FOCUS ON PROCESS, NOT OUTCOME

Focus on process, not outcome
by Tom Murcko

It seems like the best way to reach a desired result would be to focus on that result, try to move toward it, and judge each attempt by how closely you approximate it. But actually that approach is far from optimal. If you focus your attention and effort less on the results you’re hoping for and more on the processes and techniques you use, you will learn faster, become more successful, and be happier with the outcome.
By default we tend to be forward-looking, goal-pursuing, results-focused. Why? Because we’re wired for a discontentment with the present and a striving for a better future. Because results are easier to measure and evaluate than processes. Because we know others judge us based on results and we tend to care too much what others think.
But focusing on process rather than outcome is a much better strategy. Why?

• It eliminates the noise of external factors. Success can follow a flawed effort and failure can follow a flawless effort. In those cases, judging performance by outcome will reinforce the wrong techniques. You’ll achieve mastery of a new skill more quickly if you can learn to detect those cases and reinforce the correct processes whether or not they happened to lead to the desired outcome in that instance.
• It encourages experimentation. When you’re wholly focused on a specific desired result, you’re less willing to try long shots, less inclined to experiment, less open to serendipity, and less likely to stumble on an even better outcome than the one you were aiming for
• It lets you enjoy the process more. Life is lived in the present, not the future, and happiness is a process, not a place. Focusing on process will let you engage more deeply with the present and experience it more fully, which will help you learn faster and experience life more completely.
• It puts you in control. You have only partial control over whether you reach a specific external goal. But you have complete control over the process you use. Whether you give your best effort is entirely within your power. An internal locus of control leads to empowerment, higher self-esteem, and success, all of which contribute meaningfully to life satisfaction.
• It lets you enjoy and benefit more from whatever outcome does occur. In the long run things rarely turn out the way we expect them to. If your happiness is predicated on your success, and if your success is predicated on a specific outcome, you are setting yourself up for a high likelihood of frustration and disappointment. If you instead let go of the need for any particular outcome, you increase your chances for success and contentment. It’s fine to desire a certain outcome; just don’t make your happiness contigent on it. Instead, derive happiness from knowing that you gave every attempt your best effort.
• It will give you confidence. Not confidence that you’ll succeed in the current attempt, but confidence that you’re on the right path to mastery. You’ll worry less about the future because you’ll know that you’ll be happy regardless of the outcome of any given situation or event. You’ll be more free to get out of your comfort zone, to be spontaneous and take risks. And being unattached to a specific outcome means you won’t be needy, or get upset when things don’t go as you had hoped. The more you focus on process over outcome, the more confident you’ll become, and there’s nothing more attractive than confidence.

So how can you focus on process over outcome?

•  Don’t pursue the rewards directly, trust that they will come. Focus on the process with diligence and effortful study, and let the outcome take care of itself.
• Stop worrying about what others will think of your performance.
• View each attempt as merely practice for the next attempt.
• Choose for yourself how to rate your performance. Rate yourself based on the effort, not the outcome. Don’t try to win today, try to become a winner. Be happier when your best effort results in defeat than when a weak effort results in victory. Determine what your best effort would look like, and then make it happen.
• Bring awareness to your performance, either during or immediately after it, so you can learn to identify when bad results follow good processes, and vice-versa. With practice you will build the confidence needed to avoid second-guessing yourself when the results are bad but your technique is good.

Read more: http://www.howtolive.com/focus-on-process-not-outcome/#ixzz394qE7LT4

PLANNING FOR THE FUTURE

PLANNING YOUR ESTATE FOR THE BENEFIT OF CHILDREN OR MINORS

While becoming a parent is glorious, it is a life transforming experience that changes one’s perspective about life. You suddenly realize that you have a new purpose to fulfill in life.

Even though a number of parents desire a better and more secure future for their children, parents need to consider the possibility that they may not always be around for their children. Therefore as a parent or guardian, you should secure your child’s or ward’s future by having a proper, tailor-made Estate plan in place for them. The African extended family system which we used to support a bereaved child or minor is now mostly dysfunctional or non-existent.

Why Bother planning Your Estate For Your Children Or Other Minors?

It is natural as parents to simply assume that in the unlikely event that one of the couple becomes incapacitated, the spouse would automatically assume the responsibility to care for the children or alternatively that their extended family would step in and everything would be okay.

Though this may seem logical, chances are that this will not always be the case. What if the surviving partner decides to take another partner or re-marry? What if there is a child with special needs that a single parent may not be able to handle? You may also have special plans for your children that  your absence may jeopardize.

It is also obvious that the comfort or attention that a child would receive from a single parent would likely be less than he or she would receive when both parents are around. There is also the unlikely, but probable coincidence that both parents may die together. Diseases and accidents do happen.

What planning your Estate for your children involves

The first thing that often comes to mind with children is their education. You may want to take provision to ensure that your children’s education is well taken care of through an estate planning instrument you adopt.

However one must not forget that your child needs a good home to enjoy a proper education and fulfill his/her potential. It is therefore necessary that you provide for the person who would take over the custody of your children and also include an alternative guardian just to be on the safe side. Where both parents become incapacitated and have not appointed a guardian, it is up to a court to appoint one for you. This might not be an attractive option.

You may also have investments or assets that you want managed for the benefit of your children, wards or other minors. It is thus necessary that you provide in your Estate Plan for a person or entity who would manage those assets until your children reach the age of maturity.

You should also think twice about bequeathing your children with a lump sum when they come of age. Most young men for instance may not be capable of managing sudden millions rationally. You therefore have to provide a schedule of how those assets or investments are transferred absolutely to your children. According to Warren Buffet, you should leave “enough money to your kids so that they can do anything, but not enough so they can do nothing.

How to plan your Estate for your Children

There are multiple ways by which you can plan your Estate for your children. We will only discuss a few at this point.

A Will with provisions regarding your children is an obvious example. You could also provide a Trust with Funds that may be detailed to provide for your children’s education or certain special needs. Buying Life Insurance is certainly a good and cost effective way to fund your Estate or the Trust Fund that your create.  You might also want to consider purchasing assets jointly with a child (particularly when they are much older). This allows the illegal principle of survivorship to vest such assets in your children once you pass on.

Whatever choices you decide on, make sure you consult credible professionals when it comes to planning your Estate for children or minors. Do not take chances with your children’s future.