3-2-1: On Making Money Off Who You Are, Why 1% Better Gets 100X More Results, and the Introvert's Greatest Asset
Wisdom Wednesday #20
It's time for your weekly does of wisdom (now in a new, denser, 5-minutes-or-less format).
Here's 3 ideas from me, 2 quotes from others, and 1 question for you to mull over this week.
3 Ideas From Me:
You are in the top 10% of the world in 5 individual things. You are in the top 1% in that combo of things. Leverage this.
Talent trumps practice and passion trumps hard work. Every time. You will never outwork the guy for whom it isn't work. And you will never acquire wealth, freedom, or fulfillment until you become that guy.
It will likely take you half a decade to distill what your gifts are once you start looking, and the other half to fully refine and actualize them. But when the alternative is to stay stuck where you are, there is no better choice.
Note: If you’re looking for some help on this, check out my article How To Find Your Purpose (Or At Least Something Better Than What You're Doig Now).
For every 100 ideas, only 10 will be worth pursuing, and only 1 will be worth pursuing by you.
It is true that you must take action and work as hard as you can. But do not let indiscriminate action—"hustle"—become a means in and of itself. It doesn't matter how hard you work to bring your idea to life if your idea sucks.
In the rare event your idea doesn't suck, it may still suck for you. I've had dozens of ideas that likely would have made lots of impact and money if they were executed on. But they required me to be an expert at my weaknesses, and thus would have fizzled out long before they were achieved.
Success is a synergy of figuring out what people need and then choosing which of those you'd actually love to provide.
The introvert's greatest asset is reading. The extrovert's greatest asset is networking.
Low leverage introvert activities: video games, TV, sitting on the computer, etc
High leverage introvert activities: reading the best books, listening to the best podcasts, watching the best youtube videos, writing, etc
Low leverage extrovert activities: partying, "hanging out", etc.
High leverage extrovert activities: networking eventing, lunches/dinners with potential business partners or people who can help you grow, joining social groups based on your hobbies and interests, etc.
At least half of your temperamentally specific activities should be high value.
At least half of your high value activities should be temperamentally specific.
2 Quotes From Others:
Investor and entrepreneur, Naval Ravikant, on the power of being 1% better:
"We waste our time with short term thinking and busywork. Warren Buffett spends a year deciding and a day acting. That act lasts decades.
"Just from being marginally better, like running a quarter mile a fraction of a second faster, some people get paid a lot more—orders of magnitude more. Leverage magnifies those differences even further. Being at the extreme in your art is very important in the age of knowledge."
Source: The Almanac of Naval Ravikant
Naval again, on why being average is becoming less and less viable as technology advances:
"Technology democratizes consumption but consolidates production—[today] the best person in the world at anything gets to do it for everyone."
Source: The Almanac of Naval Ravikant
1 Question For You:
And finally, here’s one question to ponder this week:
A year from now, what will I have wished I'd done about [problem i’m struggling with]?
That's all for today!
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Catch you next time,