Life Imitating Art III, the Life Plan

In parts I and II of this multi-part article I wrote about how this company is the result of introspective thinking by the founders about what we wanted to do next with the working portion of our lives. We then sketched out how our respective 'perfect' work experiences would co-exist with the demands of launching a new company and that this started by making sure that we knew what our life goals were. As we mentioned in the earlier posting, knowing one's life goals is enough detail that one can make decisions upon them (for example structuring a company) is an involved process, but well worth it. We call the result of all of that work a "Life Plan."

Why do a Life Plan?

Anyone starting a business knows that one of the first things you do is to create a business plan. This document covers where you are going to take the business and how you are going to get there. It is hard to imagine a founder of a serious business start-up that doesn't spend a great deal of time thinking about these questions. Yet it is rare to see that same level of effort going into one's own personal lives. Where is the personal business planning process? We call this the Life Plan and believe it is as important for people as it is for businesses.

When should one do a Life Plan?

With a business it's easy when to know a plan, generally at the start and even more specifically when going out to investors or some other significant event. Business people are generally busy by nature and won't do a plan until one is called for by a triggering event. Unfortunately in our personal lives such triggering events can arise rather suddenly (job loss, midlife crisis, etc.) and when a person most needs/wants a Life Plan they might not be in the best position to do the type of long-term introspective thinking required to create one. Another reason to do one earlier rather than later is that the later one gets in life the harder it is to make material changes. For example, if you are 65 years old it is tough to decide that you want to be a doctor and not a lawyer. That said other types of decisions call for a perspective that is tough to have too early in life. For the types of issues that LifeTwo addresses we generally consider the mid-30s to the early 50s to be a time that people should have a Life Plan. Please note the obvious that Life Plans are living documents and can be changed as often as you like to reflect your changing opinions on what you want to do with the balance of your life.

How does one do a Life Plan?

That of course is the million dollar question and one that this entire company is dedicated to helping you answer. In the beginning we will be giving you tips & suggestions how you might want to approach creating one. Then as new people join the community members will begin to weigh in on their own experiences and suggestions bringing a "wisdom of crowds" approach to the problem. Finally our engineers are working on a set of utilities that will make the Life Plan creation/updating process even easier.

What should I do in the meantime?

By coming to LifeTwo you've already started. Thinking about what you want to do with your life in a prospective way is the proverbial first step. Start writing down things you want to accomplish before you are too old to accomplish them. If you have trouble coming up with ideas check out some of the books that we will be reviewing on the subject. Please participate as much as possible in every area of LifeTwo that you feel comfortable.