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ISSUE 38, January 3, 2024

CAREER PATH WISDOM

IT’S THE NEW YEAR. ARE YOU MAKING RESOLUTIONS OR SETTING GOALS?

Welcome to 2024! We at PathWise wish you the very best for the New Year, and we’re excited to continue to support you in being the best professional you can be.

In our first newsletter of the year, we’re going to talk about resolutions and goals. The New Year is often a time when we make resolutions – such as to eat better, exercise more, find a new job, take that trip we’ve been dreaming about, or spend more time with family – despite the fact that only about 9% of us actually keep our New Year’s Resolutions.


So why is that? It’s because resolutions are vague commitments to ourselves without a plan. And, to paraphrase Ben Franklin, “Those who fail to plan are planning to fail.” Rather than making some abstract promise, focus on setting goals instead, whether in your professional life, your personal life, or both.


You’ve probably heard of the SMART framework for goal-setting, but if not, SMART goals are:

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time-bound


There are a number of modest variations on the SMART framework, including some that have talked about SMARTER goals that are also:

  • Evaluated (or Exciting)
  • Reviewed (or Rewarded)


The SMART framework is powerful in its straightforwardness, and it provides a useful approach for providing structure to the goal-setting process. It will definitely help you sharpen your goals and make them more outcome-oriented.


In the context of your career goals, we suggest setting them as 5 year objectives. This Harvard Business Review article by Mary McNevin explains why this is a better approach than just setting annual career goals. Your 5-year goals should be re-visited at least annually, and you should keep them in mind in your day-to-day activities. A good way to do so is to complement your goals with a specific action plan that covers what you want to achieve:

  • This year
  • This quarter
  • This month, or
  • This week


For example, you may have a goal to become head of your department within 3-5 years. Your more specific action plan is to earn a promotion to first-level management this year, to work on a project with your boss’ boss this quarter to increase your visibility, to finish an important project this month that will showcase your skills, and to address a particular situation this week that is blocking success on your project.


Action-planning and committing to making regular progress against your goals are examples of the day-to-day discipline that underpins successful career management. As the adage goes, “What gets measured gets managed.”

While goals are often in the back of your mind, you need to bring them to the forefront and actually write them down. Doing so makes you more likely to remember them and commit to them, akin to forming a contract with yourself. Another suggestion is to share your goals with others where appropriate, particularly with family, friends, trusted colleagues, mentors, or your manager. Communicating your goals to others will help them hold you to what you’re aiming to achieve and to support you along the way.


Part of the focus on goal-setting also relates to knowing yourself, determining your values and interests, and advocating for yourself – these are all underpinnings that will help you both set and achieve your goals. If you aren’t sure what you want – what outcomes you actually want to achieve, start with a career assessment or two to get a better sense of what’s important to you. We offer several, in case you're interested.


So, get working on your goals, follow the SMART framework, lay out plans for achieving them, and – at a minimum – write them down and revisit them periodically. Best of luck!


If you want help with determining your career direction, setting goals, or laying out a plan to achieve them, our coaches can help. Invest in yourself, and sign up for one of our coaching packages today.

RECENT AND UPCOMING PODCASTS

January 1, How to be an Impact Player, with Liz Wiseman. Liz is the the CEO of the Wiseman Group, a leadership research and development firm headquartered in Silicon Valley. She teaches leadership to top organizations worldwide. She is also a Thinkers50 list member and has written four books: Multipliers, The Multiplier Effect, Rookie Smarts, and Impact Players. We focus on Impact Players and Liz’s own journey, primarily her years at Oracle.

January 8, Investment Banking, Entrepreneurship, and the Future of Work, with Greg Martin. Greg is a Managing Director with Origin Merchant Partners, which provides advice on mergers and acquisitions. He was also a co-founder of Farm’r Prepared Foods, a restaurant and office catering business that transformed into an e-commerce meal delivery company post-pandemic. We cover investment banking, Greg’s entrepreneurial journey, and what he’s hearing about the future of work in his own career podcast

Know someone whose career journey others would find interesting? If so, share your suggestion by emailing us at info@pathwise.io.


As always, our “Career Sessions, Career Lessons” podcasts are available on all the major podcast platforms, with video versions on PathWise’s YouTube channel

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   RECENT AND UPCOMING MEMBERS-ONLY CONTENT

Career Topics of the Week:


January 1 – Burnout, a sensation almost all of us feel at some point during our careers. We’ll cover what causes burnout, how to manage it in the moment, and how to make yourself more resilient.


January 8 – Work-Life Balance, an aspect of work that all of us are addressing throughout our career. Are you a “full separatist” or a “blender”? Figuring out what works best for you will help you feel better about your work life and your personal life.


January 10 – The First 90 Days, by Michael D. Watkins, presented by PathWise’s Daniela De Luca. If you’re joining a new firm, or even starting a new role, The First 90 Days is an indispensable guide.


Basic membership is free and gives you access to a wealth of content on careers, leadership and personal development. So what are you waiting for? Join today.

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Please share with us any feedback on top-of-mind career questions, topics you’d like us to write about, books you’re curious about, or podcast guests you’d like us to interview. PathWise exists to help our members get the most out of their careers. Drop us a note anytime at info@pathwise.io

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