How to set goals for your contracting career

Why Goal Setting is Crucial for Your Contracting Career

Setting clear and actionable goals is a fundamental step in achieving success in any career, but it is especially important for contractors. Whether you're an independent contractor or running a contracting business, the nature of the industry is often unpredictable, with shifting project scopes, changing client demands, and fluctuating market conditions. Having well-defined goals can provide direction, improve focus, and help you adapt to these challenges. Furthermore, goal setting is key to ensuring long-term career growth and personal satisfaction.

In this article, we’ll explore how to set effective goals for your contracting career and offer practical tips to help you stay on track.

Understand Your Long-Term Vision

Before you can set short-term or intermediate goals, it’s important to have a clear understanding of where you want to go in the long run. Ask yourself questions such as:

• Where do you see yourself in five or ten years?
• Do you want to specialise in a specific area of contracting (e.g., plumbing, electrical, construction)?
• Are you aiming to grow your own contracting business or perhaps manage larger projects?

Your long-term vision serves as the foundation upon which all other goals are built. It acts as a compass to guide you through daily decisions and challenges. For instance, if your ultimate goal is to manage a large contracting company, your short-term goals will likely focus on building leadership skills, expanding your client base, and improving your business acumen.

Set SMART Goals

Once you have a clear long-term vision, it’s time to break it down into smaller, actionable goals. A useful framework for this is the SMART model:

• Specific: Your goals should be clear and well-defined. For example, rather than saying, "I want to get more clients," aim for something like, "I want to acquire five new clients within the next three months."

• Measurable: Ensure that you can track your progress. If your goal is to increase revenue, set a specific figure, such as "I want to increase my annual revenue by 20%."

• Achievable: While it’s important to challenge yourself, make sure your goals are realistic. Setting unattainable goals can lead to frustration and burnout.

• Relevant: Your goals should align with your long-term vision and career aspirations. For instance, if your goal is to become a specialist in eco-friendly construction, then your short-term goals should include gaining relevant certifications or training.

• Time-bound: Every goal should have a deadline to create a sense of urgency. For example, "I want to complete my certification in green building practices within six months."

Using the SMART framework helps ensure that your goals are clear and actionable, making it easier to track your progress and adjust your strategies if necessary.

Prioritise Your Goals

It’s easy to become overwhelmed if you set too many goals at once. To avoid this, it’s crucial to prioritise your goals based on urgency and importance. You might have goals related to increasing your skill set, building a client base, improving financial management, or growing your team. However, trying to tackle everything at once can lead to inefficiency.

Start by identifying the most pressing goals that will have the biggest impact on your career. For instance, if you’re just starting out, building a reliable client base may be more critical than pursuing additional certifications. Conversely, if you’re looking to expand your business, improving your financial management skills may take precedence.

Break Down Goals into Actionable Steps

Large goals can sometimes feel overwhelming. Breaking them down into smaller, more manageable steps can help you stay motivated and focused. For example, if your goal is to gain a new qualification, break it down into steps such as:

1. Researching available courses.
2. Enrolling in the course.
3. Setting aside specific time each week for studying.
4. Completing assignments or practical tasks.

By taking one step at a time, you can steadily make progress without feeling daunted by the magnitude of your overall goal.

Regularly Review and Adjust Your Goals

The contracting industry is dynamic, and your circumstances may change over time. Therefore, it’s important to regularly review your goals to ensure they remain relevant and achievable. Perhaps you’ve achieved some of your short-term goals ahead of schedule, or maybe market conditions have shifted, making some goals less pertinent.

Set aside time every few months to evaluate your progress and make adjustments as necessary. This not only helps you stay on track but also allows you to remain adaptable in a constantly evolving industry.

Stay Accountable

Accountability is a powerful motivator. Sharing your goals with a mentor, business partner, or even a close friend can help you stay committed. Some contractors also find it helpful to join industry associations or networking groups where they can share their progress and receive feedback from peers.

In addition, consider keeping a journal or using goal-setting apps to track your progress. Regularly reviewing your achievements and challenges can help you stay focused and motivated.

Invest in Professional Development

As a contractor, your skill set is one of your most valuable assets. Make professional development a key part of your goal-setting strategy. This could involve gaining new qualifications, attending industry workshops, or even learning how to use new software that could streamline your business operations.

Continually investing in your skills not only makes you more competitive but also opens up new opportunities for growth. For example, if you’re an electrician, gaining a certification in renewable energy systems could allow you to tap into the growing demand for eco-friendly solutions.

Balance Career Goals with Personal Wellbeing

While career success is important, it’s equally crucial to balance your professional goals with personal wellbeing. The contracting industry can be demanding, with long hours, physical labour, and high levels of responsibility. Make sure to set goals related to maintaining a healthy work-life balance. This could include:

• Setting boundaries to avoid overworking.
• Prioritising time for family and hobbies.
• Incorporating regular exercise and self-care into your routine.

Achieving success in your contracting career will feel far more rewarding if you’re also taking care of your physical and mental wellbeing.

Conclusion

Setting clear and achievable goals is essential for navigating the challenges and opportunities that come with a contracting career. By defining your long-term vision, using the SMART framework, and regularly reviewing your progress, you can stay focused and motivated on your path to success. Additionally, investing in professional development and maintaining a healthy work-life balance will ensure that your career growth is sustainable and fulfilling.

Ultimately, goal setting is not a one-time task but an ongoing process that evolves as you progress in your career. With the right strategies in place, you’ll be well-equipped to achieve both your short-term objectives and long-term aspirations in the contracting industry.