POWER OF FOCUS IN WEALTH CREATION

“A success warrior is the average man with laser-like focus. You need to align all your focus with the solution not the problem. Otherwise, you will unnecessarily drain out your resources and energy.” James Oh

The biggest let-down in life is aimless living, exactly just like a sailing ship without a compass. What would you expect to happen when you are fully occupied with your daily busy routine, leaving you no time for important but less urgent matters?

How many of us are in this situation? What makes thing worse is when the surrounding chaos sets in from our other areas of life, namely finances, which causes us to feel like we are losing control of everything.

What do you think will happen when you try and tackle problem after problem or goal after goal without proper strategic planning? Are you going to be a fire fighter all your life without searching for what you were initially created for? Guess none of us want to be in this position.

As such, you need to stay focus on your goal and not let the circumstance divert you from your goal. Direction is far more important than determination and dedication. To head towards the right direction, you need to stay focus on the larger purpose. Similarly to create wealth explosively, you need to have a clear picture of what you want.

The clarity of goal will pull us through our obstacles. To illustrate how it works we can look at the illustration of how the magnifying glass held under sunlight for sufficient length of time can light up a piece of paper underneath it. So, assess yourself honestly, where you are now and where you intend to go. Only then will you be able to craft your strategy and vision accordingly.

For instance I want to be a prominent writer, what I need to focus is on writing and not painting. Similarly if you want to be financially free or rich, you need to focus on generating passive income in addition to active income.

Passive income is an income without having to work for it. It may either derived from tangible or intangible assets or both. Knowing your end will enable you to explore all the possibilities to enhance your core competencies to achieve growing your wealth permanently and perpetually.

HOW TO STAY FOCUS?

How do we create ‘powerful, empowered and concentrated thoughts’? To do so, we must ensure that no negative elements penetrate our minds. Can you imagine what would be the outcome if a ship has even a tiny hole in the middle of the ocean?

To empower yourself, keep raising the appropriate question such as ‘How can I be a successful and prominent writer earning not less than half million dollars in five years time Or ‘How can I earn 1.0 million dollars of passive income per annum? Let your imagination search for the solution for you. Keep fanning your imagination to search for improved ways and means to bring you to your situation.

In my case, my imagination delivers me more products in term of articles, eBooks, books in hard copies, training programs and so on. By enhancing my core competitiveness; I am able to differentiate my products from my competitors so as not to compete in terms of price alone. Inch by inch, moment by moment, edge by edge I am reaching out to a larger magnitude of people globally.

If you focus on one to three goals, the chances of achieving all the 3 are much higher. However, if you focus on 10 goals, you may likely only achieve one or two goals. If you focus on all goals, then it is very likely that you will achieve none.

Successful people have the ability to focus on a single task until it is completed. It is one of the best ways to achieve results in whatever you do. Setting priorities is also crucial in determining the impact. Always focus on the top highest priority so as to obtain the most with least effort.

“Here is the prime condition of success, the great success,” said Carnegie. “Concentrate your energy, thought, and capital exclusively upon the business in which you are engaged. Having begun in one line, resolve to fight it out on that line, to lead in it; adopt every improvement, have the best machinery, and know the most about it.”

The root cause of many failures in enterprise is lack of concentration. Attention is like a searchlight; when its beam is spread over a vast area, its power to focus on a particular object becomes weak, but focused on one thing at a time, it becomes powerful. So, focus on one thing until it is successful. Great men are men of concentration. They put their whole mind on one thing at a time.

With concentration, you can disengage your attention from objects of distraction and focus only on one thing at a time. Through his mind, man can unleash his mind power to accomplish what he desires and safe guard all doors of failure from entering. Self-discipline is required for you to acquire full concentration so as to accomplish the goal of achieving long lasting sustainable growth for your chosen enterprise while having a significant impact and influence to the society and world as a whole. “In the search for your destiny, you will often find yourself obliged to Change direction.” Paulo Coelho.

In summary, it can be safely said that the more your focus, the higher your awareness and the greater the result. In life, if you focus on your life’s purpose, then the chance of entering into rat race is much lower than the majority. This is because your tendency of focusing on passive income (PI) relative to expenses (E) is much easier. You will keep improving the PI/E ratio as the indication of your benchmark to achieve your financial destiny. The higher the ratio, the better it is.

MEASURE, MONITOR, MANAGE AND MOTIVATE

To have financial freedom, you need to carry out the plan that brings your desired result. Constantly measuring, monitoring, managing and motivating are the surest way to achieve it. You can achieve what we can measure, be it your customer base or the product/service. In order to help you set your financial targets, there are two things you need to consider:-

a)      

Increase your passive income by either creating or acquiring income generating assets or

b)      Reduce or eliminate your unnecessary expenses which serve no value to you.

BETTER THINKING, BETTER DECISION AND BETTER RESULT

Better result is the outcome from better informed and more insightful decision making. To achieve better results, go back and look at your saving and spending patterns, look at the likely causes in details and then reshape your financial behaviour accordingly.  Your why must be big enough to endure your whole journey.

Invest in yourself to increase your financial literacy if necessary and your skills appropriately. Take action plans to realise your goals. Learn from your mistakes to understand why it fails to deliver the expected results. To have more desired result is to have more fun throughout your walk. Slowly and surely you will reap your rewards. You will make it a fulfilling activity. Begin with yourself, expand to your team and take it further by reaching a much larger magnitude of people ultimately.

Workout your financial roadmap based on how you spend, save or invest over time to shape your future.  However, this roadmap is not set in stone and you need to review it frequently to adjust, and adapt to the changes of the circumstances.

These changes may include the tax regulation, technology and other personal financial circumstances which may warrant the changes. Therefore, it is important for you to review your plan on a regular basis to ensure that you remain consistently on track with your financial goals.

CONCLUSION

Every action counts. No action exists in isolation or is wholly independent. It is all inter connected just like compound interest which has a snowball effect. For those who have not generated sufficient passive income, your first goal is to replace your active income with passive income.

By subscribing to the above formula, you are on your way to move to the next level of success. Have actionable faith, you will attain it eventually.

So, by holding yourself fully responsible to your financial goals, you are able to create the future you want. Stay humble and hungry. You will be successful because you are a forward looking person and are ready to grab every available opportunity to make yourself better no matters what.

You shall be more inclined to take action to move forward to achieve result rather to seek for reason. In every success, action triumphs in everything. Your mind is then focused on finding best solution to grow your wealth speedily and significantly than what you thought possible. Repetition is the key to mastery.