Friday, July 20, 2018

Expectation Management

In my post-work world, many of my colleagues are coaches and motivational speakers. Before that in my 'work world', a big chunk of my job was almost the opposite. Expectation Management. Warren Buffett talks about how the average investor would do much better by just accepting average returns. Average returns can be achieved at below average costs. The key ingredients are not chasing better returns, not panicking, patience, and delayed gratification. So, ironically, accepting average returns in advance will give you above average returns. In the world of money, I am increasingly becoming a believer in 'thinking inside the box'. Do what works. Find something that works (i.e. pays) that you can do well. Do that. Don't let that define you. Have a plan to build an engine so that you can be free of those constraints. In the post-work world, nothing is impossible. In the world of money, Mermaids and Unicorns can land you on the rocks.

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