Why You're Not Getting Anything Done: MINS
It's apparent that vision without action is nothing. Vision paired with action will turn the dream into reality. However, I would even take it a step further and add that a vision needs to be paired with the right action, not just any action. In order for progress to happen, specific tasks need to be completed, not busy work. MINS are the specific tasks that allow someone to move forward.
In order to accomplish a goal, however big or small, it can always be broken down into a list of tasks. For example, a goal could be to increase sales by 10% over the next quarter. This goal could be broken down into the following tasks: making 100 cold calls, replying to emails, hiring an employee to delegate, paying bills, attending sales events, etc. Although all of these tasks need to be completed at some point, not all of them will increase progress. Making 100 cold calls will directly lead to increased sales. Paying bills does not lead to sales. MINS are the Most Important Next Step. MINS are specific tasks that once completed, increase progress.
MINS are essential because they differentiate busy work from important tasks. MINS are the most effective when implemented daily. It is highly suggested that every day, someone creates a task list, also called a to-do list. This list encompasses everything that needs to be done that day. Then, they filter through the list and select no more than three (3) tasks to be the MINS for that day. The goal is to complete those three MINS. These tasks may be simple or they may be very complex, but these should be done first and have full focus. Once these are completed, work on the other items on the task list. This ensures that progress is made every day.
MINS apply to all individuals in all stages. MINS are critical for owners and operators who consistently have a backlog of work, but also for limited partners who still have tasks to complete to earn passive income. Although the limited partners don't need to find, put together and execute the business plan for a property, they do need to vet the sponsor, the deal, and the market. These tasks should be implemented with MINS to get to the desired outcome - financial freedom.
I, Cole Farrell, the writer of this blog and the founder of Volcan Capital can attest to the incredible power of MINS. Before MINS, I would be constantly busy, always working, but I couldn't seem to make much substantial progress. When I finally did make substantial progress, it was only after mountains of time and effort. Although this is logical, it's not the most effective or best use of time.
I learned about MINS from a friend of mine while taking a bullet journaling class he offered (another way to send results to the stratosphere). I began implementing MINS when all I had at the time was a duplex, $200 in my bank account, and a vision. I began to implement MINS daily and experiment. I created daily MINS on a post-it note and played with the difference between doing them and not. I soon realized the immense power of MINS which I grew to understand is simply focus. To this day, I still write all my daily tasks on a post-it note every morning and choose three MINS for that day. I always think "Which of these tasks will get me one step closer to my goal? Which of these tasks will actually have an effect on my results?"
By implementing MINS, I have since increased passive income by 5x, co-created a successful flipping company, built a successful local real estate meetup, launched this multifamily syndication company, and more. There is no telling the power of focus from implementing MINS.
MINS are a very simple concept to understand and put into action, however, too often people do not actually implement them. Not only do MINS increase productivity and progress, but they also condition the brain to focus on important tasks, tasks that move the needle. Daily MINS can be the pivot point to turn an overloaded professional into a high-yielding executive.