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How Rich People and Ordinary People View the World Differently

How Rich People and Ordinary People View the World Differently

Being rich is sometimes nothing more than a mindset. Many people may find it difficult to accept the points stated below, but the truth remains that rich people tend to see the world in a different light from the way ordinary people see it. It is important to consider the mentality behind such thoughts, since becoming rich isn’t such a bad idea.

This is how rich people and ordinary people view the world differently:

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Rich people are positive about the world around them while ordinary people blame the world for their problems

Rich people are used to taking charge of the world around them. They know that there are a lot of wrongs and ills that already exist, but they don’t dwell on those. In fact they work hard to fix the aspects that they can fix and act responsibly for what happens to them.

Ordinary people offer excuses and use the word “if” a lot. They tend to point fingers at this or that for the wrongs in their lives. They think that they have been wronged all along and try to play the victim every now and then.

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Rich people believe that poverty is the root of all evil while ordinary people believe money is the root of all evil

Rich people know that poverty can cause a man so much pain. They know that if poverty was eradicated or not in the picture, humanity would make more progress. Money is not evil to them. Rather, they see it as a means to an end in gaining all that they want in life. Money may not guarantee happiness, but it can make life easier and more comfortable to live in.

Ordinary people think that money is the root of all evil and that rich people are dishonest and greedy. They do not see money for what it is — an avenue to attain more freedom. Rather they see it as a cause to the many headaches man is suffering. They will simply advise contentment and simplicity because they feel that wealth comes at so high a price.

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Rich people believe in taking action while ordinary people wait for everything to take place with chance

Rich people believe you need to attract opportunities by working hard and taking action. They do not believe in gambles and chances or playing the lottery to become more prosperous. They would rather go out there and solve problems or add value to the world around them. There is no point in waiting for God, government or certain institutions to offer them a lucky hand for them to become more prosperous.

Ordinary people believe in chance and luck or taking a gamble on almost everything that will come their way. They are would-be patrons of get-rich-quick schemes and the lottery. Rather than go out there to improve their chances, they will sit and wait for “almighty” factors to determine their destinies.

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Rich people do not see formal education as a direct path to prosperity while ordinary people see a formal education as all you need to become wealthy

Rich people know that you need more than a formal education to succeed in life. Actually, many top performers and rich people had to work hard, persevere and acquire specific knowledge along the way to become what they are. Rich people do not see the world from a linear angle, but rather from a diversified angle of making prosperity from diverse means. It really is not about the means, after all, but the end.

Ordinary people are stuck with the thought that you can only become somebody and rich after you have attained a degree or gone through a prestigious institution of knowledge. However, this thought only keeps them prisoners of mediocrity and staying on the average line.

Featured photo credit: http://www.compfight.com via compfight.com

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Casey Imafidon

Specialized in motivation and personal growth, providing advice to make readers fulfilled and spurred on to achieve all that they desire in life.

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Last Updated on September 30, 2020

Effective vs Efficient: What’s the Difference Regarding Productivity?

Effective vs Efficient: What’s the Difference Regarding Productivity?

When it comes to being effective vs efficient, there are a lot of similarities, and because of this, they’re often misused and misinterpreted, both in daily use and application.

Every business should look for new ways to improve employee effectiveness and efficiency to save time and energy in the long term. Just because a company or employee has one, however, doesn’t necessarily mean that the other is equally present.

Utilizing both an effective and efficient methodology in nearly any capacity of work and life will yield high levels of productivity, while a lack of it will lead to a lack of positive results.

Before we discuss the various nuances between the word effective and efficient and how they factor into productivity, let’s break things down with a definition of their terms.

Effective vs Efficient

Effective is defined as “producing a decided, decisive, or desired effect.” Meanwhile, the word “efficient ” is defined as “capable of producing desired results with little or no waste (as of time or materials).”[1]

A rather simple way of explaining the differences between the two would be to consider a light bulb. Say that your porch light burned out and you decided that you wanted to replace the incandescent light bulb outside with an LED one. Either light bulb would be effective in accomplishing the goal of providing you with light at night, but the LED one would use less energy and therefore be the more efficient choice.

Now, if you incorrectly set a timer for the light, and it was turned on throughout the entire day, then you would be wasting energy. While the bulb is still performing the task of creating light in an efficient manner, it’s on during the wrong time of day and therefore not effective.

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The effective way is focused on accomplishing the goal, while the efficient method is focused on the best way of accomplishing the goal.

Whether we’re talking about a method, employee, or business, the subject in question can be either effective or efficient, or, in rare instances, they can be both.

When it comes to effective vs efficient, the goal of achieving maximum productivity is going to be a combination where the subject is effective and as efficient as possible in doing so.

Effectiveness in Success and Productivity

Being effective vs efficient is all about doing something that brings about the desired intent or effect[2]. If a pest control company is hired to rid a building’s infestation, and they employ “method A” and successfully completed the job, they’ve been effective at achieving the task.

The task was performed correctly, to the extent that the pest control company did what they were hired to do. As for how efficient “method A” was in completing the task, that’s another story.

If the pest control company took longer than expected to complete the job and used more resources than needed, then their efficiency in completing the task wasn’t particularly good. The client may feel that even though the job was completed, the value in the service wasn’t up to par.

When assessing the effectiveness of any business strategy, it’s wise to ask certain questions before moving forward:

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  • Has a target solution to the problem been identified?
  • What is the ideal response time for achieving the goal?
  • Does the cost balance out with the benefit?

Looking at these questions, a leader should ask to what extent a method, tool, or resource meets the above criteria and achieve the desired effect. If the subject in question doesn’t hit any of these marks, then productivity will likely suffer.

Efficiency in Success and Productivity

Efficiency is going to account for the resources and materials used in relation to the value of achieving the desired effect. Money, people, inventory, and (perhaps most importantly) time, all factor into the equation.

When it comes to being effective vs efficient, efficiency can be measured in numerous ways[3]. In general, the business that uses fewer materials or that is able to save time is going to be more efficient and have an advantage over the competition. This is assuming that they’re also effective, of course.

Consider a sales team for example. Let’s say that a company’s sales team is tasked with making 100 calls a week and that the members of that team are hitting their goal each week without any struggle.

The members on the sales team are effective in hitting their goal. However, the question of efficiency comes into play when management looks at how many of those calls turn into solid connections and closed deals.

If less than 10 percent of those calls generate a connection, the productivity is relatively low because the efficiency is not adequately balancing out with the effect. Management can either keep the same strategy or take a new approach.

Perhaps they break up their sales team with certain members handling different parts of the sales process, or they explore a better way of connecting with their customers through a communications company.

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The goal is ultimately going to be finding the right balance, where they’re being efficient with the resources they have to maximize their sales goals without stretching themselves too thin. Finding this balance is often easier said than done, but it’s incredibly important for any business that is going to thrive.

Combining Efficiency and Effectiveness to Maximize Productivity

Being effective vs efficient works best if both are pulled together for the best results.

If a business is ineffective in accomplishing its overall goal, and the customer doesn’t feel that the service is equated with the cost, then efficiency becomes largely irrelevant. The business may be speedy and use minimal resources, but they struggle to be effective. This may put them at risk of going under.

It’s for this reason that it’s best to shoot for being effective first, and then work on bringing efficiency into practice.

Improving productivity starts with taking the initiative to look at how effective a company, employee, or method is through performance reviews. Leaders should make a point to regularly examine performance at all levels on a whole, and take into account the results that are being generated.

Businesses and employees often succumb to inefficiency because they don’t look for a better way, or they lack the proper tools to be effective in the most efficient manner possible.

Similar to improving a manager or employee’s level of effectiveness, regularly measuring the resources needed to obtain the desired effect will ensure that efficiency is being accounted for. This involves everything from keeping track of inventory and expenses, to how communication is handled within an organization.

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By putting in place a baseline value for key metrics and checking them once changes have been made, a company will have a much better idea of the results they’re generating.

It’s no doubt a step-by-step process. By making concentrated efforts, weakness can be identified and rectified sooner rather than later when the damage is already done.

Bottom Line

Understanding the differences between being effective vs efficient is key when it comes to maximizing productivity. It’s simply working smart so that the intended results are achieved in the best way possible. Finding the optimal balance should be the ultimate goal for employees and businesses:

  • Take the steps that result in meeting the solution.
  • Review the process and figure out how to do it better.
  • Repeat the process with what has been learned in a more efficient manner.

And just like that, effective and efficient productivity is maximized.

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Featured photo credit: Tim van der Kuip via unsplash.com

Reference

[1] Merriam-Webster: effective and efficient
[2] Mind Tools: Being Effective at Work
[3] Inc.: 8 Things Really Efficient People Do

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