Innovation is the systematic practice of developing and marketing new products, services, processes, and business models for customers. Successful innovation increases value and drives growth. However, getting innovation right can be challenging.  Over 80 percent of executives surveyed say that innovation is one of their top three priorities, yet less than 10 percent are satisfied with their innovation performance.

Innovation in a business context

Companies that use the essentials of innovation see a substantial performance edge. Mastering innovation can generate economic profit 2.4 times higher than other players.

The importance of innovation in business

Research shows eight critical elements organisations should master for superior innovation performance. <ol><li>Aspire: Viewing innovation-led growth as critical.</li><li>Choose: Investing in a coherent, time- and risk-balanced portfolio of initiatives.</li><li>Discover: Creating actionable business, market, and technology R&D efforts.</li><li>Evolve: Developing business models that deliver defensible and scalable profit sources.</li><li>Accelerate: Developing and launching innovations quickly.</li><li>Scale: Launching innovations at the right scale in the relevant markets.</li><li>Extend: Creating and capitalizing on external networks.</li><li>Mobilize</li></ol>

Becoming better innovators

<ul><li>Mercedes-Benz Group invested extensively in digitizing its product development system, shortening its innovation cycles, improving its ability to personalise cars and increasing assembly efficiency by 25 percent.</li><li>The information services organization RELX Group ran ten to 15 experiments in each customer segment in its pipeline yearly, then selected one or two of the best ideas.</li><li>International insurance company Discovery Group mobilised the organisation around innovation by creating incentives using semiannual divisional scorecards.</li></ul>

Examples of successful innovators

Steps to help aspiring innovators get started:<ul><li>Hold collision sessions. Teams consider unmet customer needs, technology trends, and business models and bring creativity and specificity to idea generation. Then a panel evaluates the ideas and prioritises what to do.</li><li>Challenge orthodoxies. Participants describe common beliefs that prevent the organisation from innovating.</li><li>Make analogies to other industries. A team creates a list of companies with unique value propositions and then systematically applies these propositions.</li><li>Apply constraints, such as serving only one type of customer.</li></ul>

Improving the volume and quality of new ideas

The way to get to good ideas is to get lots of ideas and throw the bad ones away.

An innovation portfolio is a thoughtfully curated collection of potential initiatives, with clear aspirations and resources defined for each. The portfolio will help to find new opportunities and determine the appropriate number of initiatives, including:<ul><li>Confirming the total value of the portfolio needed.</li><li>Evaluating existing innovation projects.</li><li>Getting comfortable saying “no” to stop projects that are dilutive.</li><li>Reallocating resources to new initiatives.</li><li>Identifying portfolio gaps and defining new initiatives.</li></ul>

Innovation portfolio

<ul><li>Look at innovation-driven net new growth, called the "green box." The green box looks at growth from innovation alone. It defines the value that a company creates from innovation, on a defined timeline, with quantifiable metrics. Once defined, the growth aspiration can be cascaded into a set of objectives and metrics.</li><li>R&D-to-product conversion: This metric is calculated from the ratio of R&D spending to sales from new products.</li><li>New-products-to-margin conversion: This metric view the ratio of gross margin percentage to sales from new products.</li></ul>

How to measure innovation

Innovation is a team sport and consists of ten traits that fall into four main categories:<ol><li>Vision - the ability to spot opportunities and inspire others to go after them.</li><li>Collaboration focuses on fostering effective teamwork and change management.</li><li>Learning or absorbing new ideas.</li><li>Execution, with traits that enable quick decision-making even during uncertainty.</li></ol>

How to create a high-performing innovation team

A recent poll showed that 85 percent of executives say fear is holding their organisation back from innovative efforts.<ul><li>Create a culture that accounts for the human side of innovation. For example, people who worry about failure, criticism, or career impact of a wrong move can prevent people from embracing innovation.</li><li>Create a safe environment for innovation.</li><li>The majority of important breakthroughs failed many times before they succeeded.</li><li>If someone knowledgeable thinks you have a bad idea, ensure to put them on your board and make them an advisor to prevent blind spots.</li></ul>

Broad innovation advice for business leaders

personaldevelopment

Personal Development

business

Business

creativity

Creativity

leadershipandmanagement

Leadership & Management

What is innovation?

Hypomania is an extreme form of happiness. When it reaches a pathological level of happiness, you're not only feeling on top of the world, but therapists also think it's dysfunctional. Hypomanic means someone has a complete lack of impulse control. You talk without stopping in a way that people can't follow you. You do not need to sleep, so you don't. You are also taking high risks.

History is changed for the better by the hypomanic

Most people have a set range for their resting state of happiness, to which they eventually return regardless of what life events they encounter. However, the centre of gravity can shift.

Center of gravity to mood states

We all know what it's like to feel bad, and we all want to feel good more than we feel bad. For many philosophers and individuals in general, optimism/joy is the ultimate pursuit. However, being always positive does not mean being blind to real concerns. We can experience positive and negative emotions.

Optimism as the ultimate pursuit

The correlation between positive and negative emotions is only -0.3, meaning if being happy was the opposite of being unhappy, you would see a correlation of -1. So it suggests that people are fully capable of feeling some happy emotions, some negative feelings and mixed emotions.  Studies found that  "neurotic" people have rollercoaster emotions. However, you can have a high mood centre of gravity and hover around there stably.

Unhappiness and happiness are not photo negatives of each other

<ul><li>If you seem too happy, it may be an indication to others that you are low on empathy.</li><li> You may be perceived by others as naive and insensitive to people who are not in a very good mood at the time. </li><li>Dispositional optimistic people tend to be biased to only pay attention to the good sides. But this can be manipulated. “Hey, they’re looking over here. While they’re looking at the glass being half-full, we can exploit this blindness that they have. I’m going to sell them a horse.” </li></ul>

Being positive can be exploited

Well into older adulthood, adults are happier than they were when they were younger. Research suggests that's because older adults tend to selectively look at the pretty picture and ignore the ugly picture. This attentional engine that filters out reality and pushes feelings around attention is the gatekeeper for everything.  However, we don't want to ignore inequality, death, sadness, and loss even if we could be 10 out of 10 on happiness because there's something other than happiness, like character.

People get happier on average as they get older

You do not have to be rich to control where you pay attention.  The optimists of the world tend not to be hanging out on their couches, staring at their half-filled glasses. Instead, they're starting non-profits or becoming teachers. They acknowledge that there are objective disadvantages but look at the good side too.

Happiness is a privilege

A 2013 TIME magazine survey found that 90% of people consider themselves optimists. <ul><li>But happiness varies by national culture. For example, Denmark and Finland are considered very happy. In 2015, the least happy country was Togo, but a 2021 report showed that Afghanistan was the least happy country.</li><li>America may be more optimistic because they have a very strong religious belief and a very strong belief in an afterlife. If you want to think about a reason to be optimistic, it would be believing that your ending will be better than now.</li></ul>

The happiest people in the world

The causal influence of happiness goes from happiness to doing better at work. When you're doing better at work, it makes you happier.  Yet, die-hard optimists should understand that there may be occasions where you should tone it down a little for the sake of others. Pessimists should maybe jack it up a little bit because it's a free pass toward improving your outcomes.

The casual influence of happiness on future outcomes

If you diagnose yourself as an optimist, you might want to ensure you are at least noticing when the glass is half-full and for whom the glass is half-full, who doesn't have a glass at all, and who has two glasses.  For pessimists, notice your attention. Consider which part of the picture you are obsessively dwelling on. Yet, both optimists and pessimists would understand the reality of cycles because there are virtuous and vicious cycles: being unhappy, negative and hyper-critical can be a spiral downward. But they can also join virtuous upward spirals.

Ensure you're not neglecting the bigger picture

 In this special episode of No Stupid Questions, Stephen Dubner and Angela Duckworth discuss the consequences of seeing every glass as at least half-full. 

Understand yourself and those around you.

psychology

Psychology

podcasts

Podcasts

Freakonomics co-author Stephen J. Dubner uncovers the hidden side of everything. Why is it safer to fly in an airplane than drive a car? How do we decide whom to marry? Why is the media so full of bad news? Also: things you never knew you wanted to know about wolves, bananas, pollution, search engines, and the quirks of human behavior.

Freakonomics Radio

489. Is “Toxic Positivity” a Thing?

Jeff Bezos worked for a New York hedge fund in 1994. That year, Bezos learnt that the internet's user base was expected to rise by over two thousand per cent per year in the future years. Soon after, he made a bold decision that would come to define Amazon's philosophy: he quit his hedge fund position and set out to build Amazon.Books, Bezos thought, were the ideal product for an e-commerce firm. Even the largest bookstores could only stock tens of thousands of volumes at a time. Bezos would be able to provide practically every book that was available if he opened an online bookstore.

Amazon: The Beginning

<ul><li>The success of Amazon is built on its leadership ideals.</li><li>Amazon has eliminated confirmation bias and hurry from its hiring process.</li><li>When it comes to delivering complex material, PowerPoint presentations fall short.</li><li>Amazon distinguishes itself by prioritizing the needs of its consumers over their own.</li><li>Amazon’s next-day delivery option is the result of obsessive consumer focus.</li><li>The company’s leadership ideas were ignored in Amazon’s initial video-on-demand program.</li></ul>

The Ideals Of Business At Amazon

Amazon's leadership values are the bedrock of its success.Amazon's Invent and Simplify concept was exhibited by Bezos' imaginative thinking. Amazon executives are constantly looking for fresh and imaginative ways to accomplish their goals.Bezos displayed another principle by quitting his job: a Bias for Action. Amazon executives believe that speed is critical to their company's success. Even if you act fast and make a mistake, you can generally recover. It's better to take a calculated risk like Bezos did when he quit the hedge fund, rather than spending a lot of time evaluating your choices.

The Success of Amazon Is Built on Its Leadership Ideals

Amazon's executives realize that tiny dreams only lead to small accomplishments. The Amazon team sees a bright, daring future, and it is this vision that has led to such remarkable success.The company's earliest offices were in a small basement in Seattle when Bezos launched his online bookstore. They used old doors attached to four-by-fours as workstations instead of proper desks. This represented the Frugality ethic, which still exists at Amazon. There are no incentives for increasing headcounts or expenditures, so leaders are praised for getting more done with less.

Thinking Big and Executing With Frugality

Despite Amazon's assurances that their books would be delivered via first-class mail, each book was delivered by priority mail. The corporation paid a higher price for this, but buyers were happy when their books arrived considerably sooner than expected. Every decision Amazon takes today is still driven by an obsession with customer experience.

Spending More To Delight The Customer

Consider yourself a senior executive tasked with purchasing a multimillion-dollar plant to produce your company's goods. Because the decision you make will have a long-term impact on the company's bottom line, you would go through a thorough procedure to ensure that you select the proper manufacturer.Many firms, on the other hand, have little rigour in their recruitment processes when it comes to hiring the proper personnel. This is a major issue. After all, your recruiting decisions have a long-term impact on your company. That's why Amazon's hiring judgments are so accurate.

Hiring Is A Mission-Critical Decision

Urgency bias occurs when a team feels compelled to fill a vacant position, maybe because they are responsible for the work of the absent worker. Because they're so eager to find someone, they overemphasize a candidate's qualities and ignore his weaknesses. In many circumstances, this means they hire someone who isn't the best fit for the job.

Urgency Bias

Amazon has a unique weapon in their recruitment process that avoids urgency bias: the bar raiser. A bar raiser is a highly experienced interviewer who is not a member of the hiring team and has no vested interest in ensuring that someone is hired swiftly. The bar raiser is in charge of conducting final interviews with candidates and, more importantly, has the authority to veto individuals who aren't a suitable fit.This guarantees that teams apply a high level of discipline to their hiring procedures. They know, after all, that the bar raiser will only allow the greatest to join them.

Countering Hurried Hiring: The Bar Raiser

When multiple interviewers conduct interviews with the same candidate, this can happen. After the first interviewer has finished, she may speak with the other interviewers informally about whether they liked or disliked the candidate. This may appear innocuous, but it establishes expectations in the minds of the other interviewers about how good the candidate is.Instead of fairly evaluating the candidate, they will hunt for evidence that confirms their ideas when conducting their own interviews.

Confirmation Bias During Hiring

Amazon avoids confirmation bias by requiring all interviewers to write full reports on candidates immediately following their interviews and before speaking with coworkers. The interviewers consult these reports when they meet to discuss the candidate. This system ensures that each person's opinion is their own.

Avoiding Confirmation Bias: The Amazon Way

In 2004, Amazon's senior managers took turns stepping up and giving a weekly presentation on a significant topic. However, these presentations were frequently ineffective. The CEO then took a decision.Now, no PowerPoint presentations are ever used. Also, every meeting begins with silence for the first twenty minutes. The secret to Amazon's effective decision-making is silence.

No PPTs And Ample Reading Time In Meetings

Amazonians ditched PowerPoint in favour of a six-page document in 2004. Meeting attendees now read this message for twenty minutes during each meeting. The six-pager follows a narrative format to explain the subject. This enables the topic to be discussed in greater depth and complexity, rather than just bullet points.A six-page memo, in fact, contains roughly nine times the amount of information as the slideshows it replaces. This also allows for considerably greater exploration of links between various ideas.

The Six Page Memo

The six-page document also attempts to equalize the playing field among employees. Meeting attendees would invariably rate new suggestions based in part on the presenter's speaking and graphic-design skills when PowerPoint was used to explain them. Regardless of how strong their ideas were, skilled speakers with compelling graphics tended to garner more positive answers.The six-page letter, on the other hand, kept attendees' attention on the ideas rather than the presenter, removing bias from the feedback process.

Removing Bias Of The Presentation Style

Rather than prioritizing the consumer experience, product teams look for inspiration closer to home. They may begin by appraising the skills of their research and development teams, or by being limited to the company's cost and profit margin choices.After they've created a new product that fulfils the company's needs, they hand it over to their sales and marketing department, which considers how to persuade customers to buy it. This forward-thinking mentality frequently results in organizations holding things that they desire but their customers don't.

How Normal Companies Usually Work

What does it mean to work backwards? It means prioritizing the client at Amazon. When Amazonians come up with new product ideas, they don't start with Amazon's needs and capabilities in mind. Instead, they exclusively evaluate what will improve the lives of their clients.They work backwards to make the customer-centric product a reality once they've found an answer.

Working Backwards

If a product team has a new product idea, they should start by drafting a one-page document. This paper is formatted like a press release. It imagines that the product has already been created and extols the benefits that the product will bring to Amazon's customers. The product team also creates a frequently asked questions document, or FAQ, in addition to the press release. The FAQ is a five-page document that answers queries from customers and internal personnel.

The Press Release And FAQ Method

Many consumers still didn't find online purchasing convenient in the mid-2000s. Most things still took several days to arrive, which meant that consumers who wanted something quickly, such as a last-minute gift, preferred to shop at a physical store. Shipping charges, which were quite high in the early days of e-commerce, also turned off many customers. Customers were more likely to buy from Amazon when the company offered free shipping rather than discounts on the products themselves.By working backwards, Amazon is able to work with the foundation of its first principle: Customer Obsession.

Customers Love Free Shipping

In 2005, Bezos created Amazon Prime, a subscription-based membership club which offered free two-day shipping and a reduced alternative for next-day delivery. Amazon registers $25.21 billion in annual revenue from retail subscription fees from its over 200 million members, making it a massively successful idea.

Amazon Prime: The Result Of Customer Obsession

Essential reads for entrepreneurial growth, curated by Lenny Rachitsky.

strategy

Strategy

books

Books

startup

Startups

entrepreneurship

Entrepreneurship

productivity

Productivity

timemanagement

Time Management

Lenny’s Top Business Books

 A few great ideas and innovations from Amazon.

Working Backwards is an insider's breakdown of Amazon's approach to culture, leadership, and best practices from two long-time Amazon executives. Colin started at Amazon in 1998; Bill joined in 1999. In Working Backwards, these two long-serving Amazon executives reveal and codify the principles and practices that drive the success of one of the most extraordinary companies the world has ever known. With twenty-seven years of Amazon experience between them, much of it in the early aughts—a period of unmatched innovation that brought products and services including Kindle, Amazon Prime, Amazon Studios, and Amazon Web Services to life—Bryar and Carr offer unprecedented access to the Amazon way as it was refined, articulated, and proven to be repeatable, scalable, and adaptable. With keen analysis and practical steps for applying it at your own company—no matter the size—the authors illuminate how Amazon’s fourteen leadership principles inform decision-making at all levels and reveal how the company’s culture has been defined by four characteristics: customer obsession, long-term thinking, eagerness to invent, and operational excellence. Bryar and Carr explain the set of ground-level practices that ensure these are translated into action and flow through all aspects of the business. Working Backwards is a practical guidebook and a corporate narrative, filled with the authors’ in-the-room recollections of what “Being Amazonian” is like and how it has affected their personal and professional lives. They demonstrate that success on Amazon’s scale is not achieved by the genius of any single leader, but rather through commitment to and execution of a set of well-defined, rigorously-executed principles and practices—shared here for the very first time.

corporateculture

Corporate Culture

Working Backwards is an insider's breakdown of Amazon's approach to culture, leadership, and best practices from two long-time Amazon executives—with lessons and techniques you can apply to your own company, and career, right now. In Working Backwards, two long-serving Amazon executives reveal the principles and practices that have driven the success of one of the most extraordinary companies the world has ever known. With twenty-seven years of Amazon experience between them—much of it during the period of unmatched innovation that created products and services including Kindle, Amazon Prime, Amazon Studios, and Amazon Web Services—Bryar and Carr offer unprecedented access to the Amazon way as it was developed and proven to be repeatable, scalable, and adaptable. With keen analysis and practical steps for applying it at your own company—no matter the size—the authors illuminate how Amazon’s fourteen leadership principles inform decision-making at all levels of the company. With a focus on customer obsession, long-term thinking, eagerness to invent, and operational excellence, Amazon’s ground-level practices ensure these characteristics are translated into action and flow through all aspects of the business. Working Backwards is both a practical guidebook and the story of how the company grew to become so successful. It is filled with the authors’ in-the-room recollections of what “Being Amazonian” is like and how their time at the company affected their personal and professional lives. They demonstrate that success on Amazon’s scale is not achieved by the genius of any single leader, but rather through commitment to and execution of a set of well-defined, rigorously-executed principles and practices—shared here for the very first time. Whatever your talent, career or organization might be, find out how you can put Working Backwards to work for you.

Colin Bryar joined Amazon in 1998 - four years after its founding - and spent the next twelve years as part of Amazon's senior leadership team as Amazon grew from a domestic (US-only) seller of books to a global, multi-dimensional powerhouse and innovator. For two of his years at Amazon, Colin was Chief of Staff to Jeff Bezos, AKA 'Jeff's shadow', during which he spent each day attending meetings, travelling with, and discussing business and life with Jeff. After Amazon, he and his family relocated to Singapore for two years where Colin served as Chief Operating Officer of e-commerce company RedMart, which was subsequently sold to Alibaba. Colin is co-founder of Working Backwards LLC where he coaches executives at both large and early stage companies on how to implement the management practices developed at Amazon.

Colin Bryar

Bill Carr is an accomplished writer whose work has resonated with readers around the world. Bill Carr has published several books that explore a range of topics, from fiction to nonfiction, and has received critical acclaim for the ability to weave compelling narratives. Bill Carr's writing style is known for its depth and authenticity, and has earned quite a loyal following of readers.

Bill Carr

Culture is the way a gathering of individuals does things together. It alludes to the mutual language, values, conventions, standards, customs, expressions, history, or foundations of a gathering of individuals. It is the standard convictions, social structures, and material attributes of a racial, strict, or social gathering.It is characterized as a unique procedure of encircling suspicions, information, and implications from another person’s experience which is not quite the same as our own and looks past “culture as ethnicity” to investigate the complexities of individual social perspective

Importance of Cultural Competence today!

Globalization has revolutionized societies around the world. Immigration has bought colossal changes and led to inclusions of diversity making culturally congruent an imperative obligation in an increasingly diverse environment with culturally diverse populations around the world. It is important to be culturally competent in an organization so that we can acquire much deeper self-knowledge and understand the basis for our own beliefs, actions, and responses toward others and we live in a world in which it helps acknowledge and respect a client’s beliefs to amplify the positive outcomes.

Why now?

A myriad of cultures are disparate and unique and by understanding the cultural genesis of our own and other's behaviours, and by remaining open to the idea that other people’s cultures guide them in the same way that ours guides us, we as humans will have a better chance of interacting positively with, and appropriately serving, people of varying cultural backgrounds. It allows us to analyze one’s own beliefs and be educated about the varying viewpoints. Such understandings are particularly important because cultural perspectives and beliefs profoundly affect us all.

Conclusion

Cultural Competence allows us to analyze one’s own beliefs and that of others and be educated about the varying viewpoints. Such understandings are particularly important because cultural perspectives and beliefs profoundly affect all aspects of people’s behaviour. It helps promotes inclusion and equality and make others feel secure and equal as their own customs and beliefs are included in mainstream practice hence making the business culturally competent.

Cultural competence is characterized as a unique procedure of encircling suspicions, information, and implications from another person’s experience which is not quite the same as our own and looks…

health

Health

communication

Communication

teamwork

Teamwork

Importance of Cultural Competence in Workplace…

Navy SEALs are the most elite warriors on earth.How do they become that way?By developing an unbreakable mindset. But what is a mindset? In simple terms, mindset is how you view and process the world around you. It influences how we think, feel and act in any situation.Our mindset is impacting us (for better or worse) every moment of every day, whether we realize it or not.

An Unbreakable Mindset

“Be patient” is the first pillar of mindset. We must be patient in 3 ways:<ul><li>with ourselves</li><li>with our teammates</li><li>with the process</li></ul>

The Three Pillars Of Mindset: Being Patient

We’re going to make mistakes.It’s part of the process of growth.When we do, patience will help us:• overcome it• learn from it• continue on

Be Patient with Ourselves

Our teammates are human. They will also make mistakes. Getting frustrated with a teammate doesn’t help them or you.If you want to be a great teammate, start by being patient.

Being Patient With Our Teammates

Everything is a process. We can’t achieve a goal on the first step. We can’t master a new skill on Day 1 of practising it. Being patient with the process helps us be consistent.Relentless consistency over time wins.

Being Patient With The Process

We can apply patience every day in countless ways.Start with yourself. What are you working towards?Give yourself permission to be patient.Then start being more patient with others.

Applying Patience

“Be present” is the second pillar of mindset.SEAL training is notoriously difficult.But SEALs often say the same thing: There’s no single element that’s extraordinarily difficult.Almost everyone can complete each one.It’s the totality of it that breaks people.

Being Present

When do you think most people quit in SEAL training? Hell Week? No.Most people quit in one of the *easiest* evolutions.It’s a 1-mile beach run. No time requirement. You just have to look like you’re running.The catch: you don’t know when it will end. Run until the instructors tell you to stop.So why do so many quit when all they need to do is lightly jog?Simple: they fail to stay present.Instead of thinking about the next step, they wonder when it will end. They tell themselves they can’t do this for hours longer.They become mentally broken.

The Secret: The Part Where Most Trainees Quit SEAL Training

Focus on what you’re doing right now.Not later today, not tomorrow, not next week.Practice training your mind to be in THIS moment.You’ll fail - it’s okay. Just bring yourself back.Practice this consistently, and you’ll quickly develop the muscle.

How To Stay Present

“Be deliberate” is the third pillar or mindset.Being deliberate means exercising self-control. We must be deliberate in 2 ways:• with our actions• with our speech

Being Deliberate

For SEALs, this is obvious. Every physical action can mean life or death in combat. Thankfully for most of us, that’s not the case. But our actions still matter. They keep us safe, healthy and productive.

Be Deliberate With Your Actions

The spoken word is powerful.Most SEALs waste few words.They're extremely intentional in what they say.This has been trained into them. When things get hard, the power of our speech is amplified.Our tongue is our rudder.

Being Deliberate With Your Speech

Pay attention to what you do. • What do you eat? • How do you recharge?• How do you manage your time? Pay attention to your words. • Do they serve you or others? • Do they supply energy vs. drain it?• Are they effective?Be intentional.

How To Be Deliberate

So, that’s how Navy SEALs teach mindset.1. Be patient2. Be present3. Be deliberateIt's simple, not easy.But if it works in the most high-risk environments on earth, it will work for you.

The Bottom Line

motivationandinspiration

Motivation & Inspiration

An Unbreakable Mindset: What Navy Seals Do

People think they can't get rich unless they were born rich.Bullshit.Here's how you can go from zero to millionaire.

From Rags To Riches

Unless you win the lottery, nobody will hand you $1 million.You have to own your life:• Know what you want• Understand what it takes• Do the work. Day in. Day out

Own Your Life, Your Time, Your Work

Unless you win the lottery, nobody will hand you $1 million.You have to own your life:• Know what you want• Understand what it takes• Do the work. Day in. Day out

Own Your Life, Your Work, Your Time

Wealthy people never stop learning:• Books• Coaches• Online courses• Business teachersThey spend money to make money.An average person focuses on the $10,000 cost,A wealthy person focuses on the $100,000 they will make from it.

Invest In Yourself

People focus on in-demand skills.Instead, focus on Rare Skills.Rare skills combine multiple skill-sets into a super-power,such as an accountant who:• Understands leadership• Is a public speaker• Is a strong writer

Focus On The Rare Skills

Nothing matters more than this.When you've never achieved hard things, everything seems scary.When you've done an Ironman or an Ultramarathon, everything seems easy.<ul><li>Start small.</li><li>Take the first step.</li><li>Do hard things regularly.</li></ul>

Do The Hard Things, Every Day

You have a white-collar job,and you need a blue-collar work ethic.Whether it's your business, or a 9-5, hard work gets you the reward:• Work on the right thing• Be smart about it• Outwork others

Outwork Others

You become wealthy by learning from wealthy people.Get in the right rooms.You will become wealthy when your friends are focused on becoming wealthy.You are who you surround yourself with.Build the right circle.

Be In The Right Place

You don't become wealthy by trying to look wealthy.That's a path to the poor house.Get your money working for you.Spend less than you're making and invest:• as soon as you can• as much as you can• as consistently as you can

Spend Less Than You Make

90% of millionaires get there through real estate—the simplest path for all of us.We don't need to be smart enough to be an entrepreneur or launch a startup.Buy the right assets in the right locations.When your horizon is long enough you'll always win.

Buy Real Estate

Financial twitter tells you debt is terrible.They're right, to an extent, but not all debt is created equal.Bad debt:• Credit cards• consumer loansGood debt:• mortgages on real estate• loans to start a profitable business

Use Leverage

Taking a contrarian view isn't enough, You need to take action on those views. The single greatest driver of your financial success will be the actions you take. Day in. Day out.

Be Convicted in Your Views

• You're convicted• You are taking actionNow, you need to go deep.The average person diversifies, great.You've already decided you don't want to be average.Once you know your path to becoming a millionaire, you need to go deep.

Once You Decide, Go Deep

Once you press go,do not stop.Smart choices + consistency + time = exponential results.Get the flywheel turning and then keep it turning ever forward.

Be Consistent

If you don't start with money and want to be a millionaire:• Spend less than you make• Take alternative views• Focus on rare skills• Outwork the room• Invest in yourself• The right room• Buy real estate• Own your shit• Be convicted• Use leverage• Be consistent

This Is How You Become Rich

moneyandinvestments

Money & Investments

How To Get Rich

Problems aren’t personal.They are systemic.<ul><li>Your mind is a system containing systems.</li><li>Your body is a system containing systems.</li><li>The universe is a system containing systems.</li><li>Purpose is the divine force by which you conduct your life.</li><li>Purpose is the intrinsic energy that makes positive choices seamless.</li><li>Purpose is the compass that guides you inward — unmoved by external circumstances.</li></ul>

Finding Purpose By Solving Your Own Problems

By solving systemic problems, allowing nature to flow as it was meant to.Bring these questions to the top of your mind:What is the big problem you want to solve in the world?What is the big problem you want to solve in your life?With experience, you will realize that the answer to these questions is one and the same.At this very moment, what is it? What is your inward pull?

Finding Purpose

Chances are that the inward pull — where you will find your purpose — is painted over with layers of societal opinions, beliefs, and other projections that have been hard wired in your brain over years of unconscious living.<ul><li>That inward pull, for those that may not understand, can go by many names.</li><li>Some call it your higher voice. Some call it your calling. Some call it the universe.</li><li>For now, we will call in The Pull.</li></ul>

The Inward Pull

How To Profit From Solving Your Own Problems - Dan Koe

Find  Self Improvement Tips - Curated from popular Books like Atomic Habits, 48 Rules of Power, Deep Work, Rich Dad Poor Dad and way more!

What is innovation?

489. Is “Toxic Positivity” a Thing?

Working Backwards

Importance of Cultural Competence in Workplace…

An Unbreakable Mindset: What Navy Seals Do

How To Get Rich

How To Profit From Solving Your Own Problems - Dan Koe

Why You Can't Enjoy Life - Dan Koe

It's the Manager

Paradox Mindset: The Source of Remarkable Creativity in Teams

It's time to
Read like a Pro.

What is innovation?

489. Is “Toxic Positivity” a Thing?

Working Backwards

Importance of Cultural Competence in Workplace…

An Unbreakable Mindset: What Navy Seals Do

How To Get Rich

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It's time to Read like a Pro.

It's time to
Read like a Pro.