We had our first coaching call a few days ago. I wanted to start our first call on our financial baseline to analyze where we are presently and where we want to be in the next 120 days.
What are the steps to the 120 day action plan
1. First set a goal of what you want to achieve so that it is realistic and yet challenging. If too hard then it would be frustrating. If too easy it will not accomplish much.
2. List some of the strategies that will help achieve the goal
3. List some of the tactics needed or steps to take
4. Prioritize the steps and set a date of completion
We are real estate investors and our specialty is cash flow properties. Here is a small sample plan for our 120 day goal which is to increase the net monthly cash flow to $1,000 per month
The action plan is separated into 4 categories: Foundation, Cash Machine, Asset Allocation, Education, and Life. A task is assigned to each category and then prioritized ABC with start and end dates. The priority will depend on your individual situation. The tasks are assigned for someone to complete and any comments.
%done Category Priority Tasks Start date End date Member Assigned Comments
A Create + follow dept plan
B Set Money Rules
C Set Up Entity
A Create marketing plan
A Revenue model
A Find investors
A Find Mentor + model company
A Review Investments/ Forecast
A Screen Cash flow properties
A Attend mastermind calls + coaching calls
A Exercise + eat well
A Set up rewards for milestones + have fun
There is a lot of A priority so there is a lot to do. I categorize A as urgent and important.
The B priority is important though not urgent. C priority is not important and not urgent at this time. Things can change over time. So for us since we already have entities it is prioritized as C. This will be different if you do not already have one then setting up an entity would be prioritized as A for you.
All of the areas take commitment and time. Even exercise and eating well seems to take time. Sometimes it is hard to reward our selves for small milestones and to have fun. We get so caught up with all the things we need to do and have not done that we forget to take time to recognize all that we have done. Just remember small steps lead to larger steps and before you know it you have accomplished your goal.
Take action. Set up your own goals and do your own 120 day action plan.
Investing in Your Future