Archive for December, 2009

Scroogenomics

The BBC World Service interviewed Joel Waldfogel today on its Newshour program. His latest book is Scroogenomics: Why You Shouldn’t Buy Presents for the Holidays.

Waldfogel notes the following:

On average, people value the items they receive as gifts 20% less per [British] pound spent than the items they purchase for themselves.

While I am a HUGE fan of gifts, the research apparently bears out that there is an experience of increased value when we get what we truly want when we are the ones paying a price for it.

It reminds me of the British poet, William Ernest Henley, who wrote in his famous poem, Invictus:

I am the master of my fate:

I am the captain of my soul

To be so responsible for getting what we want is costly, yes.  And while I’d argue that in the personal realm, the ROI is actually much higher, being responsible for your life will likely mean you’ll value your experience, goals and fate with a minimum of a 20% increase. Now isn’t that a good reason to be a Scrooge!

Barking up the Wrong Tree

I was scheduled to be giving a very significant presentation at the ICF Annual Conference Global Leadership Forum tomorrow.  The largest and most influential association for coaches, the International Coach Federation accredits coach training institutions and certifies coaches. I am a member, I currently serve on the executive board of its Philadelphia chapter and I also lead a small interest group on their behalf for 20- and 30-something coaches.

Back in June, I accepted the invitation to speak at this significant gathering of many of the head honchos in my profession. It’s a good gig. Noteworthy. Impressive, even. Validating.

As time went on and more details were solidified, I came to several realizations, the most important of which was that delivering this presentation wasn’t purposeful for me. Sparing the details, I began to see how this presentation would equivocate barking up the wrong tree.  I made the hard decision to renig on this sweet deal (read: ego likes noteworthy, impressive, validating activities).

Wrong Way, Go Back

Many of my clients come to me barking up the wrong tree. Sometimes they know it and want help finding the right tree. Other times they insist the wrong tree is the right tree. If you think you might be barking up the wrong tree, spend time with the following:

  1. When I imagine following through on this, I feel ________.
  2. When I imagine letting go of this, I feel _______.
  3. The cost of letting go of this is _______.
  4. The benefit of letting go of this is _______.
  5. This is/isn’t purposeful for me because _______.

The process of exploring this speaking opportunity got me in touch with some ideas and dreams I had set aside. It awakened me to more purposeful activity that is already proving generative and exciting. And while saying no may cost me some leverage and recognition within the coaching community, I am certain the cost of following through would have been higher.

Most of us take some inventory of the past year in December and begin envisioning the next one. As you do so, I invite you to consider that any changes you want to make must be purposeful in order to be truly sustainable. Are you ready to begin barking up the right trees?

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