Maybe you’ve noticed. So much of what the world tells you it takes to achieve success is wrong! Dead wrong!

Conventional wisdom’s recipe for getting ahead is:

• Work hard—really hard
• Put in long hours
• Take on extra assignments

Yet, according to an article in the Wall Street Journal (1/14/18) reporting a 5-year study of 5000 workers, those very behaviors are the ticket to mediocrity. 

A professor of management at UC Berkeley conducted the study of people in a wide range of industries to find out what differentiated outstanding performers from those who were, at best, “middling.”

“Top performers mastered selectivity,” wrote Morten Hansen, who led the study. “Rather than simply piling on more hours, tasks, or assignments, they cut back.”

Call it the Rule of the Fewest. To achieve the most success, aim for the fewest meetings, the fewest goals, the fewest projects while focusing intensely (or as Hansen calls it “obsessing”) on what’s truly essential.

Professor Hansen gave an example from his own life. A CEO of a large foreign company asked him to present a proposal for executive education…using only one slide.

He struggled mightily to condense his 15 slides into one. “I obsessed to get it just right,” he wrote. “When you present one slide, it needs to be excellent.”

The outcome?  Fewer slides gave him lots more time.

“The CEO & I were able to spend our 45 minutes discussing the program in greater depth,” he recalled. “When we finished, he remarked on how productive the meeting had been.”

That’s not to say the highest performers don’t work hard. But that is definitely not why they outperform.

“They outperform,” explains Hansen, “because they have courage to cut back and simplify when others pile on, to say ‘no’ when others say yes…to change how they do their jobs when others stick with the status quo.”

For someone (me) who’s taking a partial sabbatical, focusing only on coaching and writing, reading this study felt like God Herself was giving me a high five!

Have you had success in cutting back? Or is it still a scary thought?

“What you share you strengthen.”

~A Course In Miracles

In the spirit of the above quote, ask yourself this question: Could I be undermining my success by what I’m sharing with others?

Years ago, a  coach gave me a powerful assignment.  For 2 weeks, I was to simply observe my conversations, without changing a thing. Just notice what I talked about, the words I used, my typical reactions…you know, the stuff I was sharing with others.

What I saw was not pretty.

I had a habit of putting myself down…without even realizing it. I’d constantly dismiss my skills (“Oh, that’s no big thing”), deflect praise (“I thought I was awful”), and diminish my successes (“But I could’ve done so much better”).

What felt, to me, like humility, was in truth, a form of self sabotage. Every word of self depreciation put another dent in my self esteem.   I was strengthening my self-doubt…while destroying my self-confidence.  No wonder I was struggling.

Are you doing something similar? Minimizing your achievements or underestimating your  value?

I invite you to find out. Spend a few weeks simply watching what you talk about.  Then write a comment below on what you observed.

Of all the women I’ve interviewed, the ones with the highest net worth didn’t necessarily earn (inherit or marry) the most money. The whopping majority worked with financial professionals…most often with a whole team (including a financial advisor, an estate attorney, a CPA, and a bookkeeper).

I’m a big fan of hiring financial experts. I wouldn’t fill my own cavities or set my own broken bone. Would you? We’d leave that to a specialist, someone who’s had extensive training and that’s pretty much all they do.

But I must warn you: Financial professionals make lousy Prince Charmings. Don’t ever hand over your money, close your eyes, turn your back, and hope they take good care of you. You need to be educated and involved. A good advisor will make sure you are.

Another Warning: Resist the urge to sign up with the first advisor you meet. Interview at least three. Ask questions such as these, then go with your gut instinct:

1. Would you tell me about yourself?
2. Do you specialize in certain investment
3. Who are your clients?
4. How do you charge for your services, and what costs might I incur working with you?
5. How often do you communicate with clients, and how often might I expect to hear from you?
6. Would you be willing to educate me about investing and finances in general?
7. Have you ever been involved in any lawsuits, arbitration, or disciplinary problems?
8. Is there anything you want me to know about you that I haven’t asked?

Need more help? I’ve written a booklet filled with great advice: Finding A Financial Advisor You Can Trust. It’s available here.

You’ll learn about hiring the right professional and protecting yourself by being a good client.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com

One day, I was glancing at the Wall Street Journal, when 5 words grabbed my attention. “The survival of the focused.”

I knew those five words carried a powerful message. A message quite familiar to High Earners. But one Underearners have failed to grasp.

Financial Success belongs to the focused.

Without focus, it’s easy to get sidetracked by multiple distractions fighting for your attention. But with focus, conflicting objectives cease to control you, making it easier (and less stressful) to take decisive action without second guessing.

What’s the trick to getting focused? Prioritize. Put your attention exclusively on your priorities. All else goes on the back burner.

Sadly, most of us don’t know what our true priorities are. We carry around lengthy to-do lists, then berate ourselves unmercifully when we don’t cross everything off—a sure-fire recipe for failure.

What if, instead, you take everything on your list, all those items you simply must do, and narrow them down to 5 items—the 5 tasks that are really truly essential, that reflect your most cherished values, what’s most important to you?

Those 5 are your priorities. They take precedence when scheduling your time. If it’s not a priority, it’s a distraction.  Each time you cross one task off, you can add another.

Does watering your plants or cleaning the kitchen carry the same weight as working out at the gym or playing with the kids?

There’s no one right answer, only the most truthful one.

Need help determining your true priorities? Try this Values Clarification Worksheet.

If you enjoyed these “Words of Wealth”, head over to my website and sign-up for my FREE weekly newsletter at: www.barbarastanny.com