It’s About Time: Planning for the Future

You don’t have to read many professional/self-development books or blogs before you understand that real progress is made when you spend time working on your business rather than working in your business (see E-Myth Mastery or Work the System). For those who are unfamiliar, the idea is that you should actively shape how you want the organization to run rather than merely react to the demands (also known as distractions) that tug at your attention from all directions.

Likely everyone has felt busy yet unproductive at some point; it feels like there is never enough time in the day. This is a symptom of working in your business. The same concept can be applied to your personal life, as well.

Ok, so what does that matter? Well, chances are good that right now you are confined to your home with very little new business coming in and no soccer practice or after-school activities to shuttle your kids to and from. Drinks with friends, live music events, and bowling are all things of the past and hopes for the near future. Translation: there are no longer unmanageable and overwhelming demands on your attention.

Love it or hate it, working in your business or personal life (i.e., reacting to things as they come up) is not as much of an option as it was six months ago. Suddenly, you can sit back and take a breath. Then do some planning.

Savvy individuals will realize that this is the perfect opportunity to address the areas in their businesses and personal lives that have dilapidated, atrophied, or otherwise been put on the back burner. They might organize the pantry or closet, create or recommit to a budget, or even review their wills and financial planning.

Take control. Make a plan to make sure your life runs the way you want it to run rather than merely taking what life hands you. For so long you have worked hard to grow your business and take care of your family day in and day out. Now is the time to work on your business; make sure that you are prepared for retirement through financial planning; discuss your business exit strategy with your financial advisor; protect your business interests through trust and asset protection planning; provide security for generations to come through estate planning.

We can help, but it is your responsibility to make sure you and your family are cared for now, later, and for generations to come. Improve your mousetrap. Plan for the future and how you want your life to unfold.

Some will take advantage of the different world the pandemic has handed us and many will not. You have likely wanted to do this for years. The phones are quiet and the excuses are dwindling. It’s about time.

Guest post by:
Brian Paden, Esq.
Gordon Law Group, PLC
49 Music Square West, Suite 505
Nashville, TN 37203

If you’d like an objective second opinion about your finances, please contact Michael Shea, a CERTIFIED FINANCIAL PLANNER, at Applied Capital. Email him at [email protected] or fill out a contact form.

This blog is provided for informational purposes only. Such views are subject to change at any point without notice. The information in the blog should not be considered investment or tax advice or a recommendation to buy or sell any types of securities. Some of our blogs or information therein have been obtained from third party sources believed to be reliable but such information is not guaranteed. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular investor’s financial situation or risk tolerance. No reliance should be placed on, and no guarantee should be assumed from, any such statements or forecasts when making any investment decision.

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