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SpinDistribute.com Article Directory

The following article was published in our article directory on June 7, 2013.
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A Simple Change in Focus Produced 24 Times The Net Worth

Article Category: Business

Author Name: William R Wood II

Reading The Article Made Me Sit Down

On Twitter, I bumped into this blog post recently that floored me!

The post started off by discussing the misconception that written objectives lead to higher incomes. The article devoted some time demonstrating that it was really more vital that the goal be well-formed and that it mattered very little whether rather it was written down or not.

While I wouldn't argue the point, I do believe that for most people it is much easier to create a well-formed objective by writing it down because the act of putting pen to paper forces you to think matters through thoroughly.

The Power of Skill-Based Objectives

Then the blog post described a research report that evaluated 4 kinds of financial goals and compared these objectives with participants' net worth and satisfaction. This study floored me! Now here is the background of the report:

"215 individuals completed the online questionnaire over a seven week period. Respondents were mostly UK-based (80 %), with further respondents from Asia (11 %) and the USA (9 %). This researcher invited respondents through social networks, Ecademy and LinkedIn and direct contact with companies across the UK, Asia and US. 70 % of respondents are in full-time employment and the remainder either self-employed or business owners."

Farther along, the article assesses the connection amongst the goal category and the net worth of the individuals who set the goals.

"Respondents were asked if they were willing to share their own personal goal, 60 % did so and these break down into four main focuses: Career, Lifestyle, Money or Ability. We also asked how satisfied respondents were with their achievement.

For those with a Lifestyle goal focus, average wealth is 95,000 and 'satisfied' with their achievement.

A Career focus, average wealth is just over 100,000 and 'somewhat satisfied'.

A Money focus, average wealth is 162,500 and 'satisfied' and lastly,.

An 'Ability' focus, average wealth is 780,000 and 'very satisfied'!"

Creating Value in the Marketplace

To paraphrase one of my favorite authors and lecturers, Jim Rohn: "The marketplace doesn't reward you for your time, it rewards you for the value you create."

Amongst the simplest techniques I know to create additional value is to enhance your abilities, to become more than you are today!

Ponder this: Precisely what is the one single skill that would undeniably change everything regarding your wealth, your private life or your relationships?

Once you have actually determined that ability, I strongly recommend that you specify SMART objectives to upgrade that skill through time, to set yourself in motion and to strategize how you will implement that ability into every aspect of your private life or work life.

Keywords: Goal Setting, SMART Goals, Capabilities, Skills, Increase Your Net Worth, Make Money

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