We were all taught what can be best described as prediction reasoning.
“Creaction”, a word we made up by combining creation with action.
The future may or may not be like the past, but you don’t have to spend a lot of time wondering how it will play out if you plan to shape. (i.e. create) it.
Act, Learn (from that action), and Build (off that learning), and act again.
Entrepreneurs are not committed to the plan (starting a PR firm); they are committed to the goal.
Prediction reasoning- a way of thinking based on the assumption that the future is going to be pretty much like the past.
In the face of an unknown future, entrepreneurs act. More specifically, they take a small but smart step, they pause to see what they learned by doing so and they build that learning into what they do next.
Act, Learn, Build.
It is the action you take based on the resources you have at hand and never involves more than you can afford to lose, that it, your acceptable loss.
“Action trumps everything.”
It is based on acting and creating evidence, as contrasted with thinking and analysis.
Desire, Take a smart step as quickly as you can, act quickly with the means at hand, stay within your acceptable loss, bring others along, Build.
The ability to act your way into better thinking.
If you have insufficient data, make your own.
You need to discover you are right about there being a potential audience or customer for your ideas (and learn what you need to change if there is not.)
So thinking you have you have to be passionate can take you down the wrong road.
While passion at inception isn’t necessary, desire IS.
But that passion was not necessarily present at inception.
While in the short term, an intellectual desire can win battles with and emotional desire, in the long term, emotional desires carry the day.
Terminal desires can be particularly powerful.
Have the means at hand to get it, and the next step is within your acceptable loss, the most natural thing in the world is to act. In fact, it’s almost unnatural not to.
No matter how scary or unsettling starting a new venture may be, the alternative of doing nothing is worse.
Getting rid of something you don’t want can be a great spur to action.
But the problem is that it is not great enough to sustain you over time.
It is always more desirable to move toward something you truly want than to move away from something you hate, or to move toward something that strikes you as a good idea but you don’t truly care about it.
Why desire is so important:
It is feasible, that is, is it within the realm of reality?
Can i do it, that is, is it feasible for me?
Is it worth doing? Will there be a marker for what I want to sell? Is there potential to turn a profit? Will people appreciate what I am trying to do? In other words, does it make sense to put in all that effort?
Do I want to do it?
Nobody will be committed to what you’re doing if they don’t see your desire for it, your belief in your idea, and your willingness to try to accomplish it.
Whether your feelings have an impact on your ability to create what you want is entirely your option.
Swings of enthusiasm are natural. Taking a break is healthy, and it might help you gain perspective.
As long as you have desire, persist.
If the loss of desire seems too permanent, it is time to do something else.
Act quickly with the means at hand. Assess your acceptable loss. Build on what you find. Bring other people along.
Two major elements to the creative process are the “want” and the “don’t have.”
Who am i? (traits, skills, tastes and inclinations) What do I know? (education, training, experience and expertise) Who do I know? (in your personal, social and professional networks- who can help this idea succeed?
Self awareness is key.
Making assumptions based on nothing beyond what makes sense to you is not the right road to take.
When you are heading off into the unknown, understanding current reality is a very, very, very good idea.
Doing anything in the unknown entails risk.
Decide how much you can afford to lose before you get underway.
Fail quickly and cheaply while learning alot.
They don’t like risk. They accept it as part of the game and work extremely hard to reduce it to a minimum.
Instead of focusing on expected return, or how much they could possibly make, their attention is on acceptable loss, or how much they might lose, should those things not turn out the way they hope.
This gives you a different way to evaluate an opportunity, a way that does not depend entirely on profits.
The amount of money at risk is clearly defined.
What can I afford to pay to take the next step? What am I willing to pay to take the next step?
Guard your time just as much as you guard your money.
Have a time limit- willing to give this idea up to 6 mo’s etc... to see if it will work.
You don’t want your new venture to be an embarrassment, which could affect your self-esteem or fail to represent who you truly are.
Plan to do extremely carefully to make that loss of spending time with them worthwhile.
Be mindful about what you are choosing not to do.
If you fail, you fail cheaply.
Knowing how much you can lose, and trusting yourself not to exceed that amount.
Before you start, assume the new venture has failed spectacularly. Then write down every plausible reason you can think of to explain the failure.
He expects to be successful, but has identified his acceptable loss.
If you adapt to you means, you end up having more options to pursue.
Creaction tend to find ways to reach the market with a minimum expenditure of resources such as time, effort, and money.
Take a prototype to the nearest potential customer and, in an attempt to receive an order, describe in elaborate detail the ultimate features and benefits.
Take a prototype to the nearest potential customer and, in an attempt to receive an order, describe in elaborate detail the ultimate features and benefits.
At any point in your journey, you feel it isn’t going to work out, you quit.
Assessing your acceptable loss: What are my assets? What can I afford to lose? What am I willing to lose in the worst case?
Problems and obstacles are actually assets.
No such things as problems, just opportunities.
Every action you take causes a change in reality (thinking doesn’t)
You realize you never wanted to run a company, only start one.
If you are doing what everyone else is, you don’t have an advantage.
But what if you can’t solve the problems you face. Try this; accept the situation to the point of embracing it.
Bernie Goldhirsh struggled for years trying to start a sailing magazine in the early 1970’s. His problem? There were no resources for budding entrepreneurs to draw on. And so he started Inc. magazine to help people just like him.
Despite how unpleasant something unexpected seems, try this approach next time, “This is really good news.” And then try to make it so.
If you assume everything, even the unexpected, is a gift, it almost invariably will be.
Babson College research shows that there are fewer and fewer examples of entrepreneurs going it alone.
People enroll with you, perhaps even more so than with your vision. That’s why you tell the complete truth. And they will either join you, or not.
Honest selling is a noble profession.
You cannot buy anybody’s commitment.
Rewrite your desires as if it were fully accomplished and successful. What would it look and feel like?
Enrollment is getting people to buy in and be excited along with you. It’s a voluntary, personal commitment on their part.
Selling is getting someone else to do something that you would like him or her to do.
You want both. Sales without enrollment creates a customer, and that’s fine. Enrollment without a sale creates people who talk positively about what you are trying to do. That’s good, too. But when you have both, truly remarkable things happen.
Intelligent action and do what you can with what you have, which describes Creaction perfectly.
In situations that are predictable, predict.
The more unpredictable, the less logical it is to use Prediction.
The less predictable a situation is, the less you should be willing to pay to play.
Desire mediates (offsets) what you are willing to pay to play.
Action always leads to evidence and learning, thinking does not.
Prediction incurs costs that are often overlooked.
Is there a way for me to act in this situation? If there is, the question becomes, “Is there a way for me to act quickly and at acceptably low cost that will get me better or more information or put me in further ahead than sitting and thinking about this anymore?” What would constitute a relatively quick, smart, low cost ation in this situation?
Often you will find yourself at a point in the process where learning is more important than predicting, and you can best get that learning by doing.
Changing the way you approach problems can feel awkward, unfamiliar, and even threatening. Two suggestions: Fully imagine yourself taking the unfamiliar road. See how it feels, Then see if you can be comfortable enough with that discomfort, if it’s there. And as always, talking this through with a friend is a really good idea.
Grow and create new products or services in a marketplace that becomes more competitive by the day.
Organizations default to “Staying on plan” as opposed to building on what they find in the marketplace.
Organizations, like the human body, tend to reject new foreign things inserted into them.
The universe grows seemingly more unpredictable by the minute.
The future is basically unknowable. This is why it makes sense to apply and use “creaction.”
Imitation will probably not be very successful.
No two organizations are exactly the same.
In early phases- keep it low key.
Don’t mislead people into thinking that things will change quickly or that their lives will be different.
Mantra- “Underpromise and Overdeliver”
Pick up a couple of small wins before you go any further.
If you want intelligent initiatives and/or potentially lucrative experiments, Creaction is for you.
Always make the next step you want to take both compelling to the people you are speaking with and affordable.
Ensure that you really want to take the next step. You’re not going to enroll anyone else it it’s not something that is really meaningful to you.
If you are married when it comes to acceptable loss, the question to ask is not, “How much am I willing to lose?” but, “How much are we willing to lose?”
So the steps you take with family generally appear to be more irrecoverable.
In a straightforward business transaction among people who know each other slightly (or not at all), everyone generally understands the nature of the deal. People bring obvious resources to the table, and it’s pretty clear what they expect in return.
You don’t know what is going to happen, and the only way you’re going to find out is to take a step and see where you are and figure out what the next step is after that.
It doesn’t have to be optimal action, at first, just focus on progress.
John F. Kennedy said, “Few will have the greatness to bend history itself, but each of us can work to change the small portion of events, and in the total of all those acts will be written in the history of this generation. It is from numerous diverse acts of courage and belief that human history has been shaped. Each time a man stand for an ideal, or acts to improve the lot of others, or strikes out against injustice, he sends forth a tiny ripple of hope, and crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance.”
Energy, not time, is the fundamental currency of high performance
Performance, Health and Happiness are grounded in the skillful management of energy.
Principle 1: Full Engagement requires drawing on four separate but related sources of energy. Physical, emotional, mental and spiritual.
To maintain a powerful pulse in our lives, we must learn how to rhythmically spend and renew energy.
We build emotional, mental and spiritual capacity in precisely the same way that we build physical capacity.
(Keep in mind- Managing energy, not time, is the fundamental currency of high performance. Performance is grounded in the skillful management of energy. Great leaders are stewards of organizational energy. They begin by effectively managing their own energy. As leaders, they must mobilize, focus, invest, channel, renew and expand the energy of others.)
Energy is simply the capacity to do work. Our most fundamental need as human beings is to spend and recover energy.
We are oscillatory beings in an oscillatory universe. Rhythmicity is our inheritance.
Death from overwork
Expanding capacity requires a willingness to endure short-term discomfort in the service of long-term reward.
(keep in mind: Our most fundamental need as human beings is to spend and recover energy. We call this oscillation. “Performance Pyramid”- Physical, Emotional, Mental and Spiritual. Expanding capacity requires a willingness to endure short-term discomfort in the service of long-term reward.)
Physical Energy: Fueling the Fire
(Keep in mind: The two most important regulators of physical energy are breathing and eating. Eat five to six low calorie, highly nutritious meals a day… Take breaks every 90-120 minutes.)
Emotional Energy: Transforming Threat into Challenge
(Keep in mind: Any activity that is enjoyable, fulfilling or affirming serves as a source of emotional renewal and recovery.)
Mental Energy: Appropriate Focus and Realistic Optimism
The Plasticity of the Brain
Poor Time Management, Short Attention Span
(Keep in mind: They key supportive mental muscles- Preparation, Visualization, Positive Self-Talk, Effective Time Management and Creativity. Continuing to challenge the brain serves as protection against age-related mental decline.)
Spiritual Energy: He Who Has a Why to Live
Lack of Follow Through, Unreliability
Defining Purpose: The Rules of Engagement
A Purpose Beyond One’s Self
Values & Virtues
(Keep in mind: A vision statement, grounded in values that are meaningful and compelling, creates a blueprint for how to invest our energy.)
Face the Truth: How Are You Managing Your Energy Now?
Gathering the Facts
Perception and Reality
(Keep in mind: Facing the truth frees up energy. Avoiding the truth consumes great effort and energy. Truth without compassion is cruelty, to others and to ourselves. A common form of self-deception is assuming that our view represents the truth, when it is really just a lens through which we chose to view the world. Facing the truth requires that we remain an ongoing openness to the possibility that we may not be seeing ourselves-or others- accurately.)
Taking Action: The Power of Positive Rituals
The Rituals of Stress and Recovery
Precision and Specificity
Doing Vs. Not Doing
(Keep in mind: The more exacting the challenge and the greater the pressure, the more rigorous our rituals need to be. Trying not to do something rapidly depletes our limited stores of will & discipline.)
Purpose as a Fuel
Essentialism by Greg Mckeown
Is this the very most important thing I should be doing with my time right now?
The way of the Essentialist is the relentless pursuit of less but better.
Determining where our highest point of contribution lies, then making execution of those things that almost effortless.
If you don't prioritize your life, someone else will.
..."the undisciplined pursuit of more"
When we try to do it all and have it all, we find ourselves making trade-offs at the margins that we would never take on as our intentional strategy.
Deliberately and strategically eliminating the nonessentials, and not just getting rid of the obvious time wasters, but cutting out some really good opportunities as well.
Focus on what is absolutely essential by eliminating everything else.
We can choose how to spend our energy and time.
Almost everything is noise, and a very few things are exceptionally valuable.
The reality of trade offs -We can't have it all or do it all.
What do I feel deeply inspired by? What am I particularly talented at? What meets a significant need in the world?
Right thing at the right time.
We must give ourselves permission...
Chose is an action.
Doing less but thinking more.
Certain types of efforts yield a higher reward than others.
Less but better.
Law Of The Vital Few: You can massively improve the quality of a product by resolving a tiny fraction of the problems.
Certain efforts actually produce exponentially more results than others.
Discern more so you can do less.
Essentialist asks - What is the trade off I want to make? What can I go big on?
If people are too busy to think, they're too busy, period.
Focus is something we DO.
Essentialist - Creates space to escape and explore life.
"The faintest pencil is better than the strongest memory."
Journaling is super important. >> Action item
Play leads to brain plasticity, adaptability, and creativity. Nothing fires up the brain like play.
The real challenge for the person who thrives on challenges is not to work hard.
Our highest priority is to protect our ability to prioritize.
Everything should be a Hell No or Hell Yes. No middle ground.
If isn't a clear yes, then it's a clear no.
If we could be truly excellent at only one thing, what would it be?
How will we know when we have succeeded?
Choose "no" more often than you say no. Say no frequently and gracefully.
-Use the words - You are welcome to X. I am willing to Y.
Sunk Cost basis - the tendency to continue to invest time, money or energy into something we know is a losing proposition simply because we have already incurred or sunk cost that cannot be recouped.
-If I weren't invested in this project, how much would I invest in it now?
-What else could I do with this time or money if I pulled the plug now?
-Comfortable with cutting losses.
Endowment effect - our tendency to undervalue things that aren't ours and overvalue things because we already own them.
Apply zero based budgeting - start from scratch when building budgets.
Stop making casual commitments.
Pause before you speak.
Cut out options to make better decisions.
We must summon the discipline to get rid of options or activities that may be good, or even really good, but that get in the way. Every additional moment gained can be spent on something better.
Eliminate meaningless activities and replace them with meaningful activities.
Edit your tendency to step in.
The boundary 0f work has edged insidiously into family territory.
Craft social contracts with difficulty people and situations - "Let's just agree on what we want to achieve".
Create buffer zones to create extra space. The future is simply too unpredictable - build buffers to reduce friction caused by the unexpected.
The essentialist makes a one time investment into removing obstacles to bring forth more.
-Be clear about the desired income.
-What is keeping me from completing this?
-Remove the obstacle.
Start small and celebrate progress. Small simple wins in essential areas.
Progress is the most effective motivation.
When we start small and reward progress, we end up achieving more than when we set big lofty and often impossible goals.
Routines are very important. If we create a routine that enshrines the essentials, we will begin to execute them on autopilot.
Every habit is made up of a cue, a routine and a reward.
The way of the essentialist is to tune into the present. They don't diffuse their efforts with distractions.
What is good for the mind is good for the soul.
We can't concentrate on two things at once.
What is important right now? Be there.
In work, do what you enjoy. In family life, be completely present - Lao Tzu
As ideas become emotionally true, they take on the power to change you.
Focusing on essentialism is a choice.
Clear intent leads to alignment; vague direction produce misalignment every time.
Be really clear about what your team is expected to contribute and what everyone else is contributing.
The more items one pursues, the harder it is to follow up on all of them.
By checking in with people frequently to reward small wins and help people remove obstacles, you will bolster the team's motivation and focus and will enable them to make more meaningful progress.
"Essentialism by Greg Mckeown" Notes...
ASK: “Is this the very most important thing I should be doing with my time right now?”
Pursue less but BETTER
Determine where the highest point of contribution lies and then make an execution of those things almost effortless.
If you don’t prioritize your life, someone else will.
Focus on what is absolutely essential by eliminating everything else.
ASK: Will this effort or activity make the highest possible contribution towards my goals?
We can choose how to spend our energy and time
Almost everything is noise and a very few things are exceptionally valuable.
We can’t have it all or do it all.
The right thing AT the right time THE right way.
Choice is an action
Certain types of efforts yield higher rewards than others. LESS BUT BETTER
The Law Of The Vital Few - You can massively improve the quality of something by changing small key elements.
An "Essentialist" discerns more so he can do less.
ASK: What is the trade-off I want to make- What can I go big on?
Playing is key part of life. DO NOT ignore play.
Overachievers- The real challenge for those who thrive on challenges is NOT to work hard.
Rest is EXTREMELY important.
Do fewer things no so you can do more tomorrow. (long term mentality)
Pursuit of something should be a HELL YEAH! or its a No. Has to be a definite yes.
Give things a score from 0-100 if its less than 90 do not do it.
ASK: If we could truly be excellent at only one thing, what would it be?
Learn to say NO frequently and gracefully. ONLY say yes to the things that truly matter!
Avoid the “sunk cost bias” - not cutting something off because you’ve put too much in it.
ASK: If I wasn’t already invested in this, how much would I invest now?
ASK: What else could I do if I pulled the plug now?
Comfortable with cutting losses
Making things better means SUBTRACTING
Get rid of options or activities that get in the way!
Every additional moment we have gained can be spend on something better.
Pursue less efforts to get results.
Eliminate meaningless activities and replace them with meaningful activity.
Restrain for stepping into issues or things that will burn time and energy.
Create Buffers - things that keep us from coming into contact with things that harm us. Money can be buffer, time processes, etc.
Use extreme preparation - prepare FAR in advance.
Add 50% to your time estimates.
Make a one time investment in removing “slow hikers” or things that get in the way of your processes.
Start small and celebrate small progress.
Progress is the number one form of motivation
DESIGN A ROUTINE THAT MAXIMIZES ALL ABOUT YOU AND MINIMIZES THINKING, TIME AND ENERGY.
Every habit is made up of a “Cue, Routine and Reward”.
Enjoy the “Present”. Be present where you are.
There is no way to “Concentrate” on multiple things at once. NO WAY
Make existentialism something you are.
The more items you pursue, the harder it is to follow up on all of them.
"The Legend of the Monk and the Merchant by Terry Felber" Notes...
*Christians have a responsibility in business. Everything we do as believers can and should be done from a paradigm of ministry.*
Principal 1 - Work hard and God will prosper you.
Principal 2- Financial prosperity is often connected to soul prosperity.
Principal 3- Man must do whatever he can to provide for his family.
Principal 4- Trials develop your character, preparing you for increased blessings.
Principal 5- Take responsibility for problems that are the result of your own bad decisions. Don’t displace the blame.
Principal 6- See challenges as stepping stones, not as obstacles.
Principal 7- Be meek before God but bold before men.
Principal 8- Live debt-free and below your means.
Principal 9- Always keep to your budget.
Principal 10- Loaning money destroys relationships.
Principal 11-Set aside the first 10% to honor God.
Principal 12- Understand the power of partnership.