No plan survives first contact…

When I was a serving military officer there was a commonly exchanged saying among us: “No plan survives first contact with the enemy.” Mike Tyson has a great (better?) alternative version: “Everyone has plans until they get hit for the first time.” Tyson said it first in August 1987 in the build up to his fight against Tyrell Biggs; it was an aptly made point. By the third round on the night, Biggs’ gameplan had disintegrated. The referee stopped the fight in the seventh; Tyson won handily.

The origin of the military version is a Prussian general, Helmuth von Moltke The Elder. A follower of Clausewitz (another earlier Prussian military theorist) Moltke The Elder developed practical theories about how to control and lead the large military forces fielded by European states in the later 19th century.

One of his key points was that forces were now too large to be commanded with great detail; a general had to make his intent clear and allow his subordinate commanders some latitude in delivering it. Another key insight was that senior military leaders had a responsibility to develop a set of contingency plans for all the various paths a conflict might take. An English translation of his original maxim might be: “No plan of operations reaches with any certainty beyond the first encounter with the enemy's main force.”

But rather than a lesson on the pointlessness of planning it was a reminder that it is compulsory. To achieve a specific goal you must maintain a plan. Most of my own early military training consisted of repeating ad nauseam a set method of making a plan. It became obvious you had to plan, or things started falling apart very quickly. But it also became obvious that a plan was there to be altered and maintained as events unfolded.

This is true of individuals too, especially when it comes to their finances. Having a specific, structured plan with a clear set of goals is a powerful tool. It makes the goals much more likely, forms a basis for decision-making and provides comfort that things are under control. It is there to be altered and maintained and that is exactly the value of it. Every large organisation works like this - you have long term plans which allow for better, quicker decision-making. But they change. And individuals can benefit from exactly the same discipline.

At Minos Wealth we guide you through this process. We provide the structure, technical expertise, industry knowledge and accountability to ensure you make the best of your financial life over time. Better to be Field Marshall Moltke than Tyrell Biggs.

Get in touch to start the process.