The Three Islands concept – which island are you?

The Three Islands concept below is a metaphor that can
benefit anyone, from those who are just starting out in their careers, or have recently
launched a business, right through to those who are managing a successful
company.  

The Three Islands
concept

Visualize three islands (A, B and C), each with the exact
same resources (e.g. people, water, minerals, trees, etc.)

Now

• The people on Island A consume
  all of their resources and throw a giant party – conditions on the island are fantastic!


• The people on Island B consume most of their resources and
  use the rest to maintain their island
  – conditions on the island are pretty good.


• The people on Island C consume some of their resources and invest the majority in improving their
  island (establishing running water, supplying heat etc.) – conditions on the
  island are okay.

 --- time passes… ---

Then

• Sadly, almost all the people on Island A are now deceased and
  life is hard for those that remain – conditions
  on the island are horrible.


• Life on Island B is exactly the same as it was years ago – conditions on the island are pretty good.


• The people on Island C are celebrating, as they are now
  reaping the benefits of their earlier investment – conditions on the island are fantastic!

Obviously no one wants to live their life like the people on
Island A, but I encourage you to find the right balance between Island B and
Island C for you. Be sure to think more broadly than just how you use your
income; also consider how you use your time (both inside and outside of business),
as well as how and when you will retire.

I first learned about the Three Islands concept when
studying my undergraduate degree in business and am very grateful, as I feel
that the application of its lessons has contributed immensely to my success.

Action trumps everything - Act. Learn. Repeat.

I recently read the book Action Trumps Everything, which outlines a proven method that “entrepreneurs use for navigating in an uncertain world”. Putting it simply, the approach is: Act. Learn. Repeat.

To give you a little more detail, the authors state that the only way to navigate in an uncertain world is as follows:

Step 1. Make sure what you are about to do is something you really care about. It’s silly to launch into the unknown if you don’t.

Step 2. Don’t over-think. Don’t imagine what might happen. Get started with what you’ve got in hand and take a small, smart step toward your goal and find out.

Step 3. Evaluate what you learn, and if you like the results take another step.

I have often considered documenting the lessons that I have learned throughout my career and so, in the spirit of Action Trumps Everything, I created this blog. I am going to use it as a way of documenting and sharing the lessons that have made me successful.

Someone once told me that “Experience teaches nothing. Evaluated experience teaches everything”. This blog is my approach to evaluating my experiences; I hope you get as much out of it as I know I will.