I practice--but not as much as I should. And I'll admit I lack discipline and focus, so I fail at anything like a grand scheme or a year long master plan. Instead I'll identify one thing I want to learn or get better at and practice that like nuts. Since I get bored easily, I always stop and apply what I've learned on the way, just to keep motivated.
For example: I want to get better at arpeggios as lead devices. So I figure out a bunch of arpeggios who's root notes walk up the major scale in a given key (obviously I'm using arpeggios from the same key.)
I just bang on those arpeggios, slow, medium then faster. FWIW--on something like this I start w/an electric but unplugged in a quiet room. After I get better I'll have some fun and add the hi-gain!
Now here's the part that makes it work for me. Even before I'm a GOD of ARPEGGIOS (I mean I'm still just starting) I'll record a chord progression with maybe some drums and bass, and I'll start jamming w/what I'm learning. First I'll force myself to ONLY use arpeggios--not realistic, but that's great practice and they sound better over a backing track. Then I'll play a more realistic lead--a lot of my normal approach but with the new arpeggios mixed in.
Next up, plain old practice again. More patterns, same patterns faster, whatever. Then jam with that. And on and on...
The mix of practicing and applying it in my playing right away so I can hear the growth keeps me motivated.