Why I Keep Violating Economic Principles

People obsess over numbers – sometimes they get lost in numbers. August’s paid newsletter is going out today, here is a short excerpt that I feel needs to be shared:


“So I don’t “tell” many stories and I’m putting hours into writing this thing, along with my daily emails every day that could be going into the most profitable thing I can do, which is make more video.

On paper, it would appear, I am violating all kinds of economic principles and being grossly inefficient.

But let’s look back at last month’s issues, where I shared the Skill/Challenge index; the quadrants breaking down where a high performing person needs to spend most of their time in order to sustain performance: High Skill, High Challenge.

Here is a screenshot from a Skill/Challenge workbook Dan Nicholson and I put together for coaches, consultants or anyone that sells their time for a living:

12081786_1597071909JBMScreen_Shot_2020-08-10_at_7.38.50_AM.png

Doing the wrong things (for you) can put you in a state or constant anxiety, apathy or boredom… even if the math works out “better” on paper in the short term, it creates a ticking time bomb. The reason great plans, on paper, don’t always work out the way they are supposed to is because…

The greatest violation of economic principles

Is ignoring human psychology 

The single biggest factor in how much success a person will experience in their life is how aligned their pursuits stay with their unique disposition, their values and their priorities.

Sometimes we have to give up some money to get closer to the things that we are actually working towards.

Sometimes we may choose the scenic view, because our value systems and priorities have more to do with the journey than an arbitrary number on paper.

Sometimes we may choose the fastest path because the number on paper represents something important to us.

The point is this: it’s all preference based. We should put numbers on paper as a tool to help us decide which path will make us happiest, not which numbers will add up to be the biggest numbers.

If pushing for more revenue means spending less time with your family, missing your son’s baseball games and doing a bunch of stuff that gives you an outrageous amount of stress, boredom and anxiety…

How is that NOT violating your PERSONAL principles? If you’re self employed, you can’t separate your personal principles from your business principles.

And economically:

There Is Nothing More Profitable

Then Developing Useful Skills

Oftentimes, sharpening the axe pays off more than chopping down more trees, right now. We have no idea what social media platforms are going to come and go (or get banned by Trump). We have no idea where videos will be allowed, where they will be banned or how buyer behavior is going to change over time.

If you’re going to be around a while, there is nothing more economically efficient over the long term than sharpening as many tools as possible. Sometimes we have to look inefficient now to be more efficient later.

I don’t have a story to tell you. But I am going to keep showing up and refining this newsletter. If it gets better, you will develop your own story about me. If it gets worse, you’ll develop your own story about me. If you take one nugget out of each issue, implement and your life gets better (which is what you should do) you will develop your own story about me. If I do my job, you’ll tell your friends that story and they will want a front row seat, too.

Either way, this Letter is a forcing function to show up and develop this skill.

Note: You can get Dan’s Skill Challenge Index Trainings and workbook here: Cfeclass.com/coaches


Something to think about.

The context is this: Writing the Monthly Newsletter is one of my lowest dollar per hour activities, so why do I keep doing it?

If you want the August edition you can still get it by getting on the daily Email list right here:

Nicpeterson.com/bombs

I’d say that you can wait to make a decision, but once this goes out, it never goes out again.

Thought Bomb:

Chasing  bigger numbers can make you miserable. Be hyper-aware of how you’re spending time and how it feeds not just your bank account, but also your soul.

Nic

Here is the link again if you want the August Edition:

Nicpeterson.com/bombs

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