A Plan Without Action is Just a piece of Paper

Posted by siteadmin on Wednesday 18th November 2015.

An hour or so before my wife and I were jetting off to Tenerife for a week in the sun a few weeks ago, my iPhone ‘pinged’ to inform me an email had come in.

It was from the company that runs the karting races I regularly compete in. They were offering a chance to take part in a one and half hour endurance race at the former Olympic Stadium in Stratford this coming Saturday 21st November.

This was to feature as part of a huge event called the Race of Champions, where some of the legends of Motorsport would be competing. Current F1 stars of Jenson Button, Nico Hulkenberg, Felipe Massa, Daniel Ricciardo and Sebastian Vettel were all due to be there.

This was an opportunity to race on the same track which a couple of hours later would see the biggest names in Motorsport flying round.

As I was sitting in the airport lounge I considered holding off on a reply until I returned from holiday. But then a little voice in my head said 'Les, what the hell are you doing? This is a once in a lifetime opportunity, go for it.'

The season ending Race of Champions is taken around the globe and this year, it was back in London. So again I said to myself 'Who knows when the UK would see it again if at all?'

I listened to my inner voice and decided to see if we could get a team together and signed up immediately. It was a good job I did and didn't procrastinate as I would have missed the boat. The number of spaces available was limited and were all taken within 48 hours.

I have seen the effects of procrastination in the past. Usually, when people have come to see me for the first time.

We've had an exploratory chat about what's concerning them, their financial situation, objectives and where they want to be in the future and always instigated by them. I've concluded these initial meetings by asking people to make a decision about what they want to do next. Particularly, for their benefit rather than for me.

It’s by no means a hard sell tactic as it doesn't have to be straight away, but I always encourage people to take action.

You see they could choose to employ my services or for whatever reason decide to work with someone else.

That’s perfectly fine. But the vitally important thing is that they've made a decision which will give them a purpose of taking action with a measure of control of their life and finances in the future.

The worst decision is to make no decision. Or, no action.

To just carry on as they are or worse still, establish a plan (perhaps on their own) and fail to implement renders it just a worthless piece of paper.

In such a situation, what's usually tended to happen is that they trundle along for another five or six years until a further life event of some sort causes more stress and pushes them to seek financial planning advice again.

Here, the opportunity to have had a working plan in place during those intervening years has been missed.

As we all painfully know life is short and it can throw up some unpleasant surprises. Sometimes you just have to be brave, fly by the seat of your pants and take the plunge.

Look out for my next blog where I’ll let you know how I got on at the Race of Champions.