This worksheet will help you identify the things that matter most to you as well as areas for improvement in your life. From there you'll choose a word that can help guide you. I usually pick one once a year, but you can start at anytime, and keep your word for as little or as long as it serves you. Once you choose your word, you'll use a Focus Wheel to flush out the word giving it meaning and context. 
How will your word guide you?