The Opportunity Ball

Last December, I was honored to be the Eastern Illinois University commencement speaker for fall graduation. Lumpkin School of Business & Applied Sciences Dean Diane Hoadley had asked me to relay some of my life/work experiences, which led to my success. As a tip of the hat to my career in the investment business, my talk was about how I learned to "Invest in Myself." With all the pressures that students face today as they prepare to join the work force full-time, I think one of the speech's points might be particularly useful to share.

"A few years ago, my friend Kirk Gibson and I were talking about how baseball and the investment business were similar. Kirk was the 1988 National League MVP and hit possibly the most dramatic home run in World Series history. Gibby said when you hit a home run, celebrate it, but don’t get carried away as, inevitably, you are going to strike out and when you strike out, you can’t get too depressed because another at-bat is coming. Such is the case with investing in stocks and, I daresay, the same is true with life. Celebrate the home run, feel bad about the strike out, but then let it go and move on. But remember, you have to take some swings if you want to get on base. So, if the right opportunity ball comes at you, be ready to take a rip at it even if you risk a strike out. But if you do strike out, learn from the experience."

You don't have to swing at every pitch that comes your way, however, in a tough economic time opportunity balls tend to come at a very, very slow pace. But, ask yourself, "How ready am I to swing at the opportunity ball when it gets thrown?"

If you don't have an answer or think you are inadequately prepared, seek out help from the EIU faculty or find a mentor to help you further develop your skill set. Put another way; improve your swing, and your ability to hit the opportunity ball. You might have to adapt to the changing realities of the world. In other words, the dream job might not be there. Yet, that does not preclude you being successful or finding work you find rewarding and meaningful.

Like beauty, though, success is in the eyes of the beholder. Quite frankly, while I had what most would say was a "successful" investment career, my definition of success is measured by my family and personal life. My work was fulfilling and I loved my vocation but, ultimately, it was a means to an end. As I wrote in the last economic/investment strategy piece I authored before retirement from the wealth advisory firm I co-founded, "I have worked for my wallet all my life, now it is time to work for my soul."

So start thinking about what success really means to you and from where the opportunity balls might come for fulfillment. Then, prepare to swing away!