Three Optimization Tactics
Part 1: Burning Time & Your PTV (Personal Time Value)
Every human on the planet has a value associated with their time. This includes everyone—from the gold-cufflinked Fortune 500 CEO orchestrating a conference call in his Gulfstream G550, to the destitute, drug-addicted homeless man gathering cylindrical tender in a forest of steel and concrete.
The chart below illustrates some typical tasks that can chew up minutes per day that compound to hours per year of your crucial hunting time. Below are some examples:
As I illustrated in the chart above, multiple tasks appear mundane and a part of “every day at the office,” but if you are self-employed/commission-only, how you effectively accomplish day-to-day activities will significantly affect your income.
My dad used to say that a lot of people in business have their MBA and never work—when people asked, he would say in a jovial manner, “management by wandering around,” or letting others do the work while the MBA guy chats with everyone. He was attuned to the business culture and realized that many people linger and aren’t adding any tangible value to their organizations. It’s ironic because he was completely supportive of my education and my MBA from Crummer/Rollins because he believes in knowledge, work ethic, and he doesn’t like people who float, linger and just skirt by.
In the salaried world, there is a small minority of the inherently sluggish who sleepwalk through their workday because their quasi-Marxist mindset rationalizes reliability and a steady paycheck from their overseer, regardless of how much they contribute to the organization. For those in the commission-only realm, we implicitly have to split our fees, whether as Principal or Broker.
In these scenarios, the sycophant is usually a partner at work not contributing or the Principal of your company not providing any real support, but has no problem spending your hard-earned dollars on expensive hobbies or lavish adult toys.
Once the job is landed, a new employee must be attuned to their surroundings, culture and implement processes and procedures for ultimate success. This process is similar to training for an individual athletic event such as but not limited to speed walking, equestrian dressage, table tennis, etc. Curling, a sport I consider extremely grueling and mentally exhausting, is an excellent way of honing strategic targeting skills.
You must train your mind, the way an athlete trains their muscles, to repetitively apply techniques that may be difficult or hurt in the short run, but will make you an influential producer over time. To truly reach your potential and capitalize on opportunities, it’s crucial to establish a track record of productivity through repetitive implementation, which leads to execution, which leads to wealth generation.