Analysis Paralysis

From The Desk of:
Rich Hayden
Financial Coach
Alexandria, Virginia
703.773.8409 (p) rahaydenjr@yahoo.com
Yahoo Video: http://tiny.cc/yv *Updated Jan. 17, 2008
Website: www.richgetsitdone.com
*I can help you become 100% DEBT FREE in as little as 8-10 years...
...INCLUDING YOUR MORTGAGE! Call 1.888.267.0280 ext. 8600 for your FREE REPORT

I DON'T GET IT: I have to admit that I am constantly amazed at the way that people go through decision making processes related to something in their life that is causing pain and disruption. Since I've dedicated myself to helping people understand the correct use and rapid elimination of debt instruments like mortgages, credit cards, car loans and personal loans - I see this trait nearly every day from people in regard to their money...or lack of it.


Let me give you a concrete example. I have a client with whom I have been working for nearly 6 months in reviewing his family's financial anatomy. I've come up with SPECIFIC PLANS that address all of his expressed concerns about the direction of his financial life. I've addressed ways that we can improve his monthly cashflow by more than $1,000/month. I've addressed ways that we can assure his children have fully funded college educations within the next 24 months. I've addressed ways that he and his wife can have a fully funded retirement within 12 years. Finally, I've addressed how his home can be completely paid off within 13 years. Basically, I've laid out for him exactly HOW SIMPLE it will be for him to become financially independent with no change to his lifestyle. Sounds good, huh?


He's a super-smart guy. Brilliant in his chosen field. Able to recognize right from wrong and able to identify opportunity when it presents itself. So why has it taken us 6 months to get to this point and still not having taken action on this plan? That's a great question. He's an "analysis guy" who likes to review numbers. But, he's also gotten himself into what I call a "thought rut". That's a place you come to when all you can do is "think" about something because the issue at hand is a big hairy monster. What's a big hairy monster for him @ this point is that he's caught CONTINUALLY analyzing WHY he's in the spot he's in rather than HOW to improve the situation.


ANALYSIS PARALYSIS: 13 years ago, when I was a consultant for American Management Systems, Inc. (AMS) - we called this "Analysis Paralysis". It's a term I'm sure you're all familiar with. People become paralyzed and find themselves unable to make common sense decisions because the EMOTIONAL OWNERSHIP OF THEIR COMFORT ZONE tied to a that which should be a NON-EMOTIONAL decision gets in the way. So, rather than take clearly defined choices toward a better path, 90% of people continue down the path they've been on crippled by fear of something different that may cause a slight change in outlook.


Taking this back, again, to people's individual finances: Have a look @ my video blog entitled "Keep Doing What You're Doing and You Will Keep Getting What You Are Getting" from October of 2007 (http://video.yahoo.com/video/play?vid=1345601. In it I talk about how we were all taught about finances....for the most part by our parents. If that is the only foundation we have to work from for knowledge, then we will get the same results that our parents earned. Now, don't get me wrong - I'm not devaluing that which we learned from our parents. What I am suggesting is pretty simple. To learn success in any endeavor, you must model the systems, people and things that have shown the type of success that you want to achieve...and let go of your preconceived notions about HOW to do it. After all, if you already KNOW how to do it -WHY haven't you? This is akin to Einstein's definition of insanity: Doing the same thing over and over and over again and expecting different results. If you've got the money game figured out so well by doing what you're doing again and again...then why are you still reading this blog? I don't mean to be rude, but, I think we both know the answer. You're seeking answers.


EMBARRASSED INTO INACTION: In the last 6 days, I've had 13 client appointments where we've talked about debt. All 13 sought my counsel for varying reasons and through varying mediums. 10 out of 13, after we started uncovering their goals and how we were going to "get there" shared with me that they had not sought help sooner because they were so embarrassed that they were in the situation that they were in that they just couldn't talk to anyone they knew about it because they felt like they had failed. And, rather than make changes to "right the ship", they continued down the path they were on, going deeper and deeper because of the perception they had about what "other people" might think if they sought help. They felt as though they were the only one's to have made financial mis-steps. They look around and see what other people HAVE and what they're DOING. My response is consistent WHENEVER I hear this - GIVE YOURSELF A BREAK...NO ONE TOLD YOU HOW THIS STUFF REALLY WORKS...GET BACK UP OFF THE GROUND, DUST YOURSELF OFF AND LET'S DIG IN A BIT. In my experience, trying to measure yourself against others will only in the rarest of cases leave you in a good spot. Most of the time, it puts you deeper in the whole. The other thing is that you have NO IDEA what other people's finances are. Chances are pretty good they're about the same as yours. The only way to REALLY eliminate debt is to:


1. UNCOVER IT COMPLETELY TO UNDERSTAND HOW MUCH DEBT THERE IS.
2. HAVE AN APPETITE (A BURNING DESIRE) TO ELIMINATE IT
3. ASK FOR HELP WHEN YOU NEED IT.
4. TAKE ACTION
5. NOTICE WHAT'S WORKING AND WHAT'S NOT.
6. DO MORE OF THE THINGS THAT WORK AND LESS OF THE THINGS THAT DON'T.


Simple, isn't it? Sorry to sound so simplistic. But, all of life's challenges really come down to this. Don't you already know that? My guess is that you do. You're smart enough to still be reading to this point - which tells me that you're motivated to learn, motivated to change, motivated to be in charge of your financial fate rather than a victim of it. When my client's told me that they were embarrassed - I asked them if they went "looking" for the financial situation they were in? ALL OF THEM RESPONDED WITH AN EMPHATIC "NO!" You've heard it 1,000,000 times - people don't plan to fail, they fail to plan.


Which brings us to YOU. What are you doing? Are you planning for financial success? Do you have a coach? No great athlete became great without a coach. No great business person became great without a mentor. If you're ready to win, I'm ready to be your coach on your road to financial freedom.


Give me a call @ 703.773.8409 to get started building your financial independence. Or, for a copy of my FREE REPORT: "How To Literally Melt Down Your Debt, And Discover What the Banks and Big Credit Card Companies DON'T Want You To Know" - call 1-888-267-0280 x 8600 and I'll get it out to you in the mail.

Your Friend,

Rich Hayden
Financial Coach
rahaydenjr@yahoo.com
703.773.8409 - p

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