Tuesday, July 18, 2006

Practice/habit ratio

3:20

Here's an interesting exercise to see how fast your life (especially your economic/financial life) will improve.

Count the number of hours that you spend, every day, executing a habit. Then count the number of hours you spend practicing a certain activity (it should be an activity that you are getting paid for).

The ratio of practice-hours to habit-hours gives you an indication of how much money you might be leaving on the table. In other words, the greater your practice-hours (compared to your habit-hours), the faster you are improving, and this usually has a positive impact on how much you earn. (The best professionals or executives always earn more and more over time).

For example, if you spend one hour per day practicing something, and 7 hours just going through the motion of a habit, then your ratio is 1:7.