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Begin With The End In Mind Thumbnail

Begin With The End In Mind

The most important thing you need to do when creating a financial plan is to first decide where you want to go.

Top Ten Ways

Sales Professionals Can Take Their Finances to the Next Level

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Set Your GPS First

What would happen if, when you got in the car, you just started randomly driving? I don't know about you, but the first thing I do when I get in the car is to punch in my destination on the GPS and figure out the best way to get there. Even when I'm headed to a place I've been a hundred times, I connect to an app with updated traffic reports. If there's an accident ahead, I want to know. Then I can take a detour that allows me to get to my destination in the most efficient way possible.

The same is true for when you are choosing what to do with your finances. Start by setting goals first. Only after you’ve determined where you want to go can you start to map out the best way to get there.

"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success." - Pablo Picasso

List Your Goals

List your goals and don’t just say “retire”. Put some thought into it and get specific. What do you want out of life? Maybe it is “have the freedom to be able to go to all of our kids' high school football games”. Or perhaps it’s “to have enough to upgrade into a bigger house in Danville…in 3 years”. Do you want to send your oldest to Stanford? Write it down.

Be sure to include how much that goal would cost and/or how long you need to achieve it. Sure you want to retire, but at what age and with how much? Once you have written down your goals it gets easier for you to visualize them happening. You can set into motion what you need to do to hit those targets.


The last step is to prioritize. Unless you intend to hit the lottery, it’s entirely likely that you may not be able to reach all your goals within your timeframe. You may have to decide to make sacrifices with one goal so you can hit another. When the college tuition bill is due, this doesn’t mean you can’t get the house, but it may mean you should postpone it for a couple of years.

The prioritization of your goals is often the hardest step, but once you’ve done this it is liberating. It allows you to get laser-focused on what’s most important to you. And a good financial plan will allow you to see what adjustments you need to make in order to hit those goals.

The good news here is that as successful sales professionals this plays to your skill-set because you do it all the time. You know exactly what it means to have a goal, and then what you need to do to make it happen. You know what activities you need to do and KPIs you need to measure to make sure you are on track.

Financial planning works the same way. After you’ve defined and prioritized your goals, you can then take regular measurements, and make adjustments to your plan as necessary.

Now that you have poured the foundation of your financial house, the construction can begin. The most essential building block is identifying and taking care of your most important asset. Hint: It's probably not what you think. To find out about it and much more click to receive our series -

Top Ten Ways Sales Professionals Can Take Their Finances to the Next Level