BarroMetrics Views: The Foundations of Success
In this blog, I want to consider the Foundations of Success – not just what is needed for success in the markets but what we need to succeed in any field. It seems to me that before we can succeed in the markets, we must first lay down the foundations for generic success.
Paul J Meyer (whom some consider the Father of Personal Development) once described success as ‘the progressive realization of worthwhile, predetermined goals’. Putting that in my language: “we have future expectations and we execute to provide successful or unsuccessful results. If the latter occurs, we note the gap between our expectations and our results, create new goals etc until we are satisfied we have eliminated the gap between our expectations and our actions”.
Figure 1 shows the path.
FIGURE 1: Foundations of Success
Our expectations are the product of the Circle. The circle elements tend to be comprised of ‘our default future’ – those pesky unconscious beliefs, values and attitudes formed in our younger days. Beliefs and attitudes that no longer serve us but because they operate on an unconscious level, we are often not even aware they are there.
To succeed we need to make them transparent to ourselves. This is especially true of our values – ‘that which we act to gain and/or keep’ (Ayn Rand). Why? Because values form the basis of our Vision – that future that we seek to obtain and that Vision dictates the Roles we need to play to attain the desired vision. Together, Values, Vision and Roles form our Mission (Purpose) in life.
Our purpose serves as the rudder for our goals – the launching pad for our actions. Without goal, our actions are random movements; and without actions our goals are mere wishful thinking or day dreams. But before we act, we plan – plan then act. With action comes results. Our results either achieve our outcome or they don’t. If the don’t, we note the gap between the results and our outcomes. Then we create Goals and Plans and the Act. We continue the loop until we achieve our expectations.
ThinkTq have a great saying: you can attain intentional excellence by taking purposeful action or you can attain intentional mediocrity by taking purposeless action.