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Busy Isn't Always Productive
by Dane Czaplicki on Sep 23, 2024
When I read this in the 12 Week Year, “In spite of the proven benefits of working from a plan, not everyone does so. One reason is that many people have a bias for taking action. While an action bias can be a good thing, it can also get in the way of effective execution. We can get impatient and want to get on with things too quickly. An effective plan takes time to create, and it requires some hard work. It may seem counterintuitive, but by taking time to plan upfront, the overall time to complete a task can be significantly reduced.” ….I was like that is so me.
Don’t get me wrong. I do lay out plans and set goals and work towards them. But I also fall prey to activity for activity’s sake. Busy is good right. Not so much. I have found with age that our busy epidemic is more an inefficiency epidemic where we spend way too much time reacting to the exponentially growing amount information and distractions, rather than making sure we have blocked time for that which is most important.
As Brian Moran discusses in The 12 Week Year, a well-crafted plan takes time, effort, and focus. Although it may seem counterintuitive, the act of creating a plan upfront significantly reduces the time required to achieve goals in the long run. Instead of rushing into a flurry of activities, spending time planning allows us to prioritize high-impact actions and reduce distractions from reactive, low-value tasks that compete for our attention.
The Trap of "I Know What to Do"
Many people fall into the trap of thinking, I already know what I need to do, so I don’t need a plan to get it done. But this mindset misses a key point: to increase your odds of success, having a written plan is essential. A plan helps you prioritize proactive, high-value tasks over getting sucked into the endless stream of reactive, non-value-add distractions.
By having a clear, written plan, you are more likely to stay focused on the right things every day, moving consistently toward your long-term goals.
Fiercely Consistent Focus
A vital aspect of effective execution is maintaining fierce consistency. The focus should be on the few vital actions that truly drive results. While your vision may extend 5, 10, or even 30 years into the future, the steps to increase the probability of success often begin today. However, these critical steps are frequently delayed because there is no sense of urgency.
To combat this, shortening your time horizon and creating a sense of immediacy is crucial. By breaking down long-term goals into shorter-term milestones, you can build momentum. When you share these interim deadlines with others, you create accountability, which further accelerates progress toward your goals.
The Power of SMART Goals
A good plan always starts with a well-defined goal. One popular framework for setting clear and achievable goals is SMART:
- Specific: The goal should be clear and unambiguous.
- Measurable: Use metrics to track progress and define what success looks like.
- Achievable: Ensure the goal is realistic, considering time, resources, and potential obstacles.
- Relevant: The goal should align with broader objectives.
- Time-bound: Set deadlines for when the goal should be achieved.
With a well-constructed SMART goal, it becomes easier to develop an action plan that lays out the steps to success.
Why Shorter-Term Planning Works
At Members’ Wealth, for our clients, we’ve adopted this approach by shifting away from annual planning. Just because a goal may be far off doesn’t mean there aren’t important actions to take today. Our process involves working with families to define long-term goals and then break them down into manageable steps.
We prioritize quarterly meetings to revisit each family’s goals and track progress. At the end of each meeting, we create a to-do list for the next quarter, assigning responsibility for specific tasks to either the family or to Members’ Wealth. This ensures that everyone is clear on what needs to be done, when, and by whom, helping to move the plan toward its ultimate goal: success!
By consistently revisiting and refining the plan, we ensure that progress is made, and goals are achieved efficiently and effectively.
Conclusion: Take the Time to Plan
In today's fast-paced world, it's easy to get caught up in the desire to act immediately. But as The 12 Week Year teaches us, taking the time upfront to develop a solid plan is key to increasing productivity and minimizing wasted effort. Whether your goals are personal or financial, success often boils down to consistently focusing on the right actions at the right time.
So, the next time you feel the urge to dive into action, remember; slow down, create a plan, and set yourself up for long-term success. At Members’ Wealth, we guide families through this process, working to bring them closer to achieving their goals with clarity and confidence.
About the Author – Dane Czaplicki, CFA®
Dane Czaplicki is CEO of Members’ Wealth, a boutique wealth management firm that offers a comprehensive approach to serving individuals, families, business owners, and institutions. The firm’s goal is to preserve and grow its clients’ wealth to endure over time, while thoughtfully evolving its strategy to suit an ever-changing world. With over 20 years of wealth management experience, Dane and the Members' Wealth team thrive on bringing clarity and confidence to clients' unique situations. He believes everyone needs sound financial advice from someone whose interests are aligned with theirs, and is determined to put service before all else.
Dane received his MBA from The Wharton School of Business at the University of Pennsylvania and his bachelor’s degree from Bloomsburg University. Outside work, he enjoys spending time with his wife and kids, hiking and camping, reading, running, and playing with his dog. To learn more about Dane, connect with him on LinkedIn.
To get in touch with the Members’ Wealth team today, I invite you to email info@memberswealthllc.com or call (267) 367-5453.
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Members’ Wealth does not provide legal, accounting or tax advice. Please consult your tax or legal advisors before taking any action that may have tax consequences.
This commentary reflects the personal opinions, viewpoints and analyses of the Members’ Wealth, LLC employees providing such comments, and should not be regarded as a description of advisory services provided by Members’ Wealth, LLC or performance returns of any Members’ Wealth, LLC client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Members’ Wealth, LLC manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results
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