The 5-Hour Rule

We have been told for years and year that “practice will make perfect” but does having a successful business require more than just practice from employees? Is there something more we can do? Michael Simmons explains what he calls the “5-hour rule”:

“Over the past year, I’ve explored the personal histories of many widely admired business leaders, including Elon Musk, Oprah Winfrey, Bill Gates, Waffen Buffet, and Mark Zuckerberg, in order to understand how they apply the principles of deliberate practice. 

What I’ve done does not qualify as an academic study, but it does reveal a surprising study. Many of these leaders, despite being extremely busy, have set aside at least an hour a day (or five hours a week) over their entire career for activities that could be classified as deliberate practice or learning. 

I call this phenomenon the five-hour rule.” 

Listen to the rest of the podcast at: http://tinyurl.com/j26b6mp

Matt talks with Michael Simmons, an award-winning social entrepreneur, bestselling author, and contributor to publications like Forbes, Fortune, Inc., Entrepreneur, Time, Business Insider, and HBR. Michael’s company, Empact, helps build the entrepreneurship ecosystem globally. Empact has held over 600 events at colleges, high schools, workforce development organizations, corporations, and Small Business Development centers in 7 countries.