Disciplined – Yes or No?

ByMichael

As a 13-year-old young man, I had the dream job.  I was an entrepreneur.  An independent business owner.  I set my own work hours, I focused on a high service level and utilized a systematized advanced collection system.

I was a paper boy for The Dallas Times Herald.  A contractor responsible for serving the clients, creating new clients also known as new subscribers and collecting my accounts receivable.

The high service level was my ability to throw the paper accurately from my Schwinn Super Sport 10 gear bicycle and my aim was to “porch” every paper.

The systemized advanced collection system?  I bought a rubber stamp with my name and address and would stamp a blank envelope and include it with my paper that was delivered on the Friday closest to the month end. Included in the envelope was an invoice and instructions on how to pay with a check and mail to me by the 1st of the month.

When my manager found out about my “collection system”, he chastised me for not being attentive to my customers and told me I could not use it.

I had been using it for nearly three months and had seen the success of having nearly 65% of my client send me checks in the mail eliminating the dreaded door to door collection.  Going door to door was very ineffective and a complete waste of time for a 13-year-old.

I kept my collection system and realized at a young age that not everyone was ready for changes in how “the system” worked.

What I didn’t understand was the discipline that having a paper route required.  It was expected that you would have the afternoon paper out by 6:00 PM and the Sunday paper by 6:00 AM.  I adhered to those expectations and never thought twice about it.  Yet it was the built-in discipline that defined whether my entrepreneurial job would be a success or a failure.

In my Summer Reading, I read The Checklist Manifesto: How to Get Things Right by Atul Gawande This book has important applications to every aspect of life; personal and business.

In the last few pages of the book Gawande writes:

      “Discipline is hard—harder than trustworthiness and skill and perhaps even than selflessness.  We are by nature flawed and inconsistent creatures.  We can’t even keep from snacking between meals.  We are not built for discipline.  We are built for novelty and excitement, not for careful attention to detail.  Discipline is something we have to work at.”

We see the lack of self-discipline every day in our life.  Whether it impacts you immediately or it takes longer, it remains the constant daily struggle for all of us.

Financial discipline requires the ability to follow a process and avoid emotional responses that create inconsistency.  Our role as advisors is to assist in defining and guiding our clients toward remaining disciplined toward their life goals.

Every day you punch your own ticket towards your future on the train of life.

Are you advancing towards your goals or merely riding life’s merry go round in a never-ending circle of confusion?

Tell me where you are in your journey.

Michael Tannery CPA CDFA® AIF® ●  CEO
Registered Principal

Be A Financial Olympian

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    Wasted Time

    ByMichael

    What is wasted time?
    Unscheduled, unplanned time doing the simple things of life
    As kids out summers were spent riding our bikes, playing in the creek or playing any game we could make up. All of this was outside and required very little parental supervision.
    Ain’t it funny how the best days of my life was all that wasted time
    – lyric from Keith Urban’s song – Wasted Time
    Today, I observe adults and children over scheduled with activities and over connected with every electronic device possible. Wasted time is where creativity is created.
    We are the “Attachment Generation”.
    Based on my observation about us becoming the “Attachement Generation”, I began to pose this question to friends and clients in my conversations.
    “What is your daily routine and how connected are you”.
    The #1 answer was – immediately when I get up or I take my phone to bed with me.
    I would get the answers and ask my favorite question – why?
    Why do you have to keep your phone with you, even taking it to bed?
    Why do you immediately look at it when you wake up, no matter the time of the night?
    They answered with various reasons that attempted to make the attachment to their phone seem normal.
    This simple idea of not having your smart phone with you 365/24/7 caused people stress.
    “When people are so plugged into their devices around the clock, they often lose the ability to be fully present to themselves and to other people,” says Jeffrey Rossman, Ph.D., director of Life Management ar Canyon Ranch in Lenox, Massachusetts. “It negatively impacts our peace of mind and relationships with others.”
    When is the last time you had “Wasted Time?”
    If “I can’t remember” is your answer then you have become part of the Attachment Generation. It is time for a digital detox and some “Wasted Time”.
    Take my seven steps toward finding your Wasted Time.
    1. Let go of the phone – start with taking it out of the bed. Your phone needs to sleep in the other room, not in the bed or on the bedside table. I made this change and the results are positive. (the phone was on the bedside table)

    2. Don’t touch your phone for the first 30 minutes of your day. Let your mind and your body refresh from the night’s sleep.

    3. Eliminate all of the “push” notifications on your phone and your desktop. This also includes your watch. I see many people distracted and looking at their smart watch for the text notifications during a meeting. It is unprofessional and inconsiderate.

    4. Drive your car without looking at your phone at stop lights. (No texting should not even be mentioned)

    5. Stop using your phone to occupy all of your free time. If you are standing in line at the grocery store, it is Ok to let your mind be unoccupied.

    6. Meals are Digital Free.

    7. Plan some wasted time each day without a screen in front of you. That includes a TV. Go workout, take a walk or have a conversation with your spouse, your children or take a bottle of wine and go visit a neighbor. I prefer reds however a chilled white will work this summer.
    Be honest
    You probably use your smartphone way more than you should, but you’re far from alone. It’s addictive checking social media, playing games and of course just staring down at it when you’re in a socially awkward situation.
    Try either taking the Apps off your phone or try one of these six apps to break your addiction.
    Tell me about your results of finding your Wasted Time.