Wealth Creation – Rule 2 (Goal Setting)

Wealth Creation – Rule 2 (Goal Setting)

To create wealth, you must recognize the importance of goal setting.To start with, what is a goal? Simply put a goal is something  one hopes to achieve within a given time frame. It is synonymous to aim. Goal setting is very important for

anyone that truly wants to create wealth. So much has been said about goals by so many renown scholars. One this context let me use the popular tag “SMART” to explain what goal setting entails. The letter “S” stands for specificity i.e   goals must be specific.

For instance, you cannot say you want to build a house without first knowing whether you are to build a bungalow or a duplex. Once your goal is specific the propensity for you to create wealth becomes viable and imminent .

The letter  “M” stands for measurable in terms of quality or quantity. Let me quickly interchange measurable with manageable. Your ability to manager your goals like a manager tells if you are going to create wealth or not. In otherwords, you should be able to both measure and manage your goals effectively. “A” stands for achievable. Someone who must create wealth must be able to set goals that he or she can achieve. Some projects people start up are referred to as elephant projects because  most times the projects are bigger than what they can achieve. So, set goals that you cant achieve. Let’s take for instance, imagine a blind man saying he wants to be a pilot. How possible can that be? Your guess is as good as mine. “R” stands for realistic or  reliable. A person who must create wealth must first put into consideration if such goals are realistic or reliable. Once this has been ascertain then wealth  creartion becomes possible .We are in a physical world where everybody wants to see things that are real and reliable “T” stands for time. To me, this is the most important because I see time as an asset on its own. Based on time ,goals can be short term, middle term or long-term. So determine first if the wealth you are to create is to be achieved within the short, middle or long term.

Goal setting is one important rule for wealth creation. What is you take on this?Leave your comments below.