The Power of a Written Goal (Jim Carrey Was Right)

Originally sent exclusively to The Letter subscribers on March 24th. Want to be the first to get my personal newsletter in your inbox every Monday at 7am? Subscribe for free here.

I don’t know why it works, but it just does.

The other day, I looked at my Apple Notes section and scrolled down to reminisce on past thoughts from years gone by.

Thanks to cloud computing, a decade of collections is here for me wherever I choose to wander down memory lane.

Usually, my notes are composed of challenges related to cash flow, conundrums I have faced, or audacious goals made high in the sky during some transatlantic travel hops across the globe, this was before the planes had internet.

Do you remember the days when we had to wrestle with simple thoughts, relaxation and movies? Now 747's and Dreamliners have just become an extension to your office - 30,000 feet up!

I’ve always been a prolific goal setter, and committing my thoughts to paper - or in this case, the screen - has been an amazing stress reliever and a foolproof way of predicting my own future.

It's like my notebook has become my own personal fortune teller complete with crystal ball - I can read my own cards by simply commiting the future I want to paper.

I was amazed at how many of my goals from ten years ago had been achieved.

I clearly recall the doldrums I faced at that time, feeling so overwhelmed that I had to type them up to gain clarity, such as finding £50,000 for VAT and payroll in ten days.

I don’t mind admitting that these days I can muster £50,000 like a hot knife through butter; these days I often write down: “I need £500,000 for this and £750,000 for that.”

This week, my companies paid HMRC over £500,000 in a single week in a cocktail of turnover taxes.

I started this obsession with writing down goals and challenges after it appeared in countless business and personal development books that I devoured in my youth.

It’s so simple yet such an effective hack.

I first heard of it after listening to an interview with my childhood hero, Jim Carrey.

Jim told the story of how he wrote a cheque to himself dated ten years into the future for many millions of dollars.

He signed it and specified it was for “acting services rendered”, carefully dating it and keeping it safe in his wallet, carrying it everywhere he went.

The year he wrote the cheque was 1985; in 1995, he got the contract for The Mask.

That was the day he could cash a cheque for that value and more.

Without getting too woo woo, I can’t explain why it works, but it does.

You make it happen like a contract you make with the bank to pay your mortgage every month.

My notes section contains goals like having a loving family, taking health and expertise seriously, creating a liquidity event, buying this, and achieving that big, hairy goal, while ensuring that conundrums like those I faced before never present themselves to me again by implementing XYZ.

Mostly, they are all accomplished, with just a few remaining and I'll have those ticked off soon too.

Committing a contract to yourself helps you think clearly about what you want.

It has made me obsessive over my goals and has helped me manifest how they may become possible.

One of my goals was to get 100,000 YouTube subscribers; I pursued this because I struggled for a number of years to break through, but I knew it would help my companies if I had influence.

Writing it down kept me on the treadmill of mastery. By doing so, I deepened my understanding of content marketing, never giving up when no one was watching or caring.

Personally, when I write things down, my ego doesn’t want me to let myself down, even if no one else cares.

I often feel like I haven’t achieved enough or made enough of an impact with the resources, knowledge, and talent that I and my teams possess.

I have often stated that the bigger you think, the more you can achieve. It’s very true; small thinking leads to small results.

That’s why I am a big fan of the saying, “Most people overestimate what can be done in a year, but underestimate what can be achieved in ten years.” 10 year thinking - forces you to think bigger.

I’m annoyed that in the last six months, we bought two £10 million revenue companies (Camp Beaumont and Cafe Deli); I’m annoyed because I should have had the vision to pursue deals of this size two, three, or even four years ago.

I feel like I can do these deals for breakfast now - my goodness, I'll tell you this for free - they’re much easier to buy and run, simply because size and profits at this level gives you leverage.

Let me tell you a story that highlights my previous foolishness.

Two years ago, I went to see a business for sale worth over £10 million. They wanted over £13 million for it. I immediately dropped the deal like a hot potato just because of the price.

I felt I wasn’t worthy of such a number.

It made over £2 million a year in profits, had stock valued in the millions, freehold property, excellent systems and management, and was a highly respected establishment within the industry.

It is, and was, a great business; it’s more than just business - it's the pinnacle of success - it's an investment. My small-minded mentality said:

How will you get the money?

That’s a big number.

You’re not experienced enough.

I also wanted a great deal - i.e., to pay as little as possible. I didn’t even make an offer once I heard the price they wanted. Idiotic me.

The seller wanted a fair price for a great business, and I walked away - stupidly.

In hindsight, I should have paid the fair price considering the other deals I have completed, which were great prices for fair businesses that sucked up my personal time to make them amazing, this business was already amazing.

I reached out to the seller two years later, just last week. We’re meeting up to discuss a potential deal; why not?

I sent the seller a quick message ahead of our face-to-face meeting in a few weeks’ time, asking, “If I pay you a lump sum upfront, will you let me pay the rest over time?”

He said yes. I’m in.

I’ll use some of my own money, some from the bank, and some vendor finance.

Then I’ll add their management and systems, along with their impressive roster of customers, to our ecosystem - if we do a deal.

The upside of this deal joining our group is incredibly mutually beneficial.

Working in unison will save and generate money overnight, just like the acquisition of Cafe Deli our food and drink wholesalers did for all our establishments by keeping cash flow in our empire.

Synergies like this energise me like sunny days do for ice cream sellers.

The past few paragraphs are me stating a goal to you that I want to achieve; I’m writing it down, seeking clarity with myself with each keystroke.

I’ll give it my best shot and report back in a few months.

This week, I circulated a 90-day plan to my senior team, filled with improvements and ambitious goals, with a prominent headline: “To build a £100 million company with a £10 million profit by Christmas 2026.”

That’s my aim to double where I am now. Why not?

Behind the brains of the successful are rare and protected forms of leverage.

I believe that goal setting, determination, and visualisation are the common threads. Yes, you need intelligence and talent to help, but the funny thing is that they all tend to show up when the vision is powerful enough.

Just ask Walt Disney, Winston Churchill, or even Jesus Christ.

Remember, most wealth is not inherited; it is created in Generation 1.

So, why not you? And why not now? Why not see what you can create and achieve?

If you want a little more success in love, life, and entrepreneurship, try my hack of writing it down.

Lastly, I’m not all “happy clappy” and woo-woo about life with manifestos like a preacher of positivity; things get me down too. I get angry, and you know what really boils my blood? My hotel room kettle.

Until next week.

To your continued success,

James.

PS. I’m hosting an evening show at the Leicester Square Theatre in June, it would be great to se you there - Details here.