INNOVATION

Goal-getter

Tapping into exponential productivity isn’t a trade secret kept under wraps by the world’s most successful people, but it takes a degree of focus, writes Scott Langley.

Let me ask you a question.

How long is your to-do list? What I mean is, how many projects are you currently working on?

If you are like most people, your list of active projects is longer than you’d like to admit. I’d bet this isn’t because you’re unproductive or not hard-working. If you’re reading this, the opposite is probably true.

So why do most of us wind up with a long list of projects, opportunities and things we’d like to get done? And if we’re honest, the list is often longer than we can get done in the time we really have available. I believe two things drive it. On the one hand, we live in a time characterised by the ‘chaos of abundance’. We have never had more choices than we do today. Opportunities are more abundant than at any other time in history, and it’s unlikely we’ll be constrained anytime soon. In fact, our options are only likely to increase as we advance in our careers, and more opportunities will present themselves along with those options. And on the other hand, we lack the disciplines of simplicity and focus.

The net effect is that most people have nothing more than an impressive collection of ideas that they’re not making any real progress on achieving. A list like that only weighs on our minds and adds to our guilt, stress and can overwhelm us.

So, what can we do about it? How do we move the needle on our project list and experience exponential productivity?

WARREN BUFFET’S 5/25 RULE

Warren Buffett is famously the most successful investor in the world. With a reported net worth of US$115.5 billion, he has achieved record-high returns and remained successful in a career spanning over six decades.

But Buffett isn’t just about investments either; he is famous for giving sage advice as well. The story below is told by one of Buffett’s employees – his personal pilot, Mike Flint.

Apparently, Buffett approached him after realising that Flint had been working for him for 10 years. Buffett joked, “The fact that you’re still working for me tells me I’m not doing my job.”

Wanting to discuss his pilot’s career goals and how he could help him achieve them, the billionaire asked Flint to conduct a simple exercise – one that would change the way he viewed his priorities forever.

The first step in the exercise was to list down 25 things that Flint wanted to accomplish in the foreseeable future. Second, he asked to rank these goals in order of importance and circle the top five. Prioritising his goals was undoubtedly more challenging than listing them, but Flint managed it.

Having identified his top five goals, Flint was asked a seemingly simple question by his employer, “What are you going to do with the remaining 20 items?”

“Well, the top five are my primary focus, but the other 20 come a close second,” Flint explained. He said, “They are still important, so I’ll commit some time and energy to those intermittently as I see fit or when I can’t get to my top five. They are not as urgent, but I still plan to give them dedicated effort.”

Immediately, Buffett’s expression changed, and he responded sternly, “No. You’ve got it wrong, Mike. Everything you didn’t circle just became your avoid-at-all-costs list. No matter what, these things get no attention from you until you’ve succeeded with your top five.”

While the story may be apocryphal, the truth of the anecdote is undeniable. A ruthless commitment to a narrow set of priorities produces more significant results than spreading yourself too thin. Buffet says, “The difference between successful people and really successful people is that really successful people say no to almost everything.”

SELECTIVE FOCUS

While Buffett spoke about the 5/25 rule concerning career goals (see top-right graphic), it has applications far beyond that. We can attain the same results if we are ruthlessly committed to a small set of priorities in our health, relationships and personal development as well.

We need selective focus and the discipline to resist getting distracted by the newest ‘shiny object’ that crosses our path.

Our odds of success improve when we direct our focus on a singular pursuit. We have to be dedicated to one thing and put in the hours to see significant improvement.

It’s the primary reason most of us will never reach the level of expertise required to be a superstar or truly world class in that field. Most of us attain a level of success and are happy to cease progressing there.

Each time we pursue a new course of action, we incur an opportunity cost. It takes our time and attention away from the other things that are most important to us. The price to family or work in achieving that level is simply too high to pay.

But when we are constantly switching from one project to the next in a never-ending game of Ludo, we never reap the rewards from any of them. No smarter than the farmer who uproots his apple tree saplings after a year to plant young avocado trees in their place, after seeing the price his neighbour got at the market. It will be many more years (and further expenses) before he sees any produce or profit. In Russell Brunson’s Mastermind group, he forbids entrepreneurs from starting a second business until their first one has made at least $1 million. He knows that if he allowed them to divide their attention into a second enterprise, they will never achieve the potential of their first business.

WARREN BUFFETT’S 5-STEP PROCESS FOR PRIORITISING TRUE SUCCESS

Know your ‘avoid-at-all-costs’ list, and give these projects no attention until the top 5 are achieved Know what you want – list your top 25 goals

Prioritise this list

Pick your top 5 goals

Make your top 5 plan for achieving these goals

CONCLUSION

Your time and attention are your two most precious and finite resources. Rather than adding to your project list, take the time to eliminate items from it. Think deeply about what truly matters to you.

The 5/25 rule is an exercise in simplicity and focus that could leave your life better, easier and more prosperous.

We shouldn’t be quick to open every door of opportunity because not all will be right for us. There will always be more good opportunities than we realistically have time for and, as Stephen Covey reminds us, “The good is the enemy of the best.”

Scott Langley is a regular contributor to Meetings. If you would like to learn more or get in touch with Scott, visit theplanner.guru/ author/scott-langley.