Five Keys to Success
The concept of wealth is of significance in all areas of economics, especially development economics, yet the meaning of wealth is context-dependent and there is no universally agreed upon definition. But I will say this, wealth is not the same thing as money. The concept of wealth is relative and not only varies between societies, but varies between different sections or regions in the same society.
Creating Wealth is a matter of the mind and it’s much different than getting rich. If you plan to get rich by creating wealth, you have to know what people want. Gulf Arabs are example of riches without wealth, they do not see the point of applying knowledge to the work of building, researching or creating new things. They simply allow someone to suck oil from under their feet and thus become rich but void of wealth.
The man who becomes rich is, in a measure, successful but only so far as the acquirement sharpens his intellect, broadens his powers, and develops him into a self-reliant, powerful member of society for its good. There is one criteria by which success can be fairly measured, that is the estimate placed upon us by our fellows. God said He gives us the power (ability) to get wealth. If we would focus on wealth, riches would follow.
The Five Keys to Wealth are
Vision:
Vision clears the clutter and gives you direction, energy and hope. A vision statement in my life helps me think about the different things that I want to accomplish. Creating a compelling sense of direction for your life is imperative. Unlike a goal, a vision or mission rarely changes. An effective personal vision includes all the important elements of your life and career; it is who you want to be, what you want to do, how you want to feel, what you want to own, and who you want to associate with. Although your personal vision helps you to see into the future, it must be grounded in the present. A personal vision is simply a picture of what success looks like, an idea of what you may want to achieve with your life.
Planning:
A successful new entrepreneur starts their planning with themselves and not their new business idea. First, you need to be clear on what, exactly, you are planning for. Then, structure for yourself a plan in writing, it doesn’t have to be complete but you do need to start with a few ideas.
Goals:
Have you ever wondered why so many people have read, “Think and Grow Rich,” and hundreds of other self-help literature, yet struggle to accomplish their goals? (Only a handful of people ever reach their goals and those who do never share their secrets). It’s because they never set goals and follow through. A goal is where you expect to be or what you expect to accomplish in any given time frame. You could say, “in the next 30 days I will have my own Blog up and running”, that’s a goal. Every plan should have at least three or four new goals every year.
Objectives:
So you’ve got a vision, a plan, and some goals, great! But they won’t work without objectives. Objectives are simply a list of things that must be done to cause a goal to come to pass. Anyone can achieve their financial goals if they have a plan, use discipline in executing that plan and take actions in accordance with a financial destination. As each of us have different goals and objectives for ourselves, each of us will have to sit down and chart out our own course in achieving them. Increased wealth is simply an indication (a measuring stick) of goals achieved and milestones met.
Action:
Effective action is a function of efficient planning. Whether a person builds substantial wealth in their lifetime is left up to the decisions they make and the actions they take. Anyone can achieve their financial goals if they have a plan, use discipline in executing that plan and take actions in accordance with a financial destination. The greatest vision and plan in the world is worthless unless actions follow.