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Showing posts from January, 2020

Rushing into New Beginnings

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Life is full of new beginnings. Even when one chapter ends, another begins. Often, new beginnings are so exciting that we tend to rush into them without taking time to reflect on the journey before.

Effective preparation involves two aspects: reflection and planning.
“Improving your future requires study of the past; we learn traveling through life and especially from mistakes that provide lessons we should not repeat.”
- Gandolfo (1983) At the end of every season, the best sports teams spend much time reflecting on the previous year. What went wrong? What did we do well? Where did we make mistakes? What could we have done better? After these questions have been asked, they can then plan ahead to improve on their performances the following season.

Similarly, successful businesses consolidate their previous year's financial statements before drawing up a budget for the following year. If they rushed ahead and planned their future budget before reflecting on the last year, they run …