Why does it work? -It's simple enough to actually work.*Complexity is often a weakness because it makes it harder to get back on track.-It forces you to make tough decisions. Prune your deas and trim away everything that isn't absolutely necessary. Basically, if you commit to nothing, you'll be distracted by everything.-It removes the friction of... See more
This is not to say that all time debts are bad. Perhaps you enjoy serving on your school committee or volunteering with a local organization. However, when you make these commitments, you are also creating a time debt that you will have to pay at some point. Sometimes the debts we commit to are worth sacrificing for, many times they are not.
Avoid the fate of the lion: stop gazing at all the options and just get started. Starting before you feel ready is one of the [habits of successful people.
After three months, Schwab was so delighted with the progress his company had made that he called Lee into his office and wrote him a check for $25,000 (equivalent to $400,000 in 2015)