How do you decide what is the most important for your family?

Families everywhere face the challenge of limited resources and a host of competing priorities that vie for first place. A conversation about resource allocation might help!

In my quest to become a better leader, I occasionally listen to podcasts by people I respect. One example is the pastor of Life Church, Craig Groeschel. In a recent leadership podcast, he said some things that I think could be helpful for your family.

The title of the talk was “Investing Your Resources The Right Way.” He was speaking from the context of church leadership, but he also mentioned that families can benefit from thinking about their resources as well.

Simply stated, resource allocation is investing your available resources in the present to accomplish your goals and objectives in the future.

Pastor Craig says that a resource is an asset or a tool at your disposal. Things like time, material, cash, people, and energy should be considered as resources. Sometimes we underestimate how many different resources we really have as a family!

In the podcast, it was emphasized that rather than using terms like spend or use, we should train ourselves to use the word invest. To spend means to trade “this” for “that”, but investing refers more to devoting a resource to something important and expecting an exponential return.

Here are some steps that you can consider if you want to improve your resource allocation as a family.

Clearly define the win. Take some time to think through what a win for your family would look like. Try to be as specific as possible and maybe think in the short term as well as the long term. If you can be specific about what a win looks like for your family in the next six months, it will help you by focusing your activities and how you invest your resources. Don’t rush this part. Be specific.

Take inventory of all of your resources. Make sure you think about less obvious things that could be assets at your disposal and write them all down. Things like personal strengths, time, relationships, material goods all are examples of resources that aren’t money!
Write down what each person will do next with what resource to help you achieve the goals you have clarified. You will have to determine what you can do today that will help your family get you all where you want to be. This will take time, some negotiating, and active listening. It’s okay to explore possible investments of your various resources and discover together what will help you reach “the win” you have identified.

Make sure you celebrate progress toward your goals!

Remember, resource allocation is investing your available resources in the present to accomplish your goals and objectives in the future.

How does your family decide how you will invest your resources?

 

Podcast credit: Craig Groeschel Leadership Podcast-Investing Your Resources The Right Way, Part 1. April 4, 2018.