Ron Shaich, renowned founder of a major food chain, adopts an unconventional approach to life planning, using thoughts of mortality as a catalyst for success.
Ron Shaich, the visionary founder behind Panera Bread, employs an unusual method known as a ‘premortem’ to fuel his drive for a purposeful life. Each year, he envisions his own passing, a practice that helps him aspire to a more fulfilling existence. ‘It’s important to evaluate your life not at the very end, but much earlier,’ he told the Wall Street Journal, emphasizing the need for proactive reflection.
In his annual ritual, Shaich assesses various facets of his life by outlining them on a yellow legal pad. He examines his health, relationships with loved ones, career ambitions, and spiritual well-being. By doing so, he determines what he hopes to achieve in each area, ensuring no aspect of his life is left unattended.
This methodology of planning has evidently served him well. Shaich reached billionaire status and sold Panera in 2017 for an impressive $7.5 billion. His investment enterprise, Act III, continues to thrive, supporting brands like Cava and Tatte Bakery. The inspiration drawn from his ‘premortem’ doesn’t just guide his personal life; it also directs his business endeavors.
Shaich encourages his companies to perform similar exercises, asking them to visualize their goals for the next few years and strategize the paths to attain them. He credits this approach for the substantial successes enjoyed by his ventures. For Shaich, the contemplation of life’s end is not a source of fear but rather a motivator—an opportunity to ensure that every effort is meaningful and impactful.
By contemplating mortality, Ron Shaich channels his aspirations into tangible achievements, both personally and in the business realm, demonstrating that foresight and reflection can be powerful tools for a life well-lived.
Source: Businessinsider
