Aim for the moon. Even if you fail, you’ll land amongst the stars.
It sounds pretty. But is it really something you should live by? As it turns out, some people would say yes. The rationale being if you aim big, you therefore plan for big, prepare for big and commit to big. And even if things don’t quite work out the way you planned, you might just end up in a better situation than if you’d planned small and achieved your goal.
Let’s say your obnoxiously high goal is to retire at 45 with five investment properties to your name. Even if that doesn’t happen, the fact that you were shooting high could mean that at age 45, you might be, say, retired with your own home and one investment property.
Or you might have all five properties and not be retired.
Or something completely different.
The point is that having an endgame in mind from early on means you will likely approach every day differently. You think big. You play big.
But is it practical?
This sounds great in theory. But in practice, how do you reconcile this thinking with the practicalities of everyday life? Importantly, why in the heck would you throw caution to the wind if you are already on the path to financial security?
It all depends on what you want and how it aligns with your values.
A formulaic plan can get you on the path to financial security.
But the most successful people are sometimes the ones who stray from tradition and aim higher, with very ambitious goals.
If you float at this end of the spectrum, you can learn a lot from setting the bar (obnoxiously) high for yourself.
1. You change what you believe is possible
The expected path tends to be:
- Go to school
- Score solid grades
- Complete a university degree
- Land a reasonable job
- Score financial security
In fact, this doesn't sound like a bad idea to us. Most of us follow this sensible plan and that's totally okay.
But some of the most successful people have deviated from this formulaic plan, and forged their own path.
When you think big; you force your mind to challenge itself and can begin to conceptualise new ways of doing things.
Take for instance the university drop-out who became one of the world's best technology developers and the world's third richest person.
Facebook creator Mark Zuckerberg is a Harvard drop-out who started his empire with the HarvardConnection (a purpose-built social networking site for Harvard-only students to connect).
But when Zuckerberg thought bigger, he envisioned and implemented the roll out of the social networking site to the rest of the world.
2. You force yourself to learn quickly and adapt
If you’re throwing yourself in the deep end, chances are whatever learning curve you’ve found yourself on is steep. Sure, you could have aimed lower and made it easier on yourself. But placing yourself in challenging situations may force you to learn and adapt quickly. It may get you to tap into your creativity to solve issues in ways you otherwise wouldn’t have to.
Setting big goals forces you to try a bunch of different methods of doing things and to make mistakes — all of which exist because you're pushing yourself to meet an ambitious goal.
So, you take on more learning opportunities and are more adaptable.
3. You learn to perform in difficult circumstances
While aiming high can help you fly past some roadblocks, there will also be setbacks which totally knock you down. When your goals are big, you may be more likely to foster the mindset of a marathon runner rather than a sprinter. You know there will be setbacks along the way. You’re mentally prepared. Picking yourself up and carrying on will help you build up your resilience.
American historian and philosopher Will Durant said "we are what we repeatedly do. Excellence, then, is not an act, but a habit."
When you continuously stretch yourself, encountering adversity and difficult times becomes less uncomfortable because you establish a tolerance and in-built perseverance.
4. Failure offers key learning opportunities
Speaking purely from a statistical perspective, when you set yourself impossible goals, the odds aren’t in your favour.
But if you take calculated risks and fail, at the very least you have gained a valuable learning experience.
5. You get excited
When you decide to step away from “normal” and pursue your big, huge, crazy dream, you’ll probably find yourself excited. Really excited. Because you’re actively taking steps to build the life you want. Never underestimate the power of the deep, intrinsic motivation that comes from working towards something you truly want and believe in.
What do you want out of life?
It comes down to your personal values, and how they inform your decisions.
You choose your own destiny and the goals that support it.
You may be comfortable with following a formulaic plan to reach financial security.
But if you want financial independence or financial freedom, then pushing yourself outside of your comfort zone is where you'll need to get comfortable.
If you shoot high and don’t quite make it, your “I almost made it” may still look better than where you may have landed with a more ‘realistic’ goal.
