Profligacy: The Unintended Consequence of A Mindset of Abundance.

 

Whatever you take to the extremes always comes with some disadvantages. A mindset of Abundance is one of the best things you can possess as an individual. It creates endless possibilities for the possessor. However, when it is taken to extremes, it could result in profligacy. Profligacy is just a big word that means wastefulness. It is a word that is used mostly with regard to strikers in football matches. When a striker keeps squandering chance after chance, we say he is profligate.

Profligate strikers cost their teams matches, crucial points and at the end of the day trophies. How would you feel like a coach when the striker you depend on misses chance after chance and shows little to no remorse or effort to get better at taking their chances? Before long, you will be tempted to find a more clinical striker.

I am a strong proponent of people not crying over spilt water but at the same time I want them working on ensuring that I future the water spills less often. Optimal utilization of chances and opportunities happens as you take steps to get better at making the best use of them. If you are responsible for taking freekicks in your football team for example, you want to perfect and vary your technique in such a way that you are getting better at it and also reducing the possibi9lity that your opponents will figure you out. You want to maintain a degree of uncertainty in their minds concerning where and how you will place the ball. As professional footballers will tell you, this doesn’t come by chance. It takes hours upon hours of practice to become good at it. Cristiano Ronaldo who is one of the most prolific goal scorers of the modern era was known to spend a lot of time perfecting his freekick technique at Manchester United. As a result he became very good at scoring them overtime. By the time he was leaving for Real Madrid, he was the undisputed Freekick taker of the team.

No one is 100% efficient

It is true that no one can get it right all the time. You only need to listen to Michael Jordan talking about how many shots he missed. We are talking about The G.O..A.T of basketball. Here is what he had to say. ‘I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. Twenty-six times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.’ We clearly see that he missed some pretty big chances in his career. Efficiency doesn’t mean that you won’t miss some. What it means is that every time you do, you check your performance with a view to doing better next time. That Thomas Edison got it wrong more than 10000 times with the light bulb doesn’t mean that he was mindlessly doing the same thing. Each failure took him closer to what he was working towards. Can you say the same about the chances you have squandered in the past?

All is not lost.

What makes a mindset of abundance a recipe for profligacy? I would like to emphasize that this mindset is a beautiful thing to have in spades. You do not want to be those who stare too long at a closed door while there are many other open doors ahead of you. Once you miss a freekick, penalty or big chance in life, a mindset of abundance comes in very handy in reminding you that there will be other opportunities to get it right. Those who get it wrong make one huge error. They do nothing to get better at taking their chances in the intervening period between one chance and the other. They fall for what Albert Einstein calls insanity-doing the same thing over and over again and expecting different results. Profligacy happens when you fail to grow from your failures of yesterday. It happens when you don’t take the time to reflect on what happened the last time you squandered your chance, opportunity or moment. The best thing you can do for yourself to be cushioned against profligacy, is to get used to the idea of looking back over what happened with a view to picking the lessons you need in order to move forward. When you do that, then future opportunities are less likely to go to waste.

How to guard against profligacy

Be mindful of your performance. If you want to improve your performance, it begins with opening your eyes and paying attention to how you have done in the past and in the last time you attempted something. Whether it is a product you are developing or a goal you are pursuing, mindfulness will go a long way. A mindful attitude will help you take note of details that would escape you otherwise. It will give you what to work on in order to improve your technique.

Once you are clear on what is ailing you and your ability to take your chances, it is time to employ what is known as deliberate practice. James Clear defines deliberate practice as a special type of practice that is purposeful, systematic and requires focused attention with the specific goal of improving performance. This is one of the greatest things you can do to get rid of or reduce profligacy. When you are clear on what is missing, you are better placed to work on getting it to work so that you are functioning optimally overtime.

Be open to mistakes but seek to grow from them. It is important to note that you will not move from wasteful to efficiency in one fell swoop. It will take many little adjustments to get there. The best thing you can do is to be comfortable making mistakes and learning from them every single time. You should be ruthless enough with yourself to not allow repetition of mistakes but open to making new mistakes at a higher level.

Leverage on the failures of others. More often than not, what you are doing or trying to do has been done by others in the past. There is nothing much that comes from constantly trying to reinvent the wheel. Just because experience is a good teacher, doesn’t mean that you have to learn from your own experience. The target should be to learn as much as you can from those who have gone ahead of you so that you are starting on higher ground.

Pay attention to feedback. It is said we tend to play better when we are keeping score. Evaluation of performance is critical whether by self or others. A coach will go a long way ion helping you get better if you allow them to. Who do you listen to concerning the area where you are trying to be more efficient? It will help you to improve your performance if you are listening to someone and acting on their feedback even if that someone is yourself.

In Hot Pursuit!!!

Qualitative and quantitative adjustments for goals.

The pursuit of significant goals constantly meets obstacles along the way. The temptation is strong to quit on your goals when this happens. However, those who quit will never get to see what life is like on the other side of their goals. There is need for people to find a way to forge ahead in the face of opposition. In this article we will have a look at some of the adjustments you can make to your pursuit to increase your chances of success.

When it becomes difficult to reach your goals, don’t fall quickly to the temptation to revise them. The more prudent approach is to revise your strategy. The wisdom of Einstein reminds us that insanity is to do the same thing over and over again and expect different results. Since we are clear that you are not insane, what are some of the adjustments you can make to your pursuit of your goals to help you get there faster.

I am making certain assumptions here. They are as follows. You have some goals you are pursuing. You have a strategy you are applying to help you get there.

Categories

I am looking at two broad categories of adjustments you can take and I will try to give examples in each case. Consider the case of James who is a salesperson in the financial services sector. When he started the year, he set himself an income target of Kes. 3 Million by the end of December 2021. So far he has only managed to raise 1 Million. Seeing as this is the second half of the year, he has a lot of work to do to catch up. In his strategy, he needed to see 5 people a day Monday to Friday to stand a chance of getting to his goal. James has been faithful in meeting five people for over ¾ of the time in which he has been pursuing this. His problem clearly is not in the numbers he was supposed to be racking up.

Grant Cardone in his book the 10X Rule proposes a relook at the effort we put into pursuing our goals. He opines that we often underestimate the effort needed to get us to our goals. If James was to follow Cardone’s advice, then his adjustment would need to be quantitative. He would want to try raising the number of daily appointments from 5 to 7. Whether that is practical depends on how long his meetings last and whether he has the numbers to increase the engagement. Looking at his closing ratio, it is possible that this forty percent increase in the number of people he is seeing would result in him getting as close as possible to his target by the end of the year.

Sometimes all you need is a quantitative adjustment. If increasing the quantity of your activity will get you closer to your goals, then by all means jump on board and engage more people, increase the number of hours you are at it or whatever numerical increase is represented by your activity.

James could also be having a qualitative challenge. The calibre of people he is meeting, how closely do they align with his ideal clients? For as long as they don’t qualify on a number of criteria, the battle is going to be tougher for James. His remedy will be to take a fresh look at the list of people he has been meeting to ensure that they meet the strict criteria of his ideal clients. Qualitative increase in his case means he sees more of the people who fit in with his profile and less of those who are off the mark. By applying these strict criteria, he might end up seeing fewer people but this will be the right people. Chances are high that he will close more lucrative business.

Another qualitative adjustment he can make is to improve his closing ratio by improving his closing skills. He should ask himself questions like, what can I do to increase my chances of closing more clients? Such adjustments will take him closer to reaching his goals.

Blended Approach

More often than not, we need both numerical and iterative adjustments to get us to where we need to go. What would happen to your results if you added an extra hour of activity every day? How would adjusting the number of attempts affect your outcome? If you are looking for a job and making applications, ask yourself what you will achieve if you increased the number you are sending every week. That would be a quantitative adjustment. A qualitative adjustment in your case would be refining your resume and cover letters and also filtering through the companies and positions you are applying to so that you focus on those that tally with your skills and cultural disposition. A combination of quantitative and qualitative adjustments well thought through and implemented is likely to get you to the other side of your goals faster.

Let’s experiment with one of your goals for this year. What is the goal? What strategy are you pursuing for its realization? What feedback are you getting from your action? What adjustments can you make to increase your chances of hitting the mark? Be sure to review regularly and lets see where you end up in December.

PS: One of the qualitative adjustments you can make is to get a coach to help you through the process of pursuing your goals. if you are looking for someone to walk with you in the pursuit of your goals feel free to reach out to me. Together we can achieve more. Email: asenasam@gmail.com