Tuesday, January 3, 2017

Tracking Your Progress

All companies worth their salt track different metrics of the company. Companies track their profits, losses, efficiency, inventory, etc. They have tools like Balance Sheet, Income Statement, Cash Flow Statement, etc. So why shouldn't you, as an individual, track your own progress? Whether you are a freelancer, an employee, or a small business owner, you should also track your progress. In and outside of your work life.

What to track?

Your efficiency

Are you doing your work in the most effective but least time possible? Are there any constant distractions and obstacles that you have identified that might negatively affect your efficiency?

Financials

You cannot ignore and not track your financials if you want to keep on doing what you're passionate about and be closer to your goals unless you're already rich. Financial troubles might be an obstacle to your bigger goals if not prevented to happen in the first place. Prevention is better than halting your goals to fix your financials troubles.

Obstacles

Different obstacles for different people with different goals. Tracking your progress will greatly help in identifying these obstacles. Whether the obstacles are your own bad habits, environmentals factors, financial factors, etc. you have to be able to identify them and remove or minimize them from your everyday operations. Tracking your progress allows for the opportunity to identify even the littlest of obstacles to be the culprit that is keeping you from achieving your goals faster.

Bad habits

These are one of the types of bad habits and I specifically listed them here as items that are very important to track because almost always we are our own worst enemy.

Expected/Estimated date of achievement

Do you need to move your expected/estimated date of achievement? Tracking your progress with regards to your efficiency, current obstacles, and progress towards your goals will help you determine this objectively.

Your relationships with your loved ones

Are you spending enough time with them? You can spend time with your loved ones (and you should!) without feeling guilty of not giving your all and your best to your passion project by being able to see where your hours are spent. How many hours have you spent in working towards your goals? 60 hours? Nice! I can take a break this weekend and spend time with my loved ones.

Your social life

How are your connections? Do you still attend networking events? You might be missing on good opportunities that are related to your goals if you're not careful and let your social circle rot. From time to time go out and spread your wings again. Get away from working on your goals and be out there. You never know, being out there might actually speed up your progress towards completing your goals.

How to track?

Keeping a journal is a very effective way of tracking your progress towards a goal

Importance of tracking your progress

1) It helps you in formulating new strategies (if necessary) and pivot directions (if necessary)
2) It helps you keep your focus no matter how long the goal takes to finish
3) It helps you make decisions base on trends
4) It helps you identify inefficiencies in your efforts day-in day-out
5) It helps you measure your progress objectively
6) It helps you measure your efforts and progress objectively

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