Fourth Quarter 2014

            In a recent discussion with a retail business owner he spoke about an issue we all have to face. How to have enough to cover costs, provide an income and provide a return on the money invested into the business.

            Whether your budget is for a home, small business or even a large business there are some keys that are critical to financial survival. In this case it was the cost/overheads of the business. The figures were quite staggering in comparison with size of the business. Larger enterprises having a larger turnover and can more easily absorb these costs.

            What was surprising was the thought and research that had been put into the business to maintain it’s long term viability. Part of that strategy was his wife’s income that supported the family. While they may not have seen it as such they had actually hit on one of the key principles of financial security. That of developing multiple sources of income.

             This highlighted the simple fact that many of us are working in survival mode, whether we like to admit it or not.  Without long term goals and objectives it’s impossible to determine if our day to day actions are leading to a secure future or are we simply surviving from day to day.

            Having a vision and applying goals with steps to their achievement make each action measurable. A positive outcome is built on many small individual steps or actions. Each one leading to a successful day, week, month, year and ultimately lifetime.

            So the question becomes ‘do I know where I want to be three years, five years or even ten years from now’? It shouldn't come as a surprise how many opportunities simply fall into your lap when there’s a ‘destination’ we’re aiming for. You'll immediately recognise it’s relevance to your objectives and it comes with seemingly very little input apart some time and awareness.

            So with the final quarter of 2014 just a few days away there are four important questions that need to be asked;

            What to I want to be, do and have in five years time?.

            Have I made progress towards my primary objectives this year?

            How can I change and improve the outcomes for the final quarter?

            What additional resources are needed to move to the next level?

            Many things are achieved just before the finishing line. Knowing where you’re headed, being able to see it’s progressive development leads to having the feeling of peace and security that comes from knowing you’re on the right track.

             Take some time to lay out your plan for the final quarter of 2014, create steps that can be followed daily and be amazed at how much your life can be changed in the next three months.