Monday, September 21, 2020

Common Cents # 22 - Work Smarter, Not Harder

 

 

“A little sleep, a little slumber, a little folding of the hands to rest, and poverty will come upon you like a robber, and want like an armed man.” Proverbs 6: 10-11. Part of the American myth is that if laziness leads to poverty, then surely, hard work will lead to wealth. Part of the argument against slavery before the Civil War was that a free man would work harder for his own benefit than a slave would under compulsion. The labor union movement came about as more and more people realized that hard work alone did not bring prosperity, especially to the workers.

I mentioned to my friend Eric, that I was taking a class called, “The Master Guide to Financial Reporting and Analysis using Microsoft Excel,” and that I really didn’t know why. I didn’t need it for my business, and I wasn’t looking for a new job. He mentioned the class to his wife who reminded us that we cannot know too much, every skill enhances our lives. Every new skill or bit of knowledge improves our lives, sometimes financially, but always in every other way.

I am reminded of the story about Steve Jobs taking a college class in calligraphy. It was a totally random elective, but he was so enthused about fonts and letter design that when the Macintosh operating system was being developed, he insisted on a wide variety of fonts and customizable type. Because of that one class, our use of computers and design is completely different than it might otherwise have been.

Most new businesses, innovations, and successes come from the combining of seemingly unrelated fields. It is this combining of skills and knowledge that lead to success, not working harder.

Our quality of life is determined by the skills we have, the variety of things we can do, and the knowledge of many different fields, not by how many hours we work or the number of widgets we can get on the truck. As the songwriter Hoyt Axton sang, “Work your fingers to the bone, what do you get? Boney Fingers, Boney Fingers.” Clearly, working smarter not harder gives a better outcome.

The income gap between people with college education and those with only High School or less is widening quickly. This is almost certainly because of skills, not work ethic. The greatest thing we can take away from formal education is the desire to learn new things and the desire to develop new skills.

The writer of Proverbs, Solomon, goes on to say in Ecclesiastes 10:10, “If the axe is dull and its edge unsharpened, more strength is needed, but skill will bring success.” In other words, take time to sharpen your axe.

Jim Mathis

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