Anticipating the future to improve strategies and decisions – ah, it is evident the Equifax team didn’t engage in forward thinking last week! Retractions galore have occurred this week about the refund those of us whose data has been compromised will in fact receive.
Apparently there were too many compromised individuals who submitted for the cash relief offered. The FTC website now says, “The public response to the settlement has been overwhelming. Millions of people have visited this site in just the first week. Because the total amount available for these alternative payments is $31 million, each person who takes the money option is going to get a very small amount. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.
The free credit monitoring provides a much better value, and everyone whose information was exposed can take advantage of it. If your information was exposed in the data breach, and you file a valid claim before the deadline, you are guaranteed at least four years of free monitoring at all three credit bureaus (Equifax, Experian, and TransUnion) and $1,000,000 of identity theft insurance, among other benefits. The market value of this product is hundreds of dollars per year.
You can still choose the cash option on the claim form, but you may be disappointed with the amount you receive and you won’t get the free credit monitoring. If you want to revise your submission, the settlement administrator will be sending an email to people who already submitted a claim for the alternative cash payment. In that email, you will have the option to: 1) provide additional information OR 2) switch to free credit monitoring.”
Forward thinkers in business and in life teach us. If we take the Equifax situation and rethink it using forward thinking to prompt the team into an after analysis report, it might include the following:
- Viewing this problem as an opportunity, what can be done?
- What additional capital and labor investment is needed today to produce future benefits?
- How will we anticipate reaction moving forward differently to predict the future, adapt strategies and make decisions?
- Do we have change agents who wish to reshape the future?
- Who conducts probability analysis to identify and measure risk?
- Is there an active internal practice of planning for resistance and criticism to allow us to better prepare in the future?
Actively planning in life and business involves a healthy dose of forward thinking. A simple exercise might including asking, what if everyone … and what if no one …? These two questions stimulate thinking and planning for the what if’s.
Forward thinking allows you to take proactive steps to care for your business and the people who matter in your life. When you’re ready to consult and establish action plans, let’s talk. We’ll tackle those “life and work issues” with diligence and some fun along the way. Awareness of what’s at stake and what’s to gain is a powerful tool.
Reach out with questions via Email. Additional information is available upon request or on the website @ The Living Planner
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