SUCCESS LESSON 3: If you fail to plan, you plan to fail.

Dear Mr. CEO,

Yes, that’s you. You are a CEO. You are the CEO and president of your own personal service corporation. You are the president and CEO of your own life. If you work for someone or some company, you provide your services to them in form of employment. If you are a business owner, you provide services to your customers. No matter what you do, you provide services. You are responsible for every aspect of your own company, yourself.

To be successful, you must have a plan. You must know what your day looks like, how many tasks you can handle, how much time you have for a certain activity, what is important, and what is not. You must know how much money you bring in and how much money you spend. You must know how much you will have after expenses. Without planning, your own personal service corporation could end up failing. You might find yourself in debt.

You must have a plan to deal with constant changes that require you to be equipped with new knowledge. In other words, you must have a plan to invest in yourself in order to stay competitive. As Warren Buffett said, the best investment you can make is to invest in yourself; the more you learn, the more you earn. To do so, you need a plan.

If you want to buy a house, you need a plan: what kind of house you want, how much money it will cost, how many bedroom it will have, where it will be, and when you will buy it.

If you want to have a good job, you need a plan: what kind of job you want, what skills it requires, what skills you have, how you will approach the employer, what salary you are looking for, what the interview will be like.

If you are a student and you want to do well, you need a plan: how long you need to study, what materials you need to study, what assignments you need to do, ….

As Warren Buffett stated, the will to prepare is just as important as your will to win.

If you fail to plan, you actually plan to fail.

To watch the episode, click on http://smckids.com/episodes/?vidlink=03

See you in the next lesson.

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