Do you want to improve your life and be successful?
If you want to build a life you’ll be proud of, you need to make a conscious effort to get better.
A good place to start is mastering the most important skills that you need to be successful.
In this post, we’ll discuss 4 of the most important skills you need to be successful.
1). Time management
Time is the single most important asset available to mankind —- it’s equally distributed no one has more time than the other. Time is the currency of life. Make every moment count.
Deliberately schedule your daily, weekly, monthly activities. Most times, you don’t need sophisticated tools to do this. You can easily use a pen and a piece of paper/jotter or use Google Keep (this is what I use). Google Keep is a free tool by Google to help you take notes.
Let it be part of your morning routine to write down what you’ll do for the day. I feel more excited and fulfilled when I create a task for the day and complete them. If I don’t complete my task, that will definitely make the first task on my list the next morning.
Elon Musk uses this technique as well:
Elon Musk is known for using time blocking methods to manage his time effectively. Many people call him 'superhuman' for his amazing time management skills. He uses time blocking from the moment he wakes up in the morning where he assigns each time block to a certain task that he needs to accomplish on a given day.
Don’t be unrealistic with your daily goals, document what you know is possible, “little drops make an ocean.”
If you can manage your time effectively, you’ll not only be happy with yourself, you’ll get more things done.
Eventually, you’ll feel responsible and you will most likely accomplish your aim or purpose in bits and pieces which will lead to achieving your bigger long term goals.
2). Resource management
“Ability to excel in an activity despite the scarcity of the facility is a defeat of inequity.”
― Vincent Okay Nwachukwu
Resources are scarce. Whether it’s time, money, human resource, etc., you’ve got to be at your best.
Being successful isn’t easy especially financial success. Staying successful is even more tricky. You need to manage your wealth, riches, investment, etc properly to stay successful.
Acquiring the skill to do help with your management skills is priceless.
3). Risk management
Risk management helps you to identify and address the risks facing your personal finance and in doing so increase the likelihood of successfully achieving your personal/business objectives.
Put it on your task list to improve your risk management skill. It’ll help you stay safe and to stay profitable. Attaining success means your wins are way above your losses.
4). Opportunity cost
In most cases, you’ll get a lot of options to choose from, the opportunity cost is what you sacrifice when you chose one option over the other.
Anytime you make a choice there is a certain value you place on it.
If you had a good job, earning over $50k a year and you give it up to start your small business, you’ll most likely earn very little from the beginning of your business.
The money you lost as a result of not staying at your job is your opportunity cost.
Your business might eventually be successful and you’ll make way more than that — that will reduce your opportunity cost, things can also go south and you’ll regret —- that’s a really high opportunity cost.
Analyze opportunities as they come, measure your risks, evaluate its’ value to you and your business.
What is the opportunity cost?
Ask yourself this question each time you want to make a new decision. Mastering how to analyze and calculate your opportunity cost is a great skill that could help with your success.
If you want to be successful not just because you are lucky, these skills will help you move fast and break things.