Trust the Process
Morgan Housel recently wrote a great piece about ‘staying put’. He outlined the value of consistency and staying in a place for a prolonged period of time.
It made me think of where we are currently. We are experiencing times described as the “Great Resignation” and millennials can be categorized as “job hoppers”.
It’s great that people recognize their value and are finding places that respect them and compensate them fairly. But when you are constantly bouncing around jobs, you are losing out on the opportunity of building momentum, lasting relationships, and networking.
As Housel stated, “great opportunities occasionally require annoyance and sacrifice.”
I constantly battle with the thoughts and feelings that maybe I’m not doing enough. Maybe things aren’t moving as fast as I would like, my financial situation is somewhat stagnant, or opportunities for growth aren’t appearing on a daily basis.
But it’s important not to chase and understand the value of trusting the process and staying consistent. When you are able to stay consistent, you start to build momentum.
We all should be striving to build momentum and developing a system that will get us to where we want to go.
The ability to stay consistent relates to all facets of life:
Health - finding ways to consistently improve your health is vital. Going for a 30-minute walk each day has incredible benefits. Now this is not going to make you look like a body builder, and your neighbor may even compare you to his 78 year old mother like mine did. But understanding why you are doing this and doing it consistently is what’s important.
Finances - Warren Buffet’s ability to stay in the markets for 80+ years has earned him the title of ‘greatest investor of all time’. But it’s not his annual returns that make him the best. It’s his ability to stay invested for such a prolonged period of time so he benefited from the power of compounding. His partner, Charlie Munger, put it best, “The first rule of compounding: never interrupt it unnecessarily.” As the chart below shows, Buffet has accumulated 90% of his wealth after he turned 65:
Safe to say he trusted the process.
Relationships/Career - trust is earned over time. When you start a new job or meet someone for the first time, that level of trust is not where it needs to be. People who are constantly moving from place to place can lose out on the ability to make life long friends. That ability to recognize patterns and take advantage of those. We can be amazed at how smart or efficient someone is at their job. Often times it’s because they have been doing it for so long and have pushed through adversity along the way.
When you are constantly stopping and starting - that kills momentum. I find myself doing this all the time. Getting excited or interested in a new idea or project, trying it for a few days or a few weeks, then it loses its luster and appeal to me and I move on.
But a wise person persists. It’s the idea of uninterrupted success over time that leads to growth.
Identify monotonous daily practices that cast a vote for the type of person you are looking to become. We are a product of our standards, our training, our character.
Remind yourself that each day is a chance to build momentum. Each day remind yourself that if you keep knocking, you will find open doors of opportunity.
Disclosure: This material is for general information only and is not intended to provide specific advice or recommendations for any individual.