Friday, 11 August 2017

Of Tools of Titans Part IV

For anyone interested in how business ideas develop and get traction “Tools of Titans” is packed full of nuggets. Here are my top five 

1. Ask yourself what do you believe that others think is insane?
It is essential to get lost and jam up your plans every now and then. It’s a source of creativity and perspective. The danger of maps, capable assistants and planning is that you may end up living your life as planned. If you do, you cannot possibly exceed your expectations.

2. What conventional wisdom was shunned?.

Scott Belsky says “I avoid using a past success as a proxy for the future. After all, the dirty little secret is that every success was almost a failure. Timing and uncontrollable circumstances play more of a role and any of us care to admit.
“Perhaps the greatest lesson from the past is how important it is to be inspired by things that surprise us. When I come across a quirky business model in an unpopular space, I try to find a fascinating thread worth pulling. I challenge myself to stop comparing what I learn from the past. If you only look for patterns of the past you wont venture very far.”

3. The importance of crazy ideas.

Peter Diamandis “ I talk to CEOs all the time, and I say, “Listen the day before something is truly a breakthrough, it’s a crazy idea. If it wasn’t a crazy idea, it’s not a breakthrough; it’s an incremental improvement. So where inside of your companies are you trying crazy ideas?”

4. A problem is a terrible thing to waste

This is highly related to the “scratch your own itch” thread that pops up throughout this book. Peter expands : “I think of problems as gold mines. The world’s biggest problems are the world’s biggest opportunities.

WHEN 99% of people doubt you, you’re either gravely wrong to about to make history

5. The importance of defending yourself against the priorities of others

Saying yes to too much “cool” will bury you alive and render you a B-Player even if you have A-Player skills. To develop your edge initially you learn to set priorities; to maintain your edge, you need to defend against the priorities of others. Once you reach a decent level of professional success, lack of opportunity won’t kill you. It’s drowning in “kinda cool” commitments that will sink the ship”!

“Ours is a culture where we wear our ability to get by on very little sleep as a badge of honour that symbolizes work ethic, or toughness, or some other virtue – but really, it’s a total profound failure of priorities and of self-respect”

 “Follow your dreams”. It’s impossible to do without self-knowledge, which takes years. You discover your dream (or sense of purpose) in the very act of walking the path which is guided by equal parts choice and chance”.

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