Creating a successful plan for achieving your financial goals. A Review of this book: Measure What Matters by John Doerr.
The book’s objective is to give you a mental frame work and an actual template for achieving your goals. The orientation is towards achieving financial goals like investments.
For example your goal is to replace your job income with investment income. You start with that as your Main Objective. Then you work backwards from that in terms of determining and listing smaller objectives you need to achieve first in order to reach the main objective.
Then assign measurable metrics on these smaller objectives. Then assign timelines and due dates on these objectives. Then plan for periodic assessment of your plan by using the objective metrics. The author calls these OKR’s or Objective Key Results. All your planning and efforts go towards naming, measuring, creating timelines and planning how you will achieve objectives in timeframes you establish.
You then execute your plan.
This leads to clarity of purpose and easy discarding of processes or distractions which don’t help you achieve these goals. The plan also calls for revisions based failure or success at achieving goals.
The book contains many more details about picking your main objective, creating goalpost objectives, developing metrics, developing a plan, evaluating your progress and revising the plan. One of the strong points of this system is it becomes clear to you what to spend time on and what to ignore all together.
Summary:
The book is very useful to align your goals with your activity. The strategy of starting with the main objective and working backwards feels logical and adds confidence that your goal is obtainable. The book explains the other details well and although the planning seems laborious, at its completion you should have a clear roadmap forward. The addition of metrics objectifies the process and the built in analysis and revision aspects are very helpful. They make process and goal revision seem less like failures and more like normal variances you would expect to encounter on any long journey. I highly recommend the book.
✍️ by Shortsegments.
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