notes from the principle of the path 1. your pathway and destination 2. attention and decision...
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Notes from The Principle of the Path
1. Your Pathway and Destination2. Attention and Decision Making3. Emotion and Decision Making4. Today’s Decisions, Tomorrow’s Future5. Regret6. Execution
By Andy StanleyYou
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1. YOUR PATHWAY AND DESTINATION
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Good Question to Ask Yourself?
In light of my past experience, and my future hopes and dreams, what’s the wise thing to do?
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So What! Good Intentions
True or FalseGood intentions, aspirations, and dreams are more important than the decisions we make.
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Direction – Not Intention
True or FalseDirection (execution, good or bad)NOT IntentionDetermines our Destination.
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Decisions and Destination
True or FalseEach decision is a step that will determine your destination.
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Living Beyond Your Means
True or FalseLiving beyond your means is not just a financial decision; it leads somewhere. . . It is a path.
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2. ATTENTION AND DECISION MAKING
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Attention(The Beginning of the Pathway)
True or False
Attention determines direction, and direction determines your destination
So, pay attention to what you are paying attention to
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What grabs your attention?
True or False: Usually there is a strong emotional appeal to the things that capture our attention.
True or False: Often the things that grab our attention lead to regret.
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3. EMOTION AND DECISION MAKING
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Emotion
True or False: Emotions cloud our ability to see things as they actually are.
True or False: Emotionally driven decision making rarely leads us down the right path.
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Which are emotional charged decisions- often the first step of the pathway?
Accepting a job, moving, changing careers
Buying a new car
First kiss
Getting married
Having children
Getting divorced
Buying a home
Deciding to retire
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4. TODAY’S DECISIONS TOMORROW’S FUTURE
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Today and Tomorrow are Connected
True or FalsePrudent people look as far down the road as possible when making decisions.
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Do People Live as If Today’s Decisions are Connected to Tomorrow’s Results?
Smoking Michael Vick and Aaron Hernandez Over spending– new car, clothing, chocolate Not saving or investing
We think we will beat the odds.
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Difficulty of Knowing the Impact of Our Choices
True or False We make choices today and won’t know the effects of those choices for years or decades.
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5. REGRET
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True or False
Many individuals want to discuss their problems.
They do not have problems.
They chose the wrong path.
They need a new path.
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Broken DreamsThere are no “do overs”
True or False
We cannot go back in time, reset the clock, and recapture those years.
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Rearview Mirror
True or FalseIn the rearview mirror it becomes obvious that we are all following a path of some kind.
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6. EXECUTION
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Not the lack of understanding
True or False
The problem with making the right decision is not the lack of
understanding, but the lack of execution.
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P. 82
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Wisdom and Experience of Others
True or FalseYou will never reach your full potential without tapping into the wisdom of others.
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Have I just wasted 200 minutes X 15 weeks-- Plus?
If you do not execute, should I take it personally?
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Class Assignment
List 10 financial planning tips for a recent college graduate.