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LEADERSHIP
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One question has fascinated me my entire adult life: what causes some
people to become world-class leaders, performers and changemakers,
5 All 8 Ivy League schools will not
require standardized testing for
admissions next year
Despite having way more responsibility than anyone else, top performers
in the business world often find time to step away from their urgent
work, slow down and invest in activities that have a long-term payoff in
greater knowledge, creativity, and energy. As a result, they may achieve
less in a day at first, but drastically more over the course of their lives.
At the 2016 Daily Journal annual meeting, Charlie Munger, Buffett’s 40-
year business partner, shared that the only scheduled item on his
calendar one week was getting his haircut and that most of his weeks
were similar. This is the opposite of most people who are overwhelmed
with short-term deadlines, meetings, and minutiae.
Ben Franklin once wisely said: “An investment in knowledge pays the
best interest.” Perhaps the source of Buffett’s true wealth is not just the
compounding of his money, but the compounding of his knowledge,
which has allowed him to make better decisions. Or as billionaire
entrepreneur, investor, and philanthropist Paul Tudor Jones has
eloquently said, “Intellectual capital will always trump financial capital.”
1:56
This one ancient trick will make you a better decision maker
To build your own intellectual capital, here are six compound time
activities that you can start incorporating into your life immediately:
Ever notice that after writing about your thoughts, plans, and
experiences, you feel clearer and more focused? Researchers call this
“writing to learn.” It helps us bring order and meaning to our experiences
and becomes a potent tool for knowledge and discovery. It also
augments our ability to think about complex topics that have dozens of
interrelated parts, while our brain, by itself, can only manage three in
any given moment. A review of hundreds of studies on writing to learn
showed that it also helps with what’s called metacognitive thinking,
which is our awareness of our own thoughts. Metacognition is a key
element in performance.
2:39
These successful people share how to get more done in your 24-
hour day
Albert Einstein broke up his day by returning home from his Princeton
office at 1∶30 p.m., having lunch, taking a nap, and then waking with a
cup of tea to start the afternoon. Thomas Edison napped for up to three
hours per day. Winston Churchill considered his late afternoon nap non-
negotiable.
John F. Kennedy ate his lunch in bed before drawing the curtains for a
one- to two-hour nap. Others who swore by daily naps include Leonardo
Da Vinci (up to a dozen 10-minute naps a day), Napoleon Bonaparte
(before battles), Ronald Reagan (every afternoon), Lyndon B. Johnson
(30 minutes a day), John D. Rockefeller (every day after lunch), Margaret
Thatcher (one hour a day), Arnold Schwarzenegger (every afternoon),
and Bill Clinton (15–60 minutes a day).
Charles Darwin went on two walks daily: one at noon and one at 4 p.m.
After a midday meal, Beethoven embarked on a long, vigorous walk,
carrying a pencil and sheets of music paper to record chance musical
thoughts. Charles Dickens walked a dozen miles a day and found writing
so mentally agitating that he once wrote, “If I couldn’t walk fast and far, I
should just explode and perish.” Philosopher Friedrich Nietzsche
concluded, “It is only ideas gained from walking that have any worth.”
Others who made a habit of walking include Gandhi (took a long walk
every day), Jack Dorsey (takes a five-mile walk each morning), Steve
Jobs (took a long walk when he had a serious talk), Tory Burch (45
minutes a day), Howard Schultz (walks every morning), Aristotle (gave
lectures while walking), neurologist and author Oliver Sacks (walked
after lunch), and Winston Churchill (walked every morning upon waking).
Now we have scientific data proving what these geniuses intuited: taking
a walk refreshes the mind and body, and increases creativity. It can even
extend your life. In one 12-year study of adults over 65, walking for 15
minutes a day reduced mortality by 22 percent.
1:11 Top performers in all areas take advantage of this high-powered, low-
Marcus Lemonis
cost way toshares
learn. his top productivity trick
One big winner pays for all of the losing experiments. In a recent SEC
filing, he explains why:
“Given a ten percent chance of a 100 times payoff, you should take
that bet every time. But you’re still going to be wrong nine times
out of ten. We all know that if you swing for the fences, you’re
going to strike out a lot, but you’re also going to hit some home
runs. The difference between baseball and business, however, is
that baseball has a truncated outcome distribution. When you
swing, no matter how well you connect with the ball, the most runs
you can get is four. In business, every once in awhile, when you
step up to the plate, you can score 1,000 runs.”
No matter how much you read and discuss, you’re still going to have to
spend some time making your own mistakes. If that discourages you, just
remember Thomas Edison. It took him more than 50,000 botched
experiments to invent the alkaline storage cell battery, and 9,000 to
perfect the light bulb. But at his death, he held nearly 1,100 U.S. patents.
Experiments don’t just happen in the “real” world. Our brain has an
incredible ability to simulate reality and explore possibilities at a much
faster rate and lower cost. Einstein used thought experiments(imagining
himself chasing a light beam through space, for instance) to help
construct breakthrough scientific theories; you can use them to set your
imagination free on slightly smaller conundrums. The journals of Thomas
Edison, Leonardo da Vinci, and other luminaries aren’t just filled with
writing, they’re also filled with sketches and mind maps.
Jia Jang confronted the universal fear of rejection with his 100 Days of
Rejection project, which he then catalogued on YouTube. College grad
Megan Gebhart spent the first year of her career taking one person a
week out for coffee; she compiled the lessons she learned in a book
called 52 Cups of Coffee. Filmmaker Sheena Matheiken wore the same
black dress every day for a year as an exercise in sustainability.
In a world where frantic work is the focus, top performers should focus
deliberately on learning and rest. In a world where artificial intelligence
is automating more and more of our work, we should unleash our
1:04 creativity. Creativity is not unleashed by working more, but by working
Legal Sea Foods CEO: Develop a ‘maniacal’ focus on quality
less.
• Ruthlessly remove the busy work in order to rise above incessant urgent
deadlines, meetings, and minutiae.
• Spend almost all of his time on compound time, things that create the
most long-term value.
• Tap dance the work because he leverages his unique strengths and
passions.
This lifestyle may not happen for you overnight, but in order to leverage
compound time, you first need to believe that a lifestyle where you work
less but accomplish more is possible and beneficial; that a lifestyle
where you ruthlessly focus on your strengths and passions is not only
feasible, but necessary.
To get started, follow the 5-hour rule: for an hour a day, invest in
compound time: take that nap, enjoy that walk, read that book, have
that conversation. You may doubt yourself, feel guilty or even worry
you’re “wasting” time… You’re not! Step away from your to-do list, just for
an hour, and invest in your future. This approach has worked for some of
the world’s greatest minds. It can work for you, too.
Don’t miss: Mental coach of 3 top NBA draft picks shares 7 ways you can
1:28
thrive under pressure
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