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Wisdom of the crowd - Smarter Faster Better by Charles Duhigg

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Short Summary

Main recommendation: Combine a big "stretch goal" with SMART goals, and plan ahead for distractions, to get big things done. The video draws on Charles Duhigg's book, frames this as a three-part process: motivation, goal setting, and focus, and separately cites an older Harvard study (described by the presenter as outside the book) to argue that written goals with a plan lead to much better outcomes.

Key Points

  • Motivation grows when everyday tasks are tied to deeper values and a big vision, such as building a business or achieving financial independence.
  • SMART goals (specific, measurable, achievable, relevant, time-bound) are useful but tend to become a to-do list that limits thinking big.
  • Stretch goals are large, ambitious goals used as a guide for setting the SMART goals that form the concrete plan.
  • Staying focused requires predicting likely distractions in advance and deciding ahead of time how to avoid them.

Details Worth Noting

  • Concrete instructions:
    • Motivation: Ask yourself what the big goal and the big reason for the task are, and link the current action to that reason.
    • Stretch goal: Write one large, ambitious goal first (the speaker's example: "build a profitable and successful business").
    • SMART check: Test each SMART element against the stretch goal. The speaker's example is "write a business plan," which is specific, measurable, achievable (others have done it), relevant (a key step to building a business), and time-bound (a set deadline, July 8th).
    • Distractions: Predict which distractions will arise, then plan to avoid them. Examples from the speaker: turn on a Chrome extension called News Feed Eradicator to remove the Facebook news feed and replace it with a motivational quote; do not check email during work, and instead set one hour in the evening to handle all email.
    • Focus session: Set an alarm for a fixed block of time (the speaker used one hour) and work without allowing distractions.
  • The speaker cites General Electric, whose executives credited success to every employee writing SMART goals, but the speaker argues SMART goals alone limit big thinking.
  • The Harvard study cited by the presenter (not from Duhigg's book): 84% had no goals, 30% had goals but did not write them down, and 3% wrote goals down with a plan; the presenter also says the 13% with goals earned double the 84% without goals, and after ten years the 3% with written goals and plans earned about ten times the average of the other 97% combined (the stated percentages don't add up and conflict with each other).
  • The speaker's own action step is to set a stretch goal, then SMART goals to achieve it.

Bottom Line

Writing down a big ambition, breaking it into specific time-bound steps, and planning around distractions in advance is presented as the practical way to turn motivation into results.

Facts

  1. According to Charles Duhigg's book, a 'stretch goal' is a large, ambitious goal used to guide smaller SMART goals.

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