Tuesday 16 February 2016

Book Review "Eat That Frog - Brain Tracy"

This video was created for my opinion blog but I am also posting it on my investing blog. If you are not interested in opinion blogs don't press subscribe button present in video.

Amazon Link : http://amzn.to/217YbzL 
Flipkart Link : http://fkrt.it/VeOpcuuuuN
Transcript :
Hi guys Nrupen here, on 16th January means last month I went to Sharekhan Investor Training Seminar, where on my earnings, savings and investing score card I took 18/30, it was concluded that I actually know and actively try my best to learn manage and grow money.

I also take action but I fail big time, money comes at door and returns because of failed execution resulting in bad financial situation. I agreed to conclusion, time and time again I suffer from failed execution of my plans.

Due to which my financial condition isn't well nor my business is growing and failure is sitting on my head since last 5 years. They recommended me to read book, “Eat That Frog” by “Brian Tracy”. They claimed this book will help me improve my time management plus plan execution.

The sales page of book also claims to increase productivity and doubling or tripling the income in a month or two. I completed the book in 5 days and implemented whatever I learned for 20 days. So in this video I'll  present review of this book based on last 20 days of implementation.

The book have total 21 chapters. Chapter 1 and 2 are on scheduling and creation of task list. Chapter 3 to 10 are on execution of tasks in your list. Chapter 11 to 17 are on improving your overall performance and rest chapters are again on execution and implementation of plans.

In short the book tells everyday when you wake up you have 2 batteries. Battery of Time and Battery of Will Power, they are interdependent and how you use them finally gives you ability to perform more in less time or the opposite.

Battery of Time keeps same amount of charge no matter what you do, but same doesn't apply to Battery of Will Power.

It may or may not have similar amount of charge, it always discharges fast, it depletes itself horrifyingly fast on first few tasks you perform and requires regular recharges sometimes multiple times a day.

Brian tells, to make your Battery of Time perform better, you have to make sure you make proper use of your Battery of Will Power. He insists to always provide highest priority to the most difficult and most creative task.

For example, tasks like checking your facebook profile or emails doesn't require lot of Will Power but your office job does.

If checking facebook and emails are first things you do every morning, then for sure you have wasted precious power from your Battery of Will Power, now you won't be able to use it on other important tasks without recharging.

Wasting your Will Power on tasks that doesn't require it is main reason why you procrastinate and always have less time to get important jobs done.

The title of book is "Eat That Frog" actually means complete the most difficult task first because it actually requires complete power from your battery of Will Power. The books teaches how to use your Will Power battery to get important jobs done and still retain most of the charge for your both batteries.

Note that I used battery analogy for sake of explanation. The book doesn't use battery for analogy it uses frog. Book starts with goal setting with time. It recommends to set yearly, monthly, weekly and daily goals.

Task scheduling is better than scheduling method that I used since last 3 years, I changed my scheduling approach to method explained in the book and so far it has worked pretty good.

If you think task scheduling is as simple as planing list of tasks then you are wrong. Just making list isn't everything and hence people even after making list fail to complete even one task on it.

Task scheduling and execution method of book advocates linear approach which may or may not apply to everyone.

Brain tells to focus more on completion of task in hands without bothering about its results and time. He tells completing task makes you feel proud about yourself and hence you should do it. It'll also help in building your self respect.

I have big disagreement with his this point of view. Just completing task doesn't make you happy or feel proud about yourself.

When completed task actually ends up with results you were expecting then it makes you feel proud of yourself. Completed tasks with no expected results make you feel terrible and ashamed of yourself.

It may seem like I am Mr Nobody to say that but believe I am telling you from my personal experience. My first business venture was selling Children Monitoring softwares and porn blocking softwares to parents so that they can keep eye on their children's on line activities.

I took affiliation from companies who used to develop these tools. Profit margin was less and even products were limited so I decided to better switch to a product review website. It also worked fine for  3 months then someone logged a complaint against it claiming reviews to be fraudulent.

After inquiry nothing was found because no review was fake, I had permissions for all reviewed products from manufactures or their associates and also the consumers. But the damage has been already done, it failed to generate revenue afterwards leading to its end.

Later I met a guy named Mahesh who told me he work as personal analyst and gets massive commissions on his client's profits. I liked the idea and started reading books on investing, attended lot of seminars and even got help from Ventura and Way To Wealth brokerage firms.

Investing was nothing like the way it was marketed. I met some good people and they arranged me 3 clients but before signing a contract they wanted to see how good I can perform. I gave them my services for 3 months and they were ready to sign me in.

But then SEBI dropped bomb and made registration for personal analyst very tough. They made it mandatory to have net worth of 25 lakh or post graduate in finance, accounting or business. I don't have anything from them neither post graduate nor 25 lakh.

I worked with a firm who promised to find loop hole in rules to get me registration but there weren't any loopholes. I had training, knowledge, support and even clients but no money to get registration.

Every single failure bought me lot of pain and hatred towards myself. In these 5 years my friends got jobs, got promoted, fell in love and even got married. And I only kept working on my business plans without results and not even got time to visit their marriages.

I thought these small sacrifices will yield something good for me but they only bought lot of anger and hatred. Without results completion of tasks leaves you angry and shattered.

So trust me when you select a difficult path for yourself theoretical beliefs has to be kept aside and you have to be practical. So how was my experience so far applying methods, well the book first asks you to set 3 goals you want to accomplish this year in less than 30 seconds.

I came up with Make full time income Online and Lose weight to get in shape. Can't come up with 3rd may be I am too frustrated. Surprisingly I couldn't place my Cement and Paint business on list though I wake up everyday to sell them.

May be I am very unhappy with kind of people I have to meet while on field. By the way I am getting more job done than before. I managed to get and attained more appointments in last 3 week than previous 2 months but my order book still sucks, no profitable quantity was sold.

May be I have even doubled or tripled my profit but can't figure out because anything multiplied by zero still remains a zero. Its been long time, may be 4 to 5 months I haven't seen any profits rolling in due to bad market conditions.

May be I am sitting with a bad luck, on 12th Feb rumors of 5000 sq ft area would be made compulsory for construction project works hit market. And since then not only appointments dropped to zero but we even stopped receiving small orders.

I can not fix market conditions, I have no control over them. By the way I decided to give more time on my video blogs because the first thing that I want is to make full time income online.

At present I own two video blogs, one on Techno Fundamental Value investing and second is Opinion Blog on which you are watching this video.

Opinion video blogs are most hated genre but I am going with it because it gives you chance to find people who think just like you. Armored Skeptic, I think is most hated opinion blog on YouTube but still he is awesome at its best.

I love shows that are weekly in format than daily, so for my shows too I'll prefer weekly schedule. There'll be 2 video formats first is like the one you are watching, second is in form of comic story.

The name of show is True Story, it'll have foolish characters and wanna be smart characters discussing topics and they'll present my point of view or little stupidity. First episode of True Story will go live on my YouTube channel on Saturday.

I have prepared my schedule to upload at least 1 video every week on my opinion blog. If you like online shows you can subscribe and I can hope you to like them.

I expected better executions but it is too soon to say our executions improved or not. Again for sure we are getting more things done in less time so be sure time management stuff do work. I'll spend whole year implementing whatever I learned in this book, consider it as an experiment. You can subscribe to see experimentation in action.

By the way it was good read, if you need recommendation, you can buy it. Your time management skill will surely improve. It wouldn't take more than a week to find out you are getting more job done in less time.

To know how well your plan executions has became you may have to wait. In case you want to buy it amazon and flipkart links are below this video. So go and buy.

I'll see you in my next video on Saturday, till then.

Thanks for watching and have a nice day.

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