7/24/2021 Tip: Yogi Berra

Today’s Quote

“If you don’t know where you’re going, you probably won’t get there.”
~ Yogi Berra 


Today’s Tip

The above quote from Yogi Berra is so simple, yet so true. If you don’t know where you want to go, you’ll never get there. It’s like driving in a foreign country without a map or GPS system.

And it’s the same with your business. If you don’t know where you want to take your business, how can you possibly get there? You can’t.

In business, as in everything else, you need to have a clear vision of where you want to go. Then, and only then, can you create a plan to get you there.

And this is a growth mistake that most companies make. They think too much about the upcoming month, quarter or year, when they need to think further in the future to reap both stronger long-term and short-term profits.

The key is to “Start at The End” (if you haven’t read my book of this title, here’s the link to it on Amazon). Figure out where you want to go. And then reverse engineer the path to get there. Specifically, once you figure out what you want to accomplish by the end (i.e., in 5 or more years unless your goal is to exit sooner than that), you can estimate what you need to accomplish in the next year to put you on the right trajectory towards meeting your ultimate goals.

And then you can figure out what you need to complete this quarter to get on the path to your annual goals. Further, you can determine what you need to achieve this month to reach your quarterly goals. Likewise, you can figure out what you need to accomplish this week to meet your monthly goals. And lastly, you can figure out what you need to do today to accomplish your weekly goals.

Success can really be this easy; it’s simply constantly breaking down your ultimate vision into smaller pieces, and then focusing on completing those pieces (rather than getting distracted as most of us do).


Today’s Resource

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Today’s Question: Marshall McLuhan was named as the ‘patron saint’ of which magazine that had his quote on its masthead for the first ten years of its publication?

Previous Question: In economics, what is a ‘monopsony’ as opposed to monopoly?

Answer: A market form in which only one buyer faces many sellers

A single-payer universal health care system, in which the government is the only “buyer” of health care services, is an example of a monopsony.


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