I was introduced to the concept of domino goals by Ann Wilson author of The Wealth Chef: Recipes to Make Your Money Work Hard, So You Don't Have To This concept has helped me achieve my goals much faster and more efficiently.
A domino goal is the goal or goals that will help you achieve your other goals. So by focusing on and prioritising your domino goal, you will be more easily able to achieve your other goals.
Here are a set of sample goals by way of illustration:
Those in bold are the key domino goals. These are the goals which need to be ‘knocked over’ first in order to set the rest of the dominoes tumbling. In our example, you want to buy a house (goal 1) take more time for your family (goal 3) and take regular holidays (goal 8), but the achievement of each of these goals is dependent upon your financial situation. Therefore the domino goals here are those which can directly lead to improvement of your financial situation, i.e. setting up a part-time business (goal 5) and having a stable and fulfilling career (goal 7). So these are the goals to focus on first. And in fact both of those goals rely on you performing at your best by being fit and healthy (goal 10), so that should be the very first domino goal you aim to knock over (and you don’t need to join a gym (goal 4) to start leading a healthier lifestyle!).
By focusing on the domino goals in this situation, you will more easily be able to buy the house, become debt free, have holidays, and a cleaner! Try listing out your goals and finding the first dominoes you need to knock over. We’ve used this approach to help us prioritise our goals and it has worked a treat!
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