Every Season Starts At 0 Wins and 0 Losses

Data presented reflects past performance, which is no guarantee of future results. - Prospectus caveat.

Last year's performance does not necessary guarantee next year's performance. That's true for investments, sports, and life in general. I have played sports virtually all my life. I've played on championship teams and last place teams. The one constant is that each season is a new opportunity, because the score starts at 0 wins and 0 losses.

Here are some thoughts on how this concept applies to career, wealth building and personal finance:

Never rest on one's laurels. I love relishing success as much as the next person. It's great when the strategy, implementation or analysis is successful. However, I realize it not what one has done, but what one will potentially do that defines one's value to the company. Keep going after the next success.

Last years great results does not guarantee great results this year. What worked last year may not work this year. Competitors are always trying to beat the market leader. The market and environment are always changing. Recognize what's need to keep one's company in the lead.

Often sustained performance predicts future performance. Because it is hard to be successful, consistent success often is an indicator of future success. Examples are John Wooden for UCLA basketball, Tiger Woods in golf, George Soros in hedge funds, and Warren Buffet for stock investing.

However, one must also consider recent performance along with long term performance. Great examples of the issue are Wal-Mart and Dell. Throughout the nineties, Wal-Mart and Dell were the category killers. However, in recent years, their previously successful business models are now faltering.

To get better results often requires changes to be made. Better results often require something changing, whether that be doing something different or the marketplace changing. When one is losing or falling behind, change is needed. If one is winning and wants to keep winning, improvements are needed.

Net, each new day, week, month or year is a new opportunity, to make into a success or let become a failure. Carpe diem!

For more on Reflections and Musings , check back every Saturday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2007 Achievement Catalyst, LLC