Whether you're in business, dentistry, research, writing, media, or law, at some point in your profession, you need to organize your daily work to accomplish your career goals. The myth of working hard for eighteen hours a day has been demystified long ago, and it is now widely recognized that to be productive, you only need to be efficient and outcome-oriented in your work. Being efficient and productive depends on how smart and skillful you are in utilizing tools that can enhance both the quality and quantity of your work. This book offers many such tools, but I would like to focus on ten key things one should follow to become more productive and efficient:
1. Quantify your goals:
You cannot manage something that you cannot measure. Hence, it is very important to quantify your goals. Quantifying the goals gives you direction and helps you figure out the starting point and ending point. Quantifying sounds like: How much weight do I need to lose? How many books do I want to read? How much money should I save?
2. Break complex tasks into simple components:
If you master the art of breaking down complex tasks into simpler ones, you will not be overwhelmed by the enormity of the work you need to put in for longer hours. For instance, if you want to write your PhD thesis within a stipulated time of six months, you must consider writing one chapter each month. Furthermore, if each chapter consists of fifty pages, you must be willing to write at least two pages a day for the month as your first draft. One of the key benefits of breaking down complex tasks is their ability to transform into a habit. I developed the habit of reading fifty pages of a book every day through this method.
3. Prioritize:
There are two essential tools that can be used to prioritize your work. One is the Eisenhower matrix, where you can categorize tasks into urgent-important, urgent-not-important, not-urgent-important, and not-urgent-not-important. The other tool is the 80/20 principle, where you find out the key 20% of input that gives 80% of outcomes. For example, in business, 80% of your revenue or profits will come from 20% of the customers, and hence, you can focus your time more on this minority. This principle applies to every domain of your work, and it needs careful attention to figure out that 20%.
4. Make a checklist:
I was deeply influenced by Atul Gawande’s book ‘The Checklist Manifesto’ when I read it in 2016, and ever since then, I have been making a checklist every single day of my life. A checklist will help you structure your day, and when you fulfill your desired tasks as marked in a checklist, at the end of the day, you will feel you were in control. A checklist also helps you overcome forgetfulness and carelessness.
5. Utilize technology:
One thing I started doing this year to reduce screen time is converting my speech to text whenever I am writing articles, book reviews, and documents. For documents that need multiple reviews and corrections, we switched to Google Docs and Sheets instead of sending emails back and forth, enabling multiple participants to work on the same documents at the same time. Artificial Intelligence can now check your grammar, fix the flow of content, find references and citations for your work, and help you debug codes. Use them wisely.
6. Balance between generalization and specialization:
How I find interest in reading anything and everything, from sociology to economics, despite working in a completely different field, is a question I am often asked by people. A few years ago, I read Isaiah Berlin's essay titled "The Hedgehog and the Fox," which changed my life. To strike a balance between generalization and specialization, I follow this method: imagine a 'T.' The top horizontal line represents all the areas we're interested in with a solid foundational understanding of fundamentals. The bottom vertical line represents the one thing we want to specialize in. We must broaden our general interests and deepen our special interest. As a lifelong learner, we can keep expanding our T. "The fox knows many things; the hedgehog knows more about one thing." In many cases, it may be advantageous to be both a fox and a hedgehog.
7. Become a subject matter expert:
Expanding the T will also eventually lead to becoming a subject matter expert in your field. You can monetize your expertise in many ways: by becoming a tutor for online courses, being a consultant for a firm, writing articles and eBooks, and offering lectures and seminars at universities.
8. Don't be a donkey
“Don't be a donkey” is an allusion to the fable of Buridan’s ass, which describes a donkey standing halfway between a pile of hay and a bucket of water, unable to decide which to go to first. Eventually, the donkey falls over and dies of both hunger and thirst. The point is that a donkey can’t think of the future. If he did, he would realize that he could go first to drink the water and then eat the hay. “Don’t be a donkey” is a reminder that you can do everything you want to do, but you need to focus on one thing at a time to make progress.
9. Manage Risk:
Risk management is not something that is exclusively employed in investing alone. It is important to apply risk management in all aspects of life. In an interview, Charlie Munger revealed that his grandfather always advised him: swim as long as you want but always stay near the shore. We tend to follow the crowd with our 'herd mentality' and try to emulate others without understanding our own risk appetite. A simple question to ask yourself to understand your risk appetite is: Can I sleep peacefully at night if what I am about to engage in goes wrong? This one question has saved me many times and helped me rationalize many aspects of my life.
10. Share, outsource, and incentivize:
One simple lesson I learned during my PhD was that you do not need to do every single thing on your own to accomplish your goals. If you are only good at writing and conducting experiments, do not hesitate to assign sample collection to a technician, and outsource data analysis to a statistician with an incentive of assigning them as co-authors for your publication. Similarly, if you don’t have the time to analyze individual stocks and invest in them, hire an accredited investor or AMC to invest your money for a fraction of the cost. Trying to be a jack of all trades will only lead to being a master of none. This requires swallowing your ego, accepting your weaknesses, and focusing more on your strengths.