Time is a Scarce and Valuable Resource

When you look over the horizon what do you see?

The first quarter of the year is almost done. We are already in the month of March. How quickly! Where did the time go? That’s a good question and now is a good time as any to take stock of the first few months of the year. I read somewhere that success is about controlling how you use your time, I couldn’t agree more. Many people think success equates to how much money you make and ones net worth. That’s the reason why money is glorified as a symbol of might and power. Unfortunately, this view in many ways can be detrimental to developing character by way of the fact that one can be tempted to make money at whatever cost. If success is measured by the highest net-worth or the highest annual income, wouldn’t you have to win every time? You will spend time looking for how to be number one – rather than taking the time to enjoy and learn from your achievements.

Many people struggle to meet their monthly obligations for a number of reasons. That isn’t in doubt. These struggles could lead one to imagine that having a really high income or net worth will afford you some time to relax and enjoy the finer things in life. This is true in many ways, but, if you fall into the trap of looking to be number one all the time, you could find yourself in the hamster wheel running to keep yourself at the top.

What if you were offered a position that will pay you a six figure salary, but you will have to travel 80% of the time? Would you take it? If so what would you be doing with the 20% of the time you will not be traveling? Resting perhaps? Now, I am not denigrating jobs that are demanding, because there are people who are committed to jobs that will require them to travel extensively and they are compensated very highly and are also very fulfilling; like those in humanitarian work. Often times, these kinds of jobs favor people who don’t have families or choose to have families later in their lives. I digress. If you find yourself working a grinding job that pays well but makes you miserable, then you need to stop and ask yourself whether you should get off the hamster wheel and figure out what you really want to be doing with your life.

I started the year with a positive mindset and have been traveling a lot. But during my travels I had the opportunity to travel with my family. I have come to the conclusion that success isn’t all about making money, but rather it is about how you choose to use your time. I get a lot of young people who ask me about how they can be successful. They look to me as a mentor and would like to emulate me in the process. There are many factors that contribute to success, but I think it begins with finding something you enjoy doing and making money from it. I have said that many times before, but then, how do you determine which direction you should take?

My advice to young people is to find an occupation that satisfies three hypotheses:

• Am I passionate about the work?
• Am I one of the world's best at doing this work?
• Will the market compensate me well enough for it?

If the answer is yes to all these questions then you have completed the first stage which is a self assessment.

The second thing I advice young people to do, is to seek out informational interviews with people in those fields that interest you. So it will be good if you begin developing a network of people that you can get advice from. A network will be inherently valuable. Once you set up such interviews, I advise you to ask people how they would answer the three questions above.

For example, you could ask the following questions:

• In your company, are there people who are really passionate about their work? What do they do differently than those who are mostly there to pay their bills?
• In your field, what are the key things that the most talented people do that differ from the ones who are merely competent?
• Is the compensation that people receive in this field satisfying or frustrating? What is the difference between people in your company who feel fairly compensated and the rest?

I know you could be thinking, “I couldn’t ask those questions.” Why not? They are questions that will initiate good discussions and you will get deep insights about the areas you are interested in. If you conduct 10 to 15 such interviews, you should be able to assess whether you will be happy working in those fields. You could be surprised that one of the interviews could lead to a new job or an internship that would allow you to immerse yourself more fully in the field. You never know!

As an employer, I am often impressed by people who stand out. You have to take charge of your success. But always keep in mind, success is a journey; not a destination.

Darshan Chandaria