Thinking ahead

Posted on August 14, 2007 - Filed Under Philosophy |

This last weekend, I found myself chatting with my mentor while reviewing the work that had been done on the house.  My original budget outline was present.  On the other side sat the invoices and receipts for the project as it stands today.

I was nervous.

Getting the project to it’s current state has been a challenge.  But trying to finish within the next few weeks weighed heavily on me.  Emergency funds have been made available.  After that, there is no more.

During my mental break-down, my mentor asked me "What do you think about your next project?"

My next project?  My current project isn’t even done!  And he’s asking me about what I am doing next year?

A list of everything I won’t be doing fell from my lips.  Then the conversation turned to what I will be doing.  Before I knew it, my current situation as not really that bad. 

In retrospect, the problem with being over budget and way behind schedule suddenly didn’t seem momentous.  As of today, there is nothing I can do about the past.  All I can do is manage the present and plan the future

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Comments

2 Responses to “Thinking ahead”

  1. Another Investor on August 14th, 2007 7:01 am

    The real estate market is rapidly changing and the economy is at a tipping point. Next year you will have opportunities and challenges that you cannot predict today. All you can do is stay on top of the changes as they happen and be as prepared as possible for whatever comes your way.

    You cannot go backwards, you can only manage the consequences and move on. You learn from this project and take that knowledge and the resources available to you on to the next project. The key is finding a project that is suitable for the economic, financial, and personal environment that exists at the point you are ready to start.

  2. Clifford on August 14th, 2007 10:05 pm

    AI, that’s exactly what my mentor was trying to get me to see.

    The only thing I can do from this point is control the project, manage it better.

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