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Goal setting is a topic that's talked about all over the place, right? It's almost to the point that no one's paying attention anymore. But here's the thing. People are really great at setting them, but actually realizing the benefits, the end goal that they have actually are wanting to pursue. Why is that such a disconnect?

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The quality of your house, the quality of this structure is only as sound as the foundation that it rests on. And so much of our thinking, so much of our goal setting is faulty because we're using faulty software.

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What if you could build a business in the modern world as big or as small as you want without having to compromise the things that were the most important to you in the very beginning? This is the Wealthy Consultant Talks Podcast with Taylor Welch and Mike Walker, and they share with you today their learning lessons from stories in their experiences over the past 10 to 15 years.

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Let’s get into it. Hey, what's going on, my friends? Mike Walker here. Excited to have you join me on another episode of the Wealthy Consultant Podcast. Hey, goal setting, goal setting. It's a topic that's talked about all over the place, right? It's almost to the point that no one's paying attention anymore.

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Whether you come from the personal development space, the leadership development space, or the business development space, it doesn’t matter. Everyone's very, very familiar with goal setting. But here's the thing. People are really great at setting them, but actually realizing the benefits, the end goal that they have actually are wanting to pursue.

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Why is that such a disconnect? You know, they set the New Year's resolutions and all the things, right? And then you look back 30, 60 days later, and they're not even on a radar anymore. Why? Because of the psychology that that goal setting is built upon. See, the quality of your house, the quality of this structure is only as sound as the foundation that it rests on.

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And so much of our thinking, so much of our goal setting is faulty because we're using faulty software. Today, I want to introduce you to a concept that Taylor talked about on a new challenge that we're just launching for our chamber clients. It's the 10X Your Year Challenge.

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One of the elements that we really want to zoom in on right away at the very, very beginning of any type of goal-setting environment is the virtues and values. Virtues and values. Taylor's going to dive in. So let's just get right to it. I know you're going to love this one.

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You're probably going to want to listen to this more than a couple of times because it's a little deep, but I promise you, if you let it, it's going to flip your paradigm upside down, and it will absolutely change your life and how you view goal setting from this day forward.

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Enjoy. I know you're going to love it. Share this one. It could probably bless someone else's life as well. Take care. Finite exercise to create winnings at an infinite level.

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And so we play finite games. Your business right now is transient, which means it will end at some point. The projects that are important to you right now are not going to be important, probably forever—even if it's a big mission, a 100-year vision.

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And I think in a couple of weeks, we're gonna talk about 100-year visions to 10 years to 1 year. So 1 quarter, we're gonna work it all down and chunk it all down. It's gonna be so much fun.

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But everything that you do, regardless of how big it is, is all temporary. You're going to play these finite games that can get you a little bit closer to your long-term mission.

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But every time Michelangelo went 10X, you know, he was doing so by committing and completing seemingly impossible projects. And then his freedom would expand because of that.

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But here's where we begin to divert from the normal train of 10X thinking. I've done so much study because of the book that I'm in progress with right now for belief architecture, mental durability, that I can no longer view 10X without viewing it through the understanding of value and virtue.

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And so we're going to talk about that today. Freedom in and of itself is only motivating to the extent that it allows you to adhere more closely to your values. If you've ever had a big win that you didn't feel that great about, more than likely, you are experiencing a confusion of values.

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And so you might achieve something that's important that knocked off one value. And it scratched that itch, but there's another value somewhere hidden in the subconscious that is causing you simultaneous discomfort. Even though you just had a winning moment, you're now uncomfortable because there's another value.

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If something pushes you forward or up the corporate ladder, but it doesn't put you closer to the ultimate view or ethos of who you want to be on planet Earth, it's not going to be fulfilling.

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Albert Bandura has worked on observational learning, and observational learning is essentially just like the models for how we learn through exploring and seeing. But we can also use observational learning with ourselves through practice.

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So he explains that our actions generate value for ourselves by showing us, proving to us that we possess the traits that we value in other people. This is huge because what this means is that even if it's not a record-setting type of feat of engineering or a record-setting business revenue month, we can create so much fulfillment and personal value if it proves to us—and to others—that we have the traits that we think are really important.

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So when you own a business, think about your business. The goal is to create and steward market value. Market value is what someone else is willing to pay you for your business. But if we take the same concept and we apply it to personal value, we're entering a different realm.

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Personal value is the amount of value we place on our own behavior and our own achievement of being who we want to ultimately be. And when we do this the right way, we can create a portfolio of value internally that far outweighs the market value of what anybody else would pay for what we own.

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Our most rewarding experiences—this is from Schwartz's theory of basic values—our most rewarding experiences align with our assessment of our personal value. So when you wake up in the morning, like fully wake up—not just get out of bed, you know, like I wake up and it takes me like an hour to fully wake up—but when you're awake and coherent...

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When we believe that our lives right now are matching or at least aligning with what we believe to be valuable, then we are happy, and we are inspired. When we wake up in the morning and we feel like there is a discrepancy or a delta that is getting in the way—where we're not close enough to what we feel is valuable—then we are unhappy.

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And we are now deeply unmotivated to do whatever is not going to take us to fixing that delta. So this is not a net worth thing. This is more of a net personal value. And this all comes down to alignment.

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This means that the only way we can effectively hang on to the level that we ultimately ascend to is by being the person we've always wanted to be while we are there. If at any point we feel that we are not in alignment with who we wanted to be, we will sabotage ourselves to return back to our most recent points of alignment.

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This means that even if you cross over an incredible thing in your business—let’s say you set a revenue record—but you don’t align with the type of person that you want to be, your values are not lined up, your virtues are not present, you will actually subconsciously do anything you can to get yourself to go back in time to the last noted point where you lined up.

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If this is true, it means that the most important activity we must complete before selecting our big targets is selecting our values and creating a portfolio for ourselves so that our key drivers are in place, and we want to move forward.