Young people for the last generation or two have been following a cookie-cutter path, sometimes blindly, of completing high-school, going to college, getting a job…
Although it may seem like a strict plan, those are not good times in your life to be a walking zombie!
The decisions made during that period of your life are hugely important INVESTMENTS.
Obviously, earning a 4-year degree in college is a huge investment of time (4 years) and money (all that tuition, and possibly interest on loans). The trade-off is that this should enable you to get a job that you wouldn’t be able to get without the degree, and hopefully a lifetime of higher compensation.
Don’t go to college and pick a random or easy major just so you can make it through. And if/when you graduate, don’t just pick a random job just for the sake of having one. Again – those decisions are investments.
Think of all the industries that have changed since you were a kid. Do you remember telephone operators, photo developers, travel agents, stock brokers, factory workers or beeper salespeople (thanks 30 Rock!)?
Most of those people don’t have those same jobs anymore. Any training, experience and skills they accrued during their time performing those jobs became completely worthless. Most were eventually forced to start over from scratch, a lucky few may have figured out some way to evolve.
Much like investing in a company belonging to any of those industries back then, those workers’ investments of time and effort learning job-specific skills ended up worthless.
Remember taxis? They were dispatched by the same walkie-talkie systems for decades. Then Uber came up with a way to revolutionize on-demand transportation and in just a few years has made taxi medallions worth a fraction of what they used to be. Instead of evolving and thinking about how to stay ahead, the cab companies are now becoming obsolete.
The lesson is:
When deciding among companies and industries to invest your work-self, always be thinking about the future.
And it doesn’t end when you first select your career. If you manage to pick a company and industry that are up-and-coming, congratulations, but always remember that everything can change quickly.
Like a good business person, you should always be evaluating and anticipating changes in your industry. And you should always be thinking about how you can adapt to those changes. If you’re like most of us, your greatest asset – the one that will make you the most money throughout your life – is your time. Invest it wisely.
-DD
Read more about the value of your time
