The Importance of Goal Setting and Vivid Vision With Dr. Alex Schloe

Welcome back to another episode of the Physicians and Properties Podcast.  In this insightful solo episode of the Physicians and Properties Podcast, Dr. Alex Schloe dives deep into the transformative practices of goal setting and crafting vivid visions.

Whether you are a budding real estate investor or a seasoned professional, understanding these concepts can profoundly impact your approach to personal and professional life.

What You'll Learn:

🚀 The Importance of Goal Setting: Learn why setting goals is crucial for clarity and direction in your investing and personal life.
🚀Understanding Vivid Visions: Discover what a vivid vision is, and how it differs from traditional vision statements.
🚀Creating Your Vivid Vision: Step-by-step guidance on crafting a vivid vision that encapsulates your aspirations for the next three to five years.
🚀Real-life Applications: Hear how Alex applies these principles in his life, including an inspiring story from his hike at the Crags in Colorado.
🚀Practical Tips: Get actionable advice on how to start small, think big, and avoid common pitfalls in goal setting and vision crafting.

Episode Highlights:

➻Introduction to Goal Setting and Vivid Visions
Unpack the foundational elements of setting effective goals and creating a vivid vision that guides your life and investments.

➻Alex’s Personal Journey with Goal Setting
Alex shares his personal experiences and lessons learned from real estate investing, highlighting the pivotal role of clear, actionable goals.

➻The Mechanics of a Vivid Vision
A detailed exploration of what makes a vivid vision powerful, including how to write it, what to include, and why it should be vivid and tangible.

➻From Vision to Reality
Strategies to transition from dreaming to doing, featuring real-world examples of overcoming distractions and focusing on what truly matters.

Inspired by today's episode? Start drafting your vivid vision today. Remember, the best time to plant a tree was 20 years ago. The second best time is now.

Share Your Progress: We love hearing from you! Share your goals and visions with us on social media or in our dedicated listeners’ forum.
Book a Free Call: Need guidance on your vivid vision or goals? Book a free call with Dr. Alex Schloe. Let’s make your dreams a reality together!

Thank You for Tuning In!
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Transcript

Dr. Alex Schloe: A good vivid vision is going to take a few hours to draft, so this might require you get up early, go to a quiet room without distractions, a coffee shop, or even outdoors in nature and prepare yourself to write this. This can be on a notepad, on your computer. It can even be a voice recording device, whatever helps you think best and express yourself best.

Plan when and where you are going to complete your vivid vision so that it will happen. In order to create this, dream big. This is a vision. This can be whatever you want it to be. Dream big. Begin with an open mind. 

 Welcome to the Physicians and Properties Podcast.  The show where we teach you how investing in real estate can give you the freedom to practice medicine and live life how you want.  Doctor, doctor, doctor, doctor. Now here's your host, Dr. Alex Schloe. 

 Hello, everyone. Welcome to another episode of the physicians and properties podcast, where we teach you how investing in real estate and entrepreneurship can give you the freedom to practice medicine and live life how you want today, I'm recording another solo episode. This one is about goal setting and creating a vivid vision.

This is something that when I got started investing in real estate, I wish I really understood the importance of goal setting and creating a vivid vision. I've been learning a lot more about this and I figured, Hey. What a good opportunity to share some of this with you. So if you're listening and you're just now getting started investing in real estate, you're just trying to figure out what's next on this path, or you're already established real estate investor.

It can be helpful to take a step back, take a look at your goals. Take a look at your vivid vision. Think about where do I want to be three years in the future, five years in the future, where do I want to be at home at work and in my business ventures? And that can really help you set some goals. I think about it as if you're driving a car, right?

We get in the car, we pull up Google maps. Let's be honest. Apple maps, not that great. We pull up Google maps and we put in an address. So this is a period of navigation. We're trying to figure out where we're going to go. We're going to make sure the car has gas, the air has tires, and we're going to figure out what direction we're headed before we start driving. 

If we don't have the directions, if we don't have the map, if we don't have Google Maps to help us guide our path, or we haven't taken the time to plan our route, We're going to be lost. We're going to be driving around all over the place. We're going to run out of gas, break down on the side of the road. 

So I think it's really important to take some time to set your goals and create a vivid vision for what you want your life to look like so in this episode, we're going to talk a little bit about the importance of goal setting. We're going to discover this vivid vision concept, which may be new to some of you all and explore the components of vivid vision and recommend, recognize, and understand the benefits of implementing a vivid vision. And then we'll talk a little bit more about how you can learn how to create and implement your own vivid vision And how the power of that can completely transform your life. Many of you guys probably know of Alex Hormozy. He is awesome. He's a great social media Influencer a great entrepreneur just very motivating and inspiring And just truly tells you what he's thinking and I really respect him for that.

He's got a great quote that says a focused fool can accomplish more than a distracted genius. All of us listening here to this episode, including myself has been that distracted genius. We've had lots of different shiny objects that have come our way and we focus on one and then we focus on another and we go from there.

Now, I don't think shiny object syndrome is a bad thing. I think we all have to take a look at real estate. We all have to go to that buffet and realize, Hey,  let's try a bunch of samples of the buffet and figure out what it is that we like before we get that main entree. So it's okay to experiment and invest a little bit in multifamily, a little bit in short term rentals, a little bit in residential assisted living.

Figure out what you really want and what you really like, and then become that focus full and accomplish more. than a distracted genius. And so that's what this is going to be a bit about. We're going to talk about, Hey, how can we figure out what we want? How can we set those goals and how can we chase after them?

And I think goal setting and vision work and all those sorts of things can be something that we just disregard. It's something that I haven't really thought about. And like I said, if you really spend the time to figure out Where you're going, where you're headed next, it's going to be a game changer and you're going to get there way faster than where you would if you did not. 

So what are goals? What is  a good goal and what is kind of a definition of goal setting? I think it's more of a process of identifying something that you want to accomplish and establish measurable objectives and timeframes. There's a lot of different frameworks for this, like the SMART framework, which we're all familiar with.

Nonetheless, it's the process of identifying something that you want to accomplish  and establishing some measurable objectives and timeframes along the way that are going to keep you on track. That are going to keep you headed in the right direction.  Some benefits of setting some clear goals, it's going to increase your motivation.

It's going to provide that sense of direction. It's going to improve focus, and it's going to facilitate evaluation of progress along the way. And I think that's really important. I talk about the gap in the game before. Sometimes we look at the gap,  we look at how far have we gone and it's never enough.

We're always chasing more. We have that gap mentality of, Hey, there's more to happen in the future. More and more and more. And we don't look back at the game. We don't look back at the progress and all the things that we achieved to get to where we are. We don't look back at the miles we've driven towards the direction that we're headed.

Towards the goal,  the ultimate goal for us until we lose that motivation and we lose that focus because all we see is people on instagram and people on tiktok and all these folks who may have achieved these things that they're posting about and we're always wanting more and more and more and we're not looking back at all we've accomplished and all we've achieved to get to where we are right now. 

Some common challenges that I've noticed in goal setting and, and specifically myself are sometimes I just set really unrealistic goals. And I think that's something that can happen to a lot of us. We just think, Hey, I'm going to buy 1 billion in real estate by 2045. We haven't really figured out where we're headed. 

We have this big goal of, Hey, I want to buy real estate 1 billion of it, but we don't understand, Hey, what asset class, where we're headed, what location, how are we going to build the team? All these things that cause vague objectives and a lack of follow through and failure to review and adjust those goals.

So it's really important to set a specific measurable attainable goal with clear objectives, follow through, take back, and adjust. Let's take some time to review your progress along the way and review and adjust those goals as we go. We've all been driving down the road and there's an accident in front of us and Google Maps or Waze takes us around that accident, saves us a bunch of time and we get to our destination faster. 

So let's talk a little bit more about a vivid vision. A vivid vision was created by Cameron Herold in his book of the same name. It's a really great book, short read, and it's a detailed description of what a company Or an individual wants to be in the future, specifically three years ahead. So unlike traditional vision statements, which are very important, these are often vague and brief.

A vivid vision is a comprehensive detailed document that vividly describes the future state of an organization, our personal life in multiple different aspects. It's written in the present tense as if it has already occurred.  The goal of a  vivid vision, is to create a compelling and tangible picture of the future.

You feel like you're there when you read this vivid vision. You feel like this is something you can accomplish. And it inspires you, helps you plan strategically to go forward to accomplish your goals.  So what are some components of a vivid vision? Well, this is typically a few pages long, and it's going to cover various facets of the future state.

So think about where you are in your real estate investing journey or your entrepreneurship journey.  It's going to cover various facets of your business, of your life.  This is meant to be vivid. This is meant to feel like you're there. So picture yourself in that environment.  It may include some personal achievements, some lifestyle achievements, health, relationship achievements, and it's written as if it's already been accomplished using the present tense.

This is going to help it feel more tangible, give you a realistic sense to you and anyone else who reads this vision so they can join with you as strategic partners and help you achieve your goals.  Oftentimes includes visual and sensory elements. Some people will include pictures in their vivid vision.

 What is the perfect real estate investment property that you're trying to pursue? If you keep reading your vivid vision and you keep looking at that property, it will come true. And you'll be surprised by how quickly you accomplish your goals.  Some purposes and benefits of this is that anyone who reads your vivid vision should be able to understand what your goals are.

And work towards the same goals and understand the future direction. This is something that we can take into our medical practice as well. If our whole team of medical assistants, technicians, nurses, admin staff, all are working towards the same goals and understand the future direction, that clinic will run so much more smoothly and  our patients will have much better outcomes and much better experience within the healthcare system with us.

It's going to enhance clarity and focus. So Vivid Vision will provide a clear roadmap for decision making, and it'll prioritize initiatives going forward that are going to help you obtain your goals quicker. It's going to improve strategic decision making, and it's going to help make decisions that align with long term objectives rather than temporary short term gains.

This Vivid Vision is going to help you become the person you want to be, or create the business you want to be three to five years in the future.  So, it's important, I would encourage you, as we're getting towards the halfway point of this year, if you haven't already set goals, and already planned out your vision, to take some time,  schedule interrupted time, in a setting that inspires you. 

A good vivid vision is going to take a few hours to draft, so this might require you get up early, go to a quiet room without distractions, a coffee shop, or even outdoors in nature and prepare yourself to write this. This can be on a notepad, on your computer. It can even be a voice recording device, whatever helps you think best and express yourself best.

Plan when and where you are going to complete your vivid vision so that it will happen.  In order to create this, dream big. This is a vision. This can be whatever you want it to be.  Dream big. Begin with an open mind. Try and be free from constraints of current challenges or limitations and encourage yourself to dream about the best possible outcome for your business, for your family, for your life.  This can be all encompassing. Think about every aspect of your business, of your life, not just the obvious elements of your real estate investing business, like a number of buildings, cashflow, et cetera. Consider team dynamics. How do you want to work with your strategic partners?

How do you want to interact with your tenants or your residents or the technology you're using to manage your home or your virtual assistant?  Detail the experience, imagine walking through that property as they're observing a day in the life of your tenants or your residents and your employees. What are the people doing there? 

What does it feel like to live there? What does it feel like to work there? What is the company culture like? All these things are important to think about as you're planning your vivid vision. What your life and your business is going to look like in three to five years. Again, I've hit this multiple times, but write it in the present tense.

Use descriptive language. Paint a clear picture. Describe what you see, hear, and feel.  For example, instead of saying, Residents are happy in the assisted living home. Describe what the happiness looks like.  Is that because they're getting exceptional care in a beautiful  3, 500 square foot home with 10 private bedrooms and bathrooms with a chef preparing their meals and caregivers that genuinely know them by name, know their history, know their life, know their families and feel like valuable pieces of that business and also know how valuable they are to the residents and the residents express that appreciation. That's vivid. You can understand that. You can feel that.  If you're living in the future now, it's going to help create a more dynamic and immediate sense of reality. That's the importance of writing in present tense as well.  This vivid vision is not going to be set in stone. You can absolutely refine it, finalize it, implement it,  edit it for clarity and impact.

Go through your draft, refine it, keep working on it, make sure it flows well, make sure each section transitions smoothly into the next. Seek feedback.  You can share this with your wife, share this with your spouse,  share this with your partner, with your business partners, key team members, get their input,  have them can create their own and read them and figure out, Hey, how can we implement these visions together to achieve our goals even faster and communicate this widely, share your vivid vision with everyone in your organization.

Consider how you want to present it. Use it as a guide for strategic planning, operational adjustments. It can be a reference point for you, but it can be a reference point for others as well. You can use this to help with decision making, help with daily activities to help you achieve those long term goals, and review this.

Like we talked about before, periodic reviews of your business is very important. So  visit your vivid vision and see if it still aligns with your long term goals. You can adjust this based on new opportunities, challenges ,et cetera.  So there's lots of different ways that you can create this vivid vision to help you create your goals.

And you can chunk this down your vivid visions, looking at three to five years or so in the future. But Hey, who says you can't create a vision of what your perfect week might look like  this week, what are your big rocks? What are the things that must get done in order to move the needle forward?  It's really important to think about that. 

I know personally, I get very overwhelmed when I think about all the things that I'm trying to accomplish. And when I just sit back and think about, okay, what do I need to do right now to move the needle forward in my business? And just start doing one thing at a time, doing the things that are most important.

I feel so much better. I feel like I accomplished something in my business grows even faster.  And another important thing is bringing those strategic team members on, bringing partners. And incorporating them into your vision, you can grow way faster together than you can do by yourself. And more importantly, you can grow way stronger.

You can build a way better company and relationship. If you bring people into the fold. I wrote my vivid vision after hiking. I was hiking at the crags in Colorado and a great hike. If you haven't been there, or you're in the Colorado Springs area, or you're coming to visit, look at the crags. It's one of the best hikes in the area.

But anyways, one day. My wife and my son were out of town and I grabbed my journal, Hiked the crags, hiked to the top, sat there for a while, and just thought about, Hey, what do I want my future to look like? What do I want my vivid vision to be? What do I want my goals to be for 2024?  Hiked at the top. My plan was to write this at the top of the crags, overlooking the beautiful Rocky mountains.

However, there is 50, 60 mile per hour wind gusts. And so I decided to hike back down and find a place that was a little bit more secluded and blocked from the wind. So I found a spot where the Creek runs through beautiful tall pine trees. I'm walking with my dog, Ollie, hiking through. It's a beautiful, beautiful day.

And I sit on a log by this Creek in this clearing. And I just start writing. I just start writing everything. What do I want my family life to look like? What do I want my home life to look like? What do I want my job to look like? And what do I want my businesses to look like going forward? And I tried to use as much detail as possible.

And I tried to dream big, which is a really hard thing to do sometimes.  And the word just started flowing and it was incredible. It was incredible to put myself in that mindset and to think and to feel that I was there. I had accomplished my goals. I'm looking at Alex three to five years in the future and looking back with that gain mentality of look at all I've accomplished.

If I focus on this vivid vision and most importantly, look at how happy my kids are, my wife is, how much more time I have to spend with them. How I'm practicing medicine how I want to, taking care of the patients that I want to, providing great outcomes for them, able to serve my community, able to give back, all because I took the time to create a vivid vision, all because I set those goals, all because I got started investing in real estate.

It's scary. It is terrifying to get started. As I mentioned before, my first house that I bought with a physician home loan cost me 58 out of pocket. And I was terrified to get started.  Luckily it all worked out. That house is more than doubled in value and it's cash flowing now. And all I had to do was get started.

And that was the stack to get started. That was the first property. And then it gets easier and easier and easier every time you do it. So if you're sitting here thinking, gosh, I don't even know where to get started. I would encourage you to just think Your vivid vision. Think about your goals. Where do you want to be in three to five years personally, professionally Entrepreneurially.  Just start writing it down. There's a framework for a vivid vision, but it doesn't necessarily have to be Something that's so rigid and so structured. So if you're just thinking now, hey, I want to get started But I don't know where I'm headed next I hopped in the car and I didn't set the directions.

I don't know where I'm headed. I'm driving around in circles. Take some time to figure out your goals. Take some time to figure out what you want. I guarantee you that time will be worth it.  If you want to learn more about a vivid vision, check out the book by Cameron Harold titled vivid vision. There's some great podcast episodes.

He has some great discussions on different podcasts. He comes on the action Academy podcast, my friend, Brian Lubin. That's a great episode as well. There's lots of people who have talked about goals. He's talked about vision and it can be so helpful for you along the way. So if you have any questions, please feel free to reach out, book a free call with me.

I'd love to talk through what your goals are. I'd love to talk through what your vision is, and I'd love to share mine with you as well.  So without any further ado, thank you so much for listening to this podcast. And if you learned anything from this episode, please consider sharing this with someone else.

Hope you have a great day. Thanks for listening. Take care. And with that, Dr. Alex Schloe, another episode of the Physicians and Properties Podcast. Signing off. 

  Hey, real quick, if you're still listening to this, I'm assuming you got value from it. So I need your help specifically.  My two year vision with this podcast is to help 100, 000 physicians learn how investing in real estate can give you the freedom to practice medicine and live life how you want. There are two main ways that a podcast grows.

One is the ratings and reviews, and the other is word of mouth. If you can please leave me a five star rating and review on Apple Podcasts and Spotify, as well as send this to one to two friends. That you think would get value from it, we can reach the physicians that we want to reach. Thanks in advance and talk to you on the next episode.

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