Ringmaster Literacy

I was reading about "Financial Literacy" a few days ago. It's a basic concept that is found in many financially-based books. Many tout it as the way to begin creating real wealth for yourself. Here are the 4 key elements:

1. Understand the difference between an asset and a liability.
2. Concentrate your efforts on buying income-earning assets.
3. Focus on keeping liabilities and expenses to a minimum.
4. Mind your own business.

As I reviewed the process I began thinking about how I could apply this same process to how I use my time and energy. Kind of a "Ringmaster Literacy" if you will. Would it have the same effect? Let's look at it:

Understand the difference between an asset and a liability. I would evaluate every use of my time from the perspective of how it would contribute to my purpose (asset) or take away from an opportunity to accomplish my purpose (liability).

Concentrate my efforts on buying income-earning assets. I would look for ways to invest my time to get the best return on accomplishing my purpose. Not just spending it with no thought as to its future impact on my success.

Focus on keeping liabilities and expenses to a minimum. Every potential distraction or interruption would take only the minimum amount of time and effort from me-unless it was an opportunity to further contribute to my purpose. Sometimes you might get a chance to invest in something that was originally not in your portfolio. If you have built up some "wealth of time" you might be able to invest in it-and reap the rewards.

Mind my own business. I would look at what is important to me and my purpose. I would be my own ringmaster more often and not let others run my circus.

Hmmmmmm... it just might work.

Choosing Another Ringmaster For Your Circus

Last week I had an interesting comment in a training program. An older participant talked about how she was not always the ringmaster of her circus, especially now. When I asked her to explain, she commented that her two children took care of her medical care and handled all appointments, etc. She said that she had given them the job of being the ringmaster of that part of her circus. When I asked her what that meant to her, she said, "I don't have to worry about it-they take care of everything."

That's a new twist on the idea of not being the ringmaster of your circus in some areas. You find someone you have a deep degree of trust in and you give them a responsibility related to your life. In her case she trusted that they could make better decisions than she could. I would imagine that if there was a huge life or death decision to be made that she would have input, but she has released the every day responsibilities to them to improve her own life.

As I thought about her comments, I reflected on a situation with my mother. I handle all her medical appointments, prescriptions and make decisions about her care. Since doing so her health has improved and she doesn't have to worry about calling to set up appointments, opening pill bottles or trying to remember if she took her medication. It has "improved her circus" and allowed her to focus on areas of greater importance to her.

What are some areas of your work or life that you might need to look at allowing someone else to be the ringmaster? If not ringmaster, how about co-ringmaster?

The Phone Is For Me

It is important to be reminded on occasion that telephones/cell phones and email accounts are created as tools for you to use and that they also exist for your convenience. Just because the phone rings or the email pops up, doesn't mean that you have to respond, answer or read immediately. Subject lines and caller id are great tools to help you gauge whether or not you need to respond quickly (i.e. answer the phone or open the email). If you are doing something important or need to focus it is even better to turn off your phone and/or email completely.

You may have a job that requires you to answer and reply to calls and emails immediately. That is your job and you shouldn't ignore that responsibility. But more often than not, there are times when you should stay on task or give someone or something your undivided attention. Don't allow a call to interrupt your dinner with your family. Don't check email while you are having a conversation with a coworker or employee. Don't allow an email popup about "cute kittens doing funny things" interrupt your focus on your work. Schedule regular intervals to check email and voicemail so that you can stay in touch and respond appropriately but otherwise, try using the mute button.

The Value of An Escort Service

Got your attention with that one, huh? While talking with a client the other day they commented about their long hours at work and how they weren't taking care of their "self ring." But then they said things had recently changed and they were enjoying being at home more and actually eating lunch. What made the difference to her? Being an escort. Let me explain.

She works in a secure building requiring smart cards and a security clearance. She recently added two interns to her staff and they don't yet have their security clearance. So... she has to walk with them to the cafeteria for lunch and then walk them out at the end of their day. This forces her to at least GO to lunch and then end her day at a more reasonable hour. She said she forgot the benefits of lunch and getting home earlier until the interns came along.

That got me to thinking. What could be the triggers we put in place to help remind us of the importance of taking an "intermission" or not overexerting ourself in relation to work hours? For me it could be recording my six year old's voice saying, "Daddy, when are you coming home?" on my phone and then making that the alarm tone when I set it. It could be moving a picture of my family to a more prominent place on my desk before taking on that "one last task" at work to remind me to not work late-especially when I promised my family I wouldn't. Maybe engage the help of a co worker, who could come by your desk as they leave and tell you something fun they plan to do that evening.

What are some things you can think of that would help bring things back into focus for you so that you don't find yourself in the Juggling Elephants routine again?

The Choice-When You Are Not The Ringmaster

While standing in line to speak with a gate agent about a delayed flight, I overheard the person in front of me. It was a mother inquiring about her son, who was going on the flight alone. Due to the delay in the flight, she was concerned that her son would miss his connection and have to stay in Atlanta overnight-supervised by an airline agent. Any parent can understand her fears.

What was unusual was that the mother wanted the agent to guarantee her that her son would make his connecting flight. When the agent could obviously not assure her that would happen, the mother became very upset. The agent tried to improve the situation by offering the opportunity for the boy to take a flight the next day to minimize the chance of being stranded on his itinerary. Then the mother made lots of excuses about how much trouble it would be to have to come back the next day. Exasperated, the agent said, “It’s your choice-I have done all I can. It’s out of my control.” And to tell the truth, the same could be said for the mother.

It made me think of how often I want a guaranteed outcome-when its not within my ability to control. In those times I really need to make the choice of whether failure to achieve the outcome is worth the risk instead of paralyzing myself fretting over things I can not control. In the mother’s case, she had two choices-send the son on the trip and risk him being stranded for the night-or go home and try again the next day. Unless it was a medical or family emergency, I know which option I would choose.

The next time you’re not the ringmaster, remember your limits-and make the choices that ARE within your control.