{"id":86881,"date":"2022-12-27T17:33:00","date_gmt":"2022-12-27T21:33:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=86881"},"modified":"2022-12-30T10:42:24","modified_gmt":"2022-12-30T14:42:24","slug":"steps-to-building-wealth","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/","title":{"rendered":"The 3 Simple (But Not Easy) Steps to Building Wealth"},"content":{"rendered":"\n<p>Do you want to become rich one day? What are the three steps to <a href=\"https:\/\/www.shortform.com\/blog\/building-wealth\/\">building wealth<\/a>? <\/p>\n\n\n\n<p>If you&#8217;re serious about getting rich, let go of the belief that there&#8217;s a <a href=\"https:\/\/www.shortform.com\/blog\/get-rich-fast\/\">shortcut to wealth<\/a>. You\u2019re more likely to acquire wealth if you <a href=\"https:\/\/www.shortform.com\/blog\/how-to-define-your-goal\/\">define your goal<\/a> and commit to making it happen.\u00a0This involves three simple (but not easy) steps: 1) set a measurable goal, 2) create a daily routine, and 3) identify and <a href=\"https:\/\/www.shortform.com\/blog\/remove-distractions\/\">remove distractions<\/a>.<\/p>\n\n\n\n<p>Let\u2019s explore each of these three steps in detail. <\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1-set-a-measurable-goal\"><strong>#1: Set a Measurable Goal<\/strong><\/h2>\n\n\n\n<p>The first step to building wealth is to set a specific and measurable goal. A clearly-defined, measurable goal gives you a clear target to move toward and provides opportunities to <a href=\"https:\/\/www.shortform.com\/blog\/track-your-progress-2\/\">measure your progress<\/a>. For example, \u201cI want to be rich\u201d isn\u2019t measurable, whereas, \u201cI want to earn $500,000 a year\u201d is.<\/p>\n\n\n\n<p>(Shortform note: Charles Duhigg (<a href=\"https:\/\/www.shortform.com\/app\/book\/smarter-faster-better\"><em>Smarter Faster Better<\/em><\/a>) offers <a href=\"https:\/\/www.shortform.com\/app\/book\/smarter-faster-better\/chapter-3#smart-goals\">additional advice on setting measurable goals<\/a>: First, define your overall objective and break it down into subgoals so you can track your process. Ensure that these subgoals are achievable and realistic\u2014because if they don\u2019t seem possible, you won\u2019t be motivated to achieve them. Then, set an expected timeline for accomplishing each of your subgoals and your overall objective\u2014because giving yourself continual deadlines will <a href=\"https:\/\/www.shortform.com\/blog\/how-to-prevent-procrastination\/\">prevent procrastination<\/a>.)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-create-a-daily-routine\"><strong>#2: Create a Daily Routine<\/strong><\/h2>\n\n\n\n<p>DeMarco suggests that you break your goal down into a series of daily tasks that will help you make progress toward achieving it. For example, your initial daily tasks toward achieving your goal of earning $500,000 a year may involve researching business ideas and developing a detailed strategy to <a href=\"https:\/\/www.shortform.com\/blog\/how-to-increase-your-income\/\">increase your income<\/a>.<\/p>\n\n\n\n<p>(Shortform note: Brendon Burchard (<a href=\"https:\/\/shortform.com\/app\/book\/high-performance-habits\/1-page-summary#how-to-increase-your-efficiency\"><em>High Performance Habits<\/em><\/a>) expands on DeMarco\u2019s method with in-depth advice on breaking your goal down into productive tasks. First, <a href=\"https:\/\/shortform.com\/app\/book\/high-performance-habits\/1-page-summary#how-to-increase-your-efficiency\">write down five major steps you need to take to achieve your goal<\/a>. These are big steps that require many smaller tasks to achieve. For example, if your goal is to generate $500,000 in profit, one of your five major steps might be to market your business. Then, under each of your five major steps, write down a list of tasks you need to complete to accomplish that step. For example, to market your business, your tasks might include copywriting and designing marketing materials. Finally, create deadlines for each of these tasks and factor them into your <a href=\"https:\/\/www.shortform.com\/blog\/how-to-schedule-your-day-2\/\">daily schedule<\/a>.)&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-identify-and-remove-distractions\"><strong>#3: Identify and Remove Distractions<\/strong><\/h2>\n\n\n\n<p>DeMarco recommends that you consider what might prevent you from working on your daily tasks and find ways to remove their influence over you. For example, if you have a habit of binge-watching Netflix when you should be working, canceling your subscription will make it easier to focus on what you need to do.<\/p>\n\n\n\n<p>(Shortform note: In addition to <em>removing<\/em> all distractions, James Clear (<a href=\"https:\/\/shortform.com\/app\/book\/atomic-habits\/1-page-summary\"><em>Atomic Habits<\/em><\/a>) provides another practical way to stay focused on what you want to achieve: <a href=\"https:\/\/www.shortform.com\/app\/book\/atomic-habits\/part-ii#habits-and-your-environment\"><em>Add<\/em> visual reminders of what you intend to accomplish<\/a>. Visual cues instigate action because they trick your brain into thinking that it\u2019s convenient to act on them. For example, email pop-ups trigger you to automatically check emails. Without them, opening emails requires a conscious decision. Likewise, clearing your desk of all distractions and leaving just one project on your desk makes it convenient to foc<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you want to become rich one day? What are the three steps to building wealth? If you&#8217;re serious about getting rich, let go of the belief that there&#8217;s a shortcut to wealth. You\u2019re more likely to acquire wealth if you define your goal and commit to making it happen.\u00a0This involves three simple (but not easy) steps: 1) set a measurable goal, 2) create a daily routine, and 3) identify and remove distractions. Let\u2019s explore each of these three steps in detail.<\/p>\n","protected":false},"author":7,"featured_media":38527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31],"tags":[832],"class_list":["post-86881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money","tag-unscripted","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The 3 Simple (But Not Easy) Steps to Building Wealth - Shortform Books<\/title>\n<meta name=\"description\" content=\"If you want to build wealth, set a goal and commit to doing the work to make it a reality.\u00a0This involves three simple (but not easy) steps.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The 3 Simple (But Not Easy) Steps to Building Wealth\" \/>\n<meta property=\"og:description\" content=\"If you want to build wealth, set a goal and commit to doing the work to make it a reality.\u00a0This involves three simple (but not easy) steps.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/\" \/>\n<meta property=\"og:site_name\" content=\"Shortform Books\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-27T21:33:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-30T14:42:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/s3.amazonaws.com\/wordpress.shortform.com\/blog\/wp-content\/uploads\/2021\/06\/wealth-building.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Darya Sinusoid\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Darya Sinusoid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/\"},\"author\":{\"name\":\"Darya Sinusoid\",\"@id\":\"https:\/\/www.shortform.com\/blog\/#\/schema\/person\/0421cce75bc249b11e2517b3a91f9c46\"},\"headline\":\"The 3 Simple (But Not Easy) Steps to Building Wealth\",\"datePublished\":\"2022-12-27T21:33:00+00:00\",\"dateModified\":\"2022-12-30T14:42:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/\"},\"wordCount\":552,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shortform.com\/blog\/wp-content\/uploads\/2021\/06\/wealth-building.jpg\",\"keywords\":[\"Unscripted\"],\"articleSection\":[\"Money\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/\",\"url\":\"https:\/\/www.shortform.com\/blog\/steps-to-building-wealth\/\",\"name\":\"The 3 Simple (But Not Easy) Steps to Building Wealth - 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