About two weeks ago, I read an article that spoke about Warren Buffett and his keys to investing. In the article it talked about Mr. Buffett’s “20-slot rule” and how this one simple rule can help to change your life. Warren says that he can:
“Improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches—-representing all the investments you got to make in a lifetime. And once you had punched through the card, you couldn’t make any more investments at all…Under those rules, you’d really think carefully about what you did and you’d be forced to load up on what you’d really thought about. So you’d do so much better.”
This is a great way to considering investing but, one way that I’ve used it in my business to really help me, is to change those slots into money-making tasks instead of investments. Right now, if you are anything like me, you are probably doing a lot of extraneous things throughout your day thinking that if you multitask it will help you get them done quicker. In fact, it has been proven that people are much more productive if they focus on one task at a time until they complete it then move on to the next. I have been very guilty of the multitasking mentality and after thinking about Mr. Buffett’s “rule” and applying it to my daily tasks in my business, I have found that I get much more done in day when I set up these “slots” for my day. For myself, I like to limit myself to 15 tasks a day. This makes sure that due to my busy schedule, I don’t fill my day with extraneous, non-moneymaking activities. I save those for after my work day is over and I’m at home.
I encourage you all to give this a try, if you think you can’t possibly do 15 slots a day, try the 20. I truly believe that you will find your day becomes more productive. Let me know how it works out for you!
P.S. In case you read my first post and are wondering why I’m posting on a Tuesday, I’ve just been really excited to share this technique that has helped me out!