Advice That Paid Off
IllustrationStory★★★★Ivy Lee, a management consultant, was called in by Charles Schwab, chairman of Bethlehem Steel Company, to give him advice on how to better manage his time. After observing Schwab for several hours, Lee gave this advice: “Every evening write down the six most important things that must get done the next day, and list them in order of importance. Don’t begin item two until item one is complete.” Schwab asked Lee how much he wanted for this advice and Lee said, “Use the plan for six months and send me a check for how much you think it is worth.” After six months, Lee received a check from Schwab for $25,000—which was quite a lot of money in the 1920s.
The point
A simple prioritization principle transforms a CEO's time management and earns the consultant significant compensation through proven results.