515. Effective vs Efficient - What to Do, How to Do It.

From a state of complete rest, become effective. i.e. engage only in those activities that move you closer to your goals. Simply doing something unimprtant very well does not ever make it into something important. Learn to distinguish between what is effective and that which is merely efficient. Efficient gets the job done. Effective advances your plans.

In financial terms, effectiveness means gaining maximum income from the minimum necessary effort and this includes the minimum number of customers. Apply Pareto's Rule, (The 80:20 Rule) and eliminate the 80% that cause you the most effort.

478. Passive Income

It does not matter where you earn your money or what job you have. What matters is that you convert the maximum percentage of it into portfolio and passive investment as efficiently as possible.