Well, I’ve found myself with too much to do once again. I have a habit of doing that. Many things look fun and exciting to me, and not long after I think about them, I find myself spending time on them. What to do?
I have read the book, The 7 Habits Of Highly Effective People, and it mentions getting rid of all things that are time wasters that don’t contribute to your goals. This is habit 3 from the book, put first things first. The book separates your activities into four quadrants, which are categorized below with an example activity:[1]
Quadrants of the Time Management Matrix
Important and urgent
Deadline driven projects
Important and not urgent
Planning and Recreation
Not important but urgent
Interruptions and some calls
Not important and not urgent
Trivia and busywork
Highly effective people spend more time in the important and not urgent quadrant as it is proactive and keeps them out of crisis mode.
Here is a link, if you’re interested in finding out more about this book: The 7 Habits of Highly Effective People Book
Indeed, the quadrant analysis helps.
Another way to tackle the problem is in the famous story regarding Warren Buffett’s pilot Mike Flint. In the story, Warren asks the pilot the following question. What are your top 25 career goals? And Warren Buffett suggests he write them down on a piece of paper.[2]
After doing so, Mike Flint was to circle the top five. Mike then said he would concentrate on the top five but work on the others intermittently since they were reasonable goals. But Warren Buffett said, “No. You’ve got it wrong, Mike. Everything you didn’t circle just became your Avoid-At-All-Cost list. No matter what, these things get no attention from you until you’ve succeeded with your top 5.”
And so there you have it straight from one of the world’s most successful investors. Work on your top five goals. You can, of course, use Stephen Covey’s quadrants to help you understand how important and urgent these goals are, and that may move the goal up or down in your top 25 goal list.
In Stock Market Masters, my book about the habits of phenomenal investors, I call this habit Laser Focus on your investment goals, and all three of the great investors mentioned in the book are passionate about this habit.
In any case, I hope that helps with your busy life,
Happy Investing,
Dr. Paul Keller
The Financial Master Series Books
The Beginner’s Guide to Rental Property Investing
References
[1] Stephen Covey, The 7 habits of highly effective people infographic version, page 206
[2] https://www.inc.com/jory-mackay/warren-buffetts-personal-pilot-reveals-billionaires-brilliant-method-for-prioritizing.htm
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source https://drpaulkeller.com/time-management/
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