#33 - Your Message Is Being Heard
Reluctant Executor News
We have all had days where we feel like nobody is listening. Whether it's asking your kids to clean their room or reminding an elderly parent that they need to take medicine, the lack of follow through or acknowledgment can weigh heavily on us.
Social media is similar. I'm grateful when somebody tells me that one of my LinkedIn posts resonated with them, but usually people don't go out of their way to say that. Similarly, I follow some influencers where I receive value, but only in a rare occasion do I reach out and let them know.
But sometimes their posts inspire me to create content that can in turn help you. Below are two posts that were inspired by influencers I follow on LinkedIn.
LinkedIn post from September 30, 2024
Justin Welsh talked about creating standard operating procedures in his Saturday Solopreneur newsletter this week. His context was that SOPs are needed to share with contractors or freelancers when you outsource certain parts of your work.
Just as important, these SOPs are critical in the event of an emergency.
As a solopreneur, you do not have a successor being groomed for when you decide to step down. If your retirement happens unexpectedly, your family will need these SOPs.
They will either need to know how to shut everything down.
Or how to continue running the business.
Or how to maintain value long enough to sell the business.
Without this knowledge, the business value and income will likely plummet.
As Justin says in his newsletter, "This upfront work can feel like a lot, but it will save you a ton of time in the long run."
It will also save your family a ton of money.
Click here to comment or like this post on LinkedIn.
LinkedIn post from September 13, 2023
I've been looking at ROI all wrong.
The hours you spend to create your Estate Map is not an investment.
It's a hassle.
But it is much less of a hassle when you pre-plan.
And there is a math formula that proves it, called Return on Hassle, inspired by Khemaridh (Khe) Hy.
Return on Hassle is defined as ROH = Money Earned / (Capital + Time + Brain Damage + Stress).
Your return on an investment should not only include money, but also time and effort.
Looking at this from an estate administration perspective, the variables change.
ROH = Closed Estate / (Money Spent + Time + Grief + Stress)
Invert this equation and call 1/ROH = Hassle. The goal is to minimize Hassle.
You can see an example of how each variable applies to someone that created an Estate Map compared to someone that hasn't on ReluctantExecutor. The link is in the comments.
Spoiler alert, the person that took the time to create an Estate Map wins. They significantly reduce Time and Stress.
Do you agree with this formula? What other variables would you add?
Click here to comment or like this post on LinkedIn.
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Remember, just because something you said wasn't acknowledged doesn't mean that it wasn't heard. If you need help finding the best way to talk to someone about difficult topics, like end of life planning, schedule a free consultation with me.