Monday, September 29, 2008

Monday Morning Muses - Sept 29, 2008 - On Education and Development

As the son of a university professor I grew up with a strong emphasis on education. My wife Sandy and I raise our 4 daughters to place a significant value on education.

It strikes me as ironic that until our early 20's we spend a significant amount of time educating ourselves to get ready for the real world but when we graduate college that level of investment drops like a rock. Be honest with yourself, "How much time are you spending on professional development?". Did the world all of a sudden stop changing and everything you needed to know you learned by your early twenties?

Now for a little math...Let's say Tom has $25,000 car. In any given year Tom might invest (between fuel, insurance, and other maintenance items) - $2,000 - $3,000 dollars. Tom earns $50,000/year. On a hourly basis that equates to $25/hour. Tom spends 40 hours a year in professional development activities. Those activities equate to a $1000 time investment that helps to maintain (and maybe grow) his ability to earn $50,000. I would venture to say that a lot of people don't invest 40 hours a year in professional activities.
Tom is investing more in his car than himself and his fundamental ability to earn that $50,000/year that pays for the car...mmmmm - makes you think

The point of the analogy is that a lot of us invest more in things (cars,furniture, toys,electronics, etc.) than we invest in ourselves and our ability to maintain/grow one of our most precious assets - our minds.   


Questions to ponder:

  • How much are you investing in growing your mind? 
  • What are the implications of that investment strategy? 
  • What example are you setting for your kids?
  • What kind of insurance are you buying to protect your earning potential?

Peace out,
Ben

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2 Comments:

Blogger Jack said...

This is spot-on. Of course, as a sale strategist and sales coach, it's in my interest to tout "lifelong learning." But bias aside, I cannot fathom how anyone can survive (say nothing about prosper) without continuously feeding the mind. It makes sense to us physically: for if we're going to stay in shape, we can't visit the gym once a year or even only 40 hours a year...we have to do it consistently...sales training (or gaining technical competence for that matter) is no different. We have maintenance programs for our cars, our homes...but maybe we should have personal development programs for ourselves and our families' financial futures?

October 1, 2008 at 9:12 PM  
Blogger davie00 said...

This assumes that you're not learning anything at work. Work experience is the most valuble learning tool.

April 15, 2009 at 5:52 PM  

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