Most of us have goals. Some of them are short term goals like doing well in our studies. Others are long term goals like earning enough money to retire early.
Goals aren’t a bad thing. They’re often the driving force behind our actions, and it’s certainly a good thing to know why you’re doing a specific thing.
But there are times when focusing on these specific goals can actually become detrimental.
For example, let’s say you want to lose 20 lbs by next summer so you can feel better about yourself on the beach. If you reach this goal, great! But what happens if the weight doesn’t come off as easily or quickly as you assumed and you manage to lose 10 lbs instead?
For many of us, this would be considered a failure. We set out to lose 20 lbs and only lost 10 lbs. It doesn’t matter to us that we look and feel better 10 lbs lighter than we started.
Focusing on the specific goal in this instance is detrimental because there’s only one way it can be deemed a success. It’s all or nothing. In some circumstances, seeing the weight drop at a slower weight than planned could lead to a complete abandonment of the goal.
I believe a more efficient method in this instance would be to follow a system rather than a specific goal.
What Is a System?
A set of principles or procedures according to which something is done; an organized scheme or method.
For example, instead of saying “I want to lose 20 lbs by next summer”, you could simply commit to a system of exercising on a daily basis or eating healthy foods every day.
By sticking to this system, progress will always be made. You will increase your fitness levels and overall health without having to hit a specific goal for the process to be considered a success. Of course, by following such a system, there is every chance that you could be 20 lbs lighter by next summer anyway.
Here’s another example. When I started out on another crypto platform, I set a goal to become a dolphin by earning a specific amount of rewards. This goal would soon become frustrating as I found that it was more difficult than I’d first imagined to gain the rewards required to reach my specific goal. It seemed insurmountable at times.
It would have been easy to give up. Instead, I ditched that initial goal and created a system. My system was to make high quality posts whenever I was in a position to do so. It’s something I could control completely, and there was no reliance on a certain outcome from that system for it to be considered a success.
A bi-product of my system is that I gained rewards along the way. Without having a specific reward target, I was no longer frustrated by the platform. However, by sticking to my system, my holdings increased substantially over time.
This kind of system can be applied to almost anything. Perhaps you set a goal to obtain top grades in your schoolwork. If you don’t achieve that grade, you’ve failed. Instead, you could create a system where you dedicate 30 minutes per day to studying hard. A bi-product of this system is that you will likely increase your understanding of the subject matter drastically, and may reach top grades by doing so.
Perhaps you want to become a CEO of a company by a certain age. If you don’t reach this goal, you’ve failed. Instead, you could create a system where you take any opportunity to improve yourself in the work environment. This could include extra-curricular activities, moving from job to job, volunteering for projects, networking etc. As a bi-product, you are putting yourself in a position for advancement without any specific target in mind.
The use of systems keeps us grounded with what we can control in the present. Over a long period of time, those systems will naturally lead to progress. I believe this will also lead to a more fulfilling life.
Using Systems to Build a Bigger Crypto Portfolio
This leads me on to the main point I want to make in this post. Over the last few months, it has become clear to me that many investors/traders in the crypto markets are frustrated by their progress.
Perhaps they’re feeling the weight of the market after such a fruitful run toward the end of 2017. Maybe they entered the sphere with dreams of becoming a millionaire quickly and haven’t managed to achieve that goal yet.
Whatever the cause of frustration, you are unlikely to progress to the best of your abilities if your mind is stuck in negative thought patterns.
My advice, if you wish to take it, is to think less about your long term goals. That’s not to say that they don’t matter, but they can actually hinder your progress. Instead, create a set of systems that suit your lifestyle.
If you want to be a successful trader, create a system of analysis and profit taking. It doesn’t matter if you didn’t sell at the exact all time high, as long as your system is helping to generate consistent profit. Over time, you will accumulate a larger portfolio in this manner than trying to hit specific targets and becoming frustrated when it doesn’t go to plan.
If you’re an ICO investor, create a research system to follow before parting with your cash. Don’t simply wish to jump on the next rocket ship and find yourself crashing back down to Earth when things don’t play out as you’d hoped.
Systems keep us on track at all times. Of course, if your system is faulty then you may need to re-evaluate, but if you’re seeing progress (no matter how small), keep going. You’ll thank yourself later!