Hey Contrarians,
Below is the business equivalent of a good slap in the face.
Ten “ruthless truths and notes to my younger, much poorer self,” as Codie puts it.
Read them, save them, and return to them whenever you need.
Today in 5 minutes or less, you’ll learn:
1. Know that “boring business” doesn’t mean “boring life”
Your chances of having an impact on people’s lives may well be higher on Main Street than they are in Silicon Valley.
A business that cashflows, lets you be with your family, is simple, has great customers, serves a local community, and offers you a happy life… is, in our eyes, the REAL unicorn.
2. Words mean things
“No sh*t, Sherlock.”
But seriously, here’s what may be the simplest secret to success:
When you say you’ll do a thing, you actually do the thing.
Mind-blowing, we know. And yet, few can say they do this.
“Reliable, dependable, gets things done” — that’s how you want to be described.
Small things, big things, promises to yourself, your employees, or your boss. Doesn’t matter.
“You have my word” is an expression for a reason.
3. Reframe your obsessions
The best don’t obsess over those one step ahead of them — they leverage those folks for practical advice and tactics.
You want to know who they obsess over?
The people 10-20 years ahead of them.
Then they focus on shortening the distance.
How? By shrinking the gap between them 1% at a time, and making small directional changes as early as they can.
4. Become good at asking
You have to learn how to ask for the things that you want.
Want in on a little negotiation secret?
It doesn’t matter what you’re asking for, most people really don’t care what you’re doing unless you answer this question:
“What’s in it for me?”
Master negotiation so you don’t get absolutely steamrolled.
5. Get advice from the right people
Be wary of advice from someone with no experience in the subject they’re advising you about.
If you can pay to steal someone’s 10,000 hours, do it.
Build relationships with:
- Lawyers
- Accountants
- Bankers
- Investors
- Owners
They understand the game.
And don’t give front-row tickets to those with nosebleed seats. The opinion worth hearing is usually the one with a sense of skin in the game.
6. Or, don’t get advice at all…
Most of the time you probably don’t even need it, you just need to act.
One of the best muscles to train is your sense of urgency.
Improve your time-to-action:
- 3 month plan —> 1 month plan
- 1 month plan —> 1 week plan
- 1 week plan —> 1 day plan
Cut the time between having an idea and acting on it.
7. FYI: business ownership is a bitch
Entrepreneurship means quitting 1 job to take on 100 others, then grinding your tuchus off to fire yourself from all those roles.
But it’s a way to build a life on your terms.
Sure, money is part of the equation…
… But so is a metric ton of stress.
Much of the time, wealth and ownership aren’t even about buying cool things.
They’re about becoming so sovereign you can say no to anything, anytime.
8. Your diet isn’t just what you eat
It’s what you read, watch, and listen to. It’s the information you consume.
It’s becoming an increasingly rare asset to have an attention span.
Being well-read may soon no longer mean reading a lot, but reading anything at all.
Like food and fitness, many are trading mental growth for comfort. Be careful not to do the digital equivalent of wolfing down fries on the daily.
9. Build yourself a creed
Here’s ours:
10. Generosity pays dividends
Be the type of person who reaches out to others even when you don’t need something.
Give free value with no expectations and you’ll find it easier to get the favors returned when you need them most.
While you’re entitled to nothing, it’s better to be owed than to owe.
Jab, jab, jab — right hook.
Give, give, give — ask.
