There is a lesson to be learned from the first days of President Trump being back in office – he obviously had his priorities, and took action he deemed necessary to get started on completing the tasks. As a business owner, there is a takeaway from what we have seen since the afternoon of Inauguration Day – first things first, then move on. Even if the time frame is four years, manage in the moment.
The management of time is a key ingredient to achieving success [or at least, the feeling of personal accomplishment] each and every day. From a historical perspective, the story of Charles Schwab and Ivy Lee from 1918 is legendary. Schwab, the owner of Bethlehem Steel, was frustrated with the pace of his team’s efficiency, so he hired Lee as a productivity consultant. Lee laid out his approach, asking for only 15 minutes with each of Schwab’s executives. When Schwab asked how much the cost was, Lee told him to wait three months and pay whatever Schwab felt the strategy was worth. The immediate result was a vast improvement in staff communication, problem-solving, and ultimately in Bethlehem Steel becoming a giant of the industry.
What was Ivy Lee’s method? At the end of each day, write a list of the six most important things to do for the next day and order them from one to six. In the morning start with number one. Keep working on it until completed, then move to number two. Keep working on this one until completed, and then move to the next item on the list. Continue this way until completing all the priority items on the list.
I have been a practitioner of this system for years, and still have my notebooks filled with daily schedules. Lee suggested no more than 8 tasks, I tend to expand that number, but the first item for each day is the key action item, and I stay with it until satisfied with the outcome. My recommendation for this technique is the increased focus on the now, less procrastination, and the proper prioritization in line with our One Team goals.
Nate Anglin, in his blog on Schwab and Lee, commented, “What Lee sold to Schwab wasn’t just a list; it was the key to unlocking potential, one day at a time. It’s not the hours you pour in but what you pour into the hours that count.” In other words, you begin each morning with momentum, and in our society enamored with multi-tasking, focus is critical for accomplishment.
What was Lee’s payment? Schwab wrote him a check for $25,000. Fast-forward to the present day, with inflation, that $25K would be $559,758.47…