When setting goals, consider the benefits of achievement and the resources required. The Economy of Goals means that benefits must exceed the cost in order for us to invest the needed resources. Goals are challenging, by definition. We can expect to encounter risk, uncertainty, perhaps failure, and quite likely fear along the way. The resources we need to accomplish goals can also reveal the strengths we need to persevere. Resources that are often needed to accomplish goals include:
- Time
- Energy
- Abilities
- Mind (and Money)
To set and reach for goals means embracing effort, expecting challenges, and expanding to the edge of the comfort zone. Facing challenges takes courage, because it means there can be setbacks. Amy Shoenthal delves into this topic in her TED talk How to turn setbacks into success, and her book The Setback Cycle (Amazon affiliate link to the book provides a small commission that helps to support the Daily PlanIt). There are things we can do if we experience failure or make mistakes. We can confront fear and change our mindset. Before we get to resources, the cycle she describes includes:
- Establish: Recognize and acknowledge that you are in a setback.
- Embrace: Get uncomfortable to analyze what went wrong, taking responsibility for your part while understanding external factors.
- Explore: Experiment with new ideas, merge passion with strengths, and lean on your community to find clarity on what’s next.
- Emerge: Take action, even if it’s scary, to move forward with the new clarity gained, understanding that this process builds resilience and creativity.
My extended thoughts about how skills can help us prepare for setbacks:
- Expect: Cultivate courage with small steps.
- Engage: Reveal resources and identify strengths.
- Enlarge: Get a bigger perspective with creativity.
- Expand: Grow to the edge of your comfort zone.
Here is how resources can reveal strengths.
- Time. When do you lose all track of time and feel flow? When did you solve a problem? How can you start to manage time?
- Energy. What tasks excite you and consistently energize you? What is a project you are proud of? How can you manage energy effectively?
- Abilities. What are you good at? What is easy for you to do or learn about? (see Discover U) How can you develop skills and be your best?
- Mind. What do you love to learn about? When are you most creative? How can you increase awareness, tend to focus, direct self-talk, cultivate creativity?
Supportive community is another resource that can help us reach goals.
• Gain input from others
• Learn in public
• Outline thoughts
• Work collaboratively
• Spark creativity with social connections
Learn more at Discover U, and find more TED talks by speakers who are also authors at TED Talk Book Discussion.

[…] is a basic economic principle that the benefit or value of a product or service must exceed the resources required to obtain it in order for it to be chosen. In other words, if we think the price is too […]
[…] ‘er up. Resources needed for goals include Time, Energy, Attention, Mind, and Money. Look at balance in life areas […]