What is Your Premortem for 2025?
What is Your Premortem for 2025?
As you think back on 2025, why was this your worst year ever?
That’s not typically the thought exercise we go through when preparing for a New Year. But one possible reason over 90% of people fail at their New Year’s resolutions is that they haven’t thought enough about, well, failing. The rush of enthusiasm and excitement we feel as the calendar turns to a blank page can fill us with unrealistic expectations. We become so certain that we’ll accomplish the goals we’ve announced on social media that we don’t consider all the things that could trip up our progress.
Many businesses begin their year by proposing ambitious projects and then holding a “premortum” meeting where team members explain why the project “failed.” Some common premortum conclusions might help you refine your 2025 goals, avoid pitfalls you might be overlooking, and boost your Return on Life this year.
- My goals weren’t SMART enough.
The desire to make big changes in our lives often inspires us to set big goals. But sometimes, “big” is too big to actually accomplish. If you’ve never been much of a runner, you’re not going to run a marathon this fall. Do you even really want to?
You can, however, use the SMART framework to set a more realistic running goal that could get you moving, improve your health, and maybe even help you build from 0 to 26 miles. A more Specific, Measurable, Achievable, Relevant, and Time-bound goal might be to run for fifteen minutes, three mornings every week. As that goal gets easier, raise the bar: fifteen minutes, every morning. Then twenty minutes. Then half an hour. Then five miles. Even if, by the end of the year, a marathon isn’t realistic, you’ll have made meaningful progress, day by day, step by step.
- I didn’t assess my risks.
What happens to your exercise goals if illness or injury sideline you for a week?
Is your business plan built to withstand another bout of inflation? Supply chain issues? Customer churn? A nimble young competitor? AI? A global pandemic?
Aiming to ramp up your saving rate this year? What potential expenses could throw off that goal? Is your car’s “check engine” light a warning you should stop ignoring? Is that leaky spot in your roof going to make it through another spring? Are you counting on a promotion that might not happen?
These are the kinds of details you might overlook or wish away when you’re so focused on an end result that you don’t think enough about how you’re going to get there. But perhaps the biggest benefit to identifying risks is that when you have backup plans for the things you can anticipate, you’ll be in a much better position to react to things you can’t anticipate. Or, in light of the risks you identify, you might go back to the drawing board and make a better plan with a higher probability of success.
- I didn’t hold myself accountable.
A daily to-do list, posted right next to your computer, will help you move through your most important tasks.
A smartwatch alarm or a workout buddy will get you off the couch and on the bike trail even if it’s drizzling.
A reading log will keep the pages turning.
And a surprise date night with your spouse can help you celebrate a new savings milestone and feel more motivated to hit the next one.
A little accountability can go a long way towards helping us maintain progress on our goals. And a Life-Centred Financial Plan can help you keep your money in sync with the various things you want to achieve this year. Let’s talk about how our process can minimise the risk of failure and maximise your successes in 2025.
