Tag: planning

Categories
wisdom

Prudence and Wisdom

Prudence and Wisdom

The prudent understand where they are going, but fools deceive themselves.

Proverbs 14:8

Prudence has come to mean something totally different in our culture. A prude is considered a killjoy that never has any fun. If you have a balloon, the prude will pop it. If there is any excitement, our culture believes a prudent person will quash it.

We idolize the startup that will “move fast and break things.” The minimal viable product is considered the best way to get something to market without it getting bogged down in experimentation, consideration, and tweaking. And sometimes that is a great way to move.

But there are other times when prudence is needed. Moving fast without planning can hurt. The story of Theranos and the ensuing trial shows what can happen when one moves too fast without a real plan or product that actually works.

The True Definition of Prudence

Prudence is less about being a killjoy and more about using planning, good judgment, and careful consideration in any venture. We need to have a plan before forging ahead. Moving fast doesn’t work if we are going in the wrong direction.

Prudence is taking caution and considering the outcomes. It is seeking and implementing advice where warranted. Just as there is such a thing as being too cautious, it is also possible to be too impulsive and spontaneous.

A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.

Proverbs 22:3

Fools rush in where angels fear to tread. Let’s use a little prudence in business and life.

Categories
Bible Proverbs

Proverbs 16:9

We can make our plans, but the LORD determines our steps. Proverbs 16:9

We can make our plans, but the Lord determines our steps.

Proverbs 16:9 (NLT)

Proverbs 16:9 reminds me while it is good to plan, there are things I cannot predict, nor prepare for.

That may not feel very comfortable. Good and bad things happen every day. Layoffs, tough breaks, and a worldwide pandemic are just a few items that don’t make us feel great.

We can debate why things happen or if they ever should occur. But in the end, It is foolish to fight the unexpected things we can’t influence.

Lots of change will come into our lives.

  • Some of it will be good
  • Some of it will be uncomfortable
  • There will be unexpected twists and turns
  • One or two can be happy accidents
  • Others can feel tragic and unfair
  • Then there will be some that will make us shake our heads and roll our eyes

I choose to embrace the change God brings into my life. I will continue to plan and prepare for what I can foresee. But there are events, mishaps, and surprises no one can predict. It is best for me to know what I can control and make positive changes, while I let go of what is simply out of my jurisdiction.

Categories
Business motivation

Transitions: The Waiting is the Smartest Part

When I read this Inc.com article about United Airlines and the importance of smooth leadership transitions in business, I was impressed by how a CEO and leadership had the wherewithal to leave a business on good footing. What was more impressive is that the transition has occurred during the coronavirus pandemic and that by outside observations, it has been a smooth transition from to Oscar Munoz to Scott Kirby.

All airlines have had some rough times lately. What would have happened if the former CEO didn’t have a plan? Would United be in a much rougher spot? Would Munoz have been forced to stay on while the crisis dragged on?

Transition plans matter, but can be tough to plan and implement. It forces the leader to acknowledge they won’t be there forever. It is why Summer Redstone of Viacom and Rupert Murdoch of News Corp have had such a hard time with it. Their egos and the required humility to face your mortality can be too much for many leaders, especially if they founded the company.

But if you want an entity that will outlast you, a healthy, thoughtful transition is necessary.

Categories
motivation

How can I Improve My Economy?

Cartoon of a boy with a bandage over a dollar bill. he says to his dad, "Now that I fixed the economy, can we talk about something else?"

The current crises with the novel coronavirus may cause you to ask, “How can I improve my financial outlook during the COVID-19 outbreak?”

We’ve been through economic hardship before. When I drew this cartoon, we were going through the last economic crisis thanks to the housing bubble and junk mortgages. Many people found they owed more on their homes than they were worth. It definitely affected the 2008 election.

That felt overwhelming. Now we face a new economic crisis. According to The Wall Street Journal, this may be the worst downturn since the 1940s. Many businesses have been shuttered for over a month. There cautious talk about opening businesses. Yet, the virus that has dominated our thoughts for weeks is far from conquered. While some governments are allowing businesses to open, some business owners have chosen to stay closed because they feel it is too soon.

How can I improve my economy when everything feels so uncertain right now?

There are a few lessons I learned from the last financial crisis.

  • Focus on the things you can control
    • You can control your attitude
    • You can control your outlook
    • You can practice safe distancing and hygiene to prevent this virus from spreading
    • You can control how kind and helpful you are to others
    • You can plan for the future
    • You can change tactics even if it feels uncomfortable
    • You can make a situation worse or better by your actions
    • You can limit your news consumption so you’re not listening to the same doom and gloom for hours on end
    • You can listen to positive, uplifting music, audiobooks or podcasts
  • Let go of the things you can’t control
    • You can’t control nature
      • today’s weather
      • the novel coronavirus
      • that skunk on your biking trail
    • You can’t control another person’s actions or reactions
    • You can’t control governments and politicians (though you can make your voice heard by voting and calling those who represent you)
  • Start brainstorming of what this makes possible today
    • Can you learn a new skill?
    • Can you launch a new business that thrives in the new reality?
    • Can you volunteer in a position you always wanted to do?

Putting a bandage over a dollar isn’t going to fix the economy. Individually, we may not be able to fix the macroeconomy. However, each one of us can affect our microeconomy. Each one of us is an economy unto ourselves. It may be difficult while negative events are still unfolding. However, our attitude, combined with faith, hope, and a plan, can get us through the other side of this crisis. And remember: there will be another side of this. Keep the faith, and keep looking up!

Cartoon of a boy with a bandage over a dollar bill. he says to his dad, "Now that I fixed the economy, can we talk about something else?"
Categories
motivation

A New Year of Risk and Reward

Happy New Year! I am with the camp that says January 1, 2020, is the start of a new decade too. So there is even more reason to celebrate!

Have you made your new year resolutions? No? I’m not one to hype resolutions either. They can be too vague and there just isn’t enough planning involved. However, if you are prey, then I agree with the sheep in my cartoon. He really needs to put his resolution into action, and quickly!

Cartoon of a sheep and a wolf

Instead of making resolutions, I am going to spend the day working out my plan with my wife. We have never been more fired up than now. It is exciting to break out of a routine and dream of what is possible. Yes, we are willing to take risks by faith. After all, we are fooling ourselves if we think there is any risk-free life. I love this quote by General Douglas MacArthur.

There is no security in this life. There is only opportunity.

Douglas MacArthur in Instant Inspiration

Too many of us think we have security. We may not like the way things are, but they are secure. It’s been this way for a few decades, why rock the boat? Just hold on until retirement and endure the current situation. We may not realize that philosophy is just as risky as trying something different.

The reality is we don’t know what the next day will bring. I don’t know what is in store for me. So I might as well dream big, plan, and take some risks. Playing it safe assumes I know exactly what will happen in the future. I don’t. What I think is safe can crumble in an instant. This is coming from a guy who experienced two layoffs in his lifetime. My father took early retirement from a seemingly conservative, stable company rather than experience a layoff. A seemingly stable business can crumble overnight.

Yes, I don’t know what tomorrow may bring. So I might as well, dream, plan and take some risks for the new decade. The reward could be huge.

How about you?