The Road to Prosperity

by Krantcents · 53 comments

Post image for The Road to Prosperity

The road to prosperity is not really a road!  In fact, it may not be much more than a path.  It is not a location and it can only lead you to a goal.  It is filled with many curves, dead ends, U-turns, attractions, amusements, distractions and pitfalls. Google or Yahoo maps will not help you get there!  It starts with a goal and a plan.  It is taking that dream you have and making it a reality!  

What stops you?  Is it fear of the unknown or ignorance?  Ignorance can be cured, if you are willing to do something about it.  I often hear young people complain about their chosen career or job.  They are always looking for something!  I am and did too, but running to something will only become serial unless you have a specific goal and plan.  Take some time to figure out what you want!  Remember, it is not enough to just say  you want to have your own business or become rich.  Everyone knows this, but choose to ignore it!  Is it really that difficult?

Goal Setting

I think the difficulty is figuring out the goal.  Everyone wants to be passionate about what they do.  If there is no passion, you cannot fabricate it.  I tell my students to pick something they enjoy doing for twenty (20) hours a day.  They look at me like I just suggested that they jump off the building.  They haven’t found their passion so the advice is meaningless.  Start with things you enjoy and turn it into a career.  It may be a hobby, a class or something that you spend a lot of time doing.  Sports is not only for elite athletes, it can be for accountants, lawyers, trainers, doctors, manufacturers, etc.  You need to expand your thinking and horizon for your career and life goals.

My approach is to start with the outcome and work backwards.  Last April, I wrote an article called Do Your Resume Backwards that details how you should do it.  Taking a dream and turning it into a goal is not enough!  I call that a wish.  You need a plan to make it happen.  A plan may not be enough unless you monitor your progress and adjust your efforts to reach your goal.  Sounds simple, but there is a reason very few people succeed.  The biggest reason for failure is not spending the time to figure out what you want.  Planning goals in life should include career, personal finances, residence, business (if interested), marriage, children and much more.  Then you need a plan to make it happen.

It all starts with a goal and a plan!  I often see people state something as a goal and it really isn’t! I like SMART goals as a way to create goals.  A SMART goal is specific, measurable, attainable, relevant and time bound.  To make goals specific, you must know what is expected, why is it important, who’s involved, where is it going to happen and which attributes are important. Measuring progress keeps you on track, reach target dates and adjust your efforts to achieve goals.  Goals must be realistic and attainable otherwise you will just be frustrated!  A goal that supports other goals or vision would be considered a relevant or worthwhile goal.  Last, you must have a time frame or target date.

What you need

A goal and a plan,!  A goal without a plan is just a wish!  A plan is typically any diagram or list of steps with timing and resources, used to achieve an objective.  I think of it more like a road map.  If you had to travel to some place you never went to before, you would need a map to get there.  Shot term goals are typically achieved in a day, week or a few months.  You may or may not need much of a plan to achieve it.  Long term goals usually are for a longer period of time such as a semester, one, five or ten years or longer.  Having a detailed plan to help you achieve your goals is very important for long term goals.  Part of that planning is establishing short, medium and long term objectives within the plan to achieve the long range goal.  Monitoring the short term objectives and adjusting your efforts is very important to holding yourself accountable for your efforts.

A plan keeps you accountable for your efforts!  Monitoring your progress daily/weekly/monthly gives you the information so you adjust your efforts to achieve your goal.  My plan includes the daily tasks that I need to perform in order to meet my weekly objectives or monthly milestones. These are the steps in a plan that helps me achieve my goals one step at a time.  It also takes a very large long term goal and breaks it down into small pieces that are achievable.  This may be one of the most important parts of a plan!  It helps you achieve big goals over time and holds you accountable on a time table.

Final thoughts

Success in life is not easy!  It takes a lot of hard work and effort.  It takes goals and a plan to succeed.  It is not a five (5) minute exercise!  You have to spend as much time as necessary to create goals and a plan to make things happen.  Many think the rich successful people are born that way or are just lucky.  Neither is true!  Yes, you become luckier if you work hard, have skills and experience.  I think most people think more about what they are going to have for dinner than their career or something else they want to achieve.  Take the time to set goals and establish a plan that will move you toward your dream.  The road to prosperity is up to you!

Photo by:  Flickr

Please make sure to subscribe to our RSS feed to get the latest updates!

{ 48 comments }

Holly@ClubThrifty July 16, 2013 at 4:52 am

Great post! I hope that I am on the road to prosperity~ I have definitely taken the time to clearly define my goals. I know that that is part of achieving them!

Krantcents July 16, 2013 at 7:34 am

Thanks, the more specific you are with goals, the more likely you will achieve them.

Derek @ MoneyAhoy.com July 16, 2013 at 5:36 am

For me, it’s like this:

Dream -> Goal -> Measure -> Correct -> Repeat

Make sure your goals are SMART, and the whole process will work!

Krantcents July 16, 2013 at 7:37 am

I totally agree! Although it seems that creating and setting goals are the difficult parts, actually execution is key to success.

Marissa @ Thirtysixmonths July 19, 2013 at 12:12 am

Me too! The correct part is the most important.

Krantcents July 19, 2013 at 7:36 am

You’ve set your goals and put together a great plan! Executing the plan, monitoring your progress, adjust your efforts and keeping yourself accountable particularly over a long (can be years) time is the hardest part.

John S @ Frugal Rules July 16, 2013 at 6:15 am

“A goal without a plan is just a wish!” I could not agree more! Goals are great to have, and as a visionary myself I love having them. The problem is that a goal really does not tell you how you’re going to achieve it and thus having a quantifiable plan is vital. Great post!

Krantcents July 16, 2013 at 7:40 am

Thanks, it is the execution of your plan that helps achieve your goal.

Daisy @ Prairie Eco Thrifter July 16, 2013 at 6:24 am

For most people, the road to prosperity is a zig-zagging mountain climb. It’s a nice ride though, and I hope I’m at least taking a few steps forward!

Krantcents July 16, 2013 at 7:41 am

If you start with your vision, it doesn’t matter if you zig-zag, because you know where you are heading.

Simon July 16, 2013 at 11:07 am

I like how you break it down easily and make it seem pretty easy to get on the road to success and walk it through! Goals, a plan, lots of hardwork and monitoring/measuring that work and gauging whether its taking one forward. Its never easy, its never smooth or straight…but its worth the journey. Thanks for the solid advice

Krantcents July 16, 2013 at 12:54 pm

You’re welcome! It is much easier than people realize and all you have to do is start down that path.

Alex@CreditCardShoppe.com July 16, 2013 at 11:10 am

The actual road to wealth as you detailed above isn’t rocket science…people just need to be willing to stick to it and realize that there will be challenges along the way.

Thanks for putting the idea in such a simple format.

Alex

Krantcents July 16, 2013 at 1:00 pm

You’re welcome! You need to be motivated or have a compelling reason to get you through the difficulties on that journey to success. There will be plenty of them to discourage or keep you from your goal. Good luck.

Andy Hough July 16, 2013 at 2:10 pm

I need to work on the plans to meet my goals. And once I do that I need to add some more goals. I kept my goals pretty simple this year so I’ll probably meet them even without a plan but since they are on track I’m thinking about adding some more goals.

Krantcents July 16, 2013 at 4:35 pm

Good idea! Goals should be a stretch otherwise it is not a goal.

KK @ Student Debt Survivor July 16, 2013 at 7:08 pm

Great post. I use “SMART” all the time with my clients when we’re working on goals for their service plans. I need to do a better job of implementing it in my own life with my own goals.

Krantcents July 16, 2013 at 8:06 pm

Thanks, it is not that hard to include SMART goals, if you start small or short term! Small steps work when you make changes and the you can add to it or try something bigger.

Sam Gill @ Digital Spikes July 17, 2013 at 6:34 am

A goal with a determination and desire to achieve the same is the way to go. Hope I can go long way with the strong spirit to achieve the same. A clear plan and execution strategy is must to achieve the set goals

Krantcents July 17, 2013 at 7:43 am

You need a compelling reason to stay on track while working on your goals.

Joesph K. Love July 17, 2013 at 6:36 am

Don’t let your goals and resolutions fall by the wayside. Chances are that to achieve your dreams and live a life you love, those goals and resolutions are crucial. Goal setting and goal achievement are easier if you follow these six steps for effective and successful goal setting and resolution accomplishment.

Krantcents July 17, 2013 at 7:50 am

The best way to achieve a goal is to have a plan. The plan breaks down the goal into steps that can be monitored or changed to achieve the goal.

Little House July 17, 2013 at 7:11 am

I like using SMART goals to figure out my path to get where I want to be. I can’t say I always accomplish it in the time frame I set for myself, but at least I have a clear path. I also use the SMART goal system with my students to improve their grades every 6-weeks. Some of my students seem to do a little better thinking through the steps needed to work harder – like taking advantage of the free tutoring, others don’t.

Krantcents July 17, 2013 at 7:44 am

I teach goal setting to my students too. Monitoring your progress helps keep you on track.

AverageJoe July 17, 2013 at 7:35 am

I agree: it isn’t a five minute exercise. Huge planning is required if you’re going to achieve huge results.

Krantcents July 17, 2013 at 7:46 am

I never could understand how too many people spend so little time on something they will do for 40 years.

Terry @ Fix em Up Rent em Out July 17, 2013 at 8:27 am

Several years ago I wrote out my own obituary. I wrote down all the things that I wanted to do as if I had already done them by the end of my life.

I came acoss that old obituary a few weeks ago, and most of the things I had listed, e.g., become fluent in Spanish, live in foreign countries, write books, become a speaker; came to pass.

I am a firm believer in the power of writing down goals.

Krantcents July 17, 2013 at 8:31 am

Obituary? I have thought about writing my eulogy to recap my accomplishments. Writing down goals is the first step to making them happen. The next step is actually putting a plan in place and then monitoring your progress.

Brian @ Luke1428 July 17, 2013 at 12:47 pm

I love the SMART acronym for helping a person identify and work towards a goal. I’ve used it several times in my professional and personal life with great success. I also teach it to my students in our leadership classes. They seem to respond well to it. It’s a great tool!

Krantcents July 17, 2013 at 1:04 pm

Good, I am glad you use it. I teach it to my students in a personal finance class too.

Jacob @ iHeartBudgets July 17, 2013 at 1:13 pm

Love this idea! I reverse engineer all my goals with an actual timeline, because without that it’s meaningless. “I’d like to do something at some point” will NEVER happen!

Krantcents July 17, 2013 at 3:19 pm

A timeframe is part of SMART goals too. Breaking down goals into tasks makes possible to achieve long term goals.

Pauline July 17, 2013 at 5:25 pm

You clearly make your own destiny. I used to settle if life was ok but you can achieve so much more with a few goals.

Krantcents July 17, 2013 at 9:20 pm

Try the impossible! Part of goal setting is stretching a little.

Michael | The Student Loan Sherpa July 17, 2013 at 5:47 pm

Great motivational post! I definitely think that you make your own luck through smarts and hard work.

Krantcents July 17, 2013 at 9:22 pm

Thanks, I agree! It seems luck happens when you work harder.

Anton Ivanov July 17, 2013 at 6:00 pm

I use a very similar “backwards” approach when setting my personal and business goals. I start with big, often abstract objectives (like become financially independent, for example), then make them more specific, divide them into smaller, more manageable goals and finally divide those into every-day tasks I can easily work on.

Krantcents July 17, 2013 at 9:28 pm

You got it! It is really just breaking down something big into smaller pieces that are more achievable.

Untemplater July 17, 2013 at 11:29 pm

Yep it takes a lot of time, dedication, planning, and action to achieve goals and prosperity. Hard work pays off!

Krantcents July 18, 2013 at 7:48 am

I agree! I would add determination seems to trump everything because there are always obstacles to overcome.

Alexis Marlons July 18, 2013 at 6:49 am

The road to prosperity is really not easy. But nothing is really impossible if we work hard for it and have a positive attitude towards our goals.

Krantcents July 18, 2013 at 7:53 am

I have often said that if it were easy everyone would do it! All it takes is a goal and a plan. The rest is just effort and monitoring.

Silver Price July 24, 2013 at 12:32 pm

Break it up. Many people abandon goals because they’re just too dang big. If you’ve done this to yourself, stop now. Change your game plan.

Krantcents July 24, 2013 at 1:50 pm

One of the most important requirements of goals and planning particularly long term goals is to break it down to daily/weekly/monthly tasks or milestones to achieve your goals.

Lena @ WhatMommyDoes July 31, 2013 at 11:11 am

Attaining big goals isn’t easy. “Many think the rich successful people are born that way or are just lucky.” ….I’m not rich by any means, but this type of comment comes my way a lot. I often do things unconventionally and am an extremely hard worker. That often gets pegged as “lucky.”

Krantcents July 31, 2013 at 1:52 pm

Funny , how the harder I work, the luckier I get! It does not always take hard work, but it definitely takes work. Work can mean action, networking or creativity. It does not always look like work.

August Graves August 7, 2013 at 8:14 am

Two things are needed 1) Validation of a plan and 2) Scrubbing tactical alternatives to sift out the ones that will lead to at least partial fulfillment of the goals.

Krantcents August 7, 2013 at 8:33 am

All you ever need is a goal and a plan!

{ 5 trackbacks }

Previous post:

Next post: