Do you know what you have in common with Elon Musk, Steph Curry, Jeff Bezos, the Dwayne Johnson, Oprah Winfrey and JK Rowling? You all have the same number of minutes as you like each day.
Twenty-four hours in a day multiplied by 60 minutes gives us all 1,440 minutes – give yourself adequate time to sleep, eat, shower, and hug your children and you have 1,000 minutes. You can use your minutes to take on the world and make buckets of money, write books, train for a marathon, hang out with family, have a drink with friends, buy groceries, meditate, do laundry, Netflix view or post pictures of you dog on Instagram.
Every day you wake up to a new 1,000 minutes in your time bank. You are the CEO of this bank and how you use these protocols is entirely up to you. You are as rich in time every Monday as Oprah and actually the richest man in the world.
You can no longer imagine your time as free. Big you – successful you – know that time is expensive, and if we think about our time, how we do our money, we can change the way we think so that we don’t throw it away. You wouldn’t throw away $ 100, would you? That’s exactly what you do with an hour and a half when you’re not productive. You’re basically throwing your income out the window. Goodbye money.
The clock starts ticking as soon as you wake up. If you don’t know how those precious minutes are being used, all of a sudden it’s 9:00 PM and you’ll be wondering (again) why you couldn’t find the time to call back all of your customers or track the new contact you made last week have made.
- The day passed me by.
- Such a busy day, I’ll do all of this tomorrow.
Sound familiar? That’s because some common minute killers are sneaking around trying to bankrupt our time bank right under our noses, often without our even knowing it. By learning to identify and destroy these tiny killers, you can take control of your day, maximize your time, and make more money.
Minute Killer: The Perfection Trap
I like to be the first at work. If I were to roll around 11 a.m., sit back and have a breakfast burrito while listening to a podcast, it sends a clear signal to my team: no rush here. Just show up whenever you want.
One day I arrived around 7:30 am (after my daily training) and found one of my team members already at their computer, hard at work. Good for you. I answered my emails and then was free with appointments for a long day. When I got back to the office around 6:30 p.m., it was exactly where I left it. The expression of concentration on her face was intense – as if she was trying to split the atom. I returned calls, answered emails, and had a meeting. When I finally got ready to leave at 8 p.m., she still typed away angrily. What had she been doing all this time? I wondered. She has to write a script at work. I had to ask.
“Hello. You worked so hard all day. How are you?” She took a deep breath. “Yes. I just really want to get this email to a customer perfectly, so I’m working very hard on it. I’m pulling as much data as possible. I research all of them. I have to convince them that I’m right.”
I couldn’t have been more shocked if she’d just told me she was an alien from another galaxy. She wrote and rewritten the same email all day?
While I appreciate the desire to send flawless communications, it doesn’t matter how perfect something is if you don’t get results. And how can you get results if you spend 12 hours on a basic task? That’s 720 minutes. That’s a lot of time + money. She had fallen into the dark, ugly pit known as Analysis Paralysis, also known as the Perfection Trap.
The perfection trap will break your 1,000 minutes and leave you broke. You’ve been obsessed with email all day and now running out of minutes. You should have saved up a bit to go to the open house your client wanted to preview in the East Village and you managed to miss your networking drinks too. Wondering how many amazing prospects you would have met there? You didn’t meet new people today and that is your whole job. There is nothing left to do but go home and inhale a peanut butter sandwich and toss the clothes you were wearing on the floor and pass out in your bed. Well done.
Analysis Paralysis is a disease that prevents many hardworking people from reaching their earning potential. They analyze and rethink everything to the death because they believe that time is free and that the result of their “hard work” makes them money. This is wrong. Your time is not free and the outcome is a gamble, even if the email is perfect. The perfection trap actually costs them MORE money, and they would know that if they just looked at their day, how a CEO would look at their company. You would budget the appropriate funds for each task at hand, knowing that the only way to generate those new 1,000 minutes each day is to be as careful with them as you are with your own cold, hard cash.
If perfectionism gets a grip on you, you will waste one day at a time. Stay away from it and instead familiarize yourself with excellence. Excellence is real; Perfection is a myth. Think about it. Have you ever read an obituary that said, “LAURA WROTE PERFECT EMAILS”?
A lifetime of excellence includes winning awards, running a successful business, and raising great kids – that’s something you hear about. Excellence is about high but achievable standards. Excellence doesn’t want to suck the life out of your minutes – Excellence wants you to get results. You have two options. You can go home at the end of a productive day to hang out with your family and feel great because you are winning in life.
Or you make yourself another pathetic sandwich and step over sad piles of clothes so you can fall into bed like crap for not doing anything. Once again. Which scenario do you want for your own life?
If you’ve been known to fall headlong into the perfection trap, there is a way to stop you. You need to tag yourself, and here’s how:
Know what you are doing. Rethinking is the gateway to perfectionism. You have the skills to do the job. Don’t think it over: make a plan to master this task. Write down your goal and list the steps you need to take to achieve it. From now on EXECUTE is your motto. Just like a trader at a major investment bank. You will be executing trades with your 1,000 minutes every day.
Talk to someone who knows more than you do. This could be a colleague. If you’re afraid of making an embarrassing mistake, or if you’re not sure if your presentation will get the point home, or if there’s an issue with the big thing you have in the works, quickly ask a trusted ( non-perfectionist) employees workers to give feedback. You should have this person on speed dial and they should be a strong decision maker. And no matter what you do, DO NOT ask another overthinker or you will both be trapped together forever on your strange island of perfection – with no way out.
Give yourself a time limit. Two minutes for an email, one hour for a PowerPoint presentation. This will train your brain to handle these tasks without putting a strain on your minute bank. Every task you do and every action you take costs you time what costs you money.
The extra 10 minutes that it took you that you really didn’t? It only cost you $ 10. Do you like to cut open $ 10 bills? There will be some clear signs that you are climbing out of the perfectionist hole and those signs will come in the form of MANY RESULTS. Are you flying through your to-do lists? Have you added more to your plate? Are you earning more money personally, increasing your customer base or increasing the profit for your company?
If you don’t finish your chores and head back to the casual buffet for a second helping and raise more cash, you may still have a problem. Tag yourself until you actually see the light in the form of tasks.
Continue reading: How to manage perfectionism
Excerpt from BIG MONEY ENERGY: How to rule at work, dominate in life, and make millions by Ryan Serhant. Copyright © 2021. Available from Hachette Go, an imprint of the Hachette Book Group, Inc.
Ryan Serhant co-starred on Bravo’s hit show Million Dollar Listing New York and author of the national bestseller Sell It Like Serhant. Ryan only made $ 9,000 in his first year. Twelve years later, he has an average of $ 1 billion in annual sales, making him one of the most successful real estate agents in the world. Its social media platforms collectively receive an average of 3 million eyeballs. He is the CEO and founder of SERHANT., His real estate company of the same name, which was founded in 2020 and is the most visited real estate brand in the world. He lives in New York City with his wife Emilia and their daughter Zena.