Jim Collins, the author of the business classic Good to Great, was once told by Peter Drucker that he could either build a great company or build great ideas but not both. Jim chose ideas. As a result of this trade-off there are still only three full-time employees in his company, yet his ideas have reached tens of millions of people through his writing.8
author (born 1977)
Greg McKeown, (born in London, England, in 1977) is a public speaker, business thought leader, consultant, and a New York Times and Wall Street Journal best-selling author. He is also the founder and CEO of THIS, Inc., a leadership and strategy design agency in Silicon Valley. McKeown is a popular blogger for the Harvard Business Review and LinkedIn’s Influencers group, and his writing has appeared in, or been covered by, Fast Company, Fortune, HuffPost, Politico, and Inc. Magazine.
From: Wikiquote (CC BY-SA 4.0)
Why are adults so much more vulnerable to the sunk-cost bias than young children? The answer, he believes, is a lifetime of exposure to the “Don’t waste” rule, so that by the time we are adults we are trained to avoid appearing wasteful, even to ourselves.8 “Abandoning a project that you’ve invested a lot in feels like you’ve wasted everything, and waste is something we’re told to avoid,” Arkes said.9
The best asset we have for making a contribution to the world is ourselves. If we underinvest in ourselves, and by that I mean our minds, our bodies, and our spirits, we damage the very tool we need to make our highest contribution. One of the most common ways people – especially ambitious, successful people – damage this asset is through a lack of sleep.
The only way out of this trap is to learn to say no firmly, resolutely, and yet gracefully. Because once we do, we find, not only that our fears of disappointing or angering others were exaggerated, but that people actually respect us more. Since becoming an Essentialist I have found it almost universally true that people respect and admire those with the courage of conviction to say no.
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At one point, we had become concerned with how much screen time had crept into our family. Between television, computers, tablets, and smart phones it had become just too easy for the children to waste time on nonessential entertainment. But our attempts to get them to change these habits, as you can imagine, were met with friction. The children would complain whenever we turned the TV off or tried to limit their “screen time.” And we as the parents had to consciously police the situation, which took us away from doing things that were essential. So we introduced a token system.9 The children were given ten tokens at the beginning of the week. These could each be traded in for either thirty minutes of screen time or fifty cents at the end of the week, adding up to $5 or five hours of screen time a week. If a child read a book for thirty minutes, he or she would earn an additional token, which could also be traded in for screen time or for money. The results were incredible: overnight, screen time went down 90 percent, reading went up by the same amount, and the overall effort we had to put into policing the system went way, way down. In other words, nonessential activity dramatically decreased and essential activity dramatically increased.