However, there are much deeper reasons for encouraging people to formulate life goals.  The process is transformative, especially when done through a conversation with a friend, planner or coach.  It is also energising and brings vigour, clarity and focus to one's life.  Stephen Covey in his widely acclaimed book "The Seven Habits of Highly Effective People" calls Habit Two "Begin with end in mind". In other words, it is much easier to get where you want to be when you know where you're going.  

Jeremy Deedes, Director of Planning for Life, recalls an early example of this when, many years ago, he was learning to drive  along the twisty road between Ampleforth and Oswaldkirk.  His first lesson was a very slow and wobbly progress along this road until he reached the little passing place at the bottom of the hill just past the College. Here his instructor asked him to pull in and then asked him whereabouts on the road he was looking.  He responded by pointing at the nearest patch of tarmac he could see in front of the car bonnet.  His instructor suggested that instead he look as far ahead down the road as possible and when he started, lo and behold, their progress turned into a straight line down the left hand side of the road and out of the ditch.

For entrepreneurs, life goals have an additional signifcance. If, as Michael Gerber so succinctly puts it, the main role of business owners is "to create more life for themselves", then those core life goals will provide the fundamental structure, direction and energy of the business.