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I Can’t Help You

Category : Career, Finances, Habits

It’s my job, my mission to help people with their careers and finances. I enjoy it and I’m good at it. But that doesn’t mean I can help you.

The simple fact is that some people are beyond help.

It’s not that their situations are beyond repair. I’ve seen some pretty bad situations while coaching, but there are paths forward for all of them. The problem is that some people simply want a magic pill to solve all of their problems. They have blinded themselves to the reality of their situations and don’t want help…or won’t admit they need it.

So, if you simply need a friend to pat you on the back and let you wallow in the pit you’re in, I’m not the coach for you. But if you’re sick of where you’re at…if you hate your job or aren’t reaching your financial goals…let’s talk. If you’re ready to make changes and work hard, let me know.

I can help you.

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Death Spiral

Category : Habits, Lessons Learned

If you’ve ever been to an air show, you’ve probably seen a pilot put an old airplane into what appears to be an out of control tumble towards the ground, only to save the plane and pull out of the spin at the last moment. It’s really a cool stunt, and it’s really dangerous.

But sometimes they don’t make it.

These death spirals can pop up in other areas as well, and no one but a stunt pilot would enter into them on purpose. In business, we can be doing good work, but market changes or internal inefficiencies multiply, and before we know it we’re spinning out of control. Most businesses will just keep doing what they’re doing, hoping to do it better enough that they survive. Most don’t.

It happens in our relationships as well. We wake up one day and poof…who is that person we’re married to or in business with? Remind me again why we are friends? How did I end up hating my job? All too often we only notice that we’re in a death spiral once it’s too late.

What do we do about the dreaded death spiral?

1 – Learn to Recognize It
How do we know when we’re in a death spiral? It’s hard, but there are signs. Look for complacency or unjustified optimism. Look for silent arguments or issues swept under the table. If there’s an elephant in the room stinking up the place (trust me, both real and metaphorical elephants stink), and no one is saying anything about it, you are already there.

2 – Recovering from the Death Spiral
There is only one thing that can save you (beyond divine intervention or accident, and while I’d hope for the former, I wouldn’t expect the either). That one thing will depend on your exact situation and environment and can take many forms. The one thing is drastic and immediate change.

You have to stay calm and assess the situation. But you have to act, and act quickly. The longer you spiral out of control, the more difficult it will be to recover.

The status quo has got you where you are. Sticking to the same route will only get you killed (only figuratively, I hope).

Small changes may only mask the problem or give the illusion of recovery. You need to zig when everyone else zags.

John G. Miller tells a story in his book QBQ: The Question Behind the Question, about a father flying with his daughter. When the engine of their small plane cuts out, he smoothly tells her that something is wrong and he has to fly the plane differently. Had he continued flying as if he had an engine when he didn’t, he wouldn’t have been able to tell the story.

Drastic and immediate change in response to the circumstances, even if all you have is a Hail Mary pass.

3 – No Guarantees
By the time you realize you’re in a death spiral, it may be too late. I’m not saying that you shouldn’t try, but you should be realistic. Even if you do all the right things, you may not recover.

If I fall out of an airplane without a parachute, I’m going to do two things: pray and flap my arms. Flapping my arms is not a sign of lack of faith…it’s meeting God halfway. It may or may not help, but I’m going down fighting and I’ll have a great story to tell either in the hospital or in Heaven.

Can the Death Spiral Be Avoided?
Probably not always. But if you keep your eyes on where you are going and where you are, you’ll see when you get off course. Constant minor adjustments will keep you on the path. Fail to pay attention, and you veer off course. And pay full attention, and external forces can still knock you off course. In your life, career, business or marriage…be prepared and be alert.

What do you think?

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FPU Class Starts Sunday, Sept 27th

Category : Finances, Habits

If you watch the news or read the paper, you probably realize that the end of our financial world is upon us and nothing can save us except for stimulus packages and cash for clunkers. WRONG!

YOU are the biggest factor in your financial life. And if YOU are in a mess, YOU need to clean up your act. But you don’t have to do it alone.

Dave Ramsey’s Financial Peace University is just as relevant now as it’s ever been, and perhaps more depending on your financial/job situation.

Take this course and you’ll gain financial knowledge with the motivation and inspiration to develop new habits that will radically alter your future. It’s simple stuff really…but sometimes the simplest things are the hardest to actually do.

My next FPU class will start in just a few short weeks. Will you be there?

Click here to register for the class.

For more info on this class, download our brochure or contact me directly.

SPECIAL ANNOUNCEMENT: In the next day or so I’ll be posting an interview I’m conducting with a friend who was in a dire financial situation. We sat down several times and worked through the FPU principles…and the results have been incredible. You won’t want to miss it! Stay tuned!

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Financial Opposites Attract…Duh!

Category : Finances, Goals, Habits

Ran across an interesting article in the New York Times today called I Say Spend. You Say No. We’re in Love.

It seems that someone somewhere did a research study to find out that married couples have a tendency to be opposites when it comes to their spending habits. That means someone actually took the time and money to come to a conclusion we already know!

Seriously, money issues are the number one reason for divorce in the United States (and likely around the world). Some people are savers while others are spenders. Dave Ramsey divides people into nerds and free-spirits.

However you want to divide people into categories, the fact is that when you get married you have effectively entered into a three-legged race with your spouse. Work together and you can be fast. Work against each other and you’re going down!

So how do you get together on your money without having a big fight?

First, you both have to be adults about it. Realize that you are in it together and that you probably have more common ground than it feels like. Lay out your short term and long term financial goals. As the old G.I. Joe cartoon stated, “knowing is half the battle!”

Once you know your goals, you have to track and evaluate your spending habits. Having a budget or spending plan is essential. But even if you can’t get that far, you can start asking one simply little question and it will set you free: “Is this the wise thing to do?” (I totally stole that from sermon series by Andy Stanley, but I don’t think he’ll mind.)

  • Is it wise to buy a new car when we don’t have an emergency fund (or the cash to pay for the car!)?
  • Is it wise to send the kids to a private school that costs as much as college tuition, when we have perfectly good public schools in our area?
  • Is it wise to eat out as much as we do?
  • Is it wise to invest for our retirement when we have loads of credit card debt?
  • Is it wise to spend our emergency fund on a vacation to Hawaii?
  • Is it wise to buy a house with no money down?

You can see that even under these questions, some conflict may still exist. One more rule will get you through: If you can’t agree with it and have peace, don’t do it.

There can be no “I told you so” statements later on. You’re either both in or you don’t do it.

After all, the preacher (and the Bible) state that once you get married, “now you are one”.

Act like it!

Full disclosure here: Even my lovely wife and I don’t agree on everything! Gasp! I’m a huge nerd (king of the nerds in fact) and she’s a free-spirit (channeling Woodstock or something). It takes a lot of work and a lot of time, but it can be done.

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High Flying Habits

Category : Habits

I’m writing today from seat 18A on a Delta flight out of Reagan-National airport in Washington, DC. Fortunately, I’m heading home instead of leaving. It’s always a good feeling to go home.

I used to fly a lot—nearly every week for almost five years. In that time I learned about airport security (Sept 11, 2001 was five months after I began my travels) and the value of frequent flyer programs. I learned all of the tricks to getting good seats and which airports to use or avoid, how to get better rental cars and how to pick a good hotel. In five years of constant travel, I developed a series of habits that made the travel easier.

A little over three years ago, I stopped flying and got a job closer to home that allowed me to drive instead. It was a different routine and different habits developed.

Last year I flew only four times and had gone more than two years without getting on an airplane. This year is half over and I’ve only flown twice. I may have another trip or two pop up before the year is over, and I enjoy it.

Looking back on this trip, I can see that I easily recalled and applied the lessons learned from five years of weekly flying. It wasn’t as difficult to deal with a six hour delay and arriving at 1 am. I learned long ago that those things happen and you have to remain both flexible and patient (qualities I don’t naturally possess).

I guess my point is that I developed habits as a result of my routine. And even after several years, I could tap into that knowledge and instantly benefit. Life is the same way.

If you’ve slacked off on your workouts, it’s easier to get started again if you have had times in the past when you exercised consistently for a significant period of time. It’s much hard to get going if you’ve never done it before.

If you’ve never lived on a budget, doing so can be frustrating and constricting. It’s not fun. But just as you know that exercise is good for you and will make your muscles sore for a while, doing a budget is the right thing to do for your future and the financial stability of your family. It will be difficult and it will hurt. You’ll want to quit, and if you do you’ll lose the benefits.

However, if you do a budget for a while and push through the pain, you’ll learn to make it work. If it becomes a habit, deeply ingrained by your routine, you’ll be able to push through the difficult times (job losses, unexpected expenses, economic downturns, etc.). That future pain won’t be nearly as difficult if you prepare today.

So what are you going to start doing today—even if it’s difficult—in order to have a better or more productive tomorrow? What books will you read? What plans will you make? What habits will you develop? What goals will you set?

If you have questions, just post a comment or use the Ask James form. I’d be happy to help. Of course, I’ll have to wait for the plane to land first!