moneyFYI
Financial Freedom Is Merely Organized Common Sense
When Things Don’t Work Out
We know success is conditioned by several things. The common ones are:
- Knowledge
- Skill
- Experience
- Attitude
- Work ethic
- Network
As a collection – “Ability” to achieve success.
None of these or even all of them guarantee success.
The other part of success is about desire. Drive may be a better word. What standard of achievement do you expect of yourself? Like Nike, “Just do it.” Are you willing to settle for an outcome that is less than your best?
When you have the ability, and you have the desire, the want just happens.
When the result does not happen, something is missing. Your mission, should you choose to accept it, is to find out what aspects of the success formula are missing. It requires some humility and objectivity.
If you know what is missing, you can work on correcting the deficiency. Start soon and work hard at discovery.
If you don’t know what’s missing, what chance of success do you have? Life is time-limited, so taking a long time to figure it out means it might never get done, or if it is done, there will not be much time to apply what you learn. That’s a significant risk.
The problem with potential
If someone is diagnosed as having potential, they may stop there. Unfulfilled potential is standard. High achievement at an intermediate level may preclude success at a higher level. We see it with young athletes. If someone has always been the best player on their team somewhere around age 15 or so, they will begin to fall behind if they have not developed a work ethic that causes them to grow to a higher level. I met someone who had coached Eric Lindros when he was 12 or so. According to him, he was not the best player on the team, but you could see the potential. He worked harder thane everyone else, though.
The moral of the story is high achievement people are never finished.
Learn to push your limits. Never assume you have it made.
Hard work beats talent when talent doesn’t work hard.
The bit to take away
Success is never given. There is always a reason. Be sure you know the things that govern it, and apply your best efforts to achieve where it matters.
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I build strategic, fact-based estate and income plans. The plans identify alternate ways to achieve spending and estate distribution goals. In the past, I have been a planner with a large insurance, employee benefits, and investment agency, a partner in a large international public accounting firm, CEO of a software start-up, a partner in an energy management system importer, and briefly in the restaurant business. I have appeared on more than 100 television shows on financial planning have presented to organizations as varied as the Canadian Bar Association, The Ontario Institute of Chartered Accountants, The Ontario Ministry of Agriculture and Food, and Banks – from CIBC to the Business Development Bank.
Be in touch at 705-927-4770 or by email at don@moneyfyi.com.
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