The famous 1918 story where Bethlehem Steel president Charles Schwab paid productivity consultant Ivy Lee $25,000 (equivalent to $400,000 in 2015) after three months of using the six-task prioritization method.
In 1918, productivity consultant Ivy Lee visited Bethlehem Steel Corporation to advise its executives. This meeting would become one of the most famous moments in productivity history.
Charles M. Schwab, president of Bethlehem Steel (then one of the largest steel companies in the world), was looking for ways to increase his team's efficiency and productivity.
Lee offered to spend 15 minutes with each executive, and Schwab asked, "How much will it cost me?"
Lee replied: "Nothing. Unless it works. After three months, you can send me a check for whatever you feel it's worth to you."
Lee's method was remarkably simple:
After three months, Charles Schwab was so delighted with the progress his company had made that he wrote Ivy Lee a check for $25,000 — the equivalent of a $400,000 check in 2015 dollars.
The check's size reflects:
Limits Decision Fatigue: Only six tasks eliminates overwhelming choice
Forces Prioritization: Must identify truly important work
Encourages Deep Focus: One task at a time, done completely
Realistic Planning: Six tasks is achievable in most workdays
Manageable Scope: Not overwhelmed by massive to-do lists
This took place during the early 20th century when:
Over 100 years later, the Ivy Lee Method remains popular because:
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Schwab's $25,000 check teaches that: