What Is Your Success Strategy?

by Krantcents · 20 comments

Post image for What Is Your Success Strategy?

Do you have a success strategy?  Simple enough, it is a yes or no question.  Then, why do so many people have difficulty answering the question?  There is an implication that if you say no that you are a failure.  So what!  In order to succeed, you have to fail.  All successful people failed at one time or another.  What makes them successful is they kept trying to succeed.

Definition

The definition of success is reaching your goal.  This is important because your goal may have nothing to do with money and still you are successful.  Success in school could be A’s and B’s.  Being a successful parent is helping your children reach their potential and helping them become a productive member of society.  These are goals that have nothing to do with money.  What is your strategy for success?

Goal and a Plan

I always thought all you need are goals and a plan to achieve them to achieve success.  I still do, but monitoring and adjusting your plan is necessary to achieve your goals too.  As I reflect on my successes and failures I realize that I use a strategy for success as well.  My strategy is pretty simple and it has become a habit so I don’t think about it.  How does my strategy work?

Strategy

I start with the things I want, it may be things I need or want to do.  What probably differentiates me from other people is my approach.  I look at these things as a problem and how am I going to solve it.  I think it is because I had early success with math so everything is a math problem.  I wrote an article called Do Your Resume Backwards! which embodies my strategy for success.  In math, approach is everything!

Approach

What is my approach?  I start with the outcome or end in mind.  What should my retirement look like?  There are a lot of parts to retirement, sufficient money to be comfortable, lowering my expenses and most importantly  how am I going to do it.  Execution of my strategy is as important as the strategy itself.  Measuring success is simple , it is whether reached your goal or not.

Execution

Execution is many decisions related to the outcome or goal you want to achieve.  Successful execution is making more right decisions than wrong decisions!   A lot is dependent on your judgment which is only as good as your decision making ability.  I see it as how good is your problem solving ability?  This is a real world test on you r math skills!  It wasn’t only about learning how to add or subtract numbers.  Math teaches you problem solving, logic, organization skills and helps your judgment.  Hear that young people math will affect the rest of your life!

At times I feel like a juggler or the guy who is trying to keep all the plates spinning at once on those sticks.  The strategy is understanding short and long term goals and what you are trying to achieve in the end.  I use a variety of things to help me achieve my goals.  I  am always thinking about wnat I am trying to achieve and break it down to tasks to do on a daily/weekly/monthly basis.  Doe sit work?

Final Thoughts

My strategy is based on games of strategy such as chess, monopoly, Chinese checkers or card games.  I like winning which is not that unusual because I never met someone who likes losing.  I start with the outcome and work backwards.  I develop goals and tasks that support the outcome.  My plan is monitoring my progress and adjusting my efforts to reach my goals and ultimately the desired outcome.  Execution of a strategy that keeps the outcome in mind is the basis for success.  Do you have a success strategy?

Photo by:  deanmeyersnet

 

 

 

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

{ 16 comments }

Miss T @ Prairie Eco-Thrifter September 26, 2012 at 8:29 am

I am definitely task and list orientated. When I want to accomplish something I write down all the things I need to do to get it done and then I start going down the list and checking them off. It works quite well.

Krantcents September 26, 2012 at 4:15 pm

I am a list person too. My list is tasks I need to perform daily or weekly. I keep my goals in front of me to stay motivated and focused.

maria@moneyprinciple September 26, 2012 at 8:33 am

Interesting! I think that I am passion and interest oriented – I have very low boredom treshhold. This is why a lot of my energy has been going on keeping myself passionate and interested so that I can not only complete my projects but also go through the dissemination phase (for most of my life I skipped the last one thus reducing the impact of my work and the benefit for me and my reputation).

Krantcents September 26, 2012 at 4:17 pm

I become very single minded when it comes to goals. I stay at it until I am successful. Sometimes it takes longer than I realized.

AverageJoe September 26, 2012 at 8:52 am

I think my success strategy is the same as yours. I’ll only add one point: mine also involves making sure I network with like-minded people. Because I strongly believe I am what I think about, I try to stay away from people who are downers or are a “cluster of misery.” I DO enjoy networking with people who think differently than I do about things…I enjoy broadening my horizons….something I think I need to be successful.

Krantcents September 26, 2012 at 4:20 pm

My circle of friends are very successful. I avoid complainers because I have no tolerance for people who just complain and are unwilling to do something about their problems.

Kathleen @ Frugal Portland September 26, 2012 at 12:05 pm

I’m confused — how is “what is your strategy?” a yes or no question? If that wasn’t a typo, then my strategy is YES, always!

Krantcents September 26, 2012 at 4:23 pm

Thanks, I made the change! I think I had a disconnect between what I wrote and what I thought. Most people rarely plan their future never mind have n actual strategy.

MoneySmartGuides September 27, 2012 at 3:10 pm

I am task and list oriented. I list everything then break them out further depending on importance. Then I start to tackle everything.

Krantcents September 27, 2012 at 4:34 pm

I do something similar although it is tied to my goals and plans too.

Shawn @ PipsToday October 4, 2012 at 11:03 pm

I have a strategy but it is not converted in success strategy so far. I am a new investor, trader and due to this my strategy includes all points share by you here. Despite it, I did not get desirable success till now. I am guessing that lack experience is the biggest hurdle in my success.

What do you think?

Krantcents October 5, 2012 at 9:28 am

I don’t think I have enough information to assess it. You can evaluate your investment strategy somewhat easily by comparing your results with benchmark numbers such as the S & P 500 or some other benchmark. I am constantly evaluating my strategy to see how effective it is.

Shawn @ PipsToday October 5, 2012 at 9:58 pm

Thanks for your response and tips. I will go behind your suggestions.

Krantcents October 6, 2012 at 7:38 am

you’re welcome. When monitoring your progress , it is always best to compare your results against objective criteria.

Derek - Freeat33 October 17, 2012 at 7:23 pm

My strategy involves dreaming. Yep, I’m a dreamer. I usually think about what I want and while lying in bed or driving, I imagine possible failures and what I would do to avoid them. I try to come up with every possible scenario.

Then when I am pursuing my goal I find things neatly fall into place.

Krantcents October 18, 2012 at 6:59 am

Being able to visualize success or your goals is important! I used to do that when I interviewed for jobs. If I couldn’t visualize being there , it usually didn’t work out.

{ 4 trackbacks }

Previous post:

Next post: