"Things may come to those who wait, but only the things left by those who hustle."

-Abraham Lincoln

MJ Gottlieb takes a new and exciting approach on how to teach entrepreneurs. Learning from the mistakes of someone else’s experiences will save them from making similar mistakes in their entrepreneurial journey.

-Daymond John, ABC's "Shark Tank"

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Gordon Gekko Was Wrong

“The most valuable commodity I know of is information.”  Certainly a very powerful quote from the great film, Wall Street.

The only thing is, I think Gekko was dead wrong. Dead wrong about a lot of things he said, but let’s focus on this one. The thing I actually do give him (or his character) credit for is the three words, “I know of” After all, Gordon Gekko was certainly entitled to his opinion. Everyone is. To me, however, the most valuable commodity we have that “I know of” is TIME. Let’s take a look at why.

Time Gives Us Access To Information

If I had all the time in the world, I can get my hands on more information then I would ever need. In addition to what I am doing with my life now, if I had the time I could also…

Go to school and be a lawyer…

Be a doctor

Be an astronaut

Be  a Politician

Learn Chinese

Learn French

Learn Spanish

Travel to every country and continent in the world more than 178 times

… and a heck of a lot more. If I only had the time.

Time gives us access to information, and the information we have is limited ONLY by the time we have to spend on getting that information.

In Gekko’s case, he was being shady and corrupt and simply paying someone to get inside information. Let’s just say, however, the information he was paying for was legit. The key thing to keep in  mind is that he was paying to get information that he didn’t have the time to do himself. But what he did have is MONEY. How did he get a lot of money? He spent a lot of TIME learning how to make money.

Everything comes down to time management . We can either spend our time wisely or, quite simply, time will use us. It is our choice.

 Information Without Putting It To Use Is Useless

I don’t have the exact reference (I don’t have the TIME to find it) but I can tell you that there is significant scientific evidence that as human beings, we only tap into a very tiny portion of the information that we actually have stored inside of that thing between our ears called our brains.

It is the application of information that brings what we know to life and makes it useful. It is also a scientific fact that we know more ‘useless’ information then we know what to do with.

 Fear is Information Turned Bad

One example of useless information is fear. I call it information gone bad. Fear is the compilation of information we have that allows us to fantasize about things that simply do not exist. Where do we get fear? From information. Whether it is from movies we have seen, things we have heard in the street, it is all information we have gathered that we later use to make us afraid of something that doesn’t exist.

A friend of mine told me that scientifically, fear is defined as one of only two things: something we either hear or we feel. Jumping back when we hear a noise or, jerking our hands away when we put our hands on a hot stove would be scientific examples of fear. So, quite naturally, I asked him, “What’s all the other stuff then?” His answer… “It’s in your head.” Basically, information turned bad or, using information to hurt you instead of help you.  We will get on to fear in another post but all I can say is since he told me that, I have looked at things quite differently. Bottom line, information can work for us and it can work against us.

Time is Finite, Information is Infinite

To me, mastering my time is futile because it always beats me. It beats everyone. Nobody has ever beaten time. Why? Simple. Time is finite for every human being. Information, on the other hand, is infinite. We will never run out of information. We will die first. Don’t believe me? Try this…

I just Googled the word, “Time”. It has 12,380,000,000 results. Start with the first one and keep going until the end you are finished reading the last one. Hint: You’ll be a corpse before you read 5% of the information. Yet another example how time kills…

Doing The Best We Can

The trick is to figure out a way to take what is infinite (information) and put it to use the best we can in the finite world (time) we live in. Notice I said, the best we can.

When we are up against something that we can’t beat, all we can do is the best we can.

One Quick Note On Sleep

Personally, I think I have taken sleep as far as I can go without hurting my health. I tried to cut it even less but from a productivity standpoint, I saw the law of diminishing returns. I currently go to sleep at 1130 pm and wake-up at 5 am. It takes me thirty minutes to get to sleep (if I am lucky) so I have 5 hours if all goes perfectly. Some days I go a little less but I know not to push it as I feel it when it starts kicking my behind.

This begins my discussion on time, as it is one of my next literary projects so we will be getting into far greater detail as the months progress.

1) What are the three most important things you have learned managing your time?

 

2) How has technology been a time saver for you? What hardware and/or software programs and applications do you use that has given you the greatest advantages?

 

3) How much sleep do you get? Is it enough or too much? What do you think is your ‘effective’ sleep time?

Have a great day!

MJ

By on November 29, 2012
How to Ruin a Business
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-Foreward By:
-Daymond John,
-Co-host of ABC's Shark Tank


MJ Gottlieb

MJ Gottlieb

I want to start by telling you a bit of my personal background as I have found that to truly like, respect, and see the value of a company or brand, you really have to be able to relate to the people behind it.< Read more >
MJ Gottlieb
MJ Gottlieb
MJ Gottlieb

8 Comments

  1. David Farrell (@LeftofLeftField)

    November 29, 2012 at 5:46 pm

    MJ,

    I learned how much a person could achieve in their lifetime in religious life.

    In monasteries/seminaries, the schedule is strict. Rise at 6am. Lights out at 10pm. And a duty to fulfill every “moment” in between.

    The Saints are God’s entrepreneurs.

    St Alphonsus of Ligouri made a solemn vow to never waste a minute of the time God gave him. He wrote 90 books during his lifetime (before the advent of the printing press).

    The Holy Cure of Ars (St John Vianney) survived on 2 hours sleep a night for the last 20 years of his life, but his life is for our admiration, not our imitation.

    “Virtus in media stans.” Virtue lies in the middle (moderate) ground.

    Until we can handle moderation and “true” discipline? Forget about any gung-ho approach.

    Just as the main who is faithful in small things, will be able to control large things.

    Anyway, that’s enough now. I’ve got non-disciplinary and hypocritical activities to attend to.

    • MJ Gottlieb

      December 2, 2012 at 9:20 am

      Hey David,

      I love that quote you gave “Virtus in media stans.” I think it is a very important phrase for people to understand as so many of us (including myself on many an occasion) try to hit nothing but home-runs in verything we do.

      Thank you for your insight as always! Best-MJ

  2. Raymond modglin

    December 1, 2012 at 10:34 am

    Fear the

    MJ,
    I actually believe there two things wrong with your assessment and I believe Gordon Gekko was correct. First, he stated “….commodity….” A commodity is something that can be bought, sold, traded, control and mastered, time is none of those: therefore your assessment is wrong on basis that you are even considering time as a commodity. It is NOT. Thus, information is in fact the most valuable commodity. Secondly, time is not something that we, as humans, have an effect upon time but rather we are affected by time itself. Therefore, it cannot be controlled as it not a commodity. Overall, G.G. Is correct

    • MJ Gottlieb

      December 2, 2012 at 9:38 am

      Hi Raymond. Thank you for your comments and I am glad you bring up these two things. Here are my thoughts…

      The definition of commodity that you used is that of a product or service. In that case, you are absolutely correct. A commodity is also known as “something useful or valued” examples: patience> convenience> advantage and… TIME. That is the meaning I was referring to.

      Second, where you say time is not something we have an effect on, my article is actually about the fact that we do, as we can control “how we use our time”. You say we are affected by time itself and that time cannot be controlled. Again, I think is another big misconception we have. Though time is finite, life is about how we control our time (my opinion). We can decide how to use our time, and to ‘use our time wisely so it works for us as opposed to against us, or we can allow time to use us. It’s our choice.

      Thanks for the comments. Have a great one. Best- MJ

  3. Skip Prichard (@SkipPrichard)

    December 1, 2012 at 11:24 am

    MJ, you have so much packed into this post. Wow. I agree that time trumps information. What we do with that time is what makes the difference in our lives. (As to sleep, get as much as your body needs or you will pay the price. The extra hour isn’t useful if you’re so tired you are in a daze.)

    • MJ Gottlieb

      December 2, 2012 at 9:15 am

      Thanks Skip… Like you said, it is all about “what we do with that time”… I think the idea of “doing the best we can” is something many people are not satisfied with, compared to “getting the job done.” Truth is, no one has fully gotten the job done. We may have done what we needed today physically, but not mentally. Maybe the next day, physically and mentally but not spiritually… and the list goes on. All we can do (in my opinion) is “the best we can” and know that no matter how much we have completed, thankfully there is much more to do! … But to your credit, what we do with that time makes all the difference. Have a great day! Best- MJ

  4. Homo Homini Lupus

    February 28, 2014 at 12:11 pm

    Gekko himself says in the sequel to “Wall Street,” “Money Never Sleeps,” that the greatest commodity is time. Excellent character, who (when both movies are taken together), isn’t wrong about very much at all.

    • MJ Gottlieb

      March 1, 2014 at 9:50 am

      Thanks my man. I’m glad he doubled back around and said that! He seems to have all the bases covered now. Thanks again. Best- MJ

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