Notes from The Principle of the Path

1. Your Pathway and Destination2. Attention and Decision Making3. Emotion and Decision Making4. Today’s Decisions, Tomorrow’s Future5. Regret6. Execution

By Andy StanleyYou

1. YOUR PATHWAY AND DESTINATION

Good Question to Ask Yourself?

In light of my past experience, and my future hopes and dreams, what’s the wise thing to do?

So What! Good Intentions

True or FalseGood intentions, aspirations, and dreams are more important than the decisions we make.

Direction – Not Intention

True or FalseDirection (execution, good or bad)NOT IntentionDetermines our Destination.

Decisions and Destination

True or FalseEach decision is a step that will determine your destination.

Living Beyond Your Means

True or FalseLiving beyond your means is not just a financial decision; it leads somewhere. . . It is a path.

2. ATTENTION AND DECISION MAKING

Attention(The Beginning of the Pathway)

True or False

Attention determines direction, and direction determines your destination

So, pay attention to what you are paying attention to

What grabs your attention?

True or False: Usually there is a strong emotional appeal to the things that capture our attention.

True or False: Often the things that grab our attention lead to regret.

3. EMOTION AND DECISION MAKING

Emotion

True or False: Emotions cloud our ability to see things as they actually are.

True or False: Emotionally driven decision making rarely leads us down the right path.

Which are emotional charged decisions- often the first step of the pathway?

Accepting a job, moving, changing careers

Buying a new car

First kiss

Getting married

Having children

Getting divorced

Buying a home

Deciding to retire

4. TODAY’S DECISIONS TOMORROW’S FUTURE

Today and Tomorrow are Connected

True or FalsePrudent people look as far down the road as possible when making decisions.

Do People Live as If Today’s Decisions are Connected to Tomorrow’s Results?

Smoking Michael Vick and Aaron Hernandez Over spending– new car, clothing, chocolate Not saving or investing

We think we will beat the odds.

Difficulty of Knowing the Impact of Our Choices

True or False We make choices today and won’t know the effects of those choices for years or decades.

5. REGRET

True or False

Many individuals want to discuss their problems.

They do not have problems.

They chose the wrong path.

They need a new path.

Broken DreamsThere are no “do overs”

True or False

We cannot go back in time, reset the clock, and recapture those years.

Rearview Mirror

True or FalseIn the rearview mirror it becomes obvious that we are all following a path of some kind.

6. EXECUTION

Not the lack of understanding

True or False

The problem with making the right decision is not the lack of

understanding, but the lack of execution.

P. 82

Wisdom and Experience of Others

True or FalseYou will never reach your full potential without tapping into the wisdom of others.

Have I just wasted 200 minutes X 15 weeks-- Plus?

If you do not execute, should I take it personally?

Class Assignment

List 10 financial planning tips for a recent college graduate.