The Plan vs. Planning
February 1st 2017, by Timothy S. Tyson
The big game is almost here. For most of us in this area, the upcoming Super Bowl game will most likely be about the gathering of family and friends, enjoying some food, and anticipating the entertainment of the commercials. But what about the football game itself? Hopefully, it will be competitive and hold our interest. Although I am not a Falcons or Patriots fan, it is interesting to consider each team’s journey to the pinnacle of the NFL this season. Even more interesting is the consistency of the New England Patriots over the years. They always seem to be a contender. Very satisfying as a Patriot’s fan, but very frustrating for an opposing team or fan. As a result of Bill Belichick’s 17 years of leadership as head coach, the Patriots have had:
16 Winning seasons (the only losing season was his first season as head coach)
14 First place finishes in their division
1 Undefeated season during the regular season
7 Super Bowl appearances (4 wins, 2 losses, 1 to be determined)
Bill Belichick’s success as a coach is due in some part to his plan as he prepares for each game as most teams do, but even more importantly it’s the result of his willingness to make necessary adjustments to his plan during the game to increase the team’s chances of winning. He says:
“At some point you get as far as you can go…then you let the game unfold. No matter how much preparation you do, it’s still going to be different in the game…. I think you can only prepare to a point. Then once it starts, it’s going to change to some degree.”
The principle I come away with is that it is important to prepare for the future (Plan), but it is imperative to continually evaluate your plan and make necessary adjustments (Planning) to achieve your desired objective. For Bill Belichick that is winning football games. For us it is helping you make wise financial decisions as you pursue financial goals. Your financial plan is important, but the ongoing planning relationship is essential for the success of your plan.
An ongoing planning relationship with each client has always been deeply valued at Master’s, and we are continually refining the planning services we provide to you. We are thankful for each individual relationship we have with you and look forward to continuing to find more ways to bring value to you and your families. In the future you will continue to hear more from us about the development of our planning services and how they will be delivered to you.