It can be very stressful if you plan to achieve something but at the end of the scheduled period you fail to attain it. This is even more painful when you fail to achieve your financial goals. If you've set a goal that remains unachieved, know that you're not alone. Here’s what to do when you find yourself in this situation.
Celebrate Your Effort
First and foremost, congratulate yourself for setting a goal in the first place. Many people have vague dreams that they never transform into concrete goals or attempt to achieve.
You are different, yes you are. You are different because you took the time to be intentional about your future and set a goal. Give yourself credit for that effort!
Separate 'Failing' from Being a 'Failure'
Failing to achieve a goal does not mean you are a failure. It's crucial to distinguish between the two.
Everyone fails at some point, and failure can be a valuable learning experience. In business, there's a philosophy called "fail fast," which emphasizes failing quickly to learn and move on. Apply this mindset to your personal goals.
History has a very good lesson explaining why failing is not failure. Remember the story of the man who invented the bulb. His name is Thomas Edison. Edison failed 1000 times before he was able to invent the first light bulb. If he had considered himself a failure, you and I today will not be enjoying the convenience of man made light.
Squid Game is among the most watched shows on Netflix, however, did you know that Hwang Dong-hyuk, who is the program creator failed for 10 years and it was in the 11th year, 2020 to be specific that Netflix accepted to produce the show and it was aired in 2021. Imagine pursuing a dream for 10 years, taking loans to support your family only to get lucky in the 11th year. If Hwang had considered himself a failure, a great show like Squid game could not have been produced.
These examples clearly show that failing is not failure.
Failure indicates the end and it t often comes when you decide to quit. Failing, on the other hand means you haven’t achieved your goal yet, but you’re still in the game. It is thus important to reflect on the possible reasons that made you not to achieve your goals and restrategize based on the lessons garnered.
Also Read: My 3-Step Plan to Achieve 95% of My Goals in 2025
Reflect on Why You Didn’t Achieve It
After accepting that failing does not equate to being a failure, take an objective look at why you didn't achieve your goal. Step back, remove your emotions from the situation, and ask yourself honestly: "Why did I not achieve my goal?"
Common reasons that hinder people from achieving their goals:
- The goal was out of your control.
- You weren’t committed enough and didn’t take the necessary actions.
- You were committed and took action, but still didn't achieve the goal.
- You did everything right, but due to unforeseen circumstances in your life, you did not manage to achieve your goal. Take it for example, in 2020, many people had goals but no one knew that COVID-19 would happen and change everything. In such a case, do not blame yourself.
Being honest about the reason is key to learning and moving forward.
Other factors that prevent people from reaching their goals:
The fear of failure: Many people struggle to achieve their goals because of their past experiences with goal setting. At the end of the year, it is common to see memes making fun of people who set goals at the start of the year but fail to achieve them at the end of the year. This constant reminder of past failures drives many people to become less confident in themselves and their goals thus discouraging and demotivating them into becoming hesitant to set or pursue new goals.
in the case where you are a victim of fear of failure, just remember that every great success story is built on a foundation of failed attempts. What matters most is not how many times you fall, but how many times you choose to rise again. George Addair once said “Everything you’ve ever wanted is sitting on the other side of fear.”
Setting unclear goals: I always encourage my readers to employ the SMART goal-setting framework. Many people fail to attain their goals because the goals that they set are not realistic thus ending up discouraging them. When you create goals at the beginning of the year or at any time, make sure they are Specific, Measurable, Achievable, Relevant, and Time-Bound.
Procrastination: "I’ll start tomorrow, next week, or next month." does that sound familiar? Trust me, procrastination has been one of my biggest hurdles on the journey to achieving my dreams. I first planned to start this blog in 2018, but it wasn’t until September 26, 2023, that I finally took the first step and purchased Fineducke’s domain. Even then, I didn’t write my first blog post, How to Start and Develop a Business, until July 4, 2024. I just kept on making excuses, procrastinating, feeling guilty, panicking and the cycle continued.
That’s how much procrastination can hold you back!
More factors hindering people from achieving their goals
- Lack of support
- Negative self-perception
- Underestimating the difficulty
- Giving up too soon
- Dwelling on the past.
If you want to achieve your goals on time, it’s crucial to develop strategies to overcome procrastination. Without them, your dreams might remain just that—dreams.
Analyze and Adjust
If the goal was out of your control, be more cautious when setting future goals. Ensure they are based on what you can control. If you weren’t committed or didn’t take necessary actions, ask yourself why. Did you not make the time? Were you afraid? Understanding your lack of commitment can help you address these issues in the future.
If you were committed and took action but still didn’t achieve the goal, revisit your action plan. Perhaps your approach was flawed. Understanding this is crucial if you decide to continue pursuing the goal.
Decide Whether to Pursue the Goal
Now that you understand why you didn’t achieve your goal, decide if it’s still important to you. Often, people fail to meet their goals because they set unrealistic deadlines. While having clear timing is essential for SMART goals, we can sometimes be overly ambitious.
Consider if the goal still matters to you. If it doesn't, let go of any guilt or shame and move on. There's no point wasting energy on a goal that no longer serves you. However, if the goal remains important, move on to the next step.
Create a New Plan
If you decide to continue pursuing the goal, create a new plan. Adjust your timeline, refine your action steps, and ensure your approach is realistic.
I will reiterate, always use SMART GOALS FRAMEWORK when creating goals. Break the goal into smaller, manageable tasks and set new deadlines. Stay flexible and be prepared to reassess and adjust as needed.
Conclusion
Not achieving a goal can be tough, but it’s also an opportunity to learn and grow. By separating failing from being a failure, reflecting on the reasons, and deciding whether to continue pursuing the goal, you can turn this experience into a stepping stone toward future success. Keep setting goals, stay committed, and remember to celebrate your efforts along the way.
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