Daymond John is worth $250 Million. Not only is he the Founder of Fubu and a 7 season Shark Tank Veteran, he is the author of the New York Times best selling book The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage
When one of the most successful Black Business owners alive today speaks, you pay attention. So when he revealed his number one non-negotiable success ritual I immediately adopted the practice into my life permanently.
The secret to Daymond John’s massive success was …reading his goals twice daily.
“I read them in the morning when I wake up. I go to sleep…They are very detailed I want them to be the last thing I think about when I go to bed and the first thing I think about when I wake up”, he says.
Its no secret that setting goals is an important start on your path to building your legacy. But what makes the super successful so different is how they set those goals. Specifically, the average person sets average goals, whereas high performers like Daymond set S.M.A.R.T. goals.
In this article, I will show you the exact format Daymond John uses to set goals. Again, when $250 million speaks, you pay attention!
Average Goals Versus S.M.A.R.T. Goals
In the interview, Daymond describes exactly how he formats his goals.
S.M.A.R.T. is an acronym that stands for specific, measurable, attractive, realistic, and timed goals. Here’s how each letter breaks down:
S.M.A.R.T. goals should be as detailed as you can possibly imagine. Include weight, sizes, colors, areas, and feelings. For example, a weak goal would be “I want to get in shape”, whereas a specific, strong goal would be “I will be 190 pounds of rock hard muscle, with a 6 pack and a 6 and a half minute one mile run time”.
S.M.A.R.T. goals should be measurable. When Daymond talks about his goals, he doesnt stop at just saying he will get in shape. He then determines the numbers it will take or his to reach his goal. In the weak example given above, there is no way to measure “get in shape”, but if you are able to currently measure your weight at 240 pounds and your goal is to weigh 190 pounds, then it is easy for you to measure how far away from your goal you are.
S.M.A.R.T. goals should be motivating enough to pull you forward. This is the why, or the reason behind what your are trying to do. In the interview, Daymond John talks about the reward he will receive for achieving a particular goal. This is important because you won’t always have the motivation to do something “just because”.
Attractive goals such as “I will achieve this so that my children won’t have to suffer as I did” or “so that I can be the example my family never had” will keep you moving forward when you think you are too tired to go on. Attractive goals should begin with the statement “I will”, instead of “I want to” or “I am trying to”. Those two words “I will” are powerful psychological engine starters that will give you energy beyond the limits of your mind and body.
S.M.A.R.T. goals should be realistic for you. Only you know what is within your reach and what is fantasy what might be realistic for Donald Trump might not be realistic (or attractive) to you. So make your goals realistic and relevant to who you are, the legacy you are trying to build, and where you are in life.
S.M.A.R.T. goals should have time limits. Notice in the interview that Daymond John revealed he had 9 goals. 6 of those goals expire every 6 months, 2 expire in 5 years, and 1 expires in 20. At the end of those limits, he reviews and adjusts his goals.
Your goals will fill the amount of time that you give them. For example, have you ever procrastinated for two weeks on an assignment that ended up only taking two hours to finish? Having timed goals prevents that same procrastination from stealing your most valuable asset: time.
Daymond John just released his latest book “The Power of Broke” that serves as the cornerstone of his business philosophy. I cant reccomend this book enough if you are a Black entrepreneur! Click here to buy the book now, and then watch the full interview with Daymond John and the School of Greatness below.