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How do you prioritize?

A detailed account of a Fastlane process...

monnffffiiiiiii

Bronze Contributor
Speedway Pass
Oct 16, 2022
93
230
Do you use any methods/processes to prioritize?

The issue is complex as it is often twofold:

1. small short-term gains VS big long-term gains
2. certainty VS uncertainty

Hypothetically...

Let's say Mr. D. works as a freelance writer while building a fastlane venture.

Mister D. could scale his writing activity to max $5k/month working 10h/week instead $2k now working 40h/week. It's not much, but it's guaranteed money.

Meanwhile Mr. D.'s fastlane venture could make him millions in 3-5 years, but whether his venture will work or not is completely uncertain.

Mr. D. does not know if he should entirely focus on his fastlane venture and risk failing, entirely focus on his writing gig and scale it, or keep on doing both halfway hoping writing will sustain him until the fastlane venture works.

What should Mister D. do?

PS: I already asked chatgpt....
PPS: I welcome all answers, even the ones saying Mr. D. should quit writing and get a job instead, or change his fastlane venture to something more certain, etc.

Thx!
 
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Practic

Bronze Contributor
Speedway Pass
Nov 29, 2022
286
142
Do you use any methods/processes to prioritize?

The issue is complex as it is often twofold:

1. small short-term gains VS big long-term gains
2. certainty VS uncertainty

Hypothetically...

Let's say Mr. D. works as a freelance writer while building a fastlane venture.

Mister D. could scale his writing activity to max $5k/month working 10h/week instead $2k now working 40h/week. It's not much, but it's guaranteed money.

Meanwhile Mr. D.'s fastlane venture could make him millions in 3-5 years, but whether his venture will work or not is completely uncertain.

Mr. D. does not know if he should entirely focus on his fastlane venture and risk failing, entirely focus on his writing gig and scale it, or keep on doing both halfway hoping writing will sustain him until the fastlane venture works.

What should Mister D. do?

PS: I already asked chatgpt....
PPS: I welcome all answers, even the ones saying Mr. D. should quit writing and get a job instead, or change his fastlane venture to something more certain, etc.

Thx!
There is a branch of mathematics called multi-criterial optimization.
The main idea is you should develop criteria to evaluate your outcomes and risks and develop some procedure to measure them with a single variable.
When dealing with uncertainties of the future, the concept of expected value may be useful.
 

BizyDad

80% of small businesses fail. So start a big one.
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Oct 7, 2019
1,734
5,759
Phoenix AZ
Do you use any methods/processes to prioritize?

The issue is complex as it is often twofold:

1. small short-term gains VS big long-term gains
2. certainty VS uncertainty

Hypothetically...

Let's say Mr. D. works as a freelance writer while building a fastlane venture.

Mister D. could scale his writing activity to max $5k/month working 10h/week instead $2k now working 40h/week. It's not much, but it's guaranteed money.

Meanwhile Mr. D.'s fastlane venture could make him millions in 3-5 years, but whether his venture will work or not is completely uncertain.

Mr. D. does not know if he should entirely focus on his fastlane venture and risk failing, entirely focus on his writing gig and scale it, or keep on doing both halfway hoping writing will sustain him until the fastlane venture works.

What should Mister D. do?

PS: I already asked chatgpt....
PPS: I welcome all answers, even the ones saying Mr. D. should quit writing and get a job instead, or change his fastlane venture to something more certain, etc.

Thx!

Are Mr D's basic needs met for a "long enough timeline" (Either having enough savings, or income coming in elsewhere, to attempt to get this new business off the ground)?

Yes.

Then drop the writing and focus on the big thing.

No.

Then drop the big thing and focus on the writing.

If 10hr gets you 5k, then 40 hrs gets you 20k. The estimate is close enough. Just stack that cash for a year. Or two.

Then, with nest egg in place, scale writing back to 5hrs or 0 and now focus on the big thing.
 

Antifragile

Legendary Contributor
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
Mar 15, 2018
2,961
10,018
Do you use any methods/processes to prioritize?

The issue is complex as it is often twofold:

1. small short-term gains VS big long-term gains
2. certainty VS uncertainty

Hypothetically...

Let's say Mr. D. works as a freelance writer while building a fastlane venture.

Mister D. could scale his writing activity to max $5k/month working 10h/week instead $2k now working 40h/week. It's not much, but it's guaranteed money.

Meanwhile Mr. D.'s fastlane venture could make him millions in 3-5 years, but whether his venture will work or not is completely uncertain.

Mr. D. does not know if he should entirely focus on his fastlane venture and risk failing, entirely focus on his writing gig and scale it, or keep on doing both halfway hoping writing will sustain him until the fastlane venture works.

What should Mister D. do?

PS: I already asked chatgpt....
PPS: I welcome all answers, even the ones saying Mr. D. should quit writing and get a job instead, or change his fastlane venture to something more certain, etc.

Thx!
The quadrant for non-urgent but important activities is one of four quadrants in Steven Covey's time management matrix from his book "The 7 Habits of Highly Effective People". This quadrant represents activities that are important to achieving your long-term goals, but are not urgent in the sense that they have a pressing deadline. Examples of activities in this quadrant might include planning, learning, and relationship building.

To apply this quadrant to choosing your priorities, you should identify the activities in your life that fall into this category. These are the activities that may not seem pressing at the moment, but that are essential to achieving your long-term goals. Once you have identified these activities, you can prioritize them and make time for them in your schedule. This will help you to focus on the things that are truly important to you, rather than being constantly pulled in different directions by urgent but unimportant tasks. By prioritizing these non-urgent but important activities, you can work towards achieving your long-term goals and become a more effective and productive person.

How does it apply to your example above? What do you think?
 
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