“Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging of entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. But realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself.”

“Plan to survive reality. Future filled with unknown is everyone’s reality.”

“Things that have never happened before happen all the time.”

“Planning is important, but the most important part of every plan is to plan on the plan not going according to plan.”

“You are one person in a game with seven billion other people and infinite moving parts. The accidental impact of actions outside of your control can be more consequential than the ones you consciously take.”

“Growth is driven by compounding, which always takes time. Destruction is driven by single points of failure, which can happen in seconds, and loss of confidence, which can happen in an instant.”

“Be nicer and less flashy. No one is impressed with your possessions as much as you are. You might think you want a fancy car or a nice watch. But what you probably want is respect and admiration. And you’re more likely to gain those things through kindness and humility than horsepower and chrome.”

“Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.”

“Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.”

“Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you.”

“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.”

“Progress happens too slowly to notice, but setbacks happen too quickly to ignore.”

“Controlling your time is the highest dividend money pays.”

“Spending money to show people how much money you have is the fastest way to have less money.”

“Using your money to buy time and options has a lifestyle benefit few luxury goods can compete with.”

“Risk is what’s left over when you think you’ve thought of everything.”

“Saving is the gap between your ego and your income.”

“Nothing is as good or as bad as it seems.”

Psychology of Money: how to have a better relationship with money and to make smarter financial decisions

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The Psychology of Money

A selection of quotes from the book The Psychology of Money by Morgan Housel

611 quotes from The Psychology of Money: ‘Some people are born into families that encourage education; others are against it. Some are born into flourish...

The Psychology of Money Quotes by Morgan Housel

The Psychology of Money Quotes

The biggest economic stories of the last two years were a pandemic no one saw coming.
It always works like that. The biggest risk is what you don’t see coming. The fact that you’re not prepared for it is what makes it so risky.

The Biggest Risk Is What You Don't Expect

Some people save money for a down payment on a house, a new car, or retirement. That’s great, of course. But saving does not require a goal of purchasing something specific.You can save just for saving’s sake. And indeed you should. Everyone should.Only saving for a specific goal makes sense in a predictable world. But ours isn’t. Saving is a hedge against life’s inevitable ability to surprise the hell out of you at the worst possible moment.

The Biggest Lesson: You Don’t Need a Reason to Save

Everyone knows the tangible stuff money buys. The intangible stuff is harder to wrap your head around, so it tends to go unnoticed.But the intangible benefits of money can be far more valuable than the tangible things that are obvious targets of our savings.Savings without a spending goal gives you options and flexibility — the ability to wait and the opportunity to pounce. It gives you time to think, and lets you change course on your own terms.Every bit of savings is like taking a point in the future that would have been owned by someone else and giving it back to yourself.

Money Buys The Intangible

Saving without a spending goal has many benefits, including control over your time.

Why you don’t need a reason to save

In the identity conversation, you start to worry about what the conversation says about you. Three core identity-related questions we think about:<ul><li>Am I competent?</li><li>Am I a good person?</li><li>Am I worthy of love?</li></ul> You are more likely to lose balance if there is a gap between what you believe to be true and what you fear to be accurate.To regain balance:<ul><li>Use the 10/10/10 framework. Ask yourself: Will this matter in ten minutes? Ten months? Ten years?</li><li>Get help from a therapist, coach or a friend.</li></ul>

The Identity Layer

Feelings are at the centre of a difficult conversation. Ignoring emotions can cause resentment, anger, and broken relationships. There are three steps to expressing feelings in difficult conversations.<ul><li>Get better at uncovering your feelings. Reframe feelings to something you experience, not who you are. You are not angry, you are experiencing anger. Question what is behind the emotion.</li><li>Realise that you can negotiate with your feelings. Your feelings are caused by what you're thinking. </li><li>Describe your feelings to your colleague without venting. "I felt that my opinions were not paid attention to."</li></ul>

The Feelings Layer

1.  Start from the third-person perspective.It helps you create distance to have a broader point of view and to express yourself more objectively. 2.  Listen more intentlyUse the SOAR framework<ul><li>Make Space</li><li>Observe and validate</li><li>Ask</li><li>Repeat and confirm</li></ul> 3.  Speak for yourself with clarityMost people prefer to be with people who speak their mind. We trust them and feel confident in them. Assertively state your story without aggression or getting defensive.

Mastering difficult conversations

Conversations fall apart when we say, "I am right, and you are wrong." This is because we have more information about ourselves than we have about the other person. We know our intent, but we judge their intent based on their action. We also base our deduction on what suits our pre-conceived ideas.How to overcome this limitation:<ul><li>Use the "And" stance, meaning acknowledging that both stories can be right.</li><li>Disentangle the impact of the action from the original intent.</li><li>Map the contribution system. Each party can acknowledge that one of their actions contributed to the case.</li></ul>

The "What happened" Layer

A person’s success in life can be measured by the number of uncomfortable conversations he or she is willing to have.

<ul><li>The "What happened" layer. What's the story here?</li><li>The Feelings layer is uncovering how you really feel.</li><li>The Identify layer ask what does this say about me?</li></ul>

Three layers of difficult conversations

As a Product Manager, you are likely to face many difficult conversations, for example, stopping work that fails to align with top priorities, giving feedback, negotiating roadmaps, and apologising when you took your eye off the ball. Mastering difficult conversations can give you superpowers. You can get the confidence to promote new product ideas, drive organisational changes, and lead your group.

Managing difficult conversations

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Leading in Product Management 

Navigating difficult conversations is a skill that gives you Product Management superpowers. It can help you influence, negotiate and lead effectively.

Have you ever avoided a conversation that you know that you needed to have? Has a desire for comfort taken you off the direct path to achieving your goals? Or even worse, have you ever had the…

Product Managers Can Use These Techniques To Master Difficult Work Conversations

In the world of software as a service (SaaS), the distance between the Product team and the Customer Success team may appear to stem from competing priorities. However, a close-up look reveals that the interests of the two teams are very similar.

A productive relationship between CS and product teams

<ul><li>Both teams focus on the customer experience: Product focus on the "why" of customer needs. CS drives the experience throughout the customer journey. It builds loyalty, drives expansion, and cause retention.</li><li>Both teams need to be agile and adaptable: Product needs to respond quickly to competitive developments, bugs or feature requests. CS needs to be available to customers to respond to issues.</li><li>Both teams thrive with a product-led mindset: Product teams play an ongoing role in the business's success. CSMs leverage the product to drive loyalty and competitive advantage.</li></ul>

Similarities between Product and CS

CSMs spend their time talking to customers about the business challenges they're trying to solve. Product teams don't get one-on-one time with customers. Instead, they use analytics to try and understand the customer experience. Analytics is vital but lacks the qualitative and emotional aspects of sentiment and satisfaction. Understanding both quantitative analytics and qualitative user feedback is essential to understanding the customer experience fully.

Varied understandings of the customer experience

When companies are just starting, the responsibilities of the teams overlap. Product speaks with customers. CS helps with product testing. As a result, it's easy for teams to be collaborative and agile. But when organisations scale, teams find it more challenging to stay in sync. Product and CS teams may seldom interact, leading to misaligned goals, misunderstanding priorities, and miscommunication with customers.

Rapid scale cause silos

The poor communication caused by siloed teams is frustrating for internal teams and impacts your product experience. The product teams rely on the conversations CSMs have with customers to inform their roadmap and inspire innovation. But if the CS team doesn't have a forum for sharing customer feedback with Product, product teams are unable to build functionality to address the customer challenges. Similarly, if the product team doesn't inform the CS team about the latest product decisions and developments, CS can't advise customers about the product.

Poor communication

Product and CS often fail to work together because of three key issues.

Part one of this three-part series explores key challenges that have prevented Product and Customer Success from collaborating at their best.

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Three challenges that hinder CSM and PM collaboration | Pendo Blog

As product leaders, it is your task to build a great product culture.
This prevents ineffective product management and helps to reduce churn. Generally, it gives the people you work with the opportunity to grow.

Building a product culture

Product teams need to understand human motivation and psychology. Entrepreneurs Neel Doshi and Lindsay McGregor state that there are three pillars of motivation: <ul><li>Play: The number of tasks, projects, and priorities can feel overwhelming. But keeping a sense of fun brings innovation and creates value to customers.</li><li>Purpose: A person wants to feel like their work is meaningful and builds a better world.</li><li>Potential: A person needs to know that there is an opportunity for growth and advancement.</li></ul>

Three pillars of motivation

This eBook includes tips product leaders can put into action to help motivate PMs, reduce churn, and establish a great product culture.

The Psychology of Money Quotes by Morgan Housel

Why you don’t need a reason to save

Product Managers Can Use These Techniques To Master Difficult Work Conversations

It's time to
Read like a Pro.

Three challenges that hinder CSM and PM collaboration | Pendo Blog

CURATED BY

The Psychology of Money Quotes by Morgan Housel

Why you don’t need a reason to save

Product Managers Can Use These Techniques To Master Difficult Work Conversations

It's time to Read like a Pro.

Three challenges that hinder CSM and PM collaboration | Pendo Blog

CURATED BY

It's time to
Read like a Pro.