Make You Own Retirement
Your retirement is truly your business, but is it really enough to get you across the finish line comfortably? Perhaps not as much as you might hope. By creating a robust business, you not only pave the way for extra income but also build a retirement plan that keeps on giving, providing you with ongoing financial support well into your golden years.
Rewriting your retirement - Create a business that inspires your passion and funds your next move.
The common belief regarding the length of time it typically takes to achieve meaningful success is largely a myth. Many people think that success follows a specific set timeline, perhaps influenced by stories they’ve heard or examples they’ve seen, but the reality is that it can vary significantly based on numerous factors, including individual effort, opportunities, and personal circumstances.
The decades ago path of working diligently for 40 to 50 long years at a single job, while patiently waiting for the boss overlords to show any signs of genuine concern for the retirement package that was once promised to the ambitious flying car generation and excited visionaries, has certainly transformed considerably over the years.
Now, remote work—along with the remarkable return of the once-abandoned trades that had long been forgotten in our educational institutions—and a multitude of exciting entrepreneurial adventures now fill our conversations and humor our boundless imaginations. I genuinely and sincerely desire to see this transformation take shape in our lives too. These concepts, while not entirely new ideas, have taken on fresh significance and deeper implications in today's ever-changing world that we navigate. Remote work now carries a new, profound meaning, an evolution beginning with the haunting sounds of bullets flying in far-off foreign lands and extending to the regular daily trips to jobs outside our homes, all of which have been dramatically transformed by recent global events. Similarly, the trades—which were once integral to every school's curriculum but were subsequently neglected in favor of other subjects—are now being revitalized thanks to the introduction of newer and more advanced technologies, paving the way for an entirely new generation of skilled workers. Moreover, the realm of entrepreneurial endeavors that were previously concentrated significantly on the manufacturing sector and the noble task of building America has now shifted toward the dynamic and innovative selling of America itself. This transformation involves curating unforgettable, unique experiences for consumers that resonate deeply within our swiftly evolving society.
Evolving the society has not been an easy road and constant change mark the pains of change at regular intervals within the generational gaps. As our education levels have increased due to the college attendance push so has the needed education of our starting positions. This may sound great on the surface however it pushes younger aged persons out of the running and focuses on the older community to fill those spots. But is age the real factor? Is old age considered a drain on resources? All valid questions but not the main point.
Is old age really correlated with weakness anymore? In today's rapidly evolving world, the new retirement plans require both men and women to embrace the later years of their lives with fierce determination and unwavering confidence. With numerous advancements in healthcare, education, and lifestyle choices, we are now able to cultivate not only stronger bodies but also sharper minds, effectively challenging the traditional notions of aging that have long been accepted. As we navigate this exciting chapter of life, it’s essential to recognize that age does not define our capabilities but rather offers us new opportunities to thrive.
The 80/20 Rule, or Pareto Principle, suggests that 20% of actions yield 80% of results. Recognizing this can enhance productivity and goal achievement. Identify key areas in your life—such as projects or relationships—that deliver the most value. For instance, in your career, concentrate on the top 20% of projects that generate the highest returns. Evaluate daily activities to find which tasks bring the most satisfaction and progress. Learn to say no to less critical tasks, freeing time for what matters. Adopting the 80/20 Rule can transform your approach to responsibilities, allowing for a more fulfilling life with less effort.
Even with the new expectations and an internal passion to outsmart the conventional notions of retirement, the mindset shift is undoubtedly the real change that is currently taking place. Just recently, I had the opportunity to attend a network meeting with Work Our Network, where it was truly remarkable that not a single person brought up sales as their number one goal. Instead, the primary concerns revolved around passion and the deep desire to help others. Of course, achieving sales is essential in any business model, but what was truly fascinating is that problem-solving became the primary driving force behind the conversations. This reflects a significant evolution in how we view success and purpose in our professional lives.
Our primary purpose as we head into the future, amidst the numerous challenges brought on by recessionary struggles and the unsettling effects of inflation scare tactics, is to bolster and enhance the overall strength and resilience of entrepreneurship. Our goal is not only to help individuals and businesses survive during these trying times but also to empower them to thrive and achieve greater success in the long run.
3 Things to do NOW!
The future is not coming, it’s here.
Success is rarely a straight line; it's more like a winding road filled with twists, turns, and unexpected detours. Embrace the journey, for every setback is an opportunity to learn, adapt, and grow. The bumps along the way teach resilience and ignite creativity. Celebrate the small victories and the lessons learned from failures, as each step—no matter how rocky—brings you closer to your goals. Remember, the climb may be steep, but with perseverance and a positive mindset, those scenic views at the summit will make the journey all the more rewarding.
Why are those 3 main todo items so important? We were once told to work hard and the company would take care of you - that died out with Enron scandal, and other company let downs. We were once told just buy a house and that will help you retire rich when you sell it and downsize to Florida - that crashed and burned. We were once told if you get a degree in anything you will be a CEO someday and make millions - that was false.
Catching the trend?
Entrepreneurship, in my mind, is undeniably the only truly positive tool that we can embrace and effectively utilize to create a brighter and better future for ourselves and our communities. It involves relying heavily on self-imposed planning, strategic thinking, and cultivating internal fortitude to reach the financial and personal goals you are ambitiously aiming for. This significant shift from having others manage or plan your retirement to taking that essential responsibility into your own hands requires a considerable amount of self-actualization, resilience, and personal accountability. Sadly, this is a challenging path that many people tend to avoid pursuing, often out of fear, uncertainty, or even doubt about what lies ahead in the entrepreneurial journey.
But not YOU!
If you are reading this, then I’m betting you are actively on your unique path to gain the upper hand on life and seize every wonderful opportunity that comes your way. Retiring is probably only a stepping stone to yet another exciting adventure, and that’s perfectly okay. The longer we are living, the richer and more meaningful our experiences become, which gives us ample time to level up again, again, and again. Embrace the journey, because each moment is a chance to grow and explore new horizons!
New Secret Mentors
Is it better to have a theme of books or read books by random? This connection was by accident and worked out amazingly well.
Right off the tail of reading Upstream, by Dan Heath, is the awesome book The Logic of Failure, by Dietrich Dorner.
Within the realm of facilities management, we all shoot for the glorified predicative maintenance program. However, we usually reside in a reactive position. It’s mentally draining. Unmotivating.
How come we cannot seem to get past that stance? I say “we” because I’ve worked for many organizations and have seen levels ranging from both extremes. It’s brutal that the thinking is not the same in the industry. This one-two combo of books is a great way to extract a solid plan for your facility, more important though is how to develop a plan to calculate success.
The Upstream notion is difficult for most as the current thought is - if it isn’t broken, why fix it. This is common. Dan mentions “Downstream work is easier to see”, so then the dilemma is, when we do not think about something consistently, we lose sight of it. Then a year passes, then two, unconsciously we slip into a run-to-fail scenario. Imagine the emergency lighting in your facility. Have you checked it lately? Have you saved funds to replace any? Now if you are in a facility with one, that’s not much and can be accommodated well. The struggle for the organization is – what other things will be slipping into end-of-life? Now the next scale of organization may have a larger burden of expense. And let’s not forget about the safety of your staff.
Upstreaming is the golden level of preventative maintenance. But it is hard to pay a worker to fix things before they break. Right? The balance comes from trying to find that line where you reduce the occurrence of repairs to zero and increase the value of the employee to contribute to the profit of the organization. This is the crux.
Now without spoiling the book for you there are a few barriers to becoming an Upstream hero – “problem blindness” or that’s just how it is mentality. Refusing to see the problem in hopes that it will magically disappear. Not good. These authors showcased the dangers within ourselves to struggle with not being able to see the problem as a condition of the environment we are in. Their suggestions/hypothesis was centered around the idea our inability, in general, to not be able to visualize the situation and the unintended consequences was at the heart of the trouble. The mastery of these books is that they have shared many tools that can be used to map out a situation and test the hypothesis of the outcomes.
There were two major examples given in the books that were traced out in beautiful detail. The Chicago Public School graduation rate and the Chernobyl incident. Tracking the change in situation and using the model they used the unintended consequences of not doing anything were clear. The walk away from this was a siren call to perform after action reviews from any project.
“ “If we act on the basis of a more or less randomly generated list of complaints, we necessarily remain captives of the present moment.””
One major highlighted quote (Dorner) is “If we act on the basis of a more or less randomly generated list of complaints, we necessarily remain captives of the present moment.” – this encapsulates the concept of reactive maintenance. To switch from this stance an investment of time, money, and/or material is needed. There is no way around it.
Heath and Dorner have now become secret mentors of mine. Their direction within the books is not simple nor do they claim to give a simple answer. Predictive results require planning and reviewing.