Bill Gates, Warren Buffett, and Oprah Winfrey A...

Bill Gates, Warren Buffett, and Oprah Winfrey All Use the 5-Hour Rule

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Top business leaders often spend five hours per week doing deliberate learning.

http://www.inc.com/empact/bill-gates-warren-buf...

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In the article “Malcolm Gladwell Got Us Wrong,” the researchers behind the 10,000-Hour Rule set the record straight: Different fields require different amounts of deliberate practice in order for someone to become world-class.

If 10,000 hours isn’t an absolute rule that applies across fields, what does it really take to become world class in the world of work?

Over the past year, I’ve explored the personal histories of many widely admired business leaders, including Elon Musk, Oprah Winfrey, Bill Gates, Warren Buffett, and Mark Zuckerberg, in order to understand how they apply the principles of deliberate practice.

What I’ve done does not qualify as an academic study, but it does reveal a surprising pattern.

Many of these leaders, despite being extremely busy, have set aside at least an hour a day (or five hours a week) over their entire career for activities that could be classified as deliberate practice or learning.

I call this phenomenon the five-hour rule.

How the best leaders follow the five-hour rule
For the leaders I tracked, the five-hour rule often fell into three buckets: reading, reflection, and experimentation.

1. Read
According to an HBR article, “Nike founder Phil Knight so reveres his library that in it you have to take off your shoes and bow.”

Oprah Winfrey credits books with much of her success: “Books were my pass to personal freedom.” She has shared her reading habit with the world via her book club.

These two are not alone. Consider the extreme reading habits of other billionaire entrepreneurs:

Warren Buffett spends five to six hours per day reading five newspapers and 500 pages of corporate reports.
Bill Gates reads 50 books per year.

Mark Zuckerberg reads at least one book every two weeks.

Elon Musk grew up reading two books a day, according to his brother.

Mark Cuban reads more than three hours every day.

Arthur Blank, co-founder of Home Depot, reads two hours a day.

Billionaire entrepreneur David Rubenstein reads six books a week.

Dan Gilbert, self-made billionaire and owner of the Cleveland Cavaliers, reads one to two hours a day.
​Want to read books recommended by leaders such as Bill Gates, Mark Zuckerberg, Sheryl Sandberg, and Elon Musk? I created a report that highlights the most-recommended books of 60 top CEOs, entrepreneurs, and leaders.

2. Reflect
Other times, the five-hour rule takes the form of reflection and thinking time.

AOL CEO Tim Armstrong makes his senior team spend four hours per week just thinking. Jack Dorsey is a serial wanderer. LinkedIn CEO Jeff Weiner schedules two hours of thinking time per day. Brian Scudamore, the founder of the $250 million company O2E Brands, spends 10 hours a week just thinking.

When Reid Hoffman needs help thinking through an idea, he calls one of his pals: Peter Thiel, Max Levchin, or Elon Musk. When billionaire Ray Dalio makes a mistake, he logs it into a system that is public to all employees at his company. Then, he schedules time with his team to find the root cause. Billionaire entrepreneur Sara Blakely is a long-time journaler. In one interview, she shared that she has more than 20 notebooks in which she logged the terrible things that happened to her and the gifts that have unfolded as a result.

If you want to reflect on what you’re learning with others, join this Facebook group.

3. Experiment
Finally, the five-hour rule takes the form of rapid experimentation.

Throughout his life, Ben Franklin set aside time for experimentation, masterminding with like-minded individuals, and tracking his virtues. Google famously allowed employees to experiment with new projects during 20 percent of their work time. Facebook encourages experimentation through Hack-a-Months.

The biggest example of experimentation might be Thomas Edison’s. Even though he was a genius, Edison approached new inventions with humility. He would identify every possible solution and then systematically test each one of them. According to one of his biographers, “Although he understood the theories of his day, he found them useless in solving unknown problems.”

He took the approach to such an extreme that his competitor, Nikola Tesla, had this to say about the trial-and-error approach: “If [Edison] had a needle to find in a haystack, he would not stop to reason where it was most likely to be. He would proceed at once with the feverish diligence of the bee to examine straw after straw until he found the object of his search.”

The power of the five-hour rule: improvement rate
People who apply the five-hour rule in the world of work have an advantage. The idea of deliberate practice is often confused with just working hard. Also, most professionals focus on productivity and efficiency, not on improvement. As a result, just five hours of deliberate learning a week can set you apart.

Billionaire entrepreneur Marc Andreessen poignantly talked about improvement rate in a recent interview. “I think the archetype/myth of the 22-year-old founder has been blown completely out of proportion … I think skill acquisition, literally the acquisition of skills and how to do things, is just dramatically underrated. People are overvaluing the value of just jumping into the deep end of the pool, because the reality is that people who jump into the deep end of the pool drown. There’s a reason there are so many stories about Mark Zuckerberg. There aren’t that many Mark Zuckerbergs. Most of them are still floating face down in the pool. And so, for most of us, it’s a good idea to get skills.”

Later in the interview he adds, “The really great CEOs, if you spend time with them—you would find this to be true of Mark [Zuckerberg] today or of any of the great CEOs of today or the past—they are really encyclopedic in their knowledge of how to run a company, and it’s very hard to just intuit all of that in your early 20s. The path that makes much more sense for most people is to spend five to 10 years getting skills.”

We should look at the five-hour rule the same way we look at exercise
We need to move beyond the cliché, “Lifelong learning is good,” and think more deeply about the minimum amount of learning the average person should do per day to have a sustainable and successful career.

Just as we have minimum recommended dosages of vitamins and steps per day and of aerobic exercise for leading a healthy life physically, we should be more rigorous about how we as an information society think about the minimum doses of deliberate learning for leading a healthy life economically.

The long-term effects of not learning are just as insidious as the long-term effects of not having a healthy lifestyle. The CEO of AT&T makes this point loud and clear in an interview with The New York Times; he says that those who don’t spend at least five to 10 hours a week learning online “will obsolete themselves with technology.”

— This article was written by Michael Simmons, co-founder of Empact, with Ian Chew and Shizuka Ebata.

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Are You Talking To Your Employees All Wrong?

http://www.forbes.com/sites/alankohll/2016/06/2...

10 Powerful Ways To Empower Your Employees

Give employees generous boundaries.

Contrary to conventional wisdom, boundaries don’t restrict team members; they empower them. Define the boundaries within which an employee can make his or her own decisions. In doing so, you give them freedom to act.
For example, if you allow a customer service rep to spend up to 20% of a customer’s annual fees on keeping that customer happy, you enable the rep to solve a problem without consulting a manager (and slowing down the service provided).
Tips from Bruce Kasanoff’s 10 Powerful Ways To Empower Your Employees.

Listen intently.
Too many managers try to get employees to say what they want to hear. “Tell me we will hit our sales target.” This is nonsense. It is far wiser to listen carefully for the truth… and then change your behavior in response to that truth.
Believe in your employees.
The best managers get outstanding performance from ordinary human beings. If you wait for a team of superstars, you will be waiting forever. Discover what each person does best. Find better ways for people to support each other. Bring people together to support and encourage each other. Then believe 100% in these partnerships and collaborations.

Forgive mistakes.
If your team isn’t making mistakes, then you aren’t reaching high enough. But if you punish mistakes, you will encourage overly conservative behavior. Establish clear differences between acceptable mistakes versus mission-critical offenses. Example: It is OK to test a new advertising method and discover it does not work; it is never OK to engage in false or deceptive advertising.

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biggrin smile I am motivated. Now it’s my 12th class and I will read all the fcckkiing novels and throw all my NCERTs surprised smile
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@Joker wrote:

biggrin smile I am motivated. Now it’s my 12th class and I will read all the fcckkiing novels and throw all my NCERTs surprised smile

U choosen name Joker while joining DD ?
or u were Joker even b4 joining DD ?

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