Important question from a reader -
I have come to believe that motivation is a limited and renewable resource. My day job as a trader is intense and stressful and I am left with little motivation by the end of the day. I have realized that I need to shift from working hard to working smart. In my case, this means giving away maintenance tasks to others while I work on new creative projects. Unfortunately, this is a challenge because I take on too much responsibility over my creations. I am hesitant to hand things off to others because I tend to micromanage. I need to learn how to let go of old responsibilities so I can take on new, and more profitable ones.
I suffered through the same thing.
You're probably a maximizer.
From Wikipedia -
"Satisficing... is a decision-making strategy that attempts to meet criteria for adequacy, rather than to identify an optimal solution. A satisficing strategy may often be (near) optimal if the costs of the decision-making process itself, such as the cost of obtaining complete information, are considered in the outcome calculus.
The word satisfice was coined by Herbert Simon in 1956. He pointed out that human beings lack the cognitive resources to maximize: we usually do not know the relevant probabilities of outcomes, we can rarely evaluate all outcomes with sufficient precision, and our memories are weak and unreliable. A more realistic approach to rationality takes into account these limitations: This is called bounded rationality."
Popularized in Barry Schwartz's Paradox of Choice.
Basically, maximizers try to get everything as perfect as possible, and feel let down if they don't get it perfect. Ironically, maximizers actually accomplish less than satisficers. Satisficers set minimum parameters for success and make sure they're met.
How do you delegate? You set minimum standards, write them down, communicate them clearly, and then let go of the fact that things won't be perfect. In fact, the job done will probably be worse than if you did it yourself, but it doesn't matter as long as it meets your base standards - and it frees up your time to do more.
If you can't delegate, then you are consigned to playing life small. To me that was the takeaway for Tim Ferriss's book (The 4-Hour Workweek).
What you describe here is also a core concept in Agile software development methodologies, which have absolute relevance in any context when talking about getting results. I have been making my way through a book by J.D. Meier titled "Getting Results the Agile Way", which applies this principle along with many others drawn from Agile practices to the whole.
The one amazing truth that I have come to realize and am continuing to realize daily, is that simplicity and action is at the core of productivity and making things happen; don't strive for perfection, rather "good enough" being the objective, and don't wait for inspiration--just (make time and) do it.
These simple concepts have had an enormous impact on my productivity, momentum toward success and the over-arching peace that comes with a directed life in only the past several weeks, and while I am still learning, growing and developing the skills and habits to sustain this direction, the payoff has started coming in a lot sooner than I expected.
Keep up the good work that you so graciously share with us.
If you asked me what I do, I'd probably give you a nondescript answer and get on to more interesting topics. Fact is, I "do" a lot of different things. This whole "What do you do?" question is a relic from an earlier era, before it was possible to "do" 30 different things. I am not salaried, so I work on my professional, personal, family, and global objectives each day. A little business, a little reading, a little history, a little art, a little self-discipline, a little philosophy, a little technology, a lot of different things.
But if you had to nail me down to three words, I'd say, "I'm a strategist." Nine words? "I'm a strategist. I figure out how to win." 15 words? “I’m a strategist. I figure out what is winning, and then how to get there.”
The first part of strategy is answering the question, "What is winning? What are even working towards? What are our highest level objectives, and why do we have them?" This is typically known as grand strategy.
Grand strategy is figuring out what the goals of an organization or a solo person ought to be. Arguably, this is the hardest part of strategy, because there is no right or wrong answer. It's subjective. And if you work on the wrong stuff, it doesn't matter how good of a job you do at it.
That's worth saying again. It doesn't matter how good of a job you do bringing your vision to reality if your vision was poorly chosen.
A lot of my friends joke around and say I'm high all the time. I've never smoked anything in my life. They say this because of how happy and child-like I always am, intrigued by the most random things, making hypothetical statements and laughing at random events for no reason. At the same time I place very high value in logic and rationality, and always try to understand what I'm doing and the world around me. As I have mentioned many times before in my blog, one of the things I hold to high standards, possibly the highest, is strategy. A lot of people talk about about Ideas, and Vision, but in fact I've found the best indicator of success to be a good strategy. The truth is strategy isn't only about achieving something, it can also come into play in just controlling how you feel, whether you get that raise or not, and in general whether you live the life you want. There is a strategy for everything.
One of the interesting things about strategy though is how they overlap into different overarching levels of reach. in other words, some strategies effect others, some don't, and some take priority. For example, you might have a strategy in play in regards to how you learn languages, but you might have another strategy in play as to how you determine what you want. If you don't want to learn a new language at the moment the strategy you have for learning languages is not in question, or in some cases, not even worth creating. In this case, you can extrapolate the value of strategy, strategy lets you decide what path to take, it allows you to clear your head, and determine WHAT you are going to tackle, and then HOW you are going to decide (WHAT you do is infintely more important in strategy, although for general happiness and such HOW you do something is much more important, read Flow for more on this. although how you go about doing something can be a strategy in and of itself).
There was a post on SETT a while back about how two newbie lumberjacks where going to go cut trees and one just gets his axe and goes for it, and the other sits down and reads a book on how to cut trees and sharpen his axe. it took the second lumberjack 2-3 days to probably read the book and get ready to cut trees, the first lumberjack had already cut 12 trees. but by the end of the week they were even, and by the end of the month the other lumberjack was 30-40 trees ahead.
Ultimately taking time to sit down and determine how you are going to tackle something (and for most people deciding what you are going to tackle in the first place) is much more important than just expecting things to happen for you. Short-term thinking might be what is ingraining this type of behavior in us, its difficult to see past 2-4 or 8 weeks. its hard to think short and long term. being able to prioritize or understand how the ebbs and flows work on different time frames. sometime one can get caught up and expect things to just happen to you, but in the long term this is a very bad strategy and one which you are not a deciding factor. Some people rather work two day jobs and save instead of maybe just working one and learning programming with the time they save. Then maybe in a couple of months they could use their knowledge to start something or get a much higher paying job with a higher ability to move up. At the same time, in the case of some traders, some are so focused on a day trade that they forget to focus on the how the bigger picture might be acting or vice versa. A swing trader can miss a lot of day trading opportunies (weed stocks as of late for example have been crazy volatile and good for swing traders, especially shorting.) because he might be so focused on the long picture.
But the most interesting part of strategy is actually going through with the strategies you set forth. Just like the lumberjack who cuts much more than his counterpart might not see a reason to learn or improve on his strategy, or worse he might see his progress as a signal that he can slow down and take a break, people who develop good strategies can get complacent, and ethier stop acting on their strategies or just stop caring. Of course there is a strategy for this too, which involves having principles and a strong life philosophy, but high level super-overarching strategies like this can take a lot of time to develop and instill, as they must protrude through everything you do.