Mapping a Path Through Executive Finances
Business Record Staff Oct 14, 2020 | 8:52 pm
2 min read time473 wordsBusiness Insights Blog, Finance
Marcus Iwig, CFP®, CPA, MAcc
I’ve recently been reading, “The 7 Habits of Highly Effective People,” by Stephen Covey. I know, I should have read the book before now. Now that being said, I’ve really enjoyed it and have been pleasantly surprised by its content.
In the book, I read about the difference between leadership and management. Covey says,
“You can quickly grasp the important difference between the two if you envision a group of producers cutting their way through the jungle with machetes. They’re the producers, the problem solvers. They’re cutting through the undergrowth, clearing it out.
The managers are behind them, sharpening their machetes, writing policy and procedure manuals, holding muscle development programs, bringing in improved technologies and setting up work schedules and compensation programs for machete wielders.
The leader is the one who climbs the tallest tree, surveys the entire situation, and yells, “Wrong jungle!”” (Covey, 2004)
In a strange way, this made me think of the way we serve executive clients and healthcare clients. Both are often extremely busy playing one or more roles described by Covey. But, when it comes to their own finances, they are often just wielding the machete, thrashing away at what’s in front of them, lacking the time and energy to sharpen the tool, let alone climb the tree to make sure they are still heading in the right direction or in the right jungle.
Our founder, Jerry Foster wrote in his book, “Lifefocus,” about Vector changes. These are small changes that, when applied over time, can create very different outcomes. Imagine a golfer who adjusts his or her angle at the tee by just a few inches. After the ball travels two to three hundred yards, those few inches likely made a big difference. We want to help you make positive vector changes and avoid negative ones.
Most business leaders we serve have visions for where they want to go. But most are so busy running their companies that they don’t have the time to adjust the tools they are using or double check if they are on track. At Foster Group, we work to capture the visions of our clients and their families, and then we create a roadmap to help them pursue those visions. We have the tools and expertise to help you through different seasons and challenges with new and different tools as you progress in your career. Having a plan to help pursue your vision, along with the expertise of our advisory team, can allow you to make the most of the tools you have and help ensure that your vision is getting closer each day.
PLEASE SEE IMPORTANT DISCLOSURE INFORMATION at www.fostergrp.com/disclosures. A copy of our written disclosure Brochure as set forth on Part 2A of Form ADV is available at www.adviserinfo.sec.gov.
| Marcus Iwig, CFP, CPA, MAcc