Anyone can create a powerful why, but you need to make sure you do the legwork first. Before you can really come up with your WHY statement, you need to figure out what life looks like.
Where will you be?
How much money will you be making?
What is life like?
What are you doing?
Who are you with?
What do you look like?
What are you wearing?
What are you driving?
Once you’ve done some reflection and visualization, you need to figure out how much this dream life will cost you. How much money do you need to be bringing in every month to afford the clothes, car, activities and lifestyle you desire?
Now that you know where you want to go, you need to figure out where you are now. If you have dreams of owning a $5 Million real estate portfolio, but you have $85,000 worth of credit card debt, you are going to have a hard time getting any bank or lender to provide you the leverage you need to achieve your portfolio goals. In this scenario, your first step has to be getting out of debt.
Let’s review 3 simple steps to a powerful why:
Step 1) Draft your WHY.
Use the standard below to get started. Remember, that it’s okay if you can’t nail this down right away. This will almost always be a work in progress, but as long as you are continuing to refine it and develop it, you are on the right track.
The blank after the ‘To’ is where you put what it is that you are going to do in order to have an impact, or an affect, which comes after the ‘so that.’ This part will likely be developed after you outline your goals and future plans.
Use the template below, and be sure to take advantage of our free download.
Step 2) Lay out your goals.
List out your BIG goals.
Where do you want to be in 5 years?
10 years?
By “retirement”? (When is that?)
How much passive income will you generate?
What will your portfolio be worth?
What type of assets will you have in reserve and how much?
Step 3) Share your goals with anyone who will listen (even email them to me if you want)!
Once you have this all on paper, add some motivational images, print it out and post it everywhere! These motivational images need to align with your WHY and provide an image that you can reference frequently to keep your WHY at the forefront of your mind and your subsequent actions.
For more in-depth instruction on this- check out my financial empowerment foundations course!
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[…] you have done the work to reflect on the life you lead and the life you want, you can begin to draft a purpose statement. Define who you are, what you do, what you’re capable of, and the impact you will have. It’s […]