Ideas + Capital + Talent = enduring great business.

Ideas are everywhere, nothing special about an idea.

Capital is plentiful for those who have proven themselves. Today there is so much capital sloshing around looking for moderate returns.

The Scarce Resource…

Talent, true talent… is rare.

Talent isn’t potential. Talent is systematic repeated high performance over years or decades. This is extremely rare.

Potential talent looking for capital will not find it. Capital doesn’t invest in testing talent… capital invests in proven talent.

How do you become “proven talent”?

That is the question.

You cannot win the marathon by sprinting.

The winner of the 100m in the Olympics might also win the 200m, but will never be competitive in the 10K… or marathon …or rowing, or judo…

Gold medal athletes focus on their strengths and work to amplify their strengths. Usain Bolt doesn’t spend training time trying to improve his long distance capacity. He works on his start, on acceleration, on sprinting and finishing. He works on his strengths.

Recently I’ve felt a lot of pressure to spend time on areas that for me are weaknesses. I am writing this blog post mainly as a reminder to myself to stay strong, and accept these weaknesses. As a leader, I am responsable for making sure there are people and systems around me so that our business doesn’t have weaknesses… but it is not me that should spend time in areas where I am weak.

Dan Sullivan on working on your strengths

If you work throughout your life on improving your weaknesses, what you get are a lot of really strong weaknesses.

Dan Sullivan

In order to do well in school, you need to get good grades in all the subjects. If you are good at sports when you are 12 or 15, you are probably the best at most of the sports you try.

I did well in school. It became painful for me to not get good grades… in any subject… even the ones that I really didn’t care about.

In business (and professional sports), you do well by being really good in one subject. In order to be excellent, you need to deliberately choose to be bad in almost everything else.

I am good at some things, I am not good at lots of things. A lot of the people around me are great at letting me know what I’m not doing so well… I have to stay mindful in order to not get drawn into trying to spend effort improving my weaknesses.

Stephen King says “I was lucky. I was born only good at one thing. Imagine how hard it is for people who are good at 2 things… or what is truly difficult… being good at most things.” (I paraphrase as I can’t currently find the original quote)

Are you working on your strengths?

If you liked this post, you will also like Managing Oneself and Meaningful Contribution.

On returning from the summer holidays, iPhone Screen Time showed that I had used my phone for over 4 hours a day.

I hated this idea. That 4 full hours each day in some way were glued to a small screen. There is plenty of facetime calls and zoom calls… but a large portion has become the mindless scrolling down through instagram in particular.

I immediately deleted instagram, facebook and twitter from my phone. I left some of the other apps that were getting a lot of use: WhatsApp, Chrome, Linkedin, Chess.com, YouTube.

It has been a week without Instagram, facebook and twitter. I have not noticed missing anything. I got a couple of emails from instagram saying “you have 3 new messages” – but I can still see instagram when I am at my laptop so it is not that I have left completely.

This week’s iphone usage…

Screen time this week is down 27% from last week (and down over 45% from my peak distraction week!)

It is still pretty high.

…and it is such a powerful distraction.

I pick up my phone to do 1 thing – make a call, send a message… and then spend 10-20 minutes doing a cycle through a couple of apps… I am addicted to deliberate distraction.

I tell myself that I have discipline. I have spent a lot of the last decade working on using time intentionally and effectively… and I am not able to cope with an iphone.

I worry for humanity.

If this distraction were making us kinder, better, more informed, more worldly-wise then this would be a gift. These distractions are not making me kinder… if anything more impatient and rude to those around me.

I have decided that I have a problem. I am addicted. I do not have intentional control over my usage of this device.

It has so many useful features that make my life better – the camera and video in my pocket, google maps is brilliant, facetime with family has been wonderful during Covid times, whatsapp allows coordination of groups and meetings… I will not be getting rid of the iphone.

I will be honest with myself and say that I am not in conscious control of my usage and I need to set limits for myself.

I don’t like admitting it, but I guess this is an addiction.

I don’t like the idea of being controlled by a little device.

…but I am not capable of using it… it uses me.

It has been a busy summer of high performance – in particular the Tokyo Olympics. There were 2 interviews with athletes that really struck me for the perspectives they were taking towards their performance and results. The video below shares these two healthy mental approaches to life.

Pressure vs Stress

The first interview was with US swimmer Caleb Dressel. The journalist asked how he coped with the pressure. His answer “Pressure… there is nothing wrong with pressure… there is something wrong with stress” (just after winning gold in 100m freestyle.)

Performance vs Results

The second interview was with GB rower Helen Glover. She had retired… and then came out of retirement to train for the Tokyo Olympics. She and her partner had just finished 4th in the final. The journalist said “you must be so disappointed to finish 4th… so close… but no medal. Helen’s answer “this was our best performance. I am extremely happy with our performance today. We were close to a personal best.” Her performance is under her control… the results of the race depend on other factors.

These two interviews reminded me that I have been distracted recently and paying more attention to (and worrying more about) results, not focussing on my own daily contribution.

Pressure is a good thing, it helps us grow. Stress is not.

This is a list from Vered Kogan, Vistage Chair.

Lots of our coaching work in Vistage involves helping leaders identify limitations in their beliefs that restrict their opportunities for personal and professional growth.

What Are Limiting Beliefs?

A limiting belief is an opinion about the world that stops you seeing some potential paths or resources that could help you achieve something that is important to you.

A limiting belief is something you have learnt in the past… it may have been helpful in the past… but today it is limiting your capacity for positive action.

Here’s a list of Limiting Beliefs

  • I’m not good enough  
  • I’m not making enough progress
  • I don’t know where to start  
  • I can’t do it…I’ll never change
  • I can’t depend on most people  
  • I won’t have time to do things I enjoy
  • I don’t have the right skill sets  
  • I’m just not lucky
  • I’m not smart/experienced enough  
  • I’m too old/young
  • I shouldn’t want more in my life  
  • There’s never enough time
  • There’s a right way to do things  
  • What would people think?
  • I’m too scared  
  • It’s too hard. I’m overwhelmed.
  • I don’t have enough resources  
  • What if I change my mind?
  • I might do it wrong  
  • I don’t have a choice
  • I’m a fraud  
  • I’m not very creative
  • I’m not very sociable/outgoing  
  • There’s nothing I can do about…
  • What if they reject/don’t like me?  
  • It’s someone else’s fault

How to Weaken a Limiting Belief

  1. Identify a limiting belief
  2. Ask yourself, “What negative or unwanted consequences have I already experienced as a result of this limiting belief”?
  3. Ask yourself, “What positive outcomes and transformations might I be able to experience if I’m willing to let go of this limiting belief”?
  4. Weaken the Limiting Belief
  5. Cross Out the Limiting Belief
  6. Replace it with a NEW Belief
  7. Strengthen the NEW Belief

Learn more about overcoming Limiting Beliefs from Vered Kogan:

I recently heard Sadhguru share 3 ways that people approach life and work:

  1. Idiot – these people don’t enjoy what they do each day
  2. Smart – these people have created a life where they do enjoy the activity and the people that they spend time with each day
  3. Genius – these people have learnt to love what they have to do. They know how to connect all important activity to their personal purpose and make it feel meaningful.

A couple of comments on youtube suggested that this was an “arrogant statement” and that not everybody has had access to education and opportunities. I don’t believe any of these 3 approaches are necessarily only accessed through formal education… in fact I see many well educated people from wealthy backgrounds who really struggle to get out of the “idiot” category.

Another comment on youtube suggested that we each operate at these 3 levels in different areas of our lives… it may be that you are a genius in health and exercise, but an idiot when it comes to personal finances… or a genius in your professional career and an idiot as a family member.

The route to genius involves having clarity on your purpose and a set of practices or rituals to connect necessary action to that sense of meaningful purpose.

What do you think? Where do you operate most of the time?

Whats the most important human capability for the next thirty years?

The Ability to Pay Attention

To hold your attention on what you decide is important. to stay focused as it becomes boring… and to stick with something through boredom to the insights that only emerge on the other side of boredom.

Today I am waiting to receive my first dose of the Covid vaccine. The Barcelona conference center has been turned into an industrial scale vaccine delivery system. It’s well organized and I am impressed.

Line for vaccines. A thousand people. Nine hundred face down to their screens. Fifty reading a book. Fifty looking around and seeing where they are, what’s happening and who else is here.

50 years ago information was scarce. That made it give power to those that had access.

Today information is so abundant that it gives little power. It is so abundant that it has created another scarcity: The scarcity of attention.

I am reading a book gifted to me yesterday by a good friend. “Stand out of our light: Freedom and resistance in the attention economy.” The book is a thoughtful reflection on how mobile phones are impacting our lives… sometimes for the better, sometimes for the worse… but often with us being unaware of the price we are paying with our attention.

What is the true cost of an hour scrolling on Instagram or Facebook? The life I could have lived, the deep conversation I could have had, the goals you didn’t pursue, all the actions you didn’t take… all the possible yous you could have been… had you attended to those things.

“Attention is paid in possible futures forgone” James Williams.

What matters most in the gym? The hours you spend or the reps on the weights?

In the areas where you must be highly competent to succeed in your role: are you accumulating hours or reps?

Do you just do your job or do you spend time practicing the important skills that make you effective?

By practice, I mean “deliberate practice” – setting an intent, taking action, getting feedback, reflecting on original intent vs actual result, seeking new approaches… and repeat the cycle.

Thinking about writing is not writing. Publishing an article and listening to reader feedback is how to do reps.

Thinking about exercise is not exercise. Lifting the weights, pushing through discomfort, sweating… is exercise.

Thinking about difficult conversations is not having difficult conversations. Having challenging conversations (for you and for the other) and seeking productive conflict is how to do reps.

Thinking generates hours, but does not generate reps.

Be careful of equating hours (or years of experience) as competence.

I first met Dandapani at an Entrepreneurs Organisation event in Istanbul in 2012, I have since met him in Boston and then helped bring him to Barcelona to spend a day with our Entrepreneurs’ Organisation chapter.

Dandapani teaches some simple but highly important lessons about awareness and our mind, and how to be intentional about your life… and in particular your energy.

Video summary from Eugene Wong on LinkedIn

Wisdom from Dandapani

  1. Winning and social approval is not the motivation of the gold medal athlete. They do it to learn more about themselves. Winning or losing is not so important, it is about knowing who you are. Failure is like an enhanced moment to learn who you truly are.
  2. Your life now is a manifestation of where you direct your energy or a sum total of where you have been investing your energy.
  3. There’s people in your life that boost your energy. There are those who are energy neutral. Be kind and detached from your energy vampires. Give the work back to them.

How to Improve your Concentration

Dandapani tells us that there are 3 steps to practice that improve our concentration:

  1. Finish that which you begin
  2. Finish it well, beyond your expectations
  3. Do a little more than you think that you are able to do

Use these 3 steps in every area of your life: from making the bed in the morning, to tidying the kitchen, to reading to your child, to writing emails, to writing blog posts…

Further Resources on Dandapani’s lessons

Check out my previous videos and blog posts that were inspired by Dandapani:

I’ve been reviewing my purpose statement. I rewrote it earlier this year. The year of Covid shook up my routines and threw me out of balance. It took some discipline with mentors, coaches and my journal to get re-connected to why I get up in the morning.

My purpose is “to inspire and challenge others to do the most important work of their lives”.

This video is a reflection on the context necessary for someone to do the most important work of their lives.

The 4 Ingredients necessary to do the most important work of your life:

  1. Work on Important Problems
  2. Surround yourself with Great People
  3. Learn to Communicate effectively
  4. Play the Infinite game

If you enjoyed this post, you will also enjoy 22 Excuses that I use to not Do Important Work and Plant Acorns. Grow Oaks.