Putting First Things First Is First - a $250k lesson

My full-time MBA degree cost me - at the margin - about $120k in tuition and about $130k in opportunity cost due to foregone salary. These are rough figures, but my point is that the degree was very expensive to someone who was early in their career and earning a decent but modest salary for an American desk worker. I graduated with approximately $0 in the bank and a net worth of about -$120k.

Though I don’t think I learned nearly $250k worth of knowledge, I did learn some valuable and interesting things at b school. The most valuable lesson I learned during orientation: Putting First Things First Is First.

Clinical professor and resident marketing guru Marcus Collins gave a talk to my incoming class, in which this was one of his X rules to b school success. I don’t remember the other rules. I don’t remember most of what I learned in the program, but I remember this rule all the time as I remind myself to prioritize and how to prioritize.

I’m now raising my first kid with my wife. We are especially busy. Our house is messier than it used to be. We sleep less. We have less free time. I have to constantly remind us to put first things first - this is the most important thing. My current list is:
1. Baby is healthy
2. Mom is healthy and recovering
3. We can pay our bills
4. All else

I imagine I’ll continue to become more busy over the next decade+ and Professor Collins’ advice will become continuously more valuable - as long as I follow it.

One addition I tell myself to Professor Collins’ advice - it's ok to have a long list and its great to write down stuff you’d like to do. Add your recent thought to the list, but be sure to focus on the top of the list and be ruthless about what is above and below the line.