Focus And The 10X Rule

Focus And The 10X Rule

Imagine being able to travel the world… for weeks or months at a time. Perhaps traveling isn’t your thing… Maybe collecting classic cars is, or making your own beer. Whatever your hobby, or desire is that you don’t have enough time to focus on now; imagine being able to do that thing and enjoy it! 

How amazing!  would that be? 

Yeah, some of us are able to slip away and get some time to do our hobbies, make our beer, work on our cars, and watch the game. But we also have to put in the forty to eighty hours a week to provide for the family. We need a break at some point… But also, what is the focus for? 

Focus In An Unfocused Life

I have been listening to a lot of personal finance podcasts, audio books and reading a ton of blogs here lately pertaining mostly around finances. I found a particularly interesting blog and began reading an article called The Incredible Power of 10x Thinking.

I thought it was a great read and definitely made me think specifically in depth about my finances and the focus I put into them. 

I often look at my friends or and have a bad habit of saying I wish I could have the things that they have, or do what they do. But the reality is, I can. Paula’s entire blog is dedicated to being able to afford anything, but not everything with the mindset that we have to make decisions and choices as to what is important to our goals. 

I am using the idea of focus this year to build on relationships, health and overall well-being. And I like the idea Paula expressed with the 10x thinking (which I have heard many other times of course) for exponential growth and results.  

Focus 10x

So here is how it will work; its simple really. Set a basic goal of where you want to be. That goal should really be in present tense. I set mine for this year, but a 5 or 10 year goal works well too.

Here are mine for 2020:

  1. I have $20k set aside for additional investments
  2. I have a strong relationship with my wife.
  3. I am enjoying the work that I do.
 
So where does the 10x come in? 
 
Everyday as you’re going through activities run throughout each of the goals and ask yourself does this move me closer to this goal? If it does, then focus on that action and make it a priority. If it doesn’t, then hold off and move on to the next goal. If you want the specifics on 10x thinking check out this blog post: 10x Thinking.
 

Tedious Process of Focus

The process of 10x thinking and focus seems like it requires a lot of work and an excess amount of time… 

Not in reality. 

Performing this 10x process in real time takes an extra 2-5 seconds for each goal. As you are making decisions throughout your day ask yourself does this help me reach my goal. If it does, do it. If it doesn’t don’t. Obviously there are somethings in life that are necessities like buying groceries but even that can be adapted

For Example: 

Goal #1: $20K Set aside for additional investment at the end of the year

Grocery shopping bill is $150/week on average 

Question the grocery bill to determine if this is the best use of funds. Are there alternative products that could save money or items that you could go without to allow additional money to be moved to the $20k goal.

The entire process takes less than a minute to challenge each item as you put them into your cart but could end up saving you $20 or more each shopping trip. If you have 5 weeks in a month that is $100 in a month. 

What’s the Big Deal About Focus?

As I am reading the financial books, and articles I am setting my family up for financial freedom.  What I mean by that is not being bound to a requirement to earn a paycheck. I can do something I enjoy doing, simply because I enjoy doing it. That is my driving force. 

Focusing on that idea allows me to put all my effort into building a portfolio of investments that can provide for my family during both high and low economic times. It means I can make the decisions I need to make for my family and exceed the goals I have set for myself. 

It can become a very big deal extremely quickly. 

Final Thoughts

Its about focus, that means the few. Not focusing on everything. We use a few small actions every day to provide massive results towards our goals. We can’t say yes to every action or item that we encounter, but we can say yes to just about anything given the right amount of focus.

Given the right amount of focus in the correct areas can create an explosive result propelling you into uncharted territory.  You can easily fold this into a bullet journal for tracking your goals. 

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