I give a lot of consideration to the way I use my time. Often, these assessments lead to significant adjustments. A decision this week reminded me of a similar situation a decade ago.
In 2003 I joined a club to conduct business and entertain clients and prospects. This club provided excellent food and beverage service to accommodate breakfast and luncheon meetings. It had enough rooms of varied sizes for private meetings. Because of its commanding view from the top floor of a high-rise office building, it was a popular place for many events, including weddings, and holiday parties. It was a good location for political functions. I made good use of the club’s amenities, especially during the holidays. I hosted an Annual Company Meeting and facilitated the use of the club for a major alumni event and a few smaller gatherings. My middle daughter chose the club for her wedding and reception. The club was good about giving back to its members as well, hosting a free members appreciation gala during the holiday season. It wasn’t the most convenient location, but I met a lot of great people and significantly improved my networking skills.
Among the members, I came to know, were a few cigar aficionados. Although the club was a non-smoking venue, there was a cigar bar in an adjacent hotel. One thing led to another, and eventually, we formed a poker group. We met once a month, enjoying a cigar and a beer or two before the game. Poker night was not as much about poker as it was camaraderie among friends. Fifteen years later, the game is still going. It is still less about the poker and more about spending time with friends. Only two of us are left from the original group, as members have come and gone.
Toward the end of 2008, as the economy slipped into recession, I chose not to renew my membership with the club. The recession put a lot of things into perspective. A crisis will do that. I came to realize that I was not meeting the type of people I needed to build my business. Additionally, the location caused me to spend too much time traveling to and from the club. It wasn’t necessarily a happy decision as I was very fond of the club. I had made some lasting friendships and had gained the respect of the management and staff. Sadly, continued membership at the club was not aligned with my objectives. I realized the need to refocus my efforts as the economy became more unstable and unpredictable. It wasn’t easy leaving the club, but it was necessary.
I had a similar epiphany Friday morning conducting a very successful ITB Partners meeting. I was with twenty highly accomplished professionals, with two or three more participating by telephone. We were discussing plans for a strategic review for our company. It was quite exhilarating. I’ve always enjoyed leading bright people through the process of chartering business strategy. You could say that it is in my DNA. I was in the zone.
On the other hand, I’ve come to realize that I no longer have the same level of anticipation for poker night. In fact, I’ve noticed a certain level of trepidation. I know it’s pointless to continue playing if it isn’t enjoyable. I have far too many other responsibilities to occupy my time.
When I compared Friday’s meeting to the monthly poker game, the implication was clear. The thrill is gone. I have been going through the motions. It is no longer a productive use of my time, even for recreation. It’s time to move on. My decision won’t affect the relationships I have with close friends in the group which are solid.
It’s important to reassess from time to time. Successful companies have a process to review their annual progress against plans, adjusting as needed. As individuals, we make New Year’s Resolutions at the beginning of each year. Many of those resolutions are never achieved, however, we understand their intrinsic value. I find it useful to assess the way I use my time in connection with my goals and objectives. I think you will too.
Jim Weber, Managing Partner
ITB PARTNERS
