Champions Adapt

2009: 500 Days of Summer - Webb

The “summer” weather that we have been experiencing here in Britain has been somewhat disappointing and I dare say that the BBQ season will be a late starter for most of us. The conditions have been dire and to make matters worse, the forecasts have often been inaccurate or at best unreliable. We saw the problems that this created yet again at Wimbledon and for the British Grand Prix, to mention only a couple of major events. I imagine that quite a few brides up and down the country would also suggest that rain on their big day was more of an issue than for any sporting event - a marquee under water or a swamped car park tend to alter things.

A phrase that I have come to appreciate is “there is no such thing as bad weather, just the wrong clothing” as many of us reflect on yet another “classic” British summer, which requires being prepared for all types of weather. This makes life difficult for those that like to travel light. The British weather is often disappointing I admit, but if our lives become dictated by a bit (or a lot) of rain, then we are perhaps missing an opportunity.

The Formula 1 teams demonstrated how to cope with changeable weather, changing tyres, speed, balance but most importantly, having the ability to change strategy. Some teams are far better at this than others. The ability to adapt and look for opportunities is what invariably makes champions even better. Take Roger Federer, who will break a bunch of records as a result of winning the men’s singles title (again).

The same is true of great financial planning. Life sometimes takes us on a different course and a great financial plan will not only adapt for this, but was built with the assumption in mind. Financial planning is not forecasting (thankfully) it is about taking action to achieve certain goals. Sometimes, the goals alter and route one may need to be changed.