Weekly Reflections

Import Knowledge

The focus on a local business environment allows small businesses, startup communities and entrepreneurial ecosystems to support the people they are closest to. This concentration allows available resources to be optimized, but overextending “local first” can devolve into close mindedness and groupthink if it is not accompanied by imported knowledge, global connectivity and inclusive collaboration.

Thanks to the efficiency of our connected era, increased proficiency is just a click away. Regularly inviting outside perspectives into local conversation normalizes fresh feedback and bolsters intellectual awareness. The sense of abundance paired with this shared experience adds confidence within a community. This emerging confidence can illuminate purpose and attract more of what an ecosystem needs, by leaning into what it already has. Over time, this adds cultural elasticity and opens fresh conduits for collaboration.

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Be quick to invite outsiders into the insider’s conversation.

As a local entrepreneurial ecosystem invites more outside perspectives, it also manifests itself to visitors from all over the world. This can grow the community, diversify the ecosystem, and boost the local economy.

These intellectual branches and societal bridges also give more people a chance to export knowledge as they interact beyond the local environment. This extension broadens our range of understanding and overall potential.

Can we stay committed to those we love and take pride in the place we live, while also reducing the limitations of our own location? I believe the answer is almost always yes. With a positive-sum approach to importing and exporting knowledge, we can lean on each other to all accomplish more with less.

By Ben McDougal, ago

Travel

As the world emerges from the COVID-19 pandemic, it’s been interesting to experience “normal” things for what feels like the first time. Along with hugging family members, having fun with friends and returning to in-person business events, the opportunity to travel again felt like something to riff on this week.

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It’s easier to stay in one place, but resist the urge to settle.

Traveling is the only thing you buy that makes you rich.

Life outside your comfort zone shapes a wider worldview. Different people, cultures, and economies help us understand what’s possible. This expansion of the mind molds a potent entrepreneur. Saying yes to adventure creates new layers of entrepreneurial vision and intelligence. The enhanced vision unlocks unseen opportunities, while added intelligence makes it possible to work with more types of people. Travel allows entrepreneurs to widen their understanding and therefore make a deeper impact in any market.

Stay efficient with all your virtual meetings, but say yes to that in-person meeting once in awhile. Attend that next trade show and parlay your business travel with personal adventures to remind yourself that we work to play. Here are a few travel tricks to enjoy the ride even more.

  • Consider trusted traveler programs to bypass long lines. Costs are minimal and you’ll appreciate it every time you waltz through airport security.
  • Leverage free travel reward programs.
  • Nobody will take your assigned seat, so be last to board a flight. Boarding last keeps you out of the flying tube longer. It also grants you a free pass to choose your seat if it’s clear the flight won’t be full.
  • Speaking of empty flights, airlines sometimes buy passengers from other airlines. When traveling alone, watch for overbooked situations to sell your seat back to the airline that tried to buy it at a discount. Like most negotiations, a gate agent’s first offer is never the best. Assuming you’re willing to take a future flight, see how long you can make the airline sweat without another passenger snagging the rising offer.
  • Elevation makes us all feel successful. This is why we like flying, rooftop bars, skyscrapers, and presidential suites. If you like the best view when you’re staying in a hotel, request the top floor. Upon arrival, ask the receptionist to hook you up. Some places will even allow you to tour different rooms to select your favorite. Snobby? Maybe. Will you be glad once you settle into a spot with an epic view? Absolutely.
  • Plan ahead by connecting with people who will be where you’re going or who live where you’re headed. This gives you a chance to parlay your trip with more meaningful meetings and additional activities that add value beyond the original purpose of your visit.
  • Bring a book you plan to leave behind.
  • Travel light and stay out of your room.
By Ben McDougal, ago

39

It’s my 39th birthday!

I love using birthdays to reflect on what was learned, trying something new, or appreciating memorable moments from the past year. I also like to craft recaps (e.g. 33rd birthday / 2014 recap) for my future self to read. This year, YDNTB is quite the relic to always remember this moment in my life so instead of a personal narrative highlighting the past, let’s lean into the future by exploring the idea of retirement.

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“Retirement is when you stop sacrificing today for an imaginary tomorrow.” –Naval

I always told myself I wanted to retire in my thirties. Financial advisors are quick to remind us that the golden years of middle class leisure will require around $1 million in savings, but perhaps there’s more to this story.

Yes, the traditional path to retirement is all about earning enough money to cover the burn rate of your life. A second option to realizing financial freedom is to reduce your burn rate to zero, but not many people are cut out to be a monk.

I prefer early retirement in the form of leveraging what you love to do. Similar to what I describe as Career Nirvana, peaceful satisfaction can be achieved when you do something you love so much that it’s not about the money anymore. This doesn’t mean the work stops or that the responsibilities of life fade away. It’s quite the opposite, as more opportunities tend to present themselves when you figure out what you’re best at and map that to what society wants. This forges an abundance of innovative energy you can’t buy. As you collaborate with those who feed off this energy, you soon realize that nobody can compete with being you.

As you build towards such transcendence and realize that a neon future awaits us all, I’ll close with a toast. May the best of your todays be the worst of your tomorrows. Cheers!

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Good, better, best;
Never let it rest,
‘Til your good is better,
And your better is best.

By Ben McDougal, ago

Threaded Thoughts

Let’s talk tactics. Here is a simple technique to absorb, translate, and share the (audio)books you read.

Start with one tweet, then reply to that same tweet over and over again. The result is a thread (sometimes called a tweetstorm) that combines your key takeaways and gives you a single link to share your collective thoughts.

Here are a few examples…
Tribes – Seth Godin
We Are All Weird – Seth Godin
This Is Marketing – Seth Godin
Free Prize Inside – Seth Godin (ideal for intrapreneurs)
The Icarus Deception – Seth Godin (great for students)
Startup Community Way – Brad Feld & Ian Hathaway
Think Like A Freak – Steven Levitt & Stephen Dubner
The Hard Things About Hard Things – Ben Horowitz
Angel – Jason Calacanis
Think Again – Adam Grant
Entrepreneurs’ Weekly Nietzsche – Dave Jilk & Brad Feld
The Almanack of Naval Revikant
BONUS THREAD – Big Thoughts in Little Tweets

Why is this helpful? If you’re thirsty to learn from (audio)books, it’s easy to feel overwhelmed as authors bombard you with knowledge. Passively enjoying (audio)books is fine, but this organizational exercise forces you to slow down, which reduces the numbing effect. In short, crafting concise tweets that are all connected forces you to feel the experience.

Another benefit to sharing threaded thoughts, is that each public post draws out more focused contemplation. I’ve found this technique makes me think deeper, use words carefully, and has actually made me a better writer. Such value is compounded when the entire thread can be retrieved with one link.

Lastly, this exercise generates accountability. When this exercise becomes a habit, you spend extra time with that first tweet, knowing it may become be the foundation for a neat collection of thoughts. As the thread expands, you’ll feel momentum that keeps you listening/reading. If progress stalls, the lingering sense of an incomplete project may bring you back to finish the literary journey. If you must get through something quickly, just craft a smaller thread, but include one post that lists the page numbers for areas that caught your attention. Such a hack is still better than nothing.

To be clear, this exercise is not about pirating content or echoing knowledge like a parrot that sounds smart. It’s about sharing a meaning narrative while leaning into what resonates for you, knowing you’re creating a relic for others (including your future self) to enjoy as well.

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Tag me on Twitter if you try this! I’d love to follow along and will definitely chime in if you experiment using You Don’t Need This Book.

By Ben McDougal, ago

Jargon vs. Understanding

Seth Godin is my favorite thinker, but I’ve been pondering the words of Naval Ravikant a lot lately. In this interview, Tim Ferriss and Naval riff on how Richard Feynman differentiated jargon versus true understanding.

This has me reflecting on how humans seek the ability to effectively explain our thoughts, but too often a lack of understanding leads to fancy words and long-winded rhetoric. Sounding smart may protect our perceived knowledge, but as Albert Einstein said, “If you can’t explain it simply, you don’t understand it well enough.”

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This tweetstorm first introduced me to @Naval. I’ve since listened to his podcast, read the Almanack of Naval Ravikant and enjoyed this Joe Rogan interview where Naval says, “We have two lives, and the second begins when you realize we only have one.”

As I translate this collective wisdom, I’ve organized a few simple constructs to practice this mental mindset.

  • Be more succinct with my words.
  • Ask an increased amount of concise questions.
  • Get comfortable with uncomfortable silence.
  • Inspiration is perishable. Act on it immediately.

    When trying to balance this cerebral equation, here’s are two questions to ask: Can we deconstruct, expand, or compress what was just said? Can we then describe the exact same idea five different ways? If not, seek further insight to go beyond memorized jargon for true understanding leads to more confident, diverse, and transformative conversations.

    By Ben McDougal, ago