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Money is a tool. Whatever amount you want, there has to be a reason to want it. “Just because” is not a good reason. You need to be able to articulate why. Security? So you can buy certain things? So you can do some thing? So you can give it away? WHY?
The one thing that will light a fire in you, what I consider the only thing that you absolutely must have, is a powerful sense of purpose – the stronger the better. You need to have one and back it up with clear goals. And the way to do that is to write it all down, and remind yourself consistently. Money by itself means nothing. It’s the motive behind why you want it that matters. Write it down.
Only then will money have any meaning because it will be related to your goals. Now that you’ve written your wishes down, they have become goals. Are they realistic? Maybe, maybe not. That depends on where you’re starting from. Rank your goals with the most important goal at number 1, the next most important goal at number 2, and so forth.
You want to set goals that are challenging but that you are confident you can achieve in the given time frame. Set too high a bar and you’ll be frustrated. Frustration leads to procrastination and wasting time. It gets you nowhere.
On the other hand, goals that are too easy won’t challenge you enough. You’ll be bored, which also won’t bring out your potential. Your goals need to be challenging and realistic at the same time. They need to be balanced. Keep in mind the fewer goals you set, the more focused you’ll be, and the more likely you’ll achieve them.
Remember goals have measurable results. To be rich is not a goal. To have $1,000,000 within 5 years is a goal. To lose weight is not a goal. To weigh 150 pounds within 6 months is a goal. Goals have definite quantitative answers. You can put numbers to them, or you can say “Yes” or “No” they have been accomplished. There is no middle ground. Review the list you came up with at the start of this exercise, revise as needed, and select up to five goals you will achieve within 5 years.
In Two Years
For each one of your goals, how much of each do you think you can achieve in two years? Express these as percentages of your five year goals. Write them down.
For each one of these goals, write the major sub-steps required to achieve it. Prioritize those steps. What comes first? What’s comes next? Write down every main step you can think of.
Why do you do this? To give yourself perspective on what it will be like between now and when you reach your long term goals. It helps fill in the blanks between those two points in time.
The first of your five goals is your top priority. Once you’ve finished the book, keep practicing these techniques and concepts over and over with your first goal in mind. Use your best estimate to set a time frame for completing each of the sub-steps of each of your goals. Revise the time frames as necessary.
Copy your two year goals onto a 3 x 5 index card. Read that card every single day. As you work your way along you will get the hang of it. Keep at it. Then add the tasks for your second goal. Then phase in the third, fourth and fifth goals during the next two years as you begin to accomplish the steps you set out for the first and second goals.
When you start to accomplish your goals, your motivation will improve. You’ll feel more positive, and results will start to come faster and faster. That is what life is like when you are on the path that’s right for you.
To sum up this step look at the two main rectangles below. Assume you were asked to pick one and color 25% of the area with a pencil. Which would be easier? The one that had all the lines drawn already, of course.
When you set a goal you’re defining your dream and dividing it into smaller parts that you can accomplish one step at a time. It gives you direction. Use this technique with every dream you have. Turn it into a goal, and then divide it into smaller tasks that you can do. Consistently complete those tasks and you will reach your goal.
You’ve now set goals for the next two years. For each of those goals, write how far along you will be in one year’s time. What can you do that will put you about half way to each of the two year goals?
Use the same process you used for setting 2 year goals, and add more detail for these goals. The shorter the time frame, the more specific your plans should be. This tells you the exact path to reaching them. If you’re not sure what those steps are, do more research to find out what it will take.
Once you get to your one year goals and tasks, divide them by months. That’s what you can do each month. Now prioritize them. What comes first, what comes second, what comes next?
Are you starting to see the trend here? For everything you do, the most direct way to go about it is to decide what you want to achieve, followed by what tasks each goal consists of, then what step to take next. The key is to always know what to do now, and then do it.
Want to run 500 miles in a year? Try starting with 42 miles a month, which works out to about 10 miles a week. If you run 5 times a week, that’s 2 miles each day. You can’t just go out and run 500 miles. But you probably can go out today and run 2 miles. And again tomorrow, the next day, and so on.
Accomplishing a goal isn’t so much about how big the goal is, but how consistently you can make progress toward it. Over time the accumulation and compounding of your efforts will bring tremendous results.
What if you don’t have concrete tasks you can get started on? Your goals are too vague. Refine them with more definite actions you can take. You should be able to definitely say at any point whether you have finished a task yet or not. It’s a clear yes or no answer. To help ensure that you stick with your plans:
• Look at your 5 year goals at least once a week.
• Look at your 1 and 2 year goals daily.
• Review your to-do list several times a day as you’re completing the tasks.
Take steps toward your goals every single day, giving priority to the ones highest on your list and with the end dates that are nearest to today. Gradually you will achieve your goals.
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