Tales Of A Fourth Generation Textile Executive: The Long Term PLan
Where do you see yourself in 5 or 10 years? What seems like an annoying question on a job interview is actually something that you should be thinking about on a semi-regular basis.
For me, duh, I will be selling fabric for Jaftex so I don’t need to think about it per se. With that being said, I will think about the specifics of how things will look at Jaftex in 5-10 years from now and will try to achieve certain goals that I set with my dad and brother. In other words, I will try to execute the plan that we put in place. To be honest, it’s really getting harder to imagine the future as the times are changing very fast especially with new technology and disruptive actors creeping up everywhere.
Regardless of what’s going on around you, it is important to have longer term goals and shoot to reach them. A plan! An effort and a thought are a good starting point even if everything doesn’t play out as you had imagined. At least you tried.
In a lot of cases, it is extremely challenging to even venture a guess as to where you will be 5 or 10 years from now because so much can happen that is out of your control. But you can definitely make some assumptions that will help you to develop your plan.
For example, will you live in the same state? I am pretty sure I am not leaving New York any time soon although I do wonder what would happen if our entire company was sold and I worked for someone else or retired. Did I say that out loud? Anyway, I digress and dream just for a moment.
Will you have the same mate or no mate at all? Will there be new additions to your family? Where will everyone in your family be 5 or 10 years from now? Will your same employees be with you? Will you be retired? Will you be in the same industry? For a lot of these questions, only you have the answers. These questions and so many other broad based questions will help you frame your longer term plans. The thing is that only you can select the long term questions that will help you develop your 5-10 year plan.
So back to the question, where will you be in 5 years from now? Think about what I have mentioned above and any other long term questions that apply to your life. Work on developing you plan for a bit and try to envision your ideal situation 5 years from now. Dream big. Now figure out how to create that ideal situation for you and make all efforts to execute your plan and reach your goals. I am going to do this for myself. You should do the same. Now we both have a long term plan. Get to it.
Mic drop
(I saw somebody say that at the end of their Facebook post and it made me smile.)
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Have a great week.
Scott
12 Comments
Cathy Miller
Hope still sewing quilts and teaching quilting. Hopefully more younger peopl begin to show interest in it.
Kara Benavides
“Ugh” is what I said to the 5-year plan, when I was in high school. But upon entering college, that whole 5 year: where yah gonna be thing really hit home. I’ve learned to “put it in ink, no matter what you think”. That makes it real. And it can stare back at you. And it can scare you, when necessary. Or perhaps it can bring some peace, whether for seeing goals fulfilled or realizing that you are already doing everything that you can and you need to chill and enjoy the ride, even if it is in a tiny boat in the Atlantic during a hurricane. My daughter, in her 4th year of college and seeing another year coming, and I have a 5 year plan to keep this little family solvent. Mainly, she has to start paying me back or I will loose my house. Yeah. Cold. Hard. Reality. Soooo, she called last night. Sending some more money. Yep.
Scott Fortunoff
Hi Kara,
Even a 5 year plan as simple as that is still a plan. Glad you have one.
Scott
Joyce McArthur
Good question, Scott. I retired last year, and am perfectly happy learning more about the art and craft of quilting. I’m one year in, and have made 16 quilts, so it looks like the hobby suits me. My plan is to stay in my little lake house, do my volunteer work, and enjoy the simple life I have right now.
Scott Fortunoff
Hi Joyce,
You trying to make me jealous? You enjoy that!
scott
Janette gauna
Funny you should bring it up…we were just discussing this. Since biz seems to get slower and slower and SLOWER, I see the shop closing. I see moving out of California to somewhere more…reasonable. I see forever Quilting and longarming because I love the craft! Wherever and whatever the Lord has in store for us and our family, we will rejoice in a wonderful, blessed life!
Scott Fortunoff
Hi Janette,
Sorry to hear that of course, but it is important that you did the right thing for you. That is all that matters. Good luck!
Scott
Janette gauna
Well, we have a few years left, we plan on going out with a bang! Haven’t given up yet! We are small but mighty!
Scott Fortunoff
Janette,
Glad to know you guys have a plan. Wishing you luck in whatever you do.
Scott
Sue Bartlett
According to a conversation which my five years old granddaughter instigated at the weekend I will probably be dead as I am very, very old!!!! Bless her!
Scott Fortunoff
That’s very cute Sue. I could always use some levity on a Monday. Tell your granddaughter you will be at her wedding. Have a great week.
Scott
Sue Bartlett
Thanks Scott, I will. The old saying “out of the mouths of babes” is certainly true in her case. If she wants to know anything she asks, but I am happy for her to be like that.