Planning for Success
Embarking on life's journey without any goals is like setting off into the unknown without a map. How many of us would start any journey without a clear destination in mind?
To illustrate the importance of setting goals, in 1970, a class of management graduates at Harvard University were asked about their goals for the next 20 years. The results were telling:
- 65% had no goals
- 30% had aims they could discuss
- 5% had written goals.
Twenty years later, the graduates were tracked down.
- Those without goals were either struggling financially or relying on family or state support.
- The 30% with verbal goals had achieved their desires and were relatively well-off.
- Remarkably, the 5% with written goals had accumulated more wealth than the other 95% combined.
Which group do you want to be in?
Keeping plans in your head is not as effective. Your goals need to be SMART:
- S – specific – describe exactly what you want to achieve
- M – measurable – include a metric with target that indicates success
- A – achievable – set a challenging but realistic goal
- R – relevant – goal must align with your overarching plan and vision
- T – time – set a deadline for achieving the goal
If you want help with setting SMART goals come and speak with one of the team at Rural Chartered Accountants.