Corporations are very good at setting goals and putting together a plan to achieve those goals. Since most of my career has been in sales, I've learned from past managers how my sales targets are generally the last thing calculated and come down from the upper corporate ladder after the "brass" has figured out how much the company wants to grow for the year. After that, it was my job to utilize my skills to hit that goal. In my personal investments, side businesses, and passive income opportunities, I've realized that something that has seriously hindered my progress and even contributed to failure in a couple of ventures is that my goals were either undefined, too weakly defined, or completely off-base. Goals are absolutely vital to success in escaping the "Rat Race" and gaining financial freedom.
A goal is something you plan to achieve, in its simplest definition. If you don't plan to achieve it, you won't take action; then it's a dream. A goal needs to be specific and measurable. It should have a time element, possibly milestones along the way to track success, and maybe even an earnings target. A goal should also be attainable. If you set your goal way too high, you'll either never get started because the task seems so daunting or give up on yourself way too fast after the slightest setback. But on the flip side, don't let yourself off the hook and stay in the same rut forever.
Here's an example of a poorly constructed goal: "I want to retire comfortably and not have to worry about money." It's a great idea, but it's vague and unattainable without getting some clarification. Remember: without action, even the best goals are nothing more than just a dream.
