|MOBE Daily #70|
“Working on the right thing is probably more important than working hard.”
~ Caterina Fake
What’s the most profitable thing you can do each day?
I’ll tell you.
It’s dreaming up new funnels, products, company’s, unique selling propositions, and ways to dramatically increase revenue and profitability of the business’s you currently own.
This all starts with your thoughts, and putting aside the time to think ‘deep thoughts.’
If your mind is constantly pre-occupied with little things – with responding to text messages, clicking the red notification icon on Facebook, or seeing who liked your photo on Instagram… then you’ll always be thinking shallow thoughts.
Reactive thoughts that use very little of your brains awesome power.
There’s a huge opportunity cost with spending too much time in this state.
People usually think of opportunity cost in terms of time; “what could I be spending my time on instead of the current activity, which would have a bigger pay off?”
But there’s a very expensive opportunity cost involved in thinking shallow thoughts too.
For the 5 hours you spend in a reactive mode, trying to make your way through a task ‘to-do’ list, you could have spent that same time coming up with one brilliant idea which might have increased this months’ sales by 20%.
This is not something I came up with by the way.
Many of the world’s most successful business people understand the value of deep thinking.
Bill Gates for example, at the height of Microsoft, would often take ‘Think Weeks,’ where he’d disappear for a week staying in a remote location. Employees, friends, and even family were strictly banned.
“Twice a year, I get out of the office, breaking from my normal routine, for much needed ‘Think Weeks.’ By actively disconnecting and looking at everything from 50,000 feet, I am able to effectively reflect, reset, and clearly rethink my goals and aspirations…”
Here’s an excerpt from a great article by Mark Ford about this practice, explaining what Gates does:
“Turns out that what Gates does during his away time is not so remarkable: He spends 15 hours a day reading newspapers, magazines, and company reports. Except for a caretaker who brings him two meals a day (lunch and dinner – typically something like a cup of clam chowder, a grilled cheese sandwich, and a diet Orange Crush), he doesn’t see anyone – even his wife. He sleeps in a small bedroom that takes up a corner of the cottage and shuffles around all day, reading and taking notes. Gates is searching for ideas about trends – trends in digital communications, advances in microprocessor “clock speed,” digital photography, and so on.”
It might sound difficult (and even boring), to be completely unplugged from the world like that for so long.
But, this allows Gates to think truly important thoughts that will impact his company and life for many years to come, away from all the busyness and chaos inside the office.
If a billionaire with as much responsibility and as high a workload as Bill Gates is willing to make the time for this activity, then maybe you should consider doing something similar.
Personally, I don’t currently do anything as extreme as Gates does, but I’m certainly open to the idea. The bigger MOBE becomes, the more I feel the need to do this.
My current version of ‘Think Week’ is a little more tame.
I have a notepad document on my laptop called ‘The Future Of MOBE,’ and from time to time, I’ll turn off my phone, my wifi, go to a restaurant or Starbucks (or do this all during a long flight), and I’ll just write out my ideas.
At the top of the page I’ll write something like:
“What are the 10 most important, high-leverage things needed to get MOBE to the next level?”
And then I just write.
Most of my ideas will be mediocre.
But every so often a brilliant idea will come along, and after implementing it, my company grows substantially. I’m talking 50% or more growth in a matter of 3 or 4 months.
If you had just 3 brilliant ideas like that every few months which produced that kind of growth, you’d triple the size of your business within a year.
Something to think about.