Edit ModuleShow Tags

How Essentialism Applies to Your Business

Business leadership is about making good decisions and staying focused. Essentialism is an ideal tool to have.


Published:

“Hard choices, easy life. Easy choices, hard life.” - Jerzy Gregorek​

Making tough decisions allows you to pursue what matters. Trying to do everything or always taking the path of least resistance leads to disarray. Jerzy  Gregorek, a champion powerlifter, author, political refugee and poet, might not consider himself an adherent of essentialism, but he has incorporated its central ideas into his personal philosophy. Essentialism is a mental model that acts as a filter to help us make better decisions. Business leadership is about making good decisions and staying focused. Essentialism is an ideal tool to have.

Many of you have already read Essentialism: The Disciplined Pursuit of Less by Greg McKeown. For those who haven’t, I would add it to your to-read pile. Essentialism is easily approachable at less than 250 pages. I will describe the central ideas here but won’t summarize the book. The ideas are what we can incorporate into our role as business owners and leaders.

The book has four sections that describe how to pursue the essential:

  • Essence: What is the core mind-set of the Essentialist?
  • Explore: How can we discern the trivial many from the vital few?
  • Eliminate: How can we cut out the trivial many?
  • Execute: How can we make doing the vital few things more effortless?

Essence - What is the tradeoff I want to make? What do I want to go big on? The essentialist understands that tradeoffs are part of life and cannot be avoided. Making intentional decisions about what to pursue and what to exclude allows you to focus on the few things that actually matter.

Explore - To focus on the essential, we need to create space. Space is both time and a physical location to plan, think and execute. Time to focus on what to pursue increases your selectivity and leads to more focused work. A virtuous circle is created: As we focus, we become more focused — leading to more time to focus.

Eliminate - Would I build this specific process again if I were starting from scratch today? Maintaining an area of business investment due to inertia happens to us all. Essentialists evaluate, and if they determine that they would build this particular thing the same way again, they must determine how to make a change. Elimination creates focus and accountability.

Execute - Routines create behavior patterns that help implement our intentional designs. Stop opening email or social media first thing. Focus on what matters during your most productive hours. Filter new ideas through the Eisenhower Decision Matrix. Your schedule should be custom to you and your flow to allow you to focus.

Time is precious and finite. Your time as a business owner is precious. Your focus as a business owner is finite. Your time and how you use it make the difference for your business. Essentialism can help you think about your time and your intention. Happy reading and thinking.

This article is intended for general informational purposes and does not constitute a recommendation of any type.Please seek advice from your tax, legal, and financial professional prior to taking action.Securities Offered through Destiny Capital Securities Corporation, member FINRA/SIPC

Jarrod Musick is the CEO and president of Destiny Capital where he leads a talented team committed to serving clients. Musick loves the challenge of helping clients navigate a rapidly changing financial landscape. When he isn't here, you can find him chasing his twins

Edit Module

Get more content like this: Subscribe to the magazine | Sign up for our Free e-newsletter

Edit ModuleShow Tags

Archive »Related Articles

Transforming Brick-and-Mortar Stores in the Online Era

Despite the ubiquitous impact of online shopping, brick-and-mortar stores are proving foundational to the contemporary shopping experience. Given the pervasiveness of online retailing, that resiliency may be surprising.

Governor Polis Establishes Way Forward for Colorado Hemp Industry

Last week, the American Herbal Products Association hosted the first-ever Hemp-CBD Supplement Congress in downtown Denver. The event brought together professionals from across the industry — including farmers, producers, retailers and marketers — to discuss the quickly evolving regulatory and financial landscapes around hemp and CBD.

How One Castle Rock Author Shot to the Top of the Charts With Self-Publishing

From struggling to find passion in his career to writing 13 books, Jeff Carson used self-publishing to shoot to the top of Amazon’s best-seller lists. Here, he talks about the benefits of the self-publishing, how he found success and why others should jump in.
Edit ModuleShow Tags
Edit ModuleEdit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags