DOES SUCCESS OF OTHERS MOTIVATE OR DEPRESS YOU?

By in Wealth | 17 comments

Get Inspired and Motivated by the Financial Successes of Others

I’m a bit obsessed with goal setting! I believe that if I set a goal, write it down, set a completion date, then it will come true. More times than not, it works out, but not always. Lots of my blogging colleagues publicly follow up with their January goals with a mid-year review. My financial, career, and personal goals are not for publication. On the other hand, my blogging goals are public.

Here are my blogging goals as stated in January, 2012, and the results of these goals:

Increase blogging income by 50%

Result; January through July, 2012 increased blogging income by 21%.

Freelance at one additional large public site

Result; Continued freelancing at Benzinga, Brain Trust Contributor and FindtheBest; Expert Blogger. Posted on The Digerati Life-Buying Bonds? The Effect of Interest Rates on Bond Value vs Yield and Free Money Finance-Dividends aren’t a Perfect Solution for Yield.

Get personal finance book accepted for publication

Result; Great responses from two major publishers, not in contract yet.

Start 2 static niche websites with a partner

Dumped this goal.

Write and schedule blog articles two weeks in advance

Result; Got close at one point, but I have a long way to go on this one.

Goal Setting Success and Summary

I’m satisfied with my results. I’ve motivated and redirected for the future. Google had some problems with private advertisers and thus slammed my income from that source for a while. I decided to forgo the niche site idea. Not the direction I want to go right now.

Going forward I’m looking to build the readership at Barbara Friedberg Personal Finance and offer more money wealth building resources. I’ll keep you posted as these evolve.

Sign up for free “Wealth Building Tips” and free eBook, 20 Minute Guide to Investing. No spam, I promise.

Barb Across the Blogoshere

Average Joe, The Free Financial Advisor invited my to participate in his weekly podcast last week. It’s available on iTunes for downloading. I had more fun talking money than I could have imagined with other premier bloggers! I hope to be a frequent guest!

I’m a personal finance expert in episode 6

I was interviewed by a mainstream magazine, Where to Retire, (July/August 2012, p. 35), “Beyond the Impulse: Decision-Making Tips“. This is one of the few remaining actual (not virtual) magazines around!

Streetsmartfinance included my Keeping up with the Jones’ article.

Carnivals:

Carnival of Personal Finance at Investing Answers
Carnival of Financial Camaraderie at Money Counselor
Carnival of MoneyPros at Finance Product Reviews
Carnival of Retirement at Debt Black Hole
Nerdy Finance Carnival at Nerdy Finance Carnival
Wealth Artisan’s Financial Carnival at Wealth Artisan
Y & T’s Weekend Ramblings at Young and Thrifty
Yakezie Carnival at See Debt Run

Action Steps:

Get a notebook and label it Personal Finance. Keep it by the computer to jot down all your money thoughts and goals.

1. Make a commitment to write down your goals every 3 to 6 months. Make sure to be specific and include a date.

2. Look them over periodically. Revise and evaluate how you are doing.

3. Take action to achieve those that are the most important.

Learn from others successes and failures. Don’t dwell on feelings of envy or competition unless they propel you forward.

Share your recent successes in the comments section!

 

 

    17 Comments

  1. Nice work Barbara. Looks like you’ve been getting a lot of good exposure for you blog. I totally want to get featured in a newspaper or magazine some day.

    Also good idea to drop the niche site goal. Those don’t do nearly as well as they used to. I barely touch my niche sites anymore. A blog has so much more long term potential.

    Good luck getting your book publishing contract!

    Modest Money

    August 12, 2012

  2. @Modest-Glad to hear niche sites aren’t the way to go. I hear lots of bloggers referring to them. I keep telling myself “slow and steady wins the race” and picture myself as a singles hitter vs. home run hitter!

    Barb

    August 12, 2012

  3. I was envious before I figured out my investing strategies. (long, slow plod from poverty to subsistence living, gradually working my way up to world domination)

    Now I’m only frustrated when they try to use their resources to buy political parties to keep the underclasses from doing the same.

    thestarvingartistcanada

    August 12, 2012

  4. @The starving-I personally adhere to the plodding approach. Over time, it works.

    Barbara Friedberg

    August 12, 2012

  5. Nice goals! Unfortunately, my incomes goals were sidelined when I lost my Page Rank. I have been working on restoring it, but it is a slow process.

    I have built up an inventory of article for 3-5 weeks. It takes the pressure off a little bit, knowing I have that much done.

    krantcents

    August 13, 2012

  6. Congrats on the publisher responses. That is great news.

    My income dropped when the advertisers all got hit by the google update and new requirements. Money is slowly starting to come in again.

    I think you have some great goals and I wish you the best with them.

  7. Seems like pretty good progress to me. I’m well short on most of my goals, although I’ve wildly surpassed my goal for traffic on my food blog!

    Edward Antrobus

    August 13, 2012

  8. @Krants, Miss T, and Edward-Thanks for sharing your personal insights regarding your goals. It’s nice to feel like others are pushing forward and dealing with those inevitable ups and downs. Congrats to all three, you are doing well.

    Barb

    August 13, 2012

  9. I’m very much into writing down goals, long-term and then corresponding short-term ones as well. This keeps me directed and on track.

    Separately, seeing success of others fuels me. I’m not into keeping up with the Joneses, so that’s not the motivation. Rather, I like to see what’s possible to achieve, and learn vicariously through others when applicable.

    Squirrelers

    August 14, 2012

  10. I actually have a blue journal that I call “My Ideabook.” In it I write anything that pops in my mind–goals, ideas, things I want to accomplish. I remember in March 2008, I had written down that I wanted to write and publish a book on personal finance for my peers. And I did..I knew nothing about publishing. I even took an evening class at Emory University about publishing. I did complete my book: Moneylicious: A Financial Clue for Generation Y.

    I think one of the great things about hitting this goal was that I learned about publishing (but I would still like to speak with you to learn what you’ve learned along the process), my book received wonderful endorsements–ie.Sharon Lechter (co-authored and co-founded Rich Dad, Poor Dad),and it’s a required reading for a finance class at Cal. State Northridge.

    I’ve received speaking engagements and now I’m putting on a women empowerment conference in April 2013–that’s another goal of mine. Right now it’s in the process–but I’m still keeping my fingers crossed.

    My other goal is to increase my blog traffic before I think about monetizing it and I’ve started on a second book.

    Congrats on all your goals! Keep us posted on your book! I will definitely pick it up.

    Ornella @ Moneylicious

    August 14, 2012

  11. Writing down and revisiting your goals is a smart idea. You not only hold yourself accountable, you get to write down your successes — which motivate you further.
    See you in Denver?

    Donna Freedman

    August 14, 2012

  12. The success of others should fuel your desire to be successful. I think it’s natural when you see other people doing great things, but you can’t let it get to you.

    You should be proud of your traction so far. I’ll be the first to admit that sometimes I don’t clearly write down my goals, but I know it’s something everyone should do!

    Kevin @ SpringCoin

    August 14, 2012

  13. You were fantastic on the show. I’d love to have you back for more. It was the first time we’d talked and it felt like you were an old friend.

    AverageJoe

    August 14, 2012

  14. @Squirrelers, You sound like you have a really healthy attitude, inspiring.
    @Ornella-I like the title; “Idea Book”. And your conference sounds wonderful, please keep us posted!! I would love to promote it for you.
    @Donna-That’s the idea, keep the fire propelling you forward. Look forward to catching up in Denver:)
    @Joe, You are waaaay too kind. Wait til you get to know me:). And, yes, I would love to come back on the show.

    Barb

    August 14, 2012

  15. @Kevin, I like your candor, after all,what would life be like if we didn’t have things to work on? You’re doing some great stuff over at Spring Coin.

    Barb

    August 14, 2012

  16. I’m guilty of not having any goals. Ever since I started connecting with other bloggers and reading what they had to say I’m starting to believe goals are essential. To answer your question: I find others’ success motivational – on one occasion taking my own efforts to the next level which paid off quite well. Things haven’t been the same lately but I’m giving it another go.

    Barbara, I bookmarked your blog feed as a regular read 🙂

    Veronica @ Pelican on Money

    August 17, 2012

  17. @Veronica, Great job keeping persistent, hard work pays greater dividends than talent and brains (IMHO). Great to have you on board.

    Barb

    August 19, 2012

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