If you lose your temper in rugby, you tackle harder, you run harder, you play better. If you lose your temper at golf, you lose your concentration, you lose your game, you lose. In that way, business is more like golf. Losing your cool does not help in any way.
You’re not gonna feel great every day
Sometimes you’re going to be down. Doing work you don’t like, being sucked dry, feeling negative. That’s when you gotta fake it. No one can ever see you down. YOU are the business. If you’re down, the business is down and folks will lose confidence. Without confidence, you have nothing. You’re not gonna feel great…
Know when to quit
Most people quit when it gets too hard and stick it out when its too hard to quit. If you want to win, you need to be the opposite. Don’t quit when the going gets tough. Quit even though it’s hard to quit. “Not quitting” is for when your strategy is right, your path is…
Strategic vs tactical quitting
There are two kinds of quitting: Strategic and tactical. Strategic quitting is changing your dream/mission. That’s bad. Tactical quitting is changing how you get to your dream/mission. That not so bad. Never give up on the mission, but if your current plans aren’t working, give up quick and move on quickly to something that is…
Opportunity is a function of density
If you’re struggling to find opportunity, go somewhere that’s full of people with money and/or problems and/or successful people (preferably all three). Money creates opportunity. Problems create opportunity. Successful people will rub off on you. Opportunity is a function of density. Go where the crowd is.
Better find another boat than plug a leak
In startup life, sometimes you find your boat is sinking. You’re faced with a choice: Put your energy into plugging the leak and bailing out water. Or put your energy into finding another boat. “Never give up” is a mantra to live by, but sometimes you have to face facts. You’re in a leaky boat,…
There’s never just one cockroach in the kitchen
If you find a fraud or lying or cover-up in an area of your business, dig deeper. Most times, where there is one crooked action, there is at least one more. Get to the bottom of it quickly, clean out the filth. There’s never just one cockroach in the kitchen.
Never confuse bad play for bad luck
It’s easy to blame your setbacks on bad luck. But sometimes it’s not luck. Sometimes you messed up. If you blame luck, you’ll make the same mistakes over and over. Analyse every failure, reflect, be honest with yourself. Never confuse bad play for bad luck.
Work ethic has a compounding effect
The “compounding effect” usually refers to interest earned on money. It’s the principle of reaping huge rewards in the long run from a series of small gains in the short run. The same can be applied to work ethic. If you work 15% harder that your competitor every day, for seven days, then you will…
Make sure your company leaders have skin in the game
A CEO without shares in the company is akin a tenant in a house. He will not make the best decisions for the owner of the house. For example, if someone offers to buy the house, the tenant will recommend not selling. Why? Because he doesn’t want to risk losing his lease, regardless of whether…
Take regular breaks
It’s a good idea to regular breaks. Every break will help you clear your head, and ultimately increase your odds of success. “Break” means a change of scenery. Unfamiliar surrounds (and people) allows your brain to change gears. You don’t need to go to Sicily for a change of scenery. Go down the road to…
When the tree shakes, monkeys fall out
State capture. Debt crises. Trees shaking. Crooks and banks and over-indebted companies falling out the trees. Whatever tree is shaking creates opportunity. Especially for the monkeys in the tree with a good hold (ie: not crooks, not over-indebted).