SMS 193 – You Need to Have Clear Priorities

4. Successful individuals have clear priorities.

Having clear, well-defined priorities is the fourth of twenty-five things that successful people do. In this 25-part series, we’re spinning our original inspiration “25 Things Poor People Do That Rich People Don’t” into a more constructive and positive narrative help to guide our future actions and decisions.

From 0:00 to 8:15, before we get into today’s episode, we:

  • Define what “success” means in relation to this 25-part series
  • Address feedback submitted by you. Do you have questions, future episode suggestions, or comments? Submit your question through email at livelifesimple365@gmail.com, though our Contact Submission Form, or by sending us a Facebook or Instagram message.

Now, let’s get into today’s show.

Beginning at 8:15, we:

  • Highlight the original narrative centred around having flawed priorities, “We all have priorities. People choose what to do with their time based on their priority. Poor people prioritize based on emotion and what comes easier to them; whereas rich people prioritize based on what’s more important.” During this episode, we flip that narrative from the danger of having flawed priorities to the benefit of having clear priorities.
  • Define what a priority is and underscore the importance of focusing on a single priority at any given moment
  • Highlight the difference between priorities versus tasks
    • Well defined priorities will be broken down into tasks which should be clearly stated sequentially with well defined timelines
  • Exam the relationship of Goals – Values – Priorities – Tasks and how these cohesively work together to build a triangle, with goals situated at the top and tasks making up the base
    • Example: 
      • Goal – financial independence early in life 
      • Value – used cars 
      • Priorities – when buying used cars you need to be proactive  
      • Tasks – a used car buying checklist 
  • Look at the Pareto Principle
    • The 80/20 rule — which says that 20% of your efforts tend to produce 80% of your results

Why you need to set priorities:  

  1. To assess what is truly important 
  2. To avoid experiencing a false sense of accomplishment 
  3. To avoid gravitating towards the easy tasks rather than important priorities 
  4. To ensure we avoid procrastinating on things without imposed deadlines 

The Eisenhower Matrix – Urgent/Important 

  1. Urgent and important 
  2. Urgent but not important
  3. Not urgent but important 
  4. Not urgent nor important 

Priority Considerations: 

  1. Ensure your priority is in line with your goals – it doesn’t matter how efficient and effective you are each day if you’re working towards the wrong goal
  2. Be aware of the sunk cost fallacy – if the urgency has changed so has your priority 
  3. Schedule your most important priorities during your most productive hours 

Do you have feedback that relates to any of the ideas featured below from a past or future episode? Connect with us through email at livelifesimple365@gmail.com or through our Contact Submission Form.

25 Things Poor People Do That the Rich Don’t Do – Positive: 25 Things Successful People Do

1. They don’t understand the game – Positive: They understand basic economics 

2. Lack of a Value System – Positive: They have a well-developed value system 

3. No Birth Control – Positive: They engage in family planning

4. Flawed Priorities – Positive: They have clear priorities 

5. Lack of Effective Time Management – Positive: They have effective time management 

6. They lack motivation – Positive: They are motivated

7. They don’t work for money – Positive: They understand the difference between work and a job

8. Lack of Strategic Investment – Positive: They are strategic with investments

9.  Running without a Budget – Positive: They prioritize budgeting 

10. They rely on will power – Positive: They understand discipline

11. Lack of Self Development – Positive: They embrace continuous improvement

12. Not Taking Calculated Risk – Positive: They understand the risk reward trade off

13. Always Playing the Blame Game – Positive: They own their actions

14. Bad Saving Culture – Positive: They make saving a way of life

15. Nonchalant Attitude towards their Health – Positive: They prioritize their health 

16. Keeping the Wrong Company – Positive: They surround themselves with quality people

17. They Watch Too Much Television – Positive: They understand the value of down time

18. Turn Pursue Opportunities – Positive: They see opportunities where others don’t

19. They Don’t Bank on Wishes and Luck – Positive: They understand that good fortune is usually earned

20. Giving Room for Pessimism – Positive: They are critical thinkers

21. Lack of Vision – Positive: They have vision to see what could be

22. Lack of Focus – Positive: They can prioritize effectively

23. They give up too quickly – Positive: They understand passion is pushing through the hard parts 

24. They are Master Procrastinator – Positive: They do what they can when they can

25. They are afraid of change – Positive: They understand change equals growth 

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