How to Develop an Effective Strategy To Reach Your Goals
53804
Finance
Nov 9, 2007
ayrhaven
How to Develop an Effective Strategy To Reach Your Goals
You can have all the drive and energy, but without the right strategy, you will never get what you want. By the same token, every outcome is possible, given an effective strategy. For example, imagine yourself as the small business owner of a fruit shop that makes $10,000 in profits a month. Let's say that you decided to set a goal of increasing profits to $15,000 a month. Would that be possible? Probably. You could work a lot harder, raise prices, increase trading hours, sell on-line or create a loyalty program. What if you set a goal of making $3 million a month from your fruit business? Would it be achievable? Most people would say, 'of course not, there is no way you can make that kind of money from a fruit business like that!' True enough. Making $3m a month from that fruit business is impossible, if the owner continues to use the same business strategy. Yet, if he were to completely change the way he now does his small localized fruit business, would it be possible? For instance, the strategy he could use would start by his studying how to greatly expand his market: he would write a dynamic business plan, raise capital through investments, invest in R & D to develop a superior brand of fruit (for eg. Organic certified food products are seeing phenomenal growth everywhere as people become health conscious) and widen his range of fruit (eg: offer sun dried fruit without sulfur, candied fruit using organic sugar, pureed fruit rolls for kids), support reliable new suppliers, build a franchise system and then license thousands of business owners around the world to sell his fruit. Would it then be possible for him to earn $3 million a month? Of course it would! With enough flexibility in our strategy, we can achieve just about anything. You still wonder how a local fruit shop can possibly expand and go global? Impossible? Well, how did a British housewife create some skin and hair care products in her kitchen using fruits and vegetables and then pit herself against billion-dollar, heavily advertised international cosmetic brands succeed nationally and then globally? She developed the right strategy, which included the right unique products. This person I am referring to is Anita Roddick who founded the multi-million dollar chain of Body Shops. What I have found time and again is that people who are able to produce exceptional results use different strategies from the majority. When I had the opportunity to work with the top 1% of insurance agents (average yearly income of over $500,000), I found that they did not just work harder than the 97% who earned less than $50,000 a year. They used a completely different approach in managing their time, generating leads, converting sales and creating repeat businesses. So, taking your cue from the winners, study their strategies. If you want to be a millionaire, study the strategies of millionaires. If you want to be a great leader, model the patterns of great leaders.
Adam Khoo is an entrepreneur, best-selling author and a self-made millionaire by the age of 26. Discover his supercharged success secrets and claim your FREE bonus report 'Supercharge Your Success!' at Success With NLP.
send email to ayrhaven
Write a Review
Add to My Favorite
Refer it to Friend
Report Article
Other links owned by this user
Have your values sabotaged your success up to now? Is the ranking of your values or the way you have defined them causing you any conflict? Are they misaligned with your goals? Do they help you to achieve your ultimate dreams?
Category:
There are three major steps that master investors take and they are: 1) identify very good businesses, 2) buy them only at a huge discount and 3) wait for the market to realize its true value or overvalue it.
Category:
Here's a question most budding writers encounter before writing a book, and that is, Where did you get your ideas from?
Category:
It is not just WHAT we think about that determines how we feel, but also HOW we think about it. Has there been a time when you thought about something you werereally motivated to do, like going shopping?
Category:
A big portion about writing a best-selling book is not the writing only, it's the selling. That's why it's called Best-Selling Book and not Best-Writing Book. You have to sell it really well.
Category:
A lot of people asked me, Do you know that all the books you've written have become bestsellers? Did it happen by chance? The answer is no.
Category:
Many people have made use of the power of visualization to help them perform at their peak. This technique is favorably applied in the area of competitive sports where it is known as 'mental rehearsal'.
Category:
Let me illustrate to you a very well known example of the power of goals. In 1952, there was a research study done on the impact of goal setting on the graduating batch of students at Yale University.
Category:
A lot of people think that for them to write a best selling book, they must be an excellent writer. That you must use flowery and complicated language, a level or standard equivalent to that of a degree or PHD holder.
Category:
As an entrepreneur today, you must do a lot more than expected in order to run a successful business and create wealth!
Category:
Before you can ever reduce your expenses and increase your savings, you must first know where your money is going to. Many people share the same experience of having no idea where their $5,000 salary went. 'How did I spend so much money?' 'I thought that
Category:
In the classic best-selling book 'Think & Grow Rich', Napoleon Hill found through intensive research that the five hundred richest men in the world all had one thing in common, they all belonged to a strong support group of like-minded individuals where t
Category:
Are you good at playing computer games? There's a guy whose name is Bert Ingley, from the United States. He loves playing computer games, especially sports games in the area of American football computer games. And he wrote a book on how to play sports ga
Category:
Mention the word 'stocks', and many people have painful experiences to narrate. Stories abound of how people have had their life savings wiped out overnight.
Category:
The first step to take to increase your savings is to start reducing your expenses. So what is the first expense you must reduce and eventually eliminate? It is the interest expense you pay on consumer debt.
Category:
Let me give you an example to illustrate the power of compounding. Let's say we played a game of golf and we made a friendly bet of 10-cent on the first hole, with the bet doubling on each hole. Would you take on this bet? Now, if you were familiar with t
Category:
Many people have the wrong idea about what being a millionaire is all about. Many also equate instant gratification with happiness. They believe that millionaires live lavish lifestyles and all that self-indulgence brings lasting happiness.
Category:
Let me give you an example of how I lost a potential $4,900 a day when I first started out in the training business by spending too much of my time on the wrong sort of work. Like every small start-up business person, I was a one-man show. Naturally, I ha
Category:
A mutual fund (called 'unit trust' in Asia) is an investment vehicle that pools money from many individual investors. A professional fund manager invests and manages these funds into stocks, bonds and other securities.
Category:
Other links at Finance
The terms mentioned above may sound quite different but don't let it fool you. Structured Settlements and Lottery winnings have many factors in common.
Category:
Statistics have proved that women make up for nearly 85% of the consumer market. This amounts to an enormous potential not only to sell goods to women but also to lure them into the debt trap.
Category:
A look at how travel training can work in your favour when undergoing the frustrating task of trying to get a job interview.
Category:
Tony is arguably one of the most renowned speakers in the world, millions of people from all over the globe have attended Anthony Robbins' live seminars. As one of America's most prominent self help gurus, during the year of '04 I had sparsely heard of hi
Category:
Of the many forms of life insurance, term life insurance is one of the most popular
Category:
Site Sponsor
Directory Statistics
Articles: 68285
Categories: 501
Yahoo Entertainment
