Taking Aim, Cannon Advantage Monthly Newsletter

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Volume 5, Issue 10 - October, 2006

• How to Decide Not to Decide
Recently, my wife and I went on vacation. We love the mountains of North Carolina and Tennessee. We also love a style of architecture called Parkitecture and there are examples through out this area. As with most of our vacations, we establish an objective but no strict itinerary. The objective for this trip was to scout out more of the area, investigate builders of new Parkitecture style homes and explore ownership possibilities. The idea was to see if it might make sense to purchase a property to be used as a vacation rental today and possible retirement home sometime in the future.

This was our first vacation away in over a year as last year has been devoted solely to working on our home.

It was exciting and we were more than eager for a break from the routine of our daily lives. We visited Asheville, Waynesville, Black Mountain, Blowing Rock, Boone and other communities. We visited developments with lot prices starting at $400,000 and we looked at existing fixer-uppers. We even sat down and talked with a rental property management company. In a way, it was frustrating and discouraging. It was frustrating because we really didn’t find anything that we could afford or that met our needs. It was also frustrating because there are so many other boomers doing the same thing that prices near the desirable communities are skyrocketing and yet properties just a few miles down the road look like you are walking on to the set of the movie Deliverance. Zoning doesn’t exist in this part of the country.

As the week progressed, I became discouraged because I didn’t feel like we were accomplishing anything and there was something inside of me that just didn’t feel right. Finally, it dawned on me that I was trying to force a decision that I shouldn’t be making.

Right now our focus needs to be on restoring the home we bought last year. Our search for a vacation rental was a distraction. It would take time, money and focus away from our primary objective of restoring our property to its optimum potential. Our vacation should have been less investigation and more R&R. Don’t get me wrong, we enjoyed ourselves and getting away was great, but some of the time we invested in the hunting endeavor could have been better spent. Fortunately, we didn’t make a decision and we learned some valuable lessons that I would like to share with you.

  1. There are endless possibilities in terms of ways to invest our time, our money and our effort. It certainly doesn’t hurt to keep our eyes and ears open to these opportunities because the more opportunities you have means the more options that are available to you. Without good options to choose from, it is impossible to make a good decision.

  2. We all need a strategic plan or direction that guides our activities and investments. In a partnership, it needs to be a mutually developed and agreed upon plan that meets the needs of all parties.

  3. All new investment possibilities need to be screened to insure that the opportunity supports the strategic direction of your life. Even though an opportunity looks interesting, if it doesn’t support the strategic direction, it must be discarded or at least postponed.

  4. Establish priorities and use those as a guide to where best to spend time, money and effort.

  5. Consider the long term consequences. Even if an opportunity looks good today, could it become a distraction later on?

  6. Talk over these issues with your partner or someone you trust. Try to uncover as many points of view as possible.

  7. If the opportunity still has some appeal, then work through the numbers to see if it makes economic sense, but only do this after you have reviewed steps 1 – 6.

Our journey to a decision stopped at step #6 only because I didn’t realize what was going on. If I had used this process at the time, I am certain that we would have decided not to decide earlier in the process.

Getting away was great. Seeing and exploring in the mountains is always enjoyable, but little did I know that I would learn something that would end up as an article. Prior to undertaking my study of decision-making, I never would have recognized what was going on in the back of my mind. My conclusion probably would have been the same, but I never really would have understood why. Fortunately, now I recognize and am able to reduce those previously invisible thoughts to writing. I hope you will consider this process as a way to save time and frustration in your life.


• Decision-Making Training
To learn more about how the Cannon Advantage Decision-Making Program can enhance the performance of your organization, contact Bob Cannon toll free at (866) 598-8450.

If you have a subject that you would like to see covered in future issues of “Taking Aim,” please send me an email at aim@CannonAdvantage.com.


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Bob Cannon, Principal, The Cannon Advantage

Robert E. Cannon
Management Consultant
13985 Aquilla Road
Burton, OH 44021 USA
866.598.8450 phone/v-mail
440.834.1052 facsimile

aim@cannonadvantage.com


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Smart Thoughts from Smart People

Flaming enthusiasm, backed by horse sense and persistence, is the quality that most frequently makes for success.

Dale Carnegie

The best thing about the future is that it comes one day at a time.

Abraham Lincoln

Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome.

Booker T. Washington

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Jose Addison


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