Goal Setting for the New Year
Time to fine tune your Perspective and fix your Goals
1) Start of the year and Goal Setting comes to mind
2) Setting Goals for Business, Income, Health and Relationships are crucial
3) There can be more parameters too like Holidays, Learning etc but as we add more and more points they do interconnect somewhere and too many parameters may lead to ultimate confusion. So have few parameters and track them well
4) in this context of Goal Setting, it’s very important to distinguish between Business and Income Goals
5) Most of us (90% I guess) find it difficult to express Business Goals with Clarity
6) We more often than not confuse our Business Goals with our Income Goals
7) A separate classification for Income Goal is an indication that we need to articulate our Business Goals better and with more Clarity instead of expressing it as a derivative of Income Goals
8) Inability to segregate Business Income becomes the nemesis of many a businesses and brings about their ultimate downfall
9) Instead of giving energy for the business to grow (which it should) money expressions along can instead slow down the business and make us complacent because it loses its inspiration power
10) Growth of Business needs more than the Fuel of Income for sustainable long term growth
11) So what is Business Goals then?
12) First and foremost we need to look at our business as a separate entity; an asset, a brand, a legacy for our legal heirs and the world at large
13) Linking Business with only Earnings and Money is not Business but just an Opportunity
14) So the question is have we identified an Opportunity or are we running a Business with a Vision
15) While every business has to have a business model to study it’s viability and sustainability but all that is a backend calculation to determine the viability of the business and whether to “go” or to “not go” with it.
16) Hence nobody is saying that money isn’t important. The question that goes abegging is how important and vital?
17)Apple wanted to transform electronics from boring square looking instruments into aesthetic well designed fashionable easy to use products.
18) Titan made the time keeping instrument into an ornament and made people to build a collection
19) A Hospital Business will think of developing a 5000 bed next generation hospital, friendly, something that smells and feels like a hotel
20) A financial product distribution business can create massive awareness about the concept of Financial Freedom for the youth
21) Business Goal could also be to help 500 families understand the Power of Money and live better lives than to Mindlessly Invest and die rich and live poor
22) Business Goal could be to be seen as the company to show it’s customers the path to get the right amount of money at the right point in time
23) A business goal / objective needs to be injected with emotions
24) It has to be a derivative of the Business Vision
25) If the Goals are not clear and articulate and do not support the Business Vision then the latter is just a dream on paper and not a plan in the mind
26) Money and Income are the greatest motivators till a point it time
27) That point is called Financial Freedom when you have got enough cash flows till you walk into your grave
28) And ironically the “Enough” moment arrives fairly soon in life.
29) Unfortunately this point of Financial Freedom is missed by people and they simply continue to do stuff as they had been doing till then and Mindlessly continue to chase income
30) The moment we reach Financial Freedom and are aware of it, the law of diminishing marginal utility starts to play it’s role of reducing our happiness day after day
31) Hence unless one can separate business from income, the long term will not be inspiring to do great work and to live a great life
32) It will also directly or indirectly hurt health and relationships
33) Eventually your business vision and goals if well aligned, create a timeless legacy, a brand, an asset, an employment generator, an Influencer for the ecosystem
34) And of course wealth will certainly be an outcome of running a great business with well aligned business goals
35) This is the wealth of valuation i.e. the Wealth the World confers upon your business by wanting to own a small share on it
36) Valuation Wealth is the highest form of Wealth. It is the Wealth awarded to you by the world
37) It is not just Wealth but also the Blessings of millions of unknown people
38) This is how Apple, Google, Microsoft, Amazon, Oyo and even closer home & industry brand NJ are experiencing
39) Wealth is the means to the ultimate vision of transforming the world, making it sustainable, making it relevant for the times and most importantly taking the world forward
40) In the initial part of life income clearly is the priority. But later as income and wealth grows things have to change
41) Those who cannot comprehend this change will chase the wrong ball throughout life and lose out on the joys of creating and leaving behind a business legacy, enjoying peaceful health & Awesome Relationships
42) Time to smell the coffee and distinguish between Business and Income Goals
43) Remember a Great Business will certainly Produce Wealth but a Large Income may not build a Great Business
I rest my case
