhancing our investment strategies. Recently, I came across an insightful blog post that challenges the traditional approach to goal setting. The author suggests that instead of focusing solely on goals, we should emphasize the systems that drive our daily actions. This concept struck a chord with me, and I wanted to share how I plan to apply it in my career as a financial consultant and perhaps inspire others in the financial services industry in Singapore to do the same.

Rethinking Goal Setting in Financial Planning

The main takeaway from the article is to forget about setting goals and instead focus on building effective systems. This idea may seem counterintuitive, especially when we've been taught that setting clear financial goals is crucial for success. However, the author argues that while goals are important, the systems we use to achieve them are even more critical. For example, if you're aiming to grow your investment portfolio this year, the system would involve regular monitoring of market trends, diversifying investments, and maintaining a disciplined approach to saving.

As a financial consultant, I can relate to this perspective. My goal might be to expand my clientele base by a certain percentage by the end of the year, but the system that will get me there includes consistent prospecting, marketing, and providing exceptional financial advisory services. The same applies to anyone in the financial industry—whether you're an investment advisor or a business owner—your success depends more on the processes you implement than on the goals themselves.

The Importance of Systems in Achieving Financial Success

So, should we ignore our goals entirely and focus only on the system? Not exactly. The author suggests that by honing in on the system and making it a part of our daily routine, we can achieve our goals almost effortlessly over time. For instance, if you're an entrepreneur in the financial sector, your goal might be to increase your revenue or client satisfaction. The system to achieve this could involve consistent client follow-ups, staying updated on the latest financial products, and refining your financial planning strategies.

Personally, I've found that focusing on the system allows me to improve and tweak my approach regularly. It keeps me motivated, ensures that I'm making progress, and ultimately helps me achieve my financial goals. However, I also believe that we shouldn't completely ignore our goals. Instead, we should view them as a guiding light, while dedicating our energy to perfecting the system that will lead us there.

Integrating Systems into Your Life's Resolutions

As you set your New Year's resolutions, consider incorporating a system-focused approach. For example, if your resolution is to build wealth or improve your investment strategies, outline the specific actions you need to take on a daily or weekly basis to make that happen. Whether it's scheduling regular reviews of your investment portfolio or attending networking events to expand your client base, the key is consistency and dedication to the process.

In my own practice, I've started to integrate this mindset by setting a single, clear goal and then breaking it down into actionable steps that I can execute consistently. This approach not only keeps me focused but also ensures that I'm constantly improving and moving closer to my financial objectives.

Making Your Financial Goals Irreplaceable and Extraordinary

Ultimately, the secret to success in financial planning—or any other field—is to focus on the process, immerse yourself in your passion, and let your unique value shine through. Don’t just chase after financial success; instead, let success come to you by consistently delivering extraordinary services and maintaining a system that sets you apart from others in the industry.

What about you? Could shifting your focus slightly from just the goal itself to the systems that support it help you build a stronger, more consistent New Year's resolution? Remember, the secret to success lies in turning your vocation into a vacation—where the process itself becomes a rewarding experience.

Main resource: James Clear - Goals vs. Systems

Winifred Tan (Wini)
B.Sc (First Class Honours)
ChFC (Singapore) | AEPP | IBF Advanced Level 2CFA (Singapore) - L1 | CIPM (Int’l) Level 1
Court of the Table | Int’l Dragon Awards (Bronze) | APAC Financial Services Star Award
Top 20 GE Executive Financial Consultants | Entre-Planner