I have read a number of posts in various forums about assessing your financial position, reviewing assets and liabilities, as a starting point for deciding on an investment strategy. When deciding on goals to set and the path to achieving them you can do a similar exercise, so you can work your strengths, work on some weaknesses, and outsource the rest.

In this exercise Assets may be things like money, job, knowledge, skills, passion, persistence, hardworking, a supportive partner and a network of useful contacts. Liabilities might be debt, access to capital, lack of knowledge or skills, self-doubt, lack of confidence, or no drive.

Taking stock of your personal balance sheet enables you to craft the goal based on your strengths. You may craft a Discovery Goal, preparing for the journey to reach a goal by addressing your liabilities. Some you may decide to work on, such as developing knowledge or a skill. Some you outsource to others who have a strength in that area and bring them onto your team.

One key asset, however small, is your network. This asset that is always worth building as it will tip the balance (pun intended) in your favour  and provide access to resources to aid in the areas you are weak.

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