Financial success comes in a variety of random unplanned ways. Some could win the lottery, but even those lottery winners all need a plan to stop their newfound wealth to disappear through their fingers. Which is usually the case. Every noteworthy accomplishment starts life as a simple goal which turns into specific action plans.
Wealth creation doesn’t happen by chance. Planning is key. If you’re not the person that writes to-do lists daily, you need to become like that.
A person that “goes with the flow” and sees what happens is not a viable way to become successful. You’re going to spend all that energy on tasks and people that are not going to bring you closer to your specific goals in mind. Plans and attention to details are going to become your new set of friends now.
When you have a conscious choice to be structured in how you use your energy, time and all resources you have, you are making a decision that planning is important to you. It’s making sure that you have all the details correct. There’s always going to be room for good fortune and luck that you don’t expect, but these all tend to happen more often for those that are structured to adopt a PLANNING MINDSET.
A PLANNING MINDSET starts with DETAILED GOALS:
Think about your financial and personal goals. They might be just dreams for you now like “I want to have Php 100,000,000 in my savings accounts” or like “I want to retire before I hit 40 years old” or “I want to own plenty of properties”. Those are nice, as your early draft details.
Using the SMART Goal Framework (read here from my previous blog https://antonioaguirrejr.com/s-m-a-r-t-goal-framework-any-why-it-helps-you-create-goals/) which stands for:
Write down your answer and then re-write your goals as detailed plans. The vague goal of you “owning plenty of properties” now looks like this with the SMART Framework:
MY PROPERTY GOAL
– I will create a Php 100,000,000 property portfolio
– I will do it within 5 years starting today
– I will do it through a number of small rent-to-own properties
– I will do it in areas that are close to Colleges and Universities
– I will take bank mortgage financing options
– I will use the deposits from my savings to purchase it
Notice how detailed you became because of this? Like myself, I write down on a notebook all my personal and business goals and I look at it every morning, even before going to bed. It keeps me focused on what I need to do daily, and not just going with the flow of things, which most people choose to do.
You can create detailed SMART goals by breaking down your tasks with monthly and quarterly targets. You can try using a Gantt Chart to capture the tasks and activities you need to do usually in a week or a month’s time.
Make this as part of your daily habits. Try to do this for 21 days straight and notice how focused and detailed you will start to become with your goals, including how clear it now becomes to you of how/why you do these small things every single day.
Question of the day: What are your goals? Need help with them using the SMART Goals Framework? Let’s talk.