There is Always A Bigger Fish; How To Stay Motivated for Whale Goals
There is always a bigger fish. Man Group (who’s former Chairman I am seated next to in the picture, Lord Fink) manages about $142 billion through its range of hedge funds. I’ve not even got to $1 billion assets under management. There is always a bigger fish.
So what do you when your goals in life see insurmountable? Here is some advice.
1. Break your goal down into smaller, more manageable tasks: This can make the overall goal seem less daunting and make it easier to track your progress. For example, we had a spreadsheet of capital providers and the amounts they may be able to provide and probabilities. Also I spun a piece of fintech out of my hedge fund to get that to unicorn valuations.
2. Focus on the process rather than the outcome: This means to focus on the steps you are taking to achieve your goal, rather than just the end result. This can help you stay motivated and engaged in the process, and can help you enjoy the journey.
3. Surround yourself with a supportive community: This can provide you with encouragement and accountability. Find a workout buddy, join a running club, or find a support group that is working towards a similar goal.
4. Set specific, challenging goals: Research has shown that setting specific, challenging goals can lead to higher levels of motivation and engagement. Make sure your goals are SMART (Specific, Measurable, Achievable, Relevant, Time-bound)
5. Remind yourself that progress is not always linear: Setbacks are a normal part of the process, so don’t give up if you hit a rough patch. Instead, stay focused and committed to your goal.
6. Use visualization techniques to see yourself achieving your goal: This can help to increase motivation and confidence. Close your eyes and imagine yourself crossing the finish line of the marathon, for example.
7. Create an action plan with deadlines and milestones: This can help you stay on track and hold yourself accountable. Set deadlines for reaching certain milestones and make sure to celebrate when you hit them.
8. Reward yourself for progress made and accomplishments: This can help to keep you motivated and can also serve as a reminder of how far you’ve come.
9. Stay positive and maintain a growth mindset: Believe that you can achieve your goal, and that you can learn and grow as you work towards it.
10. Stay flexible and be willing to make adjustments to your plan as needed: Sometimes, things don’t go as planned, and it’s important to be willing to make adjustments to your plan as needed. Be open to trying new strategies or techniques if they might help you reach your goal more effectively.
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Alpesh Patel OBE