I was reading this article by Jackie MacMullan on the ESPN site – on how elite athletes cope or learn to cope with high stress linked to split second (guaranteed) performance. What makes them falter (mostly overthinking that disconnects their instinctive muscle memory from the last at hand) and how they make a come back from defeat. The article is a must read to see how the top athletes develop regimes to tackle stress under pressure. And it should give Founders a lot of clarity about how to deal with stress in our own play fields.
It is Wednesday. My date with finding life hacks that help us be more productive, be a better version of yourself. I do not think that anyone needs to really read this stuff if you are content with what and where you are. But the compelling reason to examine that is this: The time each one of us have is limited and doing useful productive work that contributes to better society and world will make you a happier and content human being. While looking around for clues I found Darius Foroux. He made it his life mission to focus on 4 areas – Productivity,Habits, Decision Making and Personal Finance.
Undoubtedly our life is a sum total of the decisions we make. In the exact same place with exact same inputs two human beings make two completely different decisions. One turns out to be more right than the other. Charlie Munger, part of the Buffet Munger duo, extolled the power of identifying and applying mental models across disciplines in his 1995 speech, ‘The Psychology of Human Misjudgement’.
James Clear runs his enormously popular site (over half a million subscribers) jamesclear.com. He stumbled upon the fact that his writings around habits got great response and decided to keep exploring the ideas around formation of habits. The result is his book Atomic Habits that released to rave reviews late last year.
The huge growth in funding to Asian startups since 2013 has resulted in some monstrous exits. 5 of the 10 to be exact which included 2 from China ( none in 2013) and the humungous $21B Walmart acquisition of Flipkart in India – one of the largest VC backed M&A exits. The growth in startups and their value creation is now all over South East Asia. Between 2017 and 2018 Asia saw the birth of 65 Unicorns with 3 from Indonesia.
Guy Kawasaki. One of the most prolific business book writers of our times. Dispenser of native wisdom. One of the original straight talkers. Wonderful storyteller. I read all his books and found them easy to read and simple to digest. The simplicity was from his time at Apple. As the evangelist for the Mac (software ecosystem) and the author of the book The Macintosh Way, he imbibed the ability to simplify.
Only 3% startups will make it to their 5th year. Zeifmans put out their top 3 reasons startups struggle. They should know. They look at a lot of startups.
No. 1 is Balancing Capital and Growth Needs. CB Insights found that 30% startups fail because they run out of cash. ( I wrote about that a few posts back ). The key is to understand cash flow, plan ahead and manage your burn rates.
What is it you ask? Well Benjamin Hardy has written a long-read piece on that. He defines the Culture Wall as an intention “to create an environment that continually reminds me one of what I stand for and what I aspire toward……they create a shared vision, set of beliefs, expectations and direction for desired behavior.”
Why would the Innovation Leader in a top 5 consulting firm sign up with Uber to drive drunk people around at 2am? Ted Graham, now Head of Open Innovation at GM outlines 3 learnings as a UberX driver (while at PWC). Highly regulated industries (like transportation aka Taxi industry or even Accounting) are in for major disruption. Unless disrupted already.