The key to success in every aspect of life comes from setting measurable and attainable goals. Dreams may guide an objective but until practical plans are formulated all you have is the dream. Thoughts of winning a lot of money (lottery), inheriting a fortune or even just working hard are all just dreams that need to be transformed into more sensible statements. “I will work for a salary that allows me to invest ten percent of my disposable income in a lottery.”, “Because my family operates business I will work and educate myself to one day in the future lead that business.” or “I will work, continue to educate myself and invest fifty percent of disposable income in marketable securities (stocks, bonds and real estate).” These statements must be further expanded into detailed plans and strategies that define, firstly, what is meant by work, educate and invest, secondly, the time frame associated with particular tasks and most importantly, who will help or hinder specific actions.The earlier in life that a skill or talent is identified and encouraged, the stronger the work and educational components of the plan and the more time there is available to invest. A young educated craftsman, professional or artist has a specific range of opportunities or career path options; what is needed now is to identify the influential people in that field.
The first step on your career path is to understand and buy into a profitable employer’s objectives, which commonly involves measureable production targets and attainable cash flow budgets, surrounded by customers, suppliers and financiers. Production, across every sector, measured by quantity and quality and achieved in the best time schedule in order to influence cash flow (bill, collect and deposit payment) is the chief concern of every worker. Understanding the expectations of customers or clients can lead to a job promotion. On time delivery of requested products (goods and services) with customary quality and pricing and specially negotiated terms and conditions to promote long-term relationships is critical.
Further, understanding suppliers’ targets is to manage the entire distribution channel. Your main supplier of crucial inputs depends on your orders as much as you depend on your main customer or client. Knowing what your financiers’ require and when, is key to long-term growth in any field. These financiers may be banks or individuals and expect returns, whether as interest payments or shareholders’ dividends for the use of their money, so that they can continue to grant new funding as a need arises or to sustain growth.
It all starts with you, setting realistic goals and objectives, using publicly available information to formulate detailed plans and executing prudent actions that would accomplish the set task and enact the necessary strategies to deal with people.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
