in my studies and travels this week I have had a great time to meet with old friends (I've noticed that they are getting older?) And see the old neighborhood.
travel for some reason it just seems to Sapele. Although I still have financial problems, relationship problems, problems with work, travel makes me feel good about this country, the opportunity, my friends, co-workers and customers.
this week remembered the management concept called by abdicate. This is a concept that I first learned about in a book called The Legend of E.
before we get to that, though, I want you to know right up front that I am a seller. If you read this, you will be compelled to work, if you work with me, and I have made to the Commission. How is that in order to detect?
just want to tell you that from the get go, so there is no confusion later.
what is the administration through abdicate?
waiver is similar in meaning to the word assumption, but with some differences.
example that was used in my book, Michael Gerber called the myth of E talks about his work overshadowed who hires an accountant and brings him on board, and the employer is very excited to have someone help him to do this work, and it just builds up on the size of work on the new accountant just say ... "handle."
accountant, with the knowledge of accounting, nothing to him, and accounts. Since he did not have firm evidence, and the lack of a real trend, and I have no idea what it is to work everything, and makes decisions on the best information he had. Accountant certainly do not want the company to do a good job. When he goes to ask the "boss" question or two, the boss always answers ... "Just use your judgment, I trust you."
until the new accountant makes decisions based on his prejudices own, his own understanding, and objectives for the company ... This does not mean that I have done anything accountant wrong, but the owner has given him responsibility without guidance.
This is the administration through the waiver. Give someone the responsibility for something, without any goals, guidance, or checkpoints for that person to follow.
responsibility without accountability.
Have you heard of anything like this? Make sure you have. We hear all the time in politics, in big companies ... but what about in our personal lives .. Do you do this in our very own?
sometimes administration through abdicate is good, sometimes not.
, for example, it's good to get groceries. Take your favorite grocery store to have. We give up all kinds of responsibilities when they go and buy food. Obviously, we can not grow fruits and vegetables, and have cattle, slaughter pigs, etc. etc. to get the food we need. So we give up some of that responsibility. We assume that the retailer (supply chain) with an interest we have in mind ... I mean, after all you do not want to kill their customers that they do not? In general I think that the assumption that the grocery store does not want to kill you is the assumption.
most of them this daily abdications are those safe ... sometimes they are not.
really big area that I see a lot of management through the waiver is in personal financial planning arena.
Most of us learn the financial knowledge we have from our parents ... and unfortunately they are not great teachers, things are quite different now, and "retirement" (which many of them live outside of now) is almost a thing of the past (with the exception of some government employees ... but that's another talk for another day).
what our fathers taught us ... to get a good education, get a good job, and save your money, and you will be alright .... simply does not work anymore.
I faced a popular age (45 and older) can do all these things, and they're not OK financially.
Even where people turn to get this money for education, financial and retirement?
This is the problem .. They usually do not do. They give up this responsibility. They do not know the ins and outs of the investment vehicle, insurance and interest, to postpone taxes, cut taxes, etc. etc. etc.
and many of them do not even know how much money they're really going to need to retire.
so they just dump that responsibility on the financial planner, fund manager, or manager 401K in their work.
This is the administration through the waiver.
Is a financial planner, fund manager, or your boss have the best interests at heart? I'm sure they do not think about you from time to time, but what do you think is in their interest?
themselves !!
there is not anything wrong with the thinking of ourselves first. Let's be honest about this. I am interested in my favor, and you're you.
But is it smart to abdicate responsibility for our life savings to someone who has supreme self-interest that our interests?
I mean, if your account goes down a little bit is your financial planner personally "hurt" like you?
Why So we are ready to go to college for four years or more, and do that we may or may not like for 40 years, and then turn responsibility for our money so easily?
Do you really know what are our goals? You've set the checkpoints, and the guidelines and status updates, and review to make sure they do what you need it to do?
Was competitions in college to make sure you're on the right track. Your business gives you the deadlines and projects to finish with a time line ... why not "own financial plan, you give the same kind of tracking and guidelines?
If you are in the stage of your life where you are ready to restore responsibility for your money, your money, your retirement from each of you has a concession to ... let me know.
I earn money by helping people to regain control of the responsibility for their money.
this is what I do.
Let's take back responsibility. lets be responsible for our own lives. lets make a difference for ourselves first.
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