Friday, 15 December 2017

Goal setting - Ma Yun's words of wisdom

Focus is essential for business. When laying down the strategic goals for your business, you must never exceed three. Once you’ve exceeded three, you won’t be able to remember them, and neither will your workers. When you set down goals each year, just determine the three most important, and cut out the fourth."

In whatever we do, whether it is investing or carving out a niche in something, we should never lose our focus by trying to achieve too many things at a time - either we will forget or we will forgo. 
Read also: A note on entrepreneurship


Another piece of Ma Yun's advice for start-ups, but I think it's also applicable to whatever we chose to embark on -
"the first is what you want to do, the second is how to do it, the third is how long to do it for.”

To work out finer details, we can dive into SMART goal setting when the above are thought through.



And last but not least -
"You cannot unify everyone’s thoughts, but you can unify them with a common goal."
[Source: https://vulcanpost.com/5407/jack-ma-success/

Yeah, instead of trying to get employees to believe in you, get them to believe that they can do it! They can achieve goal XYZ for bigger good when they work together. (And that might requires the higher level skill of brainwashing motivation hehe...)



--
If you extrapolate some of the above wisdom on goal setting to your personal finance management, what goals would you set?



PS:

Investors have goals... Hey, traders have goals too (albeit being short-term ones). Target entry price, target sell price, stop-loss points... all that mini-goals to help achieve the ultimate bigger goal of making money from the market.

:)

3 comments:

  1. Rainbow girl,

    I see you have written down your own interpretations of what Ma Yun said in black ;)

    Interesting...


    ""You cannot unify everyone’s thoughts, but you can unify them with a common goal."


    You may want to explore how great leaders unify their people in companies, countries, and even religions ;)

    That's doing the opposite of what you suggest...

    They "sell" a dream, or vision to us. (That's why most listed companies have Vision or Mission Statement)

    And in Singapore's context, remember our Singapore pledge?


    The author who interpreted/translated Ma Yun words I suspect is another employee ;)



    ReplyDelete
    Replies
    1. Hi SMOL,

      Ah yes, the common goal refers to vision mission. Now I see the right words!

      "不能统一人的思想,但可以统一人的目标。"
      The so-called common goal is actually a unified belief.

      Thanks for your worthy comments. :)

      I like what he said in this video too.

      Delete
  2. Be your own "shepherd" and sell your goal and vision to yourself or goodself. Isn't this nice way to motivate or unify your goodself to your own goals.

    ReplyDelete

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