Today, I’m going to show you how to think like a billionaire, ditch your to-do list and achieve more by focusing on less.
It’s a simple fact that not all tasks are created equal.
Some are high value, high leverage while others are low value, low leverage.
The secret of billionaires, and other high achievers, is that they only invest their time into tasks that provide a large positive return.
John Paul DeJoria, founder of Patron Spirits Co. and cofounder of John Paul Mitchell Systems, provides a great example.
He built not one but two billion-dollar businesses without ever using email or a smartphone.
In his own words – “I’d be inundated if I did email”.
Yet most dads don’t do this.
Instead of focusing on what moves the needle you create mile-long to-do lists and get obsessed with ‘little chores’ that keep you busy.
“There is nothing quite so useless as doing with great efficiency something that should not be done at all.” – Peter Drucker
Last week I had a call with a dad who’s struggling to juggle the demands of his business, family and health.
He has a massive (and seemingly never-ending) to-do list that he can’t get ahead of.
Leaving him feeling stretched thin like he’s playing a terrible game of whack of mole.
I explained to him the 2 major problems with to-do lists:
- You weight all tasks the same (even though they aren’t)
- You gravitate toward the easiest tasks (chasing quick hits of dopamine for crossing them off your list)
Then I taught him a simple 5-step exercise called The Focus Finder™.
It helped him:
- Weed out distractions
- Order the chaos in his life
- Identify and focus on what is meaningful
- Accomplish more by working on less.
Here’s how to do it step by step:
Step 1: Create matrix
Get out a large sheet of paper.
And draw an Eisenhower matrix like below:
Step 2: Transfer to-do list to sticky notes
Write each task on your current to-do list on a separate sticky note.
Step 3: Place sticky notes on matrix
Take each sticky note task and place it in the most appropriate quadrant on your matrix.
Note – beware of the Urgent and Important quadrant. It’s hard to grow if you’re always running around putting out fires.
Step 4: Eliminate
We don’t do things that aren’t important.
All not important tasks should be:
- Or Delegated
In that order.
Note – be RUTHLESS here.
Step 5: Stack and Execute
Peel off the remaining sticky notes one at a time.
Put them into a pile with the highest impact tasks on top.
And get to work.
4% of your activities create 64% of your desired result.
This is known as the 4% rule and stems from the powerful Pareto Principle.
The Focus Finder exercise will help you spend more time, effort, energy and attention on the 4%.
And less time on the ‘little chores’ that distract you from making progress.
Give it a go today and let me know how it goes.
⚡️ Worth your time
This podcast episode from Naval Ravikant on “how to get rich without getting lucky.”
It may be the most important thing you listen to all year.
It was for me when I first listened in 2020.
🤔 A question to ponder
You are taking 2 months out of life to travel and can take up to 3 people with you. Where are you going and who are you with?