After posting about taking time off from the book learning and quote initiatives, I took a month to reflect. I felt the need to integrate these projects into one central learning initiative. And I’m happy to announce the start of a new initiative – “The 200 words project” – to present an idea to you every week in 200 words or less from a book I read (most of the time) and once in a while, from an interesting link online.
So, why is this different from the daily learning a day? This is similar to the book learning initiative in that we will focus on ideas from books rather than learnings from my experiences and observations. In short, they will be many times better and a lot more insightful (haha).
I do hope they will lead to a positive start to the week and hopefully will consistently provide food for thought every Sunday. In keeping with the “ALearningaDay” philosophy, I am sure there will be many failures learnings in the process.. so I hope to have your feedback from time to time to help make these 200 word ideas better.
This is available via email subscription too (I will set up a link soon – please leave a comment for now if you are interested) – aside from the personalized email, you will also receive the idea one week in advance of the Sunday blog post.
Now, over to idea #1
The give-more-earn-more idea. Economist Arthur Brooks conducted a study with 30,000 participants to see the link between their income and the amount of money they gave away. Adjusting for variables like age, race, marital status, the research revealed that higher income typically correlated with higher giving. This was as expected.
Viewed the other way around, the results got interesting. For every $1 in charitable giving, the income of the participant was found to be $3.75 higher a year later. So, let’s assume we both earn $60k and I give $1,600 to charity and you give $2,500. Then, according to the evidence in the study, you are on track to earning 3,375 more in the coming years!
This study is one of a larger group of studies that indicate that the successful people combine what Bill Gates called “the two great forces of human nature: self-interest and caring for others.” Give more and, as the research suggests, you will get more too.
Source: Give and Take by Adam Grant
“We make a living by what we get. We make a life by what we give.” | Winston Churchill
An additional note – I realized after I sent this that I had made a mistake communicating this correlation as a cause-and-effect. There are a few other assumptions that are embedded in this story that don’t fully make sense without context.
I realize I made the mistake because of a lack of adequate preparation. I was a bit too eager to get started. Nevertheless, I’m working in the background to create repeatable processes to ensure these 200 word ideas get better and better. More to follow..
Have a great week!