It's a theme I preach every day in my role at Northern Vessel, and it was the theme I spent all day engaging with yesterday at my client's office. Process always beats skill. No matter how talented we are, talent without process will ultimately succumb to those with process. This applies to all areas of life. It's easy to look at people like Michael Jordan and say, "Well, he had the talent!" Yes, he did.....but so did others. Jordan had the unique combination of elite talent and elite process. His processes and practices were as locked in and perfected as anyone else's in the sport. Thus, he became the greatest of all time.
The same goes for our money and businesses. It doesn't matter how good we think we are. If we don't have solid processes, we're toast. I've learned this the hard way far too many times.
In my coaching, I don't tell people what to do. Instead, I help them create processes that work for them, then teach them how to hone, perfect, and repeat them. That's the secret sauce. I don't have too many (if any) uniquely brilliant ideas. It's all about doing the small things very well, establishing rock-solid processes, and repeating over and over.
For example, one process I don't waver from is my insistence on spending only from my primary checking account. If I am going to spend any money on anything, that money must first run through my primary checking account. Why? Because it's the only way to ensure it's fully tracked and accounted for. Any other practice is a sure-fire way to circumvent the budget and the tracking mechanisms, which quickly erodes our excellence.
When I invest money, I only invest in a broad index fund. That's it. It's the only investment I've made in the past 15 years. Then, once I make the investment, I don't sell it... ever. The only time it will ever be sold is when I need to use it. No fear-based adjustments. No timing-based adjustments. No anything-based adjustments. The money boringly sits there, decade after decade, no changes. Stick to the process.
Everything I do with money, and everything I teach around money and business, revolves around establishing process. Process is everything. Today, my encouragement is to look at your money or your business and determine where you need to hone your process. Start small. Think simple. Lock in.
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