Quotes
“I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do." -Charlie Munger
“Swim upstream. Go the other way. Ignore the conventional wisdom. If everybody else is doing it one way, there's a good chance you can find your niche by going in exactly the opposite direction.”- Charlie Munger
“Stop asking blind people to proofread your vision” - Anonymous
"There is no traffic on the extra mile" - Anonymous
"Reading can teach you the best of what others already know. Reflection can teach you the best of what only you can know." - James Clear
“Don’t limit yourself. Don’t give anyone that kind of control over you. Do You. Be Yourself.”- Teronie J. Donaldson ( yep that’s me 😉)
Articles
Sam Walton’s 10 Rules For Success – from Sam Walton: Made in America
The basics …
Rule #1
Commit to your business. Believe in it more than anything else. If you love your work, you’ll be out there every day trying to do the best you can, and pretty soon everybody around will catch the passion from you – like a fever.
Rule #2
Share your profits with all your associates, and treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations.
Rule #3
Motivate your partners. Money and ownership aren’t enough. Set high goals, encourage competition and then keep score. Make bets with outrageous payoffs.
Rule #4
Communicate everything you possibly can to your partners. The more they know, the more they’ll understand. The more they understand, the more they’ll care. Once they care, there’s no stopping them. Information is power, and the gain you get from empowering your associates more than offsets the risk of informing your competitors.
Rule #5
Appreciate everything your associates do for the business. Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free and worth a fortune.
Rule #6
Celebrate your success and find humour in your failures. Don’t take yourself so seriously. Loosen up and everyone around you will loosen up. Have fun and always show enthusiasm. When all else fails put on a costume and sing a silly song.
Rule #7
Listen to everyone in your company, and figure out ways to get them talking. The folks on the front line – the ones who actually talk to customers – are the only ones who really know what’s going on out there. You’d better find out what they know.
Rule #8
Exceed your customer’s expectations. If you do they’ll come back over and over. Give them what they want – and a little more. Let them know you appreciate them. Make good on all your mistakes, and don’t make excuses – apologize. Stand behind everything you do. ‘Satisfaction guaranteed’ will make all the difference.
Rule #9
Control your expenses better than your competition. This is where you can always find the competitive advantage. You can make a lot of mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient.
Rule #10
Swim upstream. Go the other way. Ignore the conventional wisdom. If everybody is doing it one way, there’s a good chance you can find your niche by going exactly in the opposite direction.
Notes/Thoughts/Observations
1- If you are worrying about what others think/say about you - in that moment you are saying “what they think or say—is more important than what you think or say about yourself”
2- "The fastest way to improve is to learn from others.
Read good books
Talk to people who have done it
Soak up the lessons of the past
Learn from the experiments history has already run and you can start the race halfway finished."
Watched
Tom Bilyeau interview with Vusi Thembekwayo
4. Tim Ferris Top 10 Rules
Book of the Week
American billionaire co-founder Ken Langone writes his memoir I Love Capitalism! He tells the story of how he reached the American Dream. He came from a hungry kid to a corporate giant whose net worth is beyond his wildest dreams. Ken Langone is a former director of the New York Stock Exchange and the co-founder of Home Depot. In I Love Capitalism!, Langone says that capitalism and free enterprise is the key to giving everyone a leg up.
Lessons learned
Be innovative,
Always go for the good deal
Work on your sales skills
Capitalism is not perfect but it is the best system we have. “A rising tide lifts all boats”
Music
90’s essential hip hop playlist