Some people are naturally hesitant when it comes to taking action. The time is never right or they want to know more first before taking the plunge. These people fall into the "paralysis by analysis" camp. Their mantra needs to become the Nike "Just do it!"
Conversely there are people that never lack the energy and confidence to jump right in. Unfortunately they jump in before they've taking any time to think about what they're doing. They live in a world of hope...hope that somehow things will just work out. Unfortunately, their lack of planning and research manifests itself as continual failure. I term this group as "Coyotes" like the Coyote from the Road Runner.
Both these extreme personality types (and everyone in between) need to take action, but action in a controlled logical and planned way. But how?
If you're committed to taking the wealth journey need to start with small S.M.A.R.T. steps and build your way up to bigger and bigger steps. This is often referred to as crawling, walking then running. Each one naturally follows once the preceding step has been mastered.
S.M.A.R.T. stands for:
* Specific - goals that are simple, concise and unambiguous.
* Measurable - goals that are assessable by either success or failure or by some sort of scale, say 1 to 10.
* Achievable - goals that are "attainable" goals, given your current situation and goal timeframe.
* Relevant - goals that will help you achieve your mission or vision
* Time-bound - goals that have a target date that's also realistic.
Taking small "crawling" S.M.A.R.T. steps will help build your confidence and allow you to change your nature to one that is used to winning. This is crucial. Jumping out of the starting blocks like a Coyote with over ambitious goals and no plan is a recipe for disaster. It'll lead to disappointment, frustration, financial failure and most importantly, wasted time.
Alternatively, the "paralysis analysis" group will feel more at ease taking smaller action steps and their fears will be less inclined to act as an insurmountable barrier. Starting off easy will allow you to get some "quick wins." It's important to constantly challenge yourself but not overdo it to the extent that you fail or become overwhelmed and unmotivated.
So whether you are a Coyote or a paralysis analysis type person the small "crawling" S.M.A.R.T. steps is the best way to start your wealth journey. This is low risk, high effective way to help build your confidence and asset base. It also gives you some time to gain practical, real- life experience. You can only learn so much from books, tapes, seminars, etc. Your next level of learning is in the real world.
Once you get a few quick wins under your belt you can increase the difficulty of your S.M.A.R.T. steps. This is because the "Achievable" part of your S.M.A.R.T. steps has grown and you are moving from crawling to walking. It is a natural progressive transition that will constantly challenge you and move your wealth journey to a faster plain.
Wealth begins with one answer:
"Are you going to take action today?"
Answer "yes" or "no," and then commit to your answer. Don't procrastinate and put off your future. The question isn't as important as your commitment to the answer. If you answered "yes," then it forces you to take action.
If you answered "yes," the question becomes "What action are you going to take to validate this?" Well, that's easy! It's in your wealth plan. It's your wealth plan tasks. If you haven't written your wealth plan, that can be your action.
Related Articles
The Power Of Leverage Will Make You Rich
By: Emlyn Scott | 21/05/2008 | Finance
It is absolutely necessary to use leverage if you want to become wealthy. In fact you need to use massive amounts of Leverage. The more leverage you use the more leverage you need to use. Before you think that I've lost the plot and only recommending that you borrow money...
Why Connecting With Others Is Key To Success
By: Emlyn Scott | 23/05/2008 | Self Help
I don't think I can express enough the crucial importance of contacts. I could rattle off statistics like the Federal Bureau of Labor research that 70% of all jobs are found through networks or axioms like "It's not what you know but who you know", but the truth is that...
Wealth Comes With Understanding Income
By: Emlyn Scott | 23/05/2008 | Finance
We all think we know what income is. For most of us it's simply the salary we earn in exchange for our time. More precisely it's the money, or its equivalent, that's received in exchange for labor or services, from the sale of goods or property, or as profit from...
Financial Statements: Wealth Starts With Your Personal Financial Statements
By: Emlyn Scott | 23/05/2008 | Finance
Financial Statements Introduction:
Financial statements generally take the form of records of the financial performance of a business. They provide information about the profitability and general financial health of the organisation. A company's financial records usually consist of:
* Income Statement
* Balance Sheet
* Cash Flow Statement
An income statement, also called a Profit...
Your Wealth Creation Arsenal: The 7 Reasons Why Real Estate Is Your Essential Tool
By: Emlyn Scott | 23/05/2008 | Real Estate
Real estate (both residential and commercial property) is perhaps the best way for the average person to generate wealth. There are many reasons why real estate is such a brilliant way to fast-track your wealth plan and why it's so popular with those who want to become wealthy or are...
What Percentage Of People Are Rich?
By: Emlyn Scott | 23/05/2008 | Self Help
The 5% club:
The Capgemini and Merrill Lynch 2006 World Wealth Report found there were 8.7 million millionaires in the world-2.9 million in America, 2.8 million in Europe, 2.4 million in Asia, 300,000 in both the Middle East and Latin America, and 100,000 in Africa. Given there are 114 million households...
Wealth Formula: The Secret To Wealth Creation
By: Emlyn Scott | 23/05/2008 | Finance
The Wealth Formula succinctly depicts the components that are necessary for you to create real wealth. The Wealth Formula is shown below:
M+K+P+A=W
It identifies four essential wealth creation stages and the relationship between them. These are:
Wealth Mindset
Wealth Knowledge
Wealth Planning
Wealth Action
It links each of these four component through the plus sign, +,...
Creating Cashflow: Using Covered Call Strategy To Pay You Cash
By: Emlyn Scott | 29/05/2008 | Finance
I'll assume in this article that you already have the basic understanding of stocks and options. If not then it would be worthwhile to read about these investments first. The covered call strategy brings together stocks and options to form a third strategy...a cash flow strategy. The covered call strategy...
Got a Question? Ask.
Ask the community a question about this article:
Q&A Powered by:
Latest Self Help Articles
Make Sure Your Skin Care Products Produce Results
By: Louise Forrest | 20/08/2008
It is important that you insist on results from your skin care products and you should not settle for anything less especially if you have been trying to soothe your dry skin for some time. Choose products carefully and seek the right advice if your symptoms are very severe.
There...
What is Business/Life Coaching?
By: Jacqueline Pigdon | 20/08/2008
Business and Life Coaching is a relationship that focuses on change, the future and achieving goals both in business and life to help people live a more satisfying, successful and fulfilling life in all aspects of their lives.
How does Coaching work?
Business and Life coaching aid people to take charge of...
Life Lessons: Unconditional Acceptance
By: Pat Campbell | 20/08/2008
We are all in the same boat living as we are in a duality existence here on earth. We are all comprised of good and bad, generous and mean, sharing and selfish. When one understands and accepts that no one is better than another regardless of the way people act, then we are beginning to understand the necessity of duality and can rise above it towards enlightenment.
The Most Powerful Affirmation
By: Joy Falan | 19/08/2008
The biggest reason why most affirmations don't work is that the emphasis is placed on the words themselves, when it has nothing to do with words at all. This article shares a more effective way to use affirmations.
Are You Resisting Success? the Key to Moving Beyond Resistance
By: Reggie Odom | 19/08/2008
If you are resisting success it's probably not obvious to you because resistance is an inner process. It's part of a mindset that is rooted in the subconscious.
Sole Survivors
By: Dr. Joyce C. Mills | 19/08/2008
Beloved storyteller and therapist Dr. Joyce C. Mills offers up reasons why letting go of what no longer fits--whether it be shoes, memories,habits or situations--creates space for brand new experiences and joys in life.
Rut Busting: How You Got Into a Rut and How to Get Out
By: Hal G. Warfield | 19/08/2008
WordNet defines a rut as a groove or furrow (especially in soft earth caused by wheels) or a monotonous routine that is hard to escape; as in "her job made her feel that she was stuck in a rut".
How to Grab Luck by His Neck and Never Let Him Go Again - 7 Ways Attract Luck
By: Razvan Dobre | 19/08/2008
Luck. The final frontier. People that have success are born with a special ability that makes them lucky. False. Forget you ever heard this. People are sometimes lucky because they do certain things that gives them a great result in the end. They make there own luck.
More from Emlyn Scott
How To Stay Motivated On Your Wealth Journey
By: Emlyn Scott | 30/05/2008 | Self Help
What is motivation?
There is no universal definition of what motivation is, yet all of us intrinsically know what it is. If you speak to people on the street and ask them what they think motivation is, you'll likely get responses like "it's what drives you" or "it's what pushes you"...
How Do You Estimate Your Normal Retirement Requirements?
By: Emlyn Scott | 29/05/2008 | Finance
Standard retirement plans are quite simple and apply to the middle class and to a lesser extent the financially independent. The following process would apply almost entirely to the middle class pension savings only (the financially independent would have extra personal holdings of assets such as bonds, stocks, mutual funds...
How Do You Sell Options To Generate Amazing Returns?
By: Emlyn Scott | 29/05/2008 | Finance
In this article we will look at how to effectively implement this strategy to increase your wealth. But before we do it's important to recognize that this strategy offers you the benefit of cash returns and easy access to your capital. Why are these things so important?
Cash returns:
Let's look at...
How To Create And Calculate Your Ultimate Wealth Target: Your Vision Statement
By: Emlyn Scott | 29/05/2008 | Finance
The process of creating and calculating your vision statement is a 4 step process:
STEP 1: Creating your vision statement:
Creating your vision statement should be a soul-searching discovery, not a clinical exercise. Your vision isn't something you can formulate and write in one sitting. You'll create it over a period of...
Does Wealth Come From Owning Assets?
By: Emlyn Scott | 29/05/2008 | Finance
The traditional definition of assets defines an asset as anything you own that has some monetary value. While this definition is correct and may seem logical, it is completely unhelpful when it comes to wealth creation. For example, the car sitting in your driveway or even the television sitting in...
Creating Cashflow: Using Covered Call Strategy To Pay You Cash
By: Emlyn Scott | 29/05/2008 | Finance
I'll assume in this article that you already have the basic understanding of stocks and options. If not then it would be worthwhile to read about these investments first. The covered call strategy brings together stocks and options to form a third strategy...a cash flow strategy. The covered call strategy...
Wealth Formula: The Secret To Wealth Creation
By: Emlyn Scott | 23/05/2008 | Finance
The Wealth Formula succinctly depicts the components that are necessary for you to create real wealth. The Wealth Formula is shown below:
M+K+P+A=W
It identifies four essential wealth creation stages and the relationship between them. These are:
Wealth Mindset
Wealth Knowledge
Wealth Planning
Wealth Action
It links each of these four component through the plus sign, +,...
What Percentage Of People Are Rich?
By: Emlyn Scott | 23/05/2008 | Self Help
The 5% club:
The Capgemini and Merrill Lynch 2006 World Wealth Report found there were 8.7 million millionaires in the world-2.9 million in America, 2.8 million in Europe, 2.4 million in Asia, 300,000 in both the Middle East and Latin America, and 100,000 in Africa. Given there are 114 million households...
Self Improvement 
