I first introduced the “My Three Words” concept in January 2023, when I shared my three words for that year. I repeated the exercise last year and evaluated my results for the previous year.
The My Three Words concept involves choosing three words that can help guide your daily choices and actions in the coming year. When selecting your three words, you consider whether your three words align with your chosen focus for the year. Using these words properly can help make it easier to say “no” to a project. When a project does not align with your three words, you should say “no.” To learn more about the process, you can also read this blog.
You want to review your three words frequently. I include them in my business plan to keep them front and center. I want them to be integral to my most important personal and professional goals for 2025. Sharing them helps me be more accountable. As I promised last year, it’s time to reflect on last year’s goals and see how I did. Then, I’ll share My Three Words for 2025 and comment briefly on what comes next.
My Three Words for 2024
- Partnership
- Collaboration
- Life Planning
Let me recap why I chose these words.
Partnership
As 2024 started, I intended to merge Apprise with another firm. I thought I had identified a merger partner who would help drive Apprise’s next level of growth. I also believed merging with a female-led advisory firm would fit well because of Apprise’s focus on working with women facing new beginnings.
Scorecard
How did I do? While the merger didn’t materialize, I learned valuable lessons that will inform future partnership decisions. I focused on collaborating with external service providers to enhance client offerings, earning a B- for progress.
You might ask, “How can you earn a B- if you didn’t complete the merger?” There are other ways to partner besides formal partnership. To focus more on the services Apprise provides to its clients, I am partnering with others in areas that fall into one of the following categories:
- Others can do a better job of providing the service than I can.
- Having me perform the activity does not bring noticeable value to clients.
- While I can do the work, I enjoy doing other things more.
Much of this centers on concepts discussed in Dan Sullivan’s book 10x Is Easier Than 2x: How World-Class Entrepreneurs Achieve More by Doing Less. Notably, “doing less” doesn’t mean “doing less” in the traditional concept. It means allocating ever-increasing amounts of time to the activities in the top right corner of the following grid:
Skills and Interests Grid
| Tasks I like to do that I’m not good at. | Things I like to do that I’m good at. |
| Things I don’t like to do that I’m good at. | Tasks I don’t like to do that I’m not good at. |
You want to spend more time doing what you enjoy and what you do best. This process is iterative. In 2024, I identified some things that I either don’t like or am not as good at. I have already identified some partners to help me with tasks in the grid’s bottom right corner.
Collaboration
Here, I focused on two types of collaboration. The first was a collaboration with my proposed business partner. The second was greater collaboration with clients through life planning.
How did I do? Greater collaboration with outside providers and deeper integration of life-planning concepts into client relationships were highlights. Applying these concepts helped clients align their TEAM—Time, Energy, Attention, and Money—with their values. Grade: B+.
For example, I often highlight the importance of aligning your TEAM of resources—Time, Energy, Attention, and Money—with your values or what’s most important to you. You can use this concept to guide your money-related decisions.
Taking this approach helps clients make better decisions. It improves their chances of living their most fulfilling lives—of being happy. Client-advisor relationships are enhanced through life planning as they turn the relationship into more of a partnership.
Life Planning
Life planning remains central to Apprise’s mission as it represents an integral element of Apprise’s Pathway to Informed Success.
How did I do? While not all clients are taking advantage of this service yet, teaching life planning to advisors and incorporating its principles has been rewarding. Grade: A.
This reflection has helped clarify my goals for 2025: enhancing efficiency, prioritizing self-care, and driving growth.
My Three Words for 2025:
Why did I choose these three words as My Three Words for 2025?
Efficiency
Since I formed Apprise, I have often said, “When I am doing one thing, I am not doing something else.” My outsourcing efforts focus on having others do tasks that take me longer than they should. Sometimes, paying someone else to do a task makes more sense than doing it yourself.
While it is not business-related, I often share this example. When we moved to our current home, I purchased a lawn tractor from the former owner. Cutting the grass took me three hours, and I wasn’t completing the job. I enjoyed having one of my children sit on my lap as I cut the grass, but there were better ways to use my time. My wife found someone who would cut the grass for $45. I knew he would complete the job much faster, but that translated to $15 per hour. Having someone else do the job allowed me to put those three hours to better use.
I also want to add more workflows to the Apprise Custom Relationship Management (CRM) software this year. Adding more workflows involves creating processes with a sequence of steps to follow. Creating processes takes time. However, it also makes it much easier to complete repeatable processes without potentially omitting a step. It also keeps you from duplicating efforts as often.
Building greater efficiency into Apprise’s business will allow me to spend more time working with or for clients, which is the aspect of the business I enjoy the most.
My oldest son also helps me with Apprise. He will play an instrumental role in creating workflows. I plan to delegate more tasks to him, freeing up more time. From a life-planning perspective, I aim to make my current day more like my ideal day.
Self-Care
When we get busy, we can easily neglect ourselves. I make sure to exercise almost every morning, but I also neglect other things when I get too busy. For example, while I have a meditation practice, I would like to meditate more often. Currently, I only meditate in the evening, but I want to meditate at least once during the day, too.
Meditation enhances focus, reduces stress, and promotes mindfulness, helping you stay present and grounded. It supports emotional well-being, improves physical health, and fosters a deeper sense of inner peace. Meditating consistently can also boost overall resilience and improve relationships by encouraging a calm and attentive mindset.
My focus on improving self-care extends beyond increasing my meditation practice. It also involves paying greater attention to my physical health. It’s important to understand that the best way to be healthy and active as you age is to be healthy and active when you are younger. For example, the best way to be active and healthy at 60 is to be active and healthy in our 50s.
It’s also essential to align your health with your goals. In other words, consider creating a timeline for your bucket list activities. Consider doing those that require you to be in the best health or shape when you’re younger.
Growth
There are two types of growth to consider. The first is business growth. Apprise can grow by adding new client relationships or expanding its relationship with current clients. Historically, it has grown through both of these methods. My aborted partnership effort helped me refine my vision for Apprise’s next level of growth. The elements of this year’s business plan are designed to help achieve that growth.
Personal growth is an important factor in my life. I read constantly, and I share my favorite things every three weeks when I publish my “Favorite Reads” blogs. I also strongly believe in the value of continuous learning. Improving my understanding of different concepts makes answering client questions and explaining complicated issues easier.
The rules, especially the tax rules, change constantly. Reading about topics relevant to Apprise and its clients is the only way to keep up with these inevitable changes.
How About You?
If you would like to complete your list of My Three Words for 2025, consider the following suggestions:
- Choose three words that are individual and actionable.
- The words need not mean anything to anyone but you. You don’t have to explain them.
- Stick with your three words throughout the year.
- Your three words should be meaningful and action-oriented.
- The more you review your three words, the better. I write mine into my short- and long-term planning guide. I also have them on a sticky note hanging from one of my monitors.
If you choose your three words for 2025, please share them via email. We can also check in on each other’s progress during the year.
If you choose your own three words for 2025, don’t keep them a secret. Please share them with your family, friends, and even your clients.
Let’s make 2025 a great year! Schedule a time to discuss how your three words for 2025 can align with your financial plan and life goals.
If you would like to discuss financial topics, including your investments, creating your life plan, saving for college, saving for retirement, or the retirement smile, please complete our contact form or schedule a call or a virtual meeting via Zoom. We will be in touch.
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For firm disclosures, see here: https://apprisewealth.com/disclosures/
Phil Weiss founded Apprise Wealth Management. He started his financial services career in 1987 working as a tax professional for Deloitte & Touche. For the past 25+ years, he has worked extensively in the areas of financial planning and investment management. Phil is both a CFA charterholder and a CPA.
Located just north of Baltimore, Apprise works with clients face-to-face locally and can also work virtually regardless of location.
