I recently listened to a YouTube video of Earl Nightingale where he talked about ‘The $25,000 Idea’, and I was so intrigued by it that I wanted to share it with you.
The story is about how a man was paid $25,000 for one single idea.
Not bad for 20 minutes’ work.
I won’t say any more than here it is:
The story goes that the president of a big steel company had granted an interview to an efficiency expert named Ivy Lee. Lee was telling his prospective client how he could help him do a better job of managing the company, when the president broke in to say something to the effect that he wasn’t at present managing as well as he knew how. He went on to tell Ivy Lee that what was needed wasn’t more knowing but a lot more doing.
He said, “We know what we should be doing. Now if you can show us a better way of getting it done, I’ll listen to you and pay you anything within reason you ask.”
Well, Lee then said that he could give him something in 20 minutes that would increase his efficiency by at least 50 percent. He then handed the executive a blank sheet of paper and said, “Write down on this paper the six most important things you have to do tomorrow.” Well, the executive thought about it and did as requested. It took him about three or four minutes.
Then Lee said, “Now number those items in the order of their importance to you or to the company.” Well, that took another three or four or five minutes, and then Lee said, “Now put the paper in your pocket. And the first thing tomorrow morning take it out and look at item number one. Don’t look at the others, just number one, and start working on it. And if you can, stay with it until it’s completed. Then take item number two the same way, then number three, and so on, till you have to quit for the day.
“Don’t worry if you’ve only finished one or two; the others can wait. If you can’t finish them all by this method, you could not have finished them with any other method. And without some system, you’d probably take 10 times as long to finish them and might not even have them in the order of their importance.
“Do this every working day,” Lee went on. “After you’ve convinced yourself of the value of this system, have your people try it. Try it as long as you like. And then send me your check for whatever you think the idea is worth.”
The entire interview hadn’t taken more than a half-hour. In a few weeks the story has it that the company president sent Ivy Lee a check for $25,000 with a letter saying the lesson was the most profitable, from a money standpoint, he’d ever learned in his life. And it was later said that in five years this was the plan that was largely responsible for turning what was then a little-known steel company into one of the biggest independent steel producers in the world. One idea, the idea of taking things one at a time in their proper order. Of staying with one task until it’s successfully completed before going on to the next.
For the next seven days try the $25,000 idea in your life. Tonight write down the six most important things you have to do. Then number them in the order of their importance. And tomorrow morning, go to work on number one. Stay with it till it’s successfully completed, then move on to number two, and so on. When you’ve finished with all six, get another piece of paper and repeat the process. You’ll be astonished and delighted at the order it brings into your life and at the rate of speed with which you’ll be able to accomplish the things that need doing in the order of their importance. This simple but tremendously effective method will take all the confusion out of your life. You’ll never find yourself running around in circles wondering what to do next.
The reason for writing down what you consider only the most important things to do is obvious. Handling each task during the day successfully is important to the degree of the importance of the tasks themselves. Doing a lot of unnecessary things successfully can be pretty much of a waste of time. Make certain that the tasks you take the time to do efficiently are important tasks, tasks that move you ahead steadily toward your goal.
Remember that you need not worry about tomorrow or the next day or what’s going to happen at the end of the month. One day at a time, handled successfully, will carry you over every hurdle. It will solve every problem. You can relax in the happy knowledge that successful tasks make successful days, which in turn build a successful life. This is the kind of unassailable logic no one can argue with. It will work every time for every person.
*You can read the full article by Earl Nightingale here.
Dr. Scott Zarcinas (aka DoctorZed) is a doctor, author, and transformologist. He helps pro-active people to be more decisive, confident, and effective by developing a growth mindset so that they can maximize their full potential and become the person they are capable of being. DoctorZed gives regular workshops, seminars, presentations, and courses to support those who want to make a positive difference through positive action and live the life they want, the way they want, how they want.