A Guaranteed Formula for Success: Identify Your #1 Priority and Finish It First

“He who every morning plans the transactions of the day and follows out that plan carries a thread that will guide him through the labyrinth of the most busy life. The orderly arrangement of his time is a like a ray of life which darts itself through all his occupations. But where no plan is laid, where the disposal of time is surrendered merely to the chance of incident, chaos will soon reign.”
—Victor Hugo

“A Guaranteed Formula for Success”

A popular legend recalls a time management trick that efficiency expert Ivy Lee showed to Charles Michael Schwab (1862—1939,) the American steel magnate and President of Bethlehem Steel, then the second largest steel manufacturer in the United States.

Lee famously advised Charles Schwab and his managers to list and rank their top priorities every day, and work on tasks in the order of their importance as time allows, not proceeding until a task was completed. After implementing the suggestion, Charles Schwab famously said that Lee’s method for managing priorities had been the most profitable advice he had ever received and paid him $25,000.

When Charles Schwab was president of Bethlehem Steel, he confronted Ivy Lee, a management consultant, with an unusual challenge. “Show me a way to get more things done,” he demanded. “If it works, I will pay you anything within reason.”

Lee handed Schwab a piece of paper. “Write down the things you have to do tomorrow.”

When Schwab had completed the list, Lee said, “Now number these items in the order of their real importance.”

Schwab did, and Lee said, “The first thing tomorrow morning, start working on number one and stay with it until it’s completed. Then take number two, and don’t go any further until it’s finished or until you’ve done as much with it as you can. Then proceed to number three and so on. If you can’t complete everything on schedule, don’t worry. At least you will have taken care of the most important things before getting distracted by items of less importance.

“The secret is to do this daily. Evaluate the relative importance of the things you have to get done, establish priorities, record your plan of action, and stick to it. Do this every working day. After you have convinced yourself that this system has value, have your people try it. Test it as long as you like, and then send me a check for whatever you think the idea is worth.”

Mary Kay Ash Helped Her Beauty Consultants Juggle Spouse, Children, and Career

Mary Kay Ash, American beauty products entrepreneur and founder of Mary Kay Cosmetics, had a variation to this technique. In You Can Have It All, she writes:

Each night, I put together my list for the following day. If I don’t get something on my list accomplished, it goes on the next day’s list. I put the hardest or most unappealing task at the top of the list. This way, I tackle the most difficult item first, and once it’s out of the way, I feel my day is off to a good start.

Mary Kay Ash taught her cosmetics sales consultants this technique of prioritizing their work and thus avoid being stretched too thin. Most of Mary Kay’s cosmetics sales consultants were women filling multiple roles as mother, wife, and businesswoman.

We try very hard to get our consultants to organize themselves. The best way I have found is a little pad of paper we issue called “The Six Most Important Things.” I teach consultants to write down the six most important things they have to do the next day every night before they go to bed. I suggest that people organize things by priority. First, put the thing they most don’t want to do at the top. Then write down the six most important things—not sixteen, because this is frustrating, but six.

Idea for Impact: Squeeze the Most out of Your Day

The best way to start your day is by accomplishing something instead of fiddling around with email or contemplating the day’s priorities. So, every evening, before you leave the office, write down the most important tasks you’ve got to get done the next day. Leave it on your desk along with any support material you need to work on it. This will help you get rolling first thing in the morning.