About Mark Pace

T. Mark Pace

When there is an immediate need for cash at the time of someone’s death, it has been my experience that life insurance, when properly acquired and managed, is one of the best tools ever invented for the creation and transfer of wealth. However, life insurance is rarely acquired properly and, because it is mistakenly assumed to be a "buy and hold" asset, it is never managed. The resulting financial disasters are far too frequent and completely avoidable.

If you would like to learn more about any Pig-in-a-Poke blog posts or discuss any other life insurance issues, contact T. Mark Pace at Mark@objectivereview.com

 

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Pace’s Pig-in-a-Poke

About Pace’s Pig-in-a-Poke

Pace’s Pig-in-a-Poke, provides an arena for sharing the four great passions in my life. My three foundational passions are:

  1. Invest in yourself first;
  2. The genius in all of us, and;
  3. We can all live a long healthy life.

These three support my life work and my fourth passion; LIPM™ (Life Insurance Property Management).

As the blog title suggests, my focus is on debunking all of the myths, misuse, and muddled thinking that has accumulated in the life insurance industry. And, from time to time, I will go outside of the specific world of life insurance and share my views on my other three passions.

I hope you find my blog worthy of your attention, informative, and occasionally inspirational. I welcome your comments, questions and suggestions.

Mark Pace

How many ways do your perceptions hold you back?

 

“…human beings act in accordance with the underlying structures in their lives.

Some structures are more useful than others in leading to desired results.

Rather than asking, ‘How do I get this unwanted situation to go away?’ you might ask, ‘What structures should I adopt to create the results I want to create?’"

Robert Fritz

The Poke

Perception determines what we believe is real in all things. From our interpretation of the meaning of the movie we just watched, to our ability to recognize opportunity, to how we relate to other people and how we view ourselves.

Many artists who teach say the greatest handicap their pupils face is an inability to actually see what is real. The students do not accurately see what they are looking at because their perceptions are too powerful to overcome. Sounds paradoxical… and in some ways it is. What you see is what you get; but if you can’t see what really is, what are you actually going to get?

Police officers taking statements from witnesses have a similar experience. The accounts they hear often vary to such a degree you would think each person witnessed a different event. Again, perception and reality are not the same.

Unfortunately, people live their lives bound by the limits and vagaries of their perceptions.

The Poke Exposed

In a recent coaching session with one of my mentors we discussed the movie Moneyball starring Brad Pitt. The movie is about sports team management pioneer Bill Beane and the statistically driven method he introduced to major league baseball. Near the end of the movie (spoiler alert!), he is offered an opportunity to manage the Boston Red Sox. He turns it down.

My mentor asked me why I thought Beane turned down an offer that would have made him the highest paid general manager in all of baseball.

I said I thought it was obvious, Beane turned the job down because he wanted to remain near his daughter and because he had unfinished business with his current team. I said I thought he made a heroic sacrifice.

Here’s what my mentor said, “Mark, Beane could only see himself as a failed baseball player. He couldn’t take the Red Sox job because it would require him to completely change his perception of what he was capable of. He remained in Oakland because it was the path most likely to lead to continued failure.”

My mentor then lowered the boom. “Mark, you identify with Beane as a failure because you see yourself as what you have been in the past... which is not good enough for the future you say you aspire to. Your perception of yourself prohibits you from turning your full value loose upon the world.”

Well, flabbergasted is a good word for how I felt. But, the more I thought about it, the more I realized my perceptions were holding me back. I also realized there was no way for me to see this on my own… my perceptions would not let me.

Now, that we limit our potential based on our perception of personal worth is not a new thought. But, being aware of how powerfully our mind shapes perception to conform to our pre-established biases gives us the opportunity to deal with it and, in turn, recognize and take advantage of reality.

Pace’s Poke Remedy

By quoting Robert Fritz to begin this blog, I am suggesting we can break through the limitations imposed by our perceptions when we create better underlying support structures.

In other words, because we automatically and unconsciously impose our past experiences, beliefs, prejudices, fears, and self-defense instincts on everything we try to understand, are forced to deal with, or wish to pursue, I say, “What the heck! Let’s create something new!”

Here is an example. For 2012, I am creating a new structure with the direct and continuous participation of all the ObjectiView team members. We are in the process of defining a dashboard of critical activities and projecting the results they will cause. Once the dashboard activities have been defined, agreed upon and delegated, we will continuously measure our performance in executing these activities and learn from the results we achieve. With this structure, I believe we will be able to constantly improve our performance by refining how we execute critical activities or by creating new activities if so required.

This new structure will enable us to take our personal perceptions out of the game… at least as a team. Instead, we will replace the vagaries of perception with the certainty found in the answers to two simple questions, “Did the work get done?” and "What were the results?"

Once you are aware of how your perceptions hold you back from tapping into genius you have not taken full advantage of, the most important thing to do is work on who you can become.

If this makes sense to you, then I think the question you need to answer is, “What structures will you create to break free of the bonds of perception?”

(Postscript: As I wrote this blog, I gained added clarity into how perception has hindered the life insurance industry. Too often, policy owners and their advisors perceive life insurance as something that is simple, temporary, disposable, and of limited value. This perception enables the carriers and their representatives to sell more policies and protect profit margins. But, when life insurance is perceived for what it really is - when it is acquired and managed as property with complex and flexible property rights - it becomes highly valuable and enduring.)

 

About the author

Mark Pace
Mark Pace
When there is a need for immediate liquidity at the time of someone’s death, it has been my experience that life insurance, when it is properly acquired and managed, is one of the best tools ever created for the creation and transfer of wealth. However, in my 35 plus years of experience, life insurance is rarely properly acquired and never managed… thereby creating a monumental financial disaster for many individuals that should never happen.

If you would like to learn more about this Pig-in-a-Poke subject or discuss any other life insurance issues, contact T. Mark Pace at Mark@objectivereview.com

Comments

Sullivan calls it Measurable Visable Progress. Not good enough to say, yea, i feel pretty good about my pipeline. You must show that, well, I made 40 prospecting calls this week which resulted in 6 meetings and two signed engagements. Focus on the execution not the results. love to see your dashboard metrics.

Tuesday, 03 January 2012
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