Elon Musk’s Six Rules of Productivity
In a world where everyone is striving to be more productive, few names stand out like Elon Musk. Known for juggling multiple billion-dollar ventures—Tesla, SpaceX, and more—Musk has proven time and again his mastery of time management and productivity. While many may wonder what his secret is, Musk’s “Six Rules of Productivity” offer a rare glimpse into his approach to getting more done in less time.
These aren’t complex or unattainable strategies. They’re simple, actionable rules that any professional can implement. Yet, as Chris Donnelly pointed out in a recent newsletter, many people fail to take advantage of these insights. Let’s explore these six rules and how they can transform your productivity.
1. Avoid Large Meetings
Large meetings often become inefficient, diluting the conversation and leaving attendees disengaged. Musk suggests only holding large meetings when they’re genuinely beneficial for all involved. For financial advisors, this could mean rethinking large team meetings or client calls. Keep it small and focused to maintain clarity and momentum.
2. Leave if You’re Not Needed
This may sound harsh, but it’s a powerful time-management strategy. If you’re in a meeting where your input isn’t necessary, don’t hesitate to leave. Your time is your most valuable resource, and spending it where you’re not contributing is a waste. In an industry like financial services, where time equals revenue, this could make a significant difference in your daily output.
3. Talk Directly
Communication is often bogged down by formal chains of command or unnecessary intermediaries. Musk advocates for direct communication to speed up decision-making and reduce the risk of miscommunication. Advisors can apply this rule by encouraging direct client communication and cutting out middlemen to resolve issues faster.
4. Be Clear, Not Fancy
Jargon and buzzwords are common in professional settings, but they can muddle communication. Musk believes in clear, concise language. The same goes for advisors—clients want to understand your financial advice without the fluff. Clear communication builds trust and ensures everyone is on the same page.
5. Cut Down on Meetings
Meetings can quickly become productivity killers, especially if they’re frequent and unfocused. Musk suggests minimizing meetings and using quicker communication tools like voice notes or Loom videos. Financial advisors can adopt this approach by substituting lengthy check-ins with clients for short, concise updates delivered through more efficient mediums.
6. Use Common Sense
While processes and protocols are necessary, Musk reminds us that applying common sense should always take precedence. When a rule or policy doesn’t make sense in a given situation, adapt. This flexibility is critical in a fast-paced environment like financial services, where each client’s needs are unique.
Applying These Rules in Financial Services
As a recruiter in the financial services industry, I’ve seen firsthand how applying these simple principles can drastically improve productivity for both advisors and their firms. Whether you’re managing client relationships or growing your practice, following these six rules can streamline your daily workflow, improve communication, and free up valuable time for what matters most.
Start with just one rule—perhaps cut down on meetings or focus on clarity in communication. As you integrate each principle, you’ll notice a sharp increase in efficiency, just like Chris Donnelly did. These aren’t just tips; they are tools for achieving a competitive edge in an industry where time is money.
