Jun 1, 2022
The One Thing w/ Jay Papasan of Keller Williams Realty
- BRT S03 EP22 (122) 5-29-2022
Things We Learned This Week
- The One Thing – Power of Focus, Find your 1 thing - Live Purposefully & be Accountable
- Dominos - Priority in Latin = First, what is your first Domino? knock it down and all others lined up will fall
- Time Block - Focus Time the first few hours of each day, 'Battleground' - fight to block out this time
- Success has a Roadmap – it leaves clues, Modeling & Develop Habits in Life, Bus & Real Estate Investing
- Productivity Thieves - Learn to Say No, pick tasks carefully, Multitasking is a Waste of Time
Guest: Jay Papsan, VP of Keller Williams Realty
https://www.linkedin.com/in/jaypapasan/
https://twitter.com/jaypapasan
Jay Papasan is a bestselling author and serves as vice president and executive editor at Keller Williams Realty Inc, the world’s largest real estate company. He is also co-owner and co-founder of several successful businesses, including Keller INK, Keller Capital, and, alongside his wife Wendy, Papasan Properties Group in Austin, Texas.
When Jay first moved to Austin, he joined Keller Williams Realty Inc, and soon began working directly with the founder, Gary Keller. In 2003, he co-authored The Millionaire Real Estate Agent alongside Gary Keller and Dave Jenks. The resounding success of the book, which focused on the systems, models and tactics used by the nation’s top real estate sales agents, became a national bestseller in 2004 and went on to sell more than a million copies. In 2015, they follow up with a another national bestseller, The Millionaire Real Estate Investor. Having landed on a formula for providing insight and practical strategies for success, the authors produced a series of books that found their way on to numerous bestselling lists, including those found on The Wall Street Journal, USA Today, and The New York Times.
The books he’s co-authored have collectively sold over 3.5 million copies. His most recent work with Gary Keller on The ONE Thing has sold over a million copies worldwide and garnered more than 500 appearances on national bestseller lists, including #1 on The Wall Street Journal’s hardcover business list.
Jay resides in Austin, TX, with his wife, Wendy, their children, Gus and Veronica and their dog Taco.
The message of The One Thing has resonated around the world. Professionals everywhere are searching for meaning in their work, clarity around their priorities and everyday productivity without stress and complexity.
Notes:
Jay’s background as a writer
Keller Williams Real Estate
Working with Gary Keller
Business lessons from Gary Keller
One Thing book – focus and dominos – Focus Q ‘What’s the One Thing…’
Time Blocking – prioritize, you better be #1 item on Gary Keller meeting list
Success has a roadmap
Habits over willpower
6 Lies of Success – multitasking, balanced life
Dominos visual – one 3 inch domino can knock over a tall building
3 Commitments – mastery mindset
Productivity Thieves – need to say No
Millionaire Real Estate Investor book – thing big, take luck out of the equation
5 Models of millionaire real estate investors:
Net Worth, Financial, Network, Lead Generation, and Acquisition
Criteria, Terms, Network
Buy a Million…
Net Worth – myths of just having a job will get you financially secure
Jay as a real estate investor
Lessons from investing – spend less than you earn, save the rest
Compounding – save and invest $ early and watch it grow
Seg. 4 – Netherlands lined up 4.9 million Dominos, world record.
(35 m) – Real domino effect (1983)
Lorne Whitehead – domino (2 “) can knock over one that is 50% bigger (3 “)
18th domino knock over Leaning Tower of Pisa
23rd domino knock over Eiffel Tower
33rd domino - Mt. Everest
57th domino – Earth to Moon size domino
Growth seems small, but actually grows fast
Hockey stick – exponential growth – elbow of curve gets explosive growth
KW 10 yrs at 50% per – like IPO of a company, ‘overnight success’
Line up your dominos, what’s 1st thing to do? What do we need to focus on to make it all easier?
Archimedes and Leverage – give me a lever and I can move Heaven and Earth.
(37 m) – For each action in the process, ask…does this help complete the One Thing? Does it help the main priority?
From Tim Ferris (Book – 4 Hour Work Week)
Delegate, Delete or Delay
Delegate to assistant, Delete to Trash, or Delay (rarely)
**Start day with a few hours of ‘focus time’
Your #1 priority in business - it’s a battleground – fight for that time.
Meeting of one to focus on your work
Preserve that time – say no to distractions
Captain of British Rowing Time – story from 2000.
(39 m) – Q: Will it make the boat go faster? Answer: No = don’t do it. Becomes mental mantra
Key to marriage: Don’t go to the pub, come home.
Hard to operate hour to hour with singular focus, so keep #1 in mind and balance.
Write down and develop habits to build behavior behind it (#1) – i.e.: track net worth.
Priorities - you must have, focus
Steve Jobs – Productivity Thieves – need to say ‘NO’ to things, stick to priority
(41 m) - *6 Lies of Success – example: multitasking. If multitasking, no focus, drains you.
Myth of multitasking
Clifford Nass studied multitasking – 300 students at Stanford. Two groups doing 6 tests, non-multitasking performed better. High multitaskers were suckers at irrelevancy
Switch tasking – see squirrel, survival trait, can do simple switch but constant reorientation lose 28% of your day – ¼
(44 m) – You perform worse than being stoned and can take 100% longer. Longer on 2nd task, less likely to get back to main task. Very shallow and wide, loose ends. No depth – One Thing is depth. Get The One Thing do, no multitasking. Each day is a victory. No multiple tabs open on screen, do this
(47 m) - * Addicted to getting #1 done
Day Before Vacation Miracle’ – you get a lot of stuff done that day, you’re focused, motivated. Capable of long period of time of highly focused work – can do it 30 minutes to 1 hour + per day. Do not want your laptop on the beach.
Anything not worth doing is not worth doing well.
(48 m) – 411 List – Big Rocks only on this list – the 20%. The other 80% (junk) on another list. Email; is a must daily – have to do it. But do it triage style, check 3x a day.
Batching – batch 80%lesser priority items with time limit. Email inbox is time machine, can rob time. Emails after 7:30 pm, reply after 8:30 am the next day.
(51 m) – Gary rec books – 80/20 Principle, the1thing.com, or Google Jay Papasan.
“Anything not worth doing, is worth not doing well.” - Robert Fulghum quote
‘We are the average of the five people we spend the most time with.’
– Jim Rohn
"Give me a place to stand (lever), and I will move the world." - Archimedes is said to have promised
Keller Williams Co-Founder Gary Keller Shows his Most Influential Books
Link: HERE
Trammel Crow - Master Builder
Unlimited Power - Tony Robbins
Masters of Enterprise – HW Brands
Roaring 2000s - Harry Dent
80/20 Principle – Richard Koch
Sam Walton – Made in America
Behind the Arches – John F Love
Pizza Tiger - Tom Monaghan
Additional Resources:
Domino Chain Reaction (geometric growth in action) 10/2009
Link: HERE
The Bigger They Are (1983)
Link: HERE
In 1983, University of British Columbia physicist Lorne Whitehead noted “a simple and dramatic demonstration of exponential growth, as in a nuclear chain reaction.” He determined that one domino can knock down another that’s about half again as large in all dimensions; since the gravitational potential energy of an upright domino is proportional to the fourth power of its size, this means that one tiny domino can set off a graduated chain reaction with impressively thunderous results.
Whitehead’s first domino was less than 10 mm high; he nudged it with a piece of cotton. The resulting chain reaction brought down a 13th domino that was 64 times as tall; an investment of 0.024 microjoules at one end had released 51 joules of energy at the other, an amplification factor of about 2 billion.
Of course, it’s possible to construct impressive chains of graduated dominoes even if they grow less dramatically than this one. Here’s a world record set in the Netherlands in 2009:
Wealth Building with the One Thing & the Millionaire Series
| Jay Papasan | Talks at Google (11/2016)
Link: HERE
Jay Papasan is the vice president of publishing and executive editor at Keller Williams Realty, Inc. In 2003, with the release of The Millionaire Real Estate Agent, co-authored by Gary Keller and Dave Jenks, Papasan became a best-selling author when the book spent time on BusinessWeek's best-seller list. In 2005, they co-authored their second bestseller, The Millionaire Real Estate Investor. After working on Rick Villani and Clay Davis's best-selling FLIP: How to Buy, Fix and Sell Houses for Profit in 2007, he co-authored Your First Home with Gary Keller and Dave Jenks in 2009.
His latest book, The ONE Thing, co-authored with Gary Keller, came out April 1, 2013 and debuted at #6 on the Wall Street Journal bestseller list and reached #1 on May 3, 2013. Since then it has made more than 300 appearances on national bestseller lists and has been translated into 24 languages.
Jay's presentation will tap into in-depth research with over 120 millionaire real estate investors and draw a straight path based on what they all have in common. That’s The Millionaire Real Estate Investor. And we can organize using the principles of The ONE Thing—itself a 5 year research journey into the common approach found among top performers across both investing, industry, athletics and even the arts.
Jordan Thibodeau moderated this Talks at Google event.
The ONE Thing by Gary Keller & Jay Papasan – book summary
The Book in Three Sentences
- The ONE Thing is the best approach to getting what you want.
- Success is a result of narrowing your concentration to one thing.
- Success is built sequentially, one thing at a time.
The Five Big Ideas
- Not everything matters equally.
- Multitasking is a lie.
- Discipline is a result of habit.
- Willpower is a finite resource.
- Big is bad.
Link: HERE
Archimedes and the Simple Machines That Moved the World
LINK: HERE
"Give me a place to stand," Archimedes is said to have promised, "and I will move the world." In this perhaps apocryphal quote, the Greek mathematician, scientist, and inventor was discussing the principle of the lever and fulcrum, but he could very well have been describing his whole career. In addition to his mathematical studies and his work on buoyancy, Archimedes contributed to knowledge concerning at least three of the five simple machines—winch, pulley, lever, wedge, and screw—known to antiquity. His studies greatly enhanced knowledge concerning the way things work, and his practical applications remain vital today; thus he is aptly named the "father of experimental science."
Myth of Multitasking – Clifford Nass Research
Link: HERE
In his book The One Thing, Gary Keller sites a 2009 study conducted by Clifford Nass, a professor at Stanford University, designed to determine what made for a great multitasker. The 262 test subjects were divided into two groups. One was made up of high multitaskers. The other was low multitaskers. The assumption was the multitaskers would outperform the other group.
Nass was wrong. It turned out the high multitaskers were outperformed on every measure. While they were all convinced they were great at doing two things at once, the research clearly showed they were lousy at it.
When you try to do two things at once, you either can’t do it or you won’t do either task as well. It is a recipe for losing efficiency and effectiveness. Why? Your brain is hardwired to focus on one thing at a time.
Tim Ferris – The 4 Hour Workweek book summary
Link: HERE
Real Estate Topic:
https://brt-show.libsyn.com/category/Real+Estate-Construction-Land-Farming
Investing Topic:
https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement
‘Best Of’ Topic: https://brt-show.libsyn.com/category/Best+of+BRT
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