Goals and Resolutions – 2018 Version

Every year around this time I sit down and work on my goals for the coming year.  Not New Year’s Resolutions per say but a handful of things that I plan to do on a regular basis over the course of the year to reach my major goals.

It’s a two-step process.

In accordance with the second of Steven Covey’s famous Seven Habits of Highly Effective People, I begin with the end in mind.   What are my major goals for 2018?

1 – Complete an Olympic Distance Triathlon

The Olympic Triathlon is the official distance run at the Olympic games and is approximately one quarter of an Iron Man.  It consists of a 1500 m swim, 40 km bike and 10 km run.  World class athletes can generally complete an Olympic Tri in about 2 hours.  The world record is 1:39:50, set at the World Championships in Cleveland Ohio in 1996.  That record has stood for over 20 years and is the stuff of legend in the Triathlon community.  I’ll be happy if I complete my Olympic Tri in under 4 hours.

2 – Finish my Third Book

My first two books came relatively easily to me.  I poured a lot of pent up energy into those books.  My third effort has been quite a bit harder.  I’ve been writing a book on Leadership for about 3 years now and it’s just not working.  Probably because I don’t really have a lot of experience in leadership.  I’m more the solopreneur type so writing about leadership seems a bit disingenuous.  I have several other books sketched out so I’m going to return to my favourite topic – behavioural economics, and work on something along those lines.  I’ve also started writing a memoir of sorts, maybe that could be something, we’ll see, keep an eye out here for more information as these projects grow.

3 – Develop the Financial Coaching Aspect of my Practice

The Meekonomics Project, (financial coaching) has been near and dear to my heart and my plans since the very beginning.  For the past six years I’ve focussed on building my financial practice along traditional lines, Life Insurance and Investments for the family market, Disability Insurance and Group Health Plans for businesses and business owners.  But that’s not where my heart is.  I have a passion for the poor, disadvantaged and victims of predatory lenders.  The Meekonomics Project is my assault on the PayDay Lending industry and stewardship planning for the working poor.

4 – Grow my practice to $85,000 in gross income

Two years ago, I made $74,000, and I thought I was on my way.  The next year I struggled to make $60,000 and this year I will make about $66,000.  These past two years have been hard.  I made a few mistakes, missed a few opportunities and got drawn off on some tangents.  To hit these goals, I need to remain focused and learn to filter out the noise that could pull me off track.

So those are the major goals.  But how are we going to get there?

Covey’s third habit is to put first things first.  In other words, work backwards from the end goal and figure out what to do next.  As a result, I have figured out five daily goals that are going to move me closer to the four major goals every single day.

1 – Go to the Gym for an hour at least 3 days a week  

There are several different triathlon training programs on line.  Most of them say that you can train for an Olympic Tri in about 10 weeks.  They all require at least six days a week in the gym, but I don’t have that kind of time.  I’m pretty sure I can modify a program to work over a 3 day cycle and be ready to complete the distance in about 20 weeks.  In fact, I’ve been working on this for a few months already and should be ready to complete the distance by April.  If I do, great, if not I will save eight months to work on it and hit the goal by the end of the year.  I’ll let you know how it goes.

2 – Spend 30 minutes in prayer and meditation every day

Now I know what you’re thinking.  Why isn’t this the number one priority?  If I was a good Christian boy nothing should take precedence over spending time in prayer, but hear me out.

This list is semi-chronological, and I have learned from experience that if I get up early and do anything other than get out he door and go the gym, it’s not going to happen.  Therefore, for the three days that I plan to go and train for the triathlon, nothing else happens until I can check that off the list.  That being said; my 30 minutes of prayer is the only thing that I am committing to doing every single day.  It keeps me grounded and on point for the rest of the day.

There is a lot more I could say about the importance of connecting with a higher power, however you define it, but I think maybe I’ll save that for another post.  For now, I’ll just say this, releasing my stresses and worries to the God of the universe while at the same time expressing my hopes and dreams and confessing my short comings is incredibly relaxing.   Starting my day in a state of peace and relaxation is the best way I’ve yet found to remain centered, balanced and calm.

3 – Reach out to 40 Individual Clients and Prospects each work day

Working backwards from my goal of making $85,000 this year I need to make approximately 2 new sales per week.  Decades of statistical research in the insurance and investment industry has proven that it takes 5 face-to-face appointments for every sale.  Many of those appointments are simple policy reviews and service calls that don’t necessarily lead to anything new and of those that do require additional services it usually takes 3 or 4 meetings to move someone from prospect to client.  That means I need at least 10 appointments a week.

The same research has show that it takes approximately 20 client “touches” to book an appointment.  Again, many of those touches are simple check in calls or emails that don’t necessarily lead to a meeting right away.  All of this to say that I need to reach out to 200 clients and prospects a week to book 10 appointments.  Broken down over the course of a 5-day workweek that amounts to 40 unique “touches” per day.

4 – Initiate 5 Cold Introductions to new Prospects each work day

This is the law of attrition.  If I’m reaching out to 40 individual clients and prospects each work day it stands to reason that a percentage of those prospects are going to be non-responsive or say they aren’t interested.  All that research about the number of sales and the number of meetings also says that a little better than 10% of your prospects will die on the vine.   So, to keep the numbers consistent I need to be reaching out to 5 new prospects every day.

5 – Write 500 words or film 2 minutes of video each work day

I’m a writer and writers write, ‘nuff said.

Not everything I write will be worth publishing and not every piece of video I record will make it out of my phone but like training for a triathlon the daily discipline will help to improve the final results and hopefully lead to a lot more content on my blog and another book.

500 words is approximately one typewritten page and takes less than 2 minutes to read, the perfect length for a blog post.  2 minute videos get more views than 20 minute videos.  It’s about accessibility, short sweet and too the point, that’s what a blog or vlog should be.  Save the longer thoughts and more detailed analysis for the books.

This combination of major goals and daily goals aren’t exactly New Years Resolutions.  They are more like an execution plan.  I do have a few resolutions tough.  These are simple tweaks to my personality designed to boost my productivity, social capital and emotional connections.

1 – Just Do It

Procrastination is the enemy of productivity.  If a job takes less than 5 minutes to complete it should be completed immediately.  If it takes less than 15 minutes to complete it should be completed by the end of the day.  If it takes more than 15 minutes to complete make an appointment to work on it before the end of the week.

2 – Smile   

Happy people are proven to be more successful people, especially in sales and customer centric industries like financial services.  Even if you don’t feel happy, smiling has been proven to trick your brain into thinking you are happier and so becomes a self-fulfilling prophecy. Smiling puts people at ease and increases your credibility so that they like you more.

3 – Say Yes as much as possible

Defaulting to yes, even when it’s a yes, but or a yes, and is far better than saying no.  In difficult situations, starting with yes makes you appear as though you are a problem solver even when the eventual outcome is not what was originally desired.  Saying yes is collaborative, while no is confrontational.

So, there you have it.  My goals and resolutions for 2018.  What do you think? Do you have goals or resolutions?  I’d love to hear them, please comment back.


The Day I Realize, I’m Dumb!

We left off last time talking about the 5 Whys process for turning failure into success.  As we get close to the end of the year I’ve started using the 5 Whys to analyze my past successes and failures and make plans for 2018.

I’ve come to an uncomfortable conclusion.

When I look at some of my biggest failures from this past year.  The lost deals, the solid prospects that the just didn’t convert, the opportunities that withered on the vine and the clients that just outright left, the answer to the 5th why is a variation of the same thing.

“I was dumb!”

That sounds trite, but it’s accurate.

More to the point, I was Emotionally Unintelligent.

In every instance of failure that I analyzed I came to the same conclusion.  I one way or another I was out of sync with my client or prospect and failed to recognize what truly mattered to them.  I made the sales process all about product and forgot about the client’s underlying emotional needs.  And what’s worse, as the prospect pulled away I made their failure to move forward all about me and my failure to communicate the benefits of the product.  As deals started to spin away from me I doubled down on a strategy that wasn’t working and further alienated the prospect.

Emotional Intelligence has been defined by Dr. Travis Bradberry, author of the best selling “Emotional Intelligence 2.0” as,

your ability to recognize and understand emotions in yourself and others, and your ability to use this awareness to manage your behavior and relationships.

The chart to the right is a typical four quadrant diagram that is popular with psychologists in analyzing behavior.  In this diagram we see the four core skills of Self-Awareness, Self-Management, Social Awareness and Relationship Management aligned with perception; what I see and reaction; what I do.  These skills are further aligned with personal and social competency.

In my failures I tend to be severely lacking in the perception side of the diagram, I don’t see how people are reacting to what I am doing and therefore am unable to adjust my behavior in a way that makes people comfortable moving forward in relationship with me.  If I were to place myself as a dot on the diagram I would be in the top right corner, very strong in Self-Management, I work hard and am disciplined.  I’m very task oriented, my mantra could be that the best kind of To-Do List is a Done List.  But I am extremely lacking in Social Awareness.   In my desire to get things done I tend to push people aside.

My greatest failure of 2017 was with a fast-growing company that I had the opportunity to work with on setting up a Group Benefits program.  I am met with the prospect and immediately hit it off with one of the co-owners.  We were having a great time, talking about business, telling jokes and swapping stories about our past business successes and failures.

Everything was going great.

Then my prospect took me into his partner’s office to say hello.  His partner was in another meeting, but we interrupted because we thought what we had was more important.  To be fair – I didn’t interrupt the meeting, my prospect did and that’s not what I believe caused the problem.

I was introduced around the room as “The Group Benefits Guy”, and while there were other people in the room I immediately forgot their names and laser focused my attention on the business partner.  Looking back at it now I realize that in that moment I went from the fun-loving Group Benefits Guy who was going to help this company move it’s HR process to the next level to that jerky salesman who only cares about people who are in a position of power.  It took a few more weeks but I truly believe that the opportunity was lost in that moment.

A few weeks later the prospect told me that they were pretty much ready to go with the Group Benefits plan, all we had to do was confirm with the partner.  I never heard from the company again.  My follow up messages went unanswered and within a few more months I found out that they had signed up with a competitor.

In doing my 5 Why’s analysis of that failure I concluded that at the critical moment, when I needed to show that I was in tune with the culture of the organization and took their people’s best interests seriously, I failed.  I was emotionally dumb.  To this day I still don’t remember the names of the other people in the room.  For a time, I even forgot the partner’s name and just referred to him in an email as “your partner”.

Why am telling you all this?

Studies have shown that people of average intelligence out-perform those with higher intelligence nearly 70% of the time.  The difference isn’t in classic measures of intelligence.  It’s in how we interact with each other.  Top performers have a higher emotional intelligence and can align their Personal Competencies with their Social Competencies and their perception with their actions.  The closer to the center of that four quadrant diagram you can hang out, the more successful you will be.

I’m not big on New Year’s Resolutions.  I prefer to make course corrections as I become aware of a need and this one is huge.  If I were to make a New Year’s Resolution for 2018 it would be this – To become more Emotionally Intelligent, get better at truly seeing people and working to aligning my actions with their needs.

VLOG: Episode 6, The Heart of An Entrepreneur

Driving in to the office the other day I started thinking about what it takes to be an entrepreneur and how much mad respect I have for entrepreneurs and what they do.  Here’s the video I recorded about it.

Once again sorry about the audio, I need to both speak up and get a better microphone  I think.  And for some reason I thought sitting in front of a window on a sunny day would be a good idea, won’t make that mistake again, I promise.

I’ll get these technical issues figured about eventually, bear with me okay…  For now enjoy the video.

It’s Not About You

The following is an excerpt from my newest book length project.  The working title of this new book is “LeaderSheep; Leading from a posture of submission in Business, Ministry and the Kingdom of Heaven” and is tentatively scheduled for release in early 2018.

Follow my example, as I follow the example of Christ. – 1 Corinthians 11:1

Few books of the last quarter century have been more influential in Christian circles than Pastor Rick Warren’s,  “The Purpose Driven Life”.  In 2007 Publisher’s Weekly declared Warren’s magnum opus of Christian living the “best selling non-fiction hardcover book of all time.”  In just 5 years it had sold over 30 million copies and become the second most translated book in history behind The Bible itself.  In recognition of the influence he had had on a generation of Christ-followers  Warren was asked to pray for the nation at the inauguration of President Barak Obama in 2008.

The Purpose Driven Life was originally published at a time when America, and indeed the entire world, was reeling from the first act of war committed on her soil since the Japanese bombed Pearl Harbor.  The terrorist attacks on The World Trade Center and The Pentagon on September 11, 2001 shook America’s confidence to its core and sent people searching for answers to life’s biggest questions.  The sub-title of the book “What on Earth am I here for?” spoke to those people in a deeply profound way and helped to drive sales of The Purpose Driven Life to stratospheric heights.

But if anyone thought that The Purpose Driven Life was going to give them a feel good, step by step motivational message about how to get back on track through some inward journey of meditation and search for meaning they wouldn’t have gotten off the first page.  For those looking for that type of self-centered motivation the book opens with a punch to the gut that Warren delivers in a signature style reminiscent of an iron fist in a velvet glove.

The first four words of The Purpose Drive Life are “It’s not about you!”   

I can’t think of a better way to start talking about LeaderSheep than by setting the expectation, direction and tone of this work with a reminder that the purpose of leadership is not self-promotion.  It’s quite simply not about you!

In order to be LeaderSheep we must first recognize that we are not leading for personal gain or personal reasons.  Sheepish leaders have a clear sense of purpose, that much is true, but first and foremost they know that their purpose has actually nothing to do with them and everything to do with the flock.  If you are going to be a sheepish leader the first thing you need to do is find the purpose of the thing you are leading, be it an organization, a division or a product launch.

For more on finding purpose or to follow my progress I write this new book contact me at themeekonomicsproject@gmail.com or by calling 613-295-4141.  As always I crave your feedback, questions and comments are always welcome…

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.





You’re doing it wrong!

Living Life and Growing Your Business on Your Terms

Have you ever received unsolicited advice?

You know the kind I’m talking about. One of your “friends” takes it upon themselves to tell you how you’re screwing up your life. And if you would just make one or two “minor” changes you would be so much better off.

This advice is usually sincere. Your friends are probably genuinely worried about you. When they look at your life they likely see the struggles you go through, how hard you work for seemingly little return, the heartache, the sleepless nights, you name it. Your friends see all the stress and they are genuinely worried about you.

If you’d just give up on your dream and take a job with a steady paycheque. Or maybe just slow it down a bit and relegate your business aspirations to weekends and evenings, maybe you’d be better off. You’d have more money, less stress and live longer.

Or so they think.

But make no mistake it’s never really about you.

It’s about how they feel when they are around you. Maybe they feel sorry for you – but that’s not about you, it’s about them. Maybe they feel guilty for their own success in the face of your seeming failure – but that’s not about you either, it’s still all about them. And maybe they feel envy and jealousy because they see the huge potential for your success and wish they had what it takes to be an entrepreneur. But you guessed it, that’s not about you either.

The fact is, no one can give you advice on what you need to do to be successful. Sure there are some general principles but they are ultimately the same whether you work for a boss or not. At the end of the day nobody knows better than you what it will take for you to be successful. Nobody knows your business better than you. Nobody works harder than you. Nobody cares more than you.

So stop listening to everyone else. That’s what you’re doing wrong.

Entrepreneurship is lonely. And for the most part the pay sucks. Work your ass off for 5, maybe 10 years or even more and maybe, just maybe you’ll become so successful you’ll forget about the years of struggle that led up it.

Maybe not.

You have to be prepared to live like no one else, so that later you can live like no one else.

That’s my best unsolicited advice.  Take it or leave it.

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.




How to focus on the choices that matter the most…

Each and every one of us makes countless decisions every day. Some don’t matter much, like what to wear or what to eat for lunch. Others carry a little more weight. Last week I talked about the general weight of decisions in our lives, go back an re-read it here [Cast Your Burdens].  This week I want to focus a bit more on the specific and unique decision making needs of business owners. Business owners make decisions about how to manage cash flow, how to protect the company (with insurance mostly), and which benefits plan to choose so that they can attract and retain the best employees.

Have you ever found it difficult making important decisions? You’re not alone.

As I talked about last week, researchers have found that we only have limited decision-making power. So called, “decision fatigue” effects us all as the day progresses. Check out this article from the New York Times to back me up. As the day rolls along and the number of decisions we need to make pile up, our brains get tired and start to look for an easier way out. That can mean delaying decisions, paralysis by analysis or it could lead to reckless decisions made primarily just to get it over with so that we can move on.

One option some entrepreneurs have found to help manage decision fatigue is to eliminate, or create a habit around certain choices. I’m currently reading Charles Duhigg’s 2012 book “The Power of Habit”. At one point in the book he talks about what he calls the Keystone Habits that can shape entire organizations and remove a cumbersome layer of decision making, streamlining processes and leading to increased efficiencies and ultimately higher profits. Case in point, two of the world’s most successful entrepreneurs simplified some of their decisions by wearing the same clothing every day: Steve Jobs was famous for his black turtlenecks, and Mark Zuckerberg favours grey T-shirts. I have even taken on a modification of this habit myself, I line up my pants and shirts in my closet on laundry day and simply put on whatever is at the front of the line every morning. Granted, not quite a streamlined as wearing the same thing every day but it is one less decision I need to make in the morning, freeing my mind up for more important things later.

Another idea is to devote more time to important decisions earlier in the day, that way you are fresh and can devote better energy to things before the relentless piling on of minor choices makes it harder to concentrate and make the best decisions. Consider scheduling an hour or so every morning to contemplate some of the bigger choices you need to make that day.

It’s important to start by identifying which of your regular decisions are most important. Most business owners agree that decisions related to cash flow management are the highest on their list of priorities. A recent survey showed that over half (59 per cent) of small business owners were concerned about cash flow with 20 per cent saying they are seriously concerned. This would seem to point to the fact that they are likely to get the most outside advice in this area but over a third of them (38 per cent) said they were dealing with their cash flow issues alone, without any help from an external advisor.  Know to be clear, I am not an accountant but one of the biggest advantages that I can bring to the table for my clients is help with decision-making around cash flow management. For example, I can help put together an optimal mix of bank accounts, lines of credit and investments to maximize returns mitigate risks and cushion your business from cash flow crunches.

And speaking of risk, another important area is risk management. Having a clear risk management goal like, building a diversified customer base or multiple revenue streams helps you make better business planning decisions and move the business forward. But keep in mind that when it comes to insurance, any delays in decision-making actually increase your exposure. Business owners must make it a top priority to finalize insurance policies as soon as they are financially able. This includes all forms of general liability and business interruption insurance to critical illness, disability and key person insurance for the owners and employees.

Lastly, there’s another area of risk management decision-making that most business owners forget about until it’s too late. If you have employees, you know how much your business relies on the productivity and loyalty of all of your people. And you’re probably also aware of how much turnover can cost. That’s why it’s so surprising to me that according to the research cited above just 17 per cent of business owners consider group benefits including health and retirement savings plans when building a risk management strategy. Even a simple, entry-level benefits plan for as few as 2 or 3 people can do wonders for moral and help to retain and attract better employees.

Postponing important financial decisions may mean missing out on opportunities to grow, develop and protect your business. So if you’ve been mulling without deciding, consider what you need to move forward. Are you considering all of the options? Do you have enough information to make an informed choice? Can a financial advisor offer any input? What other barriers are standing in the way?

Small business owners are busy people, I get that. Anything that can help streamline your decision-making process and make it more efficient is of great value. I am here to help. I can provide clarity and give you a big-picture perspective on decisions that benefit you, your company and your employees in both the short and long term. Contact me any time.

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.



Cast Your Burdens

Life is heavier than the weight of all things – Rainer Maria Rilke

I’ve recently become aware of the sheer weight of life.

I’m not just talking about the mental “weightiness” of our lives or the existential weight of the decisions we make on a daily basis. I’m talking also about the basic physical weights and measures of the things we possess and the life that we carry with us wherever we go.

Some statistics:

  • The average North American home has tripled in size in the last 50 years while the number of people living in those homes, the average family size, has gotten smaller.

  • 1 in 4 of those homes doesn’t have enough room in their garage to park a car while 1 in 10 rents extra off-site storage.

  • Over the course of our lifetime we will spend a total of 153 days (or 3,672 hours) looking for misplaced items.

All of this “stuff” is quite literally weighing us down but that’s not all – Psychologists have identified a relatively new pathology known as decision fatigue.

Decision fatigue refers to the deteriorating quality of the decisions we make the more we make them. It is now understood to be one of the main causes of irrational decision making. Judges and other professional decision makers have been shown to make less favorable decisions later in the day than they do early in the day. If you want to win in court, try to make sure your case is on the docket in the morning.

Decision fatigue also leads to poor choices in our personal lives, such as how we spend our money and our time. There is also a paradox inherent in decision fatigue in that people who lack choice seem to want it more while at the same time find that making too many choices can be psychologically draining.

Lastly, research is beginning to show that the single biggest factor causing decision fatigue is not the importance or consequences of the decisions being made but their sheer volume. Deciding what to wear in the morning or what to eat for breakfast contributes just as much to our daily decision fatigue as determining the case of a plaintiff in a multimillion dollar civil complaint. A decision is a decision and fatigue is fatigue.

Ask anyone what they truly want out of life and the answer will more often than not boil down to some form of peace and happiness. Still more research is beginning to show that people who report being the most peaceful and happy with their lives also seem to be the ones who are forced to make the fewest decisions throughout the day. And the decisions they do make whether in their personal or professional lives tend to be of higher quality.

I was recently challenged by a friend and spiritual mentor to embrace some of the tenants of minimalism. At the same time I’ve been reading David Allen’s definitive work on time management and productivity “Getting Things Done”. Both seek to reduce stress and increase enjoyment and productivity by reducing the weight of things in our lives and streamlining decision making.

It seems counter intuitive but by reducing the number of choices we are faced with we actually open up our minds to new possibilities and new ideas and lighten the burden of some of the bigger and more consequential decisions we are faced with. Albert Einstein, one of the greatest thinkers of modern history was known to have 7 copies of the exact same set of clothing, one for each day of the week, and ate the exact same meal for breakfast and lunch every single day. That’s three fewer decisions he had to make than most other people which helped to open his mind for weightier things.

In my work as a financial advisor I see the other side of the coin every day. Lives built on a house of cards of debt, and stress. People are running faster and faster just to remain in one place. We have been sold a lie that the key to happiness is the acquisition of more. And that the truly happy and “together” people are also able to do more with their time. Carrying last year’s model smart-phone is considered a sign of poverty in some circles and simply stopping to relax with your family, without a program or agenda to follow, is somehow seen as sloth or a waste of precious time.

The truth is we need down time in order to maintain our sanity.  There is nothing wrong with staying in and doing nothing, just like there is nothing wrong with carrying and using a still functional smart-phone.

Minimalism and the type of streamlining decision making advocated by authors and consultants like Allen, are not a panacea for all that ails us. But they can be a first step in determining what truly matters, making better decisions and living a more peaceful and fulfilling life.

It’s time to lighten our lives, worry less and live more.

Lauren C. Sheil is a serial entrepreneur who has been in business for over 25 years. He has operated a small farm, a recording studio and a music manufacturing plant, and has written 3 books on Economics, Ethics and Spirituality.  He has presented his ideas to business owners and leaders from all over the world. His latest book “Meekoethics: What Happens When Life Gets Messy and the Rules Aren’t Enough” is available on Amazon.com.

Mr. Sheil is currently a Financial Security Advisor and Business Planning Specialist with one of Canada’s premier financial planning organizations.  He brings to his work a passion for people and a desire to teach everyone to live life to the fullest while Eliminating Debt, Building Wealth and Leaving a Legacy.  

He can be reached at themeekonomicsproject@gmail.com or by calling 613-295-4141.