PLANNING FOR SUCCESS: MANAGING THE 4 TYPES OF CAPITAL YOU HAVE (AND NEED)

How to manage the four types of capital we all have at our disposal.

- Daniel Scott

Success requires a plan. In fact, it may require several plans. First, however, you must define what “success” means to you. What is it that your plan is trying to achieve? In my own life and business, I think there can be no greater goal than trying to achieve your life purpose (if you think there is a greater cause to pursue in your life, I would love to hear it). Given that there is no other life on this planet, or within this universe, with your exact biological makeup (i.e., your nature) and your exact life experience (i.e., your nurture), there is logically some original value that only you are capable of producing. Pursuing this unique value, I would argue, is your purpose in life.

Your life purpose serves your north star — the light you follow, the light that guides you and sets your direction. Once you identify your life purpose, then you must figure out how you can get there. This requires a combination of knowing and optimizing your resources (or capital) and the individuals who can best serve to optimize those resources and propel towards your goal (your team), developing a structure through which you manage your assets and through which your team operates, creating a process that ensures discipline and accountability with respect to executing your plan, as well as ongoing review and refinement of your plan. That’s it.