Focus
You should see my email inbox. It’s about 25% client emails, 25% people who want to buy us, and 50% people who want to sell us something.
I’ve gotten very good at the unsubscribe button in the last year.
Something I have tried to be really conscious of in my career is the idea that effort compounds. If I just keep doing this, without even trying hard, I can do more. I think it was Greg Lemond who said, “It never get easier, you just go faster.”
While that is nice in theory, I am starting to realize the side-effects of compounding effort. One is that you get better at your trade/craft, which is logical. The other is that more people start to take notice.
As effort compounds, opportunity compounds. As opportunity compounds, distraction compounds.
The late Charlie Munger had 3 basic rules for success in life:
Don’t sell anything you wouldn’t buy yourself.
Don’t work for anyone you don’t respect and admire.
Work only with people you enjoy.
The most successful people I know can make decisions quickly. They also aren’t afraid to admit when they are wrong and reverse course, even if it makes them look like fools.
My goal is to be laser-focused on what we have done really well to this point, and hope to continue to do really well. I don’t want to go to another conference, or wholesaler luncheon, or anything other than what we have done to get here.
A few new updates:
On Friday we moved all investment ‘sweep’ cash in Schwab accounts to the Schwab Money Market fund. This is to allow your idle cash to earn a higher interest rate (currently over 5%) as it is parked for reinvestment. We expect to execute this sweep every month moving forward on or around the 10th of the month. As interest rates remain higher for longer, your investment cash will benefit.
I’ve recorded about 12 podcast episodes in the last few months. I am hoping to have it relaunched by the end of this month. It’s been a lot of fun, and remarkably easy. I’m hoping it will be another avenue to help us streamline communication, and share ideas with you all. I’ve got a bunch of great guests lined up, and just had an interview last week with the former Global Chief Economist for JPMorgan Chase & Co. Hoping to have that one up and out soon for you.
Until next time.
