the business literature, there is now the construct of adjacencies.
This is a strategy to fuel profitable growth, when an organisation
pushes outside of its core business, into what is seen to
be an adjacent space.
The Nike sneakers that I bought in 1982, were not a brand
then, when I upgraded from Bata crepsoles, on my first trip
to the Big Apple. But Nike developed adjacencies, one at a
time, from 1982 running shoes, to the Tiger Woods US$100 million
deal, in golf paraphernalia.
The message is: you cannot get different results, by doing
things, the same way. You have to reassess, re-articulate
a new plan and develop a new strategy. It works in business
and it works in private life.
So heres the adjacent space!
To determine your current position: get a budget sheet from
your financial advisor, and complete the exercise carefully.
Scrutinise the figures and see where there are spaces, for
conservation, cut backs, or expenditure items that can be
deferred or postponed for 24 months.
Next look around the house and get rid of all the things you
have not used for one to two years. Include the kitchen wares
that have become ornaments. Set a price tag on every item,
and get rid of them.
If it is worth your while, e-mail the list to your friends,
post it up in the office and advertise a garage sale. If you
think the garage sale is not part of the culture, remember
you cannot get different results without pushing the boundaries.
If you cant sell the items, give them away. At least
you will clear up clutter and get some feng shui in your space.
Next: make a different plan for the tax refund and every bonus
for the next 24 mouths, instead of spending it on things that
you cannot even recall.
One local company paid out a bonus of some $25,000 to a certain
category of ordinary employees, this year.
We can hazard a guess, that most of that bonus money was consumed,
and little saved, for the long term. Yet all it takes is one
year or two years of conservation.
Do you know that at todays rates of return on long term
savings plans you can create a cash estate to the tune of
one million dollars, for your 18-year-old son or daughter?
All you need to put out in this year is $3,000 and just leave
it there. When that child is 65 years old that child will
receive the inheritance you created.
What use is that to your child when he attains the old age
of 65, you may ask?
It is an adjacency, it creates a million dollar estate for
your grandchildren! If you cannot leave your own children
a million dollar estate when you die, you can leave it to
your grand children!
You see, one of the problems of the human condition is lack
of vision, and a now-for-now mind set.
The estate of Queen Elizabeth II was not created in a day.
And while there is poignant truth in the idea that all of
our ancestors worked, blood, sweat and tears to contribute
to her wealth, so evidenced in the Crown Jewels of the Tower
of London, we cannot rewrite history!
But we are writing our histories now! To leave legacies and
transfer mighty estates, you have to push the boundaries.
Very few get it handed on a sliver platter, and some will
merely dream, but the rest of us, we will expand into adjacent
spaces and leave a brilliant legacy.