Don’t spend your whole life busy and not make progress.

Being busy is not the same as being productive. In fact, busyness is like Fool’s Gold. It looks like business to the uniformed. But it is easy to be busy without getting ahead. In fact, you can spend your whole career extremely busy but not make any progress. The same thing can happen in your personal life too.

The 80-20 rule says that 80 percent of the results come from just 20 percent of the work. (And that 80-year olds seen with 20-year olds have money coming out of the wazoo.) In other words, if you are spending your time on the wrong things you could get little to no results. 

Earlier in my career, when I was with a very large advertising agency, the majority of my time was sucked up with meetings. And meetings about meetings. And to the uninformed, it looked like we were all super busy beavers. But very little wood was actually chewed. And we weren’t building any damn dams.

Today, as an entrepreneur, I see a direct link between how I spend my time and the value that time creates. The goal of any business is to make money. And if you are spending time on anything that ultimately is not helping your organization make more money, you are wasting your time.

Your wasted time and wasted motions at work hurt your career. Because they rob you of time that could be used for self-improvement, networking or creating value for your organization. Those are the 3 keys to making your company more successful, rising within your organization, and earning more for yourself.

If you find yourself in meetings that are not adding value, do one of the following:

  1. Change the meeting. Take the initiative to alter the meeting to make it more valuable to your organization and the people in it.
  2. Shorten the meeting. Help fast forward to the information that needs to be shared or decision that needs to be made, and be done. Often we take a lot of time to do what could be done in just a few minutes. 
  3. Pull the cord. Just like riding the bus, you can pull the cord and ask to get out of the meeting at any time. Be polite, but clear that you don’t feel it is a valuable use of your time. If you feel that way, it is likely that others do too.
  4. Text someone outside the meeting to pull the fire alarm. That works every time.

Key Takeaway

Time is your most precious commodity. Evaluate the way you are spending your time. Look for inefficient and ineffective uses, then eliminate them. Don’t let others waste your time. The opportunity cost is too high with this non-renewable resource.

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The surefire way to increase your wealth.

I own a lot of books with the word ‘rich’ in the title. Among them you’ll find Think And Grow Rich, Rich Dad Poor DadThe Science of Getting Rich, The Richest Man In Town, and  Rich Like Them. In fact, I have bought so many books with the word ‘rich’ in the title that the Amazon recommendation engine now suggest books like The Adventures of Richie Rich, Rich Desserts, and The Many Impressions Of Rich Little.

The Real Lessons

I like these books because they are about success. They help you think and act in ways that help you accomplish great things. And those great things often attract money like magnets. Or magnates.

I consider the tips, tricks and examples in these books to be important reminders rather than great aha’s. Although there are certainly plenty of both in my library of riches.

The One Thing To Remember

But if you want to know the most important point of all about getting rich it is summarized in the following line:

‘It is the value you bring to a company, an organization, indeed the universe, that ultimately determines your level of wealth.’ -From The Richest Man In Town by W. Randall Jones

Key Takeaway

If you want to earn more money, add more value. If you want more social capital, add more value. If you want more political capital, add more value. Your success is directly related to your contribution. So if you want more, contribute more.

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