Smart Cycle of Success | F.I.T. PLANNING

Smart Circle of Success: Specific; Measurable, track yearly progress against expected capital; Attainable, ensure the target is reasonably doable; Rate of Return, determine the profit and growth rate needed; Timeframe, calculate the time period needed to hit the target

Origins

From three influences to one practical cycle.

Dale Carnegie’s attention to people and purpose, Socrates’ questioning of assumptions and William Glasser’s ideas about choice and control prompted Merched to explore how these ideas could mesh together.

Through observation and nearly four decades of advising, teaching and speaking, he brought them into his own approach and used the Smart Cycle of Success to examine how they could work together in informed financial decision-making.

Meet the three influences

Five questions

Ask each one before you decide.

SSpecific

What precisely do you want this decision to accomplish?

MMeasurable

What numbers or evidence will show your progress?

Track yearly progress against the expected capital.

AAttainable

Can your resources and circumstances support the purpose?

Ensure the target is reasonably doable.

RRate of Return

What return is required, and what assumptions and risks come with it?

Determine the profit needed and the growth rate.

TTimeframe

When must the outcome be achieved, and when will you review your progress?

Calculate the time period needed to hit the target.