As you begin to figure out where it is you’d like your life to lead, the next step is to figure out exactly how you’re going to get there. Goals are great, but a plan is crucial to reaching those goals. For example, if you establish one goal to own a vacation home in Key West, you’ll need to embark now on the steps that will eventually get you to that point.
So, what are the various steps you can take? We like to call them “vehicles to success” and they can be divided into three main groups:
- Career Path
This is the traditional route. Employees for life, people in this group plan to work their way up the corporate ladder, all the while saving money in their 401K’s if they are lucky enough to still have one. This option used to provide stability and longevity but the current marketplace has taken away those guarantees.
- Business Ownership
This route provides an opportunity to take control over one’s destiny and really experience self-reliance. The reward can be great, but some view the choice a daunting one. However, with the right guidance and education, the chances of success greatly increase. The New Career Economy is making this an increasingly popular option. Something to think about: 74% of millionaires own their own companies.*
- Real Estate and Investments
As both the stock market and real estate slowly recover from the damage of recent years, they aren’t quite the “get rich quick” investments they might have been. However, that is the beauty of these investments: if you wait around long enough, they will usually recover, thus the appeal for many people. Slow and steady, these wealth-building strategies are tried and true, however one of the downsides is that you don’t have direct control over the outcome.
It comes down to this: identify the vehicle, or the combination of vehicles, that you believe are most likely to enable you to reach your goals.
dispelling a myth
Growing up, it seems most people are taught to “do what they love” or to find an occupation they are passionate about. This way of thinking is all well and good, but what happens when that passion doesn’t bring you anywhere near your goals…those other things you were taught to go after at a young age?
Dispelling the Myth: You don’t have to love a product or service to capitalize on it.
A business is simply a vehicle that gets you to your goals. When you're traveling first class, who cares?
Some people think you have to have an emotional connection to a business to be successful. The reality is, successful people are in "the business of business." They don't have a love affair with the product or service. The type of business you choose is less important than its ability to get you where you want to be. In essence, the vehicle is not nearly as important as the destination. We have the tools and experience to guide you.
Besides, when you own a business, your concentration is on running that business not working in it. Studies show that when people are truly passionate about the service or product their business produces, their business judgment can get clouded and they tend to get stuck doing the technical work, giving them less chance of ongoing success.
So, don’t rule anything out! Keep an open mind when exploring your options—you may be surprised at the possibilities that present themselves.
*The Millionaire Next Door