The Art of Doing Less
| June 13, 2012 | Posted by Roshawn Watson under Uncategorized |
Image Credit: RLJ Photography NYC
By: Roshawn Watson
One of the reasons that the rich get richer is because they are proficient in doing more and more with less and less. Their ability to extract the best out of their portfolios, businesses, and other assets, even in cases of limited capital, speaks to their mental leverage and ingenuity. I find this interesting because sometimes we create artificial barriers to our success. We claim that we are on the right paths and that we’re “judicious with how we spend our resources, yet circumstances prevent our success. While this may be true, I’m constantly blown away by people who eliminate the excuses and produce anyway. At the end of the day, whatever you presently have, you have traded your time for. You have to decide whether it was a fair trade. You have to determine whether you would like the assessment of the sum total of your life. Should you be getting more bang for your buck, time, or other resource? In this article, we will discuss how you can have a lot more with less by visualizing your future, determining your core contribution, and investing in yourself.
What You See Is What You Get
You only qualify for a future that you can see. Unfortunately, what you see is shaped by your context. According to Stephen Covey, most people have a scarcity mentality. This paradigm is deeply rooted in the fear of lack. It says that there is only so much available, so I have to make sure that I get mine. If your pie slice is too large, that means there is less available for everyone else. There are always losers with scarcity mentality. People with this paradigm tend to be petty and stingy and rarely praise someone else, regardless of his or her contribution to their successes. Fortunately, there is more than a single pie! Abundance mentality is diametrically opposed to scarcity mentality. It originates from a deep sense of “personal worth and security.” It says there is plenty more laid up in store, so there’s no need to be so territorial. We can all win.
Related Article: Why The Rich Get Richer
Think you can or think you can’t, you’re right either way.
Your paradigm is not trivial. It will literally frame the rest of your life. It will determine whether you become a giver or a hoarder, whether you need to be the star or can function as a team player, whether you stick with a lengthy job search or throw your hands up in despair, and whether you pursue an ambitious career path or settle for mediocrity. Having an abundance mentality means that you see opportunities when someone with scarcity mentality sees challenges. It determines your hope and ultimately your success.
Choose Your Paradigm
Fortunately, you can choose the lens that frames your life. Tony Robbins illustrated this point masterfully with the following story. A gentleman grew up and had an average life but fell on tough times. He began to use alcohol and drugs as crutches. In a moment of despair, he robbed a convenience store both to get more alcohol and drugs and to provide for his family. During the robbery, the proprietor of the store made a sudden movement, and the robber instinctively sprayed bullets. The store owner was fatally wounded. The shooter went to prison. At the time, his 2 sons (2 years apart in age) were very young. Someone decided to check in with the 2 sons when they were in their early thirties. One son was a successful salesman and had 3 children of his own and a happy family. The other son turned to alcohol and drugs and robbed a little store, much like his father. This time, no one was killed, but he had a gun, was eventually caught, and ended up in prison.
Related Article: Through the Looking Glass
They were each asked “how do you explain where you are in life at this particular time?” Both sons, without a talking to each other, answered almost identically. The successful son said “with a father who was in prison, I had a perfect role model of what not to do. I chose to create a different life.” The second son said “with a father who ended up in prison as a role model, how could I have done anything differently?” Both brothers cited their father as the reason for their lives ending up the way they did, yet their lives were vastly different. Likewise, we can choose how we respond to life’s circumstances by consciously choosing the paradigm of abundance. The circumstances don’t determine your future. Your responses to them do.
Determine Your Core Contribution
Another aspect of doing more and more with less and less is determining your core contribution. Most of us are poor multi-taskers. For many, balance is an illusion. That doesn’t resolve us to a dichotomy of either adequate provision or a fulfilled life. Let explore three case studies of people whose lives were (are) not defined by what most would consider production, yet by focusing on their life’s passions predominantly and making money secondarily, they were still able to carve out better than average (understatement) existences while leaving a distinctive body of work.
Case Study 1: Henry David Thoreau
“The cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.” Henry David Thoreau
Philosopher Henry David Thoreau had some fascinating insights on the value of the items we buy, particularly with respect to our lives. He believed the things we buy don’t just cost money, they cost us time, effort, and sacrifice. They cost us our lives. Thus, he was particularly careful with how he expended his resources. In fact, he devoted just six weeks a year to earning income. During that time, he produced enough income to thrive for the rest of the year. The overflow from his abundance during that period was enough to sustain him. The rest of his time was spent researching, thinking, wandering, and writing.
I am convinced, both by faith and experience, that to maintain one’s self on this earth is not a hardship but a pastime, if we will live simply and wisely. Henry David Thoreau
I believe one of the most powerful takeaways from his philosophy is that we should think more carefully about the true costs of our purchases and even our work. When you purchase finance that car over the next 4 years, ask yourself if it was worth 4 years of your life? When you toil 48 to 50 grueling weeks working every year, are you more fulfilled or merely receiving a paycheck? Obviously, he lived during a different time than us, so you may wonder whether his model is reproducible today, which brings us to the following two examples.
Case Study #2: Rick Warren
Popular author and minister Rick Warren is a modern day example of someone who is not overly dependent on earning income (traditional production). His seminal work, Purpose Drive Life, sold in excess of 30,000,000 copies as of 2007 according to Publisher’s Weekly. For years, he has lived on a tiny fraction of what he earns in royalties, and he returned 25 years of salary to his ministry and reportedly hasn’t received a salary from it in years. He gives away a whopping 90% of his income. Hmm, does that sound familiar? Thoreau thrived on working a mere 12% of the year (6 weeks), just as Rick Warren can thrive on 10% of his income.
Case Study #3: Jim Collins
Another person who has embraced doing more with less is business consultant and author Jim Collins. His New York Times profile indicated that he spends 53% of his time on creative, 28% on teaching, and 19% on other endeavors. When compiling his research into a book, he enters into an intense “monk” mode, where he writes 7 days a week. On days where he has a fit of inspiration, he estimates that he may write a single page a day on average. Each of his books is a $500,000 project, taking several years to complete. He elects not to do book tours.
Based on his level of output, compared to prolific authors such as James Patterson, you may think that he is not producing enough. However, he is embracing how he works and has achieved success in his own right. He has sold a combined total of over 7 million copies of Built to Last and Good to Great alone. He is in the top echelon of public speakers, receiving upward of $60,000 at a time. Not only does he turn down numerous requests (does fewer than 18 speeches per year), but he asks attendees to come to his facilities. Like Thoreau, he is not dependent on constant production, in the traditional sense, to sustain his lifestyle.
Now, fortunately, I can probably spend the rest of my life picking any question I want to, regardless of whether it will be profitable. Jim Collins
Related Article: Authenticity in the Workplace
As illustrated by all three case studies, your financial success doesn’t have to be defined by constant production. Through proper development of your core competencies and management of your personal finances, you can write your own ticket. The irony is that by zoning in on what you do best and your passions, you stand to make your biggest financial gains. These are all men who appear obsessed with leaving an indelible mark with their bodies of work.
Maximize Your Time
I hope you’re convinced to get more and more from less and less is not as simple as simply increasing production. Instead, we need to invest more time in production capacity. This requires what Stephen Covey called “sharpening the saw.” The principle is central to our renewal and longevity. Covey went on and called this “the single most powerful investment we can ever make in life-investment in ourselves, in the only instrument we have with which to deal with life and to contribute. We are the instruments of our own performance, and to be effective, we need to recognize the importance of taking time regularly to sharpen the saw…” This is undoubtedly what Abraham Lincoln meant when he said…
Give me 6 hours to chop down a tree, and I will spend the first 4 sharpening the axe. Abraham Lincoln
Sharpening the saw concerns itself with making daily deposits in the mental, social, physical, and spiritual spheres of life. The thought is that when you are operating from abundance in these areas, you will be able to outperform what you could have done if you were unprepared and/or exhausted . Henry Ford famously drew a distinction between “busyness” and “productivity.” Flurry of activity doesn’t equal productivity. He felt that only the person who has the luxury of time could originate a creative thought. Don’t devalue what YOU bring to the table by ignoring your production capacity. I have said it numerous times, the best gift you can give others is often a better you.
Related Article: Why Do We Save Anyway
Closing Thoughts
On a very visceral level, whenever I think or write about this topic, I am affected. I can’t help it. It immediately causes me to re-evaluate my priorities and output. As much as I love my to-do lists and systems of organization, it is unwise to assume that things cannot be improved significantly. As I reflect, I wonder: “what am I missing?” “what could I do if I valued my future over the latest episode of Law and Order: SVU?” I invite you to do some self-reflection as well.
Yesterday is in the tomb, but tomorrow is in the womb, so what future do you see?
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Why The Rich Get Richer
Authenticity in the Workplace
Why Do We Save Anyway
Through the Looking Glass
Image Credit: RLJ Photography NYC
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Love this post! Particularly the part where you mention that your circumstances don't determine your future, your reactions to them do. I've always lived by that belief. I've tried to learn from other people's mistakes so that I wouldn't make the same ones, even as a teenager. It kept me out of trouble and I'm glad I had that mentality, but it's always important to remind oneself that having the right attitude is important.
Thanks so much Daisy!!!! That's very insightful. That's my preferred way of learning too: other people's mistakes. I'm glad it has proven to be a successful strategy for you.
The right attitude is key as well. Cheers!!!
I love your three examples. I would love to work 6 weeks out of the year and spend the rest of the time on life.
I am not attracted to fame or fortune. I just want to live a comfortable life and enjoy it as much as we can. I don't mind having less money. I'd rather look back when I'm old and be able to say I had a fun happy life.
Thanks so much Joe.
The 6 weeks example was pretty significant in my mind. It's hard to even contemplate in our society hence why I provided other examples. I certainly don't have an aversion to work (I'm not suggesting that you do), but I certainly feel like I can do better with what I have. I can only imagine what you would do in that 6 weeks if you knew that's all you could do for the rest of the year to earn income.
I agree, your response to your circumstances will determine your future. I responded very differently than expected to a negative environment and turned out very positive in outlook. Success followed!
That's exactly why you're successful. You knew how to navigate the challenging times. You exercised courage. You weren't dominated by your circumstances. I'm actually have another screen on your site right as I am typing this. I'll head on over to leave a comment. 🙂 Cheers!
I agree that sometimes it is about working smarter, rather than what you might call "working harder."
Yeah, sometimes if we would just spend a mere 10 minutes in planning, we could increase our productivity by at least 10%. Just think of what we could accomplish if we spent more… For example, suppose we had Jim Collin's time ratios.
I"m with you on reexamining my priorities. I enjoy that examination. sitting down and working through my strengths and weaknesses itself I feel is sharpening the saw. Maybe it's even more than that. Spending time deciding which piece of the saw should be sharpened is itself a worthwhile act.
I'm glad you enjoy examination. Sharpening the saw is such an important aspect of our development, and it can become the trajectory to great things.
Such a well-written post, Roshawn. I still have so much work to do in this area. Even though I'm doing great at being frugal and climbing out of debt, my mindset is still wrong. I don't dream about getting out of debt in order to be able to save even more; I dream about having more money to spend and to be stupid honestly. I am being completely honest here. I know that *most* rich people are that way because they've learned how to save and how to live on less, but I can't help but to dream about my future as if I'm going to one day be a Real Housewife with all kinds of extravagant belongings. It's so silly. I'm hoping that since we are so new to this super frugal lifestyle that my mindset will change and I will learn to appreciate all the "riches" that I already have. Thanks for the thought-provoking post that's making me take a look at what's really important in life. Also, so funny the part about the two sons. My husband is a product of a workaholic father who rarely even had time to throw around a ball with him and his brothers. Because of that, Jeff is the best father in the world! He says it all the time, that he learned how to be a good father by watching his dad fail. (I hope Jeff's dad never sees this! But really…maybe he should?)
-M
Thanks so much M!
We all have work to do in this area. Jim Collins is absolutely obsessed with it. I think that obsession has served him well. I think dreaming of a day where lack or even desire of something else is a distant memory is not a bad thing. I have no problems with materials. I have a problem when materials have you. You shouldn't feel bad for wanting more. That's natural. What shouldn't be natural is going into debt to achieve the lifestyle of your dreams. What shouldn't be natural is not funding the kids' education but vacationing in Maui and Italy for January and June, respectively. The point is if priorities are misplaced, we have a problem. However, if you build wealth through frugality and increasing your earning potential, I thin you will be just fine! You'll have to master the person in the mirror before you build a substantial sum that way, so the journey itself will make sure that you're right.
"Henry was not a hermit at Walden Pond.
This is a myth that dies hard. Thoreau regularly had company at Walden – both welcomed and unwelcomed. He also walked frequently into Concord, the town’s center being only a couple of miles away. In fact, he frequently ate at his mother’s or Ralph Waldo Emerson’s table for Sunday dinner. He also took his dirty laundry home to mom! http://suite101.com/article/the-littleknown-henry…
I would comment that it's less expensive to live if someone is subsidizing your expenses…..
Hey RW,
I've missed your voice!
It is okay that he wasn't a hermit. I recently heard the story about his income earning and new that I needed to share it. I think it was clear from my readings that he embraced his time off of work. I thought that there was much value in his teachings even at a practical level, such as not wanting to spend 4 or more years of your life paying for a car… It's just not that worth it! Thanks so much for sharing the story, and your last point is right on the money "it's a lot less expensive to live if someone is subsidizing your expenses." Great hearing from you as always! Cheers!!!!
This is something my hubby and I are working on right now. No matter how hard we try we still seem to feel like we are too busy. It is definitely going to take a while to perfect this and feel more balanced.
Hey Miss T,
Yeah, true balance is very difficult to achieve. Some people no longer believe in it. I do know that it is a journey rather than a destination. We're constantly changing, so does our priorities and the "right" balance.
We get way too caught up in the daily junk that we miss the big picture and narrowing down on the simple things that really matter. I definitely agree that thinking (or in your case writing) about this regularly can make a HUGE difference in your life. Good stuff.
Thanks so much Nick. Yes, the daily hustle provides lots of interesting distractions. It easy to lose you, and what makes you tick. It is quite tragic! I think by reminding ourselves of what is really important, it immediately prioritizes the rest of our lives… and takes some of the fog away from some decisions. Thanks for the comment.
I really, really enjoyed this article, Shawn. You may have noticed that I appreciate a good debate. This time I can just say – yep, spot on. In fact, slightly over a year ago I wrote a piece on the scarcity vs abundance mentality; have been experimenting with achieving more with less (apart from all else I just finished a very large and complex academic project on impact). You just made me think about all that some more. Thank you.
Thanks so much Maria. Yes, you certainly enjoy a great debate, and that's great. I enjoy spirited conversation as well. Agreement is nice, but growth from agreement appears limited. Thoughtful and respectful conversations where counterarguments are brought up can be both engaging and fruitful, so thank you for improving me by sharing your opinions.
I'm so glad you enjoyed the article. You are welcome! Cheers 🙂
You touched on many great points Roshawn. I've been a believer in this philosophy for a while. It applies to so many areas or life. When you accomplish what you need to with the least amount possible (energy, money, time, etc.), you're left with more resources for other things.
Thanks so much JW. Your answer reminds me that Pareto's principle is alive and well. I appreciate your comment.
Good stuff, as always, S. I've made great progress in this journey, but have a ways to go. I find the busier I am helping others, the less "stuff" I feel I need or miss.
Thanks so much! That's an awesome observation. We definitely have a way to go as well. Thanks for sharing!
I really like the story about the two sons – perspective has everything to do with it. I know a pair of brothers who had a philandering father; one has gone on to be a stable family man, the other son has become a playboy. They both point to their father for explanation.
Hi Elizabeth,
That's an awesome example. It is amazing how we can go with through the same experience but interpret things differently. It really depends on our perspective/worldview. In some ways, I find that so empowering.
You have knack to put engaging stories together to convey a bigger message. I believe that you can't change circumstance, but you certainly can change how to react to it.
Thanks so much Shilpan. I love stories. It's what draws me into a concept. At my heart, I'm a teacher 🙂
Ever seen a very rich person spend the full day behind their computer day trading the stock market? No way. They take a long-term approach, spend less time on managing their money and get better returns. A different paradigm.
Great point Van Beek. I agree that a long-term approach is not only more prudent, but it is what typically produces the best results. It is the tortoise not the hare that wins the raise everytime.
Sometimes lack of work is NOT all it is cracked up to be. My husband became ttally disabled several years ago nad he has found that not being able to do anything physical is a bigger burden than when he was able to work. Yes, sometimes the work was hard and tedious…but at least he was able to be active. There is nothing wrong with his mind–he is vwry intelligent–but he has become depressed because he is trapped in a body that doesn't allow him to work. There is only so much TV, computer games, books on kindle a person can stand. He has so much leisure that he is bored. He is trapped in his own body and would gladly trade places with anybody who is able to work. Retirement is not all it is cracked up to be! Oh by the way he is only 56 and has been totally disabled since he was 45. He hates it–he wants to work! So, sometimes circumstances do make the attitude. Yes, he knows there are some who are worse off and he tries to be accepting and cheerful, but how would you feel if your mind was active and you had no way to show what you could do?
Joan, I am so sorry about your pain. As someone with a family member that was disabled in her 40s, I do understand where you are coming from, perhaps better than many. The family member seriously wanted to work, and everything changed after the accident. EVERYTHING. It is very hard to understand unless you (or someone you love) have been through it. It is particularly painful. I found myself being even more sensitive to certain things, such as carrying disability insurance than my counterparts because of the experience. Thus, while every situation is unique, I want you to know that I do have a frame of reference and can empathize with your situation. I can also understand why this post triggered a nerve. Let me assure you. I am NOT anti-work. To the contrary, I am very pro-work. However, I don't necessarily believe that we should be lax about having the ability to retire. I think even if you work into your 90s, that's great, but you should place yourself in a position to retire as soon as possible, so that you can decide your destiny instead of corporate projects, a disgruntled boss, an unexpected circumstances. I think the reason why this post is very important to me is because it reminds me that hard work is not the same as smart work. We can spend 40 years trying to get somewhere that we could be in 5, provided that we know what we're doing. I'm not suggesting a life of leisure (although I am not anti-leisure) as much as I am asking for us to rethink what we call a productive life. Thank you so much for your comment. Please feel free to write me anytime.
@Joan, sorry to hear about your husband. For a young man to be in that situation is terrible. I used to dream escapist dreams about retiring early but I've begun to re-evaluate that as I see that even my 89-year-old mother chafes at having no steady
occupation now that she can no longer physically do what she used to. I now value work highly and hope to be able to work
at least part-time for as long as I can. It seems like we boomers will have to anyway, so we might as well start embracing the idea! But I do feel for those who are forced to leave work due to disability. My father was also disabled.
Thank you so much Nebula for responding to Joan! Like you, I hope to work, at least part-time, for a VERY long time. I'm not saying my work will be the same as what most people consider work, but it will be fulfilling.I can definitely empathize with people who are disabled, particularly those who were disabled at a young age. Congrats to you on your positive outlook: something that some would consider a negative, you have re-framed as a positive.
There are so many good points in this article that I don't know where to begin. Covey's 7 Habits is one of the best books I've read, and you're spot on with the paradigm discussion. So many people mistakenly think that life is a zero-sum game and that if someone else achieves success, then there is that much less success available for other people. These people are always jealous of the success of others and party blame them for their own failures, which is totally ridiculous.
Thanks, and yes I resisted reading 7 Habits because too many people endorsed it, and I didn't just want to join the fad. In retrospect, I only hurt myself. The book really is that good. (disclaimer, I was very familiar with the seven habits before I ever read it because the teachers taught out of it soooooooo much). Anyway, the scenario that you mention is sad yet real. Some get so upset that other people get it and leave them behind that they allow "ridiculous" limiting beliefs to blind them from common sense. It is a sad form of rationalizing.
[…] Watson @ Watson Inc writes The Art of Doing Less – Should you be getting more bang for your buck, time, or other resource? Here’s how […]
Its all about working smarter in my opinion. You can work all day every day of your life but unless you work smarter you won't be all that much better off.