Part 4: Strategy or How the heck do I get to Financial Freedom?
4.3 Plan to earn inflation-beating returns for long, really long…ding dong!
What is the guiding principle to investing successfully and reaching your financial goals? Are you still playing to beat the market and still around? What is the basic nature of the market and how do you use it to succeed at investing? Will it take you to financial freedom?
I just love the advert that tells you why you should buy the Amaron battery…it’s simple it lasts long, really long…ding dong. The ding dong and the way it is said, made it very memorable. I can still hear it in my head. I want you to make the title of this chapter the tagline, the jingle for your investing strategy. And then do everything to make this happen and not do anything that will jeopardize it…screw it up.
How do leaders of consistently successful companies ensure that employees take decisions and work in a manner that enables them to achieve the company goals? And that they don’t do things in the short term that are detrimental to achieving the long-term goals. Of-course by practicing this themselves. And providing clear guiding principles and policies to help their employees take the right decisions. This enables employees to choose what to focus on and what to ignore, what are non-negotiable and where there is room to be flexible. This is short is called the Strategy which essentially answers the question How the heck do we reach our goals?
This is considered to be so important, like a make-or-break thing, that companies spend a huge amount of money as fees to the best consulting firms to get it right. And guess what happens at the end of blowing up a couple of million dollars? They get common-sense dressed up it glamorous clothes.
Can’t blame the consultants; Strategy has to be simple and common-sensical for it to be...........Read More
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