Discover My #1 Goal Setting System – The PEG Method [Part 2/2]

STEP 4 – Repeat For Each Step On The Staircase

Watch this Success Weekly clip where Anik takes a deep dive into mini-goals and how to apply The Peg Method.

Now back to Steve’s goal. He’s going for the second step on the staircase: $10,000.

• He brings down another goal: $10,000.
• He brings down a problem: no promotion opportunities.
• He brings down an asset: his social media skills.

Why does Steve need to deploy this part of the plan and not just be content with working overtime?

Because there’s not much more Steve can do with the “overtime asset”. There’s only so many hours of overtime he can work, and there’s no room for promotion. So he MUST get some side income going.

Luckily Steve understands social media tools like Facebook and Twitter. He can help companies use these tools to market their products and services.

Should Steve go out and try to get a job as a social media manager? Maybe. But only large companies hire somebody full-time to manage their social media. Most businesses contract it out to agencies or individuals. But this actually gives Steve an incredible opportunity: he can approach local businesses and offer to manage their social media for them.

In today’s market, he should be able to get at least $500/month per client.

Just getting 2 clients would vault him over the $10,000 mark for the year.

This is also a relatively easy strategy for Steve. Because he knows what he’s doing, 2 clients would require only an hour or so each day. And all he needs is a computer and internet connection. But here’s what’s really important: social media management could grow into full-time work. It could replace Steve’s current job.

How? His per hour rate is much, much higher with the social media stuff. Once again, Steve is matching an asset against a problem, and using that to achieve a mini-goal.

PROBLEM (dead end job) + ASSET (social media skills) = $10,000 down!

Now, has Steve stopped his other work? Heck no!

By now Steve’s riding the momentum he created with taking more overtime. He’s already got money coming in from that.

So at this point, he’s simply ADDING something to the mix.

He’s utilizing a new asset to solve an old problem AND achieve a mini-goal at the same time. Nice, huh?

Finally let’s do one more step on Steve’s staircase.

• He brings down another goal: $20,000.
• He brings down a problem: his introversion.
• He brings down an asset: his friend Logan.

It’s obvious that the best way for Steve to double his income is to grow his social media consulting and wean himself off his current job.

All Steve has to do is get more clients… but that means approaching businesses and selling his services. That’s not something Steve is naturally good at. Frankly, cold calling a lot of different businesses is NOT something Steve wants to do!

Luckily, Steve has a friend who has connections: Logan.

Logan can ask around his network. He can find out who needs social media services. He can link those people up with Steve. No cold calling required!

Steve simply needs to follow through on the opportunities and do great work for his clients. The Peg Method shows how this is totally doable.

We overcome what looks like a huge problem with an asset that makes it melt away. By adding just 4 clients, he’ll earn the extra $20,000 he needs to top $100,000 in annual income.

Even cooler, Steve could set himself up to be self-employed doing something he’s passionate about. And all because he recognizes that Logan — an asset — can help him overcome one of his biggest obstacles.

See how The Peg Method gets us to think creatively about the assets we already have?

It even gives us ideas for more assets we need to acquire. Imagine what could happen for Steve if he had 2, 3, or 4 well-connected friends like Logan!

I could keep going, but I think at this point everyone can see how to use The Peg Method.

Simply write down…

• Everything we’re trying to accomplish (Goals)
• Everything we have that can help (Assets)
• Everything standing in our way (Problems)
• Then just sort it all out on the staircase!

Now let’s go to the next level and see if The Peg Method can help achieve an even more ambitious goal…

Let’s dive into the second example: making $1 million.

Lauren owns a moderately successful Internet Marketing business that makes her around $100,000/year. That’s a decent chunk of change, but Lauren wants more. In fact, she wants to become a millionaire — and fast.

What’s step #1? Creating those 3 columns.

THE GOAL: Earn $1 million during the next year.

With the goal in mind, Lauren should list out the biggest problems and assets associated with it, like the previous example. To keep this post short, I’ll simplify them a bit.

PROBLEMS standing in the way:

• Small list. In the Internet Marketing world, it’s difficult to have huge product launches without a large email list. Unfortunately, Lauren’s email list is very small.
• No time! Her schedule every day is already maxed out. She doesn’t have more than an hour or two to work on a new project.
• Motivation. While Lauren wants to earn a million dollars, sometimes she doesn’t feel like doing the work required to get it.

Now for her ASSETS. What are the things working for Lauren?

ASSETS that can help:

• Her friend Jamie, who owns a multi-million dollar Internet Marketing business. She is constantly launching new products and could be open to collaborating on some with Lauren.
• A shelved product that was never launched. Lauren created this product a while back, but she got tied up with other stuff before she could launch it. While it needs a little bit of work, it is almost ready to go.
• Lauren LOVES meeting new people. She can walk into any room and instantly make connections.

Here’s a picture that shows her lists, with the big goal at the top.

Let’s Peg It!

Alright, we’ve got that imposing $1 million goal. The first thing Lauren needs to do is break it up.

Remember…

• Each step of the staircase is ONE of her goals.
• Each step will use ONE of her assets, which will resolve ONE of her problems.

For Lauren, each stair will represent $250,000. Again, she should actually break it down even further, into more granular goals. But I’ll do the 30,000 foot overview to simplify the example.

Here’s how it looks on the diagram:

Now it’s time to start pairing up problems with assets.

The first problem Lauren should tackle is motivation. It’s important to get the ball rolling since it’s easier to KEEP moving than it is to START moving.

So Lauren needs to use an asset that will get her quick results. That means launching a product. The good news is that she’s got one ready to go sitting on the shelf. So it makes sense for her to deploy this asset first.

Within a month, she’ll see money flowing into her bank account. That should motivate her to keep going and make even more!

Lauren brings down her mini-GOAL ($250,000), her PROBLEM (motivation) and matches it with an ASSET (shelved product).

Remember: Lauren should not worry about (or even THINK about) $1 million! The BIG goal should be out of her mind.

All she needs to focus on is that FIRST STEP.

Now back to Lauren’s goal. She’s going for the second $250,000 step.

• She brings down another goal: $250,000.
• She brings down a problem: her lack of time.
• She brings down an asset: her friend Jamie! The 2 of them will collaborate on creating and launching a new product.

Jamie is a terrific asset to help Lauren overcome her time issues. Yes, they can split the work. But more importantly, Jamie brings her own assets to help.

Working together, they can create and launch a product TOGETHER that will help both of them do MORE!

Once again, Lauren is matching an asset against a problem to achieve a mini-goal.

PROBLEM (lack of time) + ASSET (partnership with Jamie) = $250,000 down!

Finally let’s do one more step on Lauren’s staircase.

Lauren’s small mailing list is a significant liability. By increasing the size of her mailing list, Lauren can reach out to more potential customers. This means any time she launches a new product, she can sell to a bigger audience. That means more money with each product launch. 

• She brings down another goal: $250,000.
• She brings down a problem: her small list.
• She brings down an asset: her networking skills.

Lauren will already be growing her list by following through on the first 2 steps. But if she really wants to start making the big bucks, she’ll need to do more.

This is where networking comes in. Effective networking can connect Lauren with other
entrepreneurs with big lists of their own. If she nurtures these relationships and offers their lists good deals, that opens up opportunities for bigger product launches. That means a LOT more momentum!
Lauren has an important networking asset: she is an outgoing woman. She can walk into a room full of strangers and start connecting with them.

Lauren simply needs to find more networking opportunities. She already possesses a natural asset — her personality — that can connect her to people who will grow her business. Heck, all Lauren has to do is USE a trait she already possesses and make some profitable connections!

Just like that, The Peg Method takes an incredibly ambitious financial goal — earning $1 million — and breaks it down to make it more attainable. It all starts with making mini-goals.

See, most people tackle their wealth goals the wrong way. They trap themselves in longing and dreaming. They focus on the whole $200,000, $500,000 or $1 million.

But how do we make $50,000? Or even $100,000? And actually keep the money we make?

And what’s standing in our way — what’s preventing us from making that money? Do we even know what led to our current financial position in the first place?

Many people spend a bunch of money on different “make money” programs and get absolutely nowhere with them. But it’s not because they have the wrong information.

It’s because they have absolutely no idea what their REAL obstacles are. And they don’t know how to find the assets they need, let alone deploy them in an effective way.

Our problems — and our assets — are all unique.

So we need a set of steps, an abundance mindset and way to put all that good stuff into a plan that feels right for who we are as individuals.

Without that, it’s easy to keep poisoning our minds with big, fuzzy, vague wishes that never actually get anywhere.

So ask these questions…

• Do I know what my real problems are?
• What do I have for assets?
• What do I have to work with?
• What am I good at?
• What stands in my way?

To make money, we can’t just do what someone else tells us to do! What THEY specifically did to make money might not work for us. We’re all different people. We all have different assets and different strengths. Our techniques might not work for others.

If we try to be exactly like someone else, we could just be fighting our own inner guidance.

But The Peg Method helps us to stop fighting ourselves. It shows us what we want, what we have and the EXACT STEPS we need to get what we want without fighting ourselves and without beating ourselves up because we can’t do everything right NOW.

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