Here is your Seven-Bullet Monday
1. A quote I am pondering:
"Initiating is really and truly difficult, and that's what leaders do. They see something others are ignoring, and they jump on it. They cause the events that others have to react to. They make change." ― Seth Godin
It is hard to initiate, but that is what the best leaders do. They recognize opportunities others overlook or ignore and take decisive action. If, as leaders, we can proactively address these opportunities, we can shape the future and bring others along with us.
2. A question I am asking myself:
How do I get better at remembering names?
Name recollection has always been my weakness; therefore, it's a perennial challenge. So I am focusing on repeating a person's name several times when I meet them, writing it down somewhere, and associating their name with something memorable. Someone also said to visualize their name's spelling, which I am yet to try.
3. A book I am reading:
Let My People Go Surfing – Yvon Chouinard (founder of Patagonia)
I enjoyed this book, which has similar themes to Mid-course Correction by Ray Anderson. In the book, Chouinard tells how he built Patagonia from its humble beginnings as a small climbing equipment company to becoming a global leader in outdoor apparel. Throughout the book, he challenges the regular business norms and shows how to build a successful clothing business while protecting the natural world. It was also interesting to learn about Patagonia's major clothing repair program, which limits the impact of clothing consumerism and the wastage that goes with it.
4. What I learnt this week
AI is going to change practically everything
I attended an AI presentation this week, have been researching the topic and am testing it in several ways. Whether you are excited about AI, frightened of it, or both, it will pay you to get up to speed with its capabilities and what changes it could bring to your life. To the extent you can, you need to get ready to ride rather than be swamped by the wave of rapid and accelerating change AI will bring. Right now, the likes of ChatGBT can save you time and help you be more effective in several ways for little or no cost.
5. The highlight of my week
Attending a MacKay Forum Mastermind event
Last week, I attended my first MacKay CEO forum. It was enjoyable meeting a bunch of people in senior roles in different industries and hearing of their successes and challenges, some similar and others very different to my industry. It was also in a Mastermind format, where participants helped each other and gave advice on their most pressing problem or opportunity. It was great to experience collective wisdom and see the attendees leave with extra insight on tackling their next big thing.
Commit to second-level thinking
When it comes to investing, there are two ways of thinking. First-level thinking takes less effort and is based on basic judgments and popular opinions. On the other hand, second-level thinking is more advanced. It involves considering several things, like possibilities and chances, and sometimes going against the majority's beliefs.
To be a successful investor, you need to look at various possible outcomes, develop your views separate from what others think, and decide how much something is worth based on that. Beating the market by making better predictions than others is not easy. To do that, you must spend time on an issue and be willing to act on your convictions. The consensus opinion on the market is mostly correct, but not always, and if you can decipher the difference, it will allow you to make smarter investing decisions.
7. My challenge for you for this week
Prioritize the most productive hours of your day to do your most important (not most urgent work)
When is your most productive time of the day, and what are you typically doing then? If you can use that hour or two for your most important work, you will increase your productivity and effectiveness. Because your energy is typically higher during your peak hours, you have better focus, and your cognitive abilities are stronger, all of the attributes needed to conquer essential things.
So, if you are a morning person, are you catching up on email first or doing the most challenging/essential thing of the day? If you are a night owl, are you watching TV or on your phone at that time instead of pushing out an important project? Taking this approach is a great way to make daily progress on the things that matter.
Have a wonderful week.