Yesterday, I was having a little conversation with my friend, Dave. Dave mentioned to me that he had read a blog (I don’t have a link because I didn’t read the article myself) where the writer was espousing a new way to do a “To do” list. Apparently, the guy seemed to think that he had come up with a new way of getting stuff done in a way that you would make the most possible money. Dave asked me what I thought about the idea.
Well, the way that it was explained, the guy was saying that you should write down everything you need to do. Next, look through each item on the list, and immediately scratch off every item that will not make money for you today. Basically, concentrate your time and focus on the things that will put extra money in your pocket today. Long-term stuff should be put off. Time wasters? Throw them aside altogether. Well, there is some appeal when you hear the idea. I mean, it makes sense to focus yourself on things that make an immediate payoff, right?
Wrong.
I disagree with this concept.
I disagree strongly.
I mean, most of the things that pull in nice money for me today are things that it took a week, a month, even a year to put together. It was hard work that I had to do every day to put these projects together. A project that took me a month to build paid me nothing for those 30 days that I worked. But, if I did not invest the time to do it, I might have lost out on $100 or more per day in income. Some of these things that I spent major time on for nothing while I did the work pay me handsomely now, and I do nothing now, just collect the money! Now, that is something that is nice, when you get money every day for work that you did years ago. That is a better approach to managing your “to do” list if you ask me.
So, how would I suggest you do your to-do list? What I do is that I list out projects that I want to complete. I look at those projects and try to figure how much income they will produce for me in the long haul. I mean, how much can I earn this year? Next year? Over the next 10 years? Those that promise to bring me in long-term money will pay off a lot better than focusing today’s efforts on getting that extra $20 that I might have missed out on. Maybe I won’t make that $20 today, but I might make a half million dollars over the next ten years. I prefer the latter.
How about you?
Hi Bob,I agree with you.To many people look at get rich quick methods but these are not sustainable,most don’t work unless you are extremely lucky.Gambling is one example,how many poor bookmakers do we see.Compounding is best just like compound interest its proven time and time again.A little like your $1 a day plan,regards Chas.
Hi Bob-To agree and disagree, thats not a matter for me–as long as I am learning from what you and the guy had said.
Thank you and good luck!
Hi Chas – Yeah, I believe in get rich slowly, not quick! When you take time to do things correctly through proper planning and such, that is when you will see a payoff, more likely!
Hi NKG – Thank you for stopping by! I hope you are doing well.
I think we could agree on a modification or ‘finer tuning’ of the idea. It’s obvious that ignoring planning and laying the foundation for the duture wuill lead to disater, but it’s also been my experoence that whiling away tome on planning functions then no sales are coming in is aprimary cause of many business failures in both the online and off line world.
Example of my own ‘bad’. When I was operating my last ‘brick and mortar’ business I was great at finding potentila clients and sending out customized teaser proposals designed to whet their appetite s on what they would save if they had a sit down with me to go over my service to save their business money and incrase their net profit.
but I was very bad at following up on thiose mailings, becuase that’s the part I hated. Later I met a frind in essentially the same boat only he was a bit more clever … he hated the calling aorund to follow-up as well but instead of shirking it, he hired a third party to just follow up on his mailings and set appointments. Since he only paid for appointments that were ‘set’ he risked nothing and anyone knows once you sit down with someone, literally ot virtually as an equal, it’s not that hard to do business … anyway strike a balance is my viewpoint, if a day goes by that you aren’t doing at least one thing that is directly sales related you have to ask yourself if you are really doing all you can.
Hi Dave – I totally agree that you really must focus on sales directly. My only argument with the policy for to-do tasks is that sometimes the thing I focus on is sales related, but the sales might not come for 6 months, if you know what I mean.
I know this is your blog about money, but just a comment. Some of the most important things in life do not make money; helping somone in need, listening to someone who needs to talk, spending time with your kids and your wife, spending some money to do some good… I could make this a pretty long list. The check list you descibe (from that bog) is the check list of someone who will get to the end of their life with money (maybe) and a lot of regrets.
To run a business, I know you have to prioritize and think ahead and work at it. I am just adding a little balance here… 🙂
Hi AmericanLola – Yes, you are right, there is a lot more to life than making money. However, as you point out, that is the subject of this particular site. I have lots of sites, as you know, some on other subjects that make up my life. So, I think it is appropriate on this site to focus only on making money. It certainly is not the entire focus of my life, though!
Take care!
Only doing things that bring you money today doesn’t sound like a good idea to me unless you are really desperate for some cash.
I think the problems in the financial markets (way too much bad debt) is exactly caused by the mentality to score today and not think about tomorrow. Selling a loan to someone who will not be able to pay it back is not a good thing, even if it brings you some nice bonus today!
I agree JanP. Focus on the long term and implement!