Rainer Zitelmann: The Goals You Write Down on New Year’s Eve Will Define the Year Ahead

For me, it has been a ritual for the last 25 years: On the morning of New Year’s Eve, I write down my goals for the year ahead. I wouldn’t do this year in year out if I hadn’t learned from experience that it works. The same goes for many others. Many of the successful entrepreneurs that I interviewed for my dissertation about theentrepreneurship industry were also successful. psychology of the superrich You can also write down your goals.

Simply Why? It is important to note that this ritual is very effective. It works well for many successful people, as demonstrated by experience. Arnold Schwarzenegger, a man who has achieved great results in all areas of his life (sport, film and politics), writes in his autobiography, that he began doing this early in life. 

 “I always wrote down my goals, like I’d learned to do in the weight-lifting club back in Graz. It wasn’t sufficient just to tell myself something like ‘My New Year’s resolution is to lose twenty pounds and learn better English and read a little bit more.’ No. That was only a start. Now I had to make it very specific so that all those fine intentions were not just floating around. I would take out index cards and write what I was going to:

“get twelve more units in college;

“earn enough money to save $5,000;

“work out five hours a day;

“gain seven pounds of solid muscle weight; and

“find an apartment building to buy and move into.

“It might seem like I was handcuffing myself by setting such specific goals, but it was actually just the opposite: I found it liberating. Knowing exactly where I wanted to end up freed me totally to improvise how to get there.” 

Schwarzenegger emphasizes the importance to set ambitious goals. “People were always talking about how few performers there are at the top of the ladder, but I was always convinced there was room for one more. I felt that, because there was so little room, people got intimidated and felt more comfortable staying on the bottom of the ladder. But, in fact, the more people that think that, the more crowded the bottom of the ladder becomes! Don’t go where it’s crowded. Go where it’s empty. Even though it’s harder to get there, that’s where you belong and where there’s less competition.” 

Scientifically supported Goal-Setting Theory has been proven to be successful in numerous studies. It is more effective than setting vague goals or no goals. 

“Dream more than others think practical”

My book Dare to Be Different and Grow RichI studied the biographies more than 50 successful people. It was clear that many had very ambitious goals at an early stage of their lives.

Howard Schultz was born the son of an unskilled laborer in Brooklyn in 1953 and grew up in a deprived neighborhood. His company Starbucks was a major brand, with more than 27,000 outlets worldwide. He prefaced his 1997 autobiography by advising readers: “Dream more than others think practical. Expect more than others think possible.” Larry Page, Google’s founder, is a firm believer in what he calls “What He Calls” “a healthy disregard for the impossible”: “You should try to do things that most people would not.” Sam Walton, the founder of Walmart, which was at one time the largest corporation in the world, explained the secret of his success by saying: “I’ve always held the bar pretty high for myself: I’ve set extremely high personal goals.” Richard Branson, a billionaire and legendary entrepreneur, said it pithily: “The lesson I have learned throughout all this is that no goal is beyond our reach and even the impossible can become possible for those with vision and belief in themselves.”

Why don’t more people set themselves ambitious goals?

If setting ambitious goals works so well for so many successful people, why don’t more people do it? They lack self-confidence and fear failure. Try this little thought experiment: Imagine for a moment that I could guarantee you that you could not fail – wouldn’t you then set much bigger goals for yourself? You can’t guarantee that you will succeed. 

Let me make two observations.

1. If you set a goal that is too ambitious because you fear not being able to reach it, you will have failed because there is no way you can achieve your goal.

2. Failure is a sign that you’re not trying hard enough. Because you are constantly successful, it proves that your goals were never ambitious enough. 

I get asked a lot: What is the ideal goal? What should my goal be? What goals should I establish?

The saying “Nothing is impossible” The myth that motivational trainers tell you is often false. No matter how many times you try to write it down or how much you want it, you will not be the President of the United States in next year. And you won’t fly to Mars the year after next, no matter how much you dream about it.

People set unrealistic goals.

This isn’t the point. Most people set goals that are not too big, but too small – or they don’t set any goals at all. You should set a goal that is so large that it makes it difficult, but not impossible, to believe in. It is impossible to reach a goal that you can easily achieve.

Above all, the goals you set must be quantifiable, otherwise you won’t be able to check whether you are achieving them. Your subconscious won’t be able to understand vaguely stated goals, and that is even more important. Amazon is the best place to write. “Send me something great,” you won’t get anything. Be specific about your goals. 

Last New Year’s Eve I wrote: “My next book will be translated into 20 languages and I’ll sign all the necessary contracts in 2022.” That was ambitious, because my most successful book to date had been translated into 13 languages – and that had taken ten years! 

One year ago I also resolved to write only one goal. I normally set myself five to ten. It would be easier to reach one goal than five, I thought. It was so. But, the goal was too modest. In the end, I signed 27 contracts for the book. “In Defense of Capitalism.” So, formulate specific goals – and above all, don’t be afraid to set ambitious goals! I wish you all the best in your 2023 goals! 

Rainer Zitelmann’s book “In Defense of Capitalism” Soon, it will be available.