Jul

3

Hidden flaws in strategy (part un)

Filed Under business, entrepreneurship, product management, self improvement, strategy, things to remind myself, winds of change | Leave a Comment

The McKinsey Quarterly has an interesting piece titled “Hidden Flaws in Strategy”, authored by Charles Roxburgh. What I like about this article is that it forces one to think about your blind spot, and provide solutions on how to overcome your own bias. A blind spot is well, very self-explanatory, which is why I think that’s just all the more reason why people, especially those who do any kind of strategy, should read this well put together article.

I’ll sum up some of the key takeaways to me, but reading the original piece of McKinsey is highly recommended.

Here are the common strategy flaws.

Flaw 1: Overconfidence

Our brains are naturally wired to make us overconfidence. This can be a good thing, because otherwise no one in their right mind would want to launch a new startup. However, we hurt ourselves when we try to make accurate estimates. Given a test question like “How heavy is a fully laden 747?” where participants are asked to give an answer where they were 90% confident, most people would rather be precisely wrong than be vaguely right.

Lesson learned: Be skeptical of strategies premised on certainty, and (duh) give yourself some wiggle room.

Flaw 2: Mental Accounting

Richard Thaler, a theorist in behavioural finance named the concept of mental accounting, defined as “the inclination to categorize and treat money differently depending on where it comes from, where it is kept, and how it is spent.” Some examples of mental accounting in the boardroom:

  • imposing caps on core business while throwing money at a startup
  • writing off money spent with conveniently created categories such as “revenue-investment spend” or “strategic investment”

Lesson learned: Don’t be so quick to throw away “so what if we throw it away” money. Eval potential investment through the standard scrutiny process, regardless of how the money fell into your lap.

Flaw 3: Status quo bias

An experiment conducted by Samuelson and Zeckhauser discovered that when students were asked how they would invest a hypothetical inheritance of millions of dollars, they adopted a “let’s leave things where they are” approach. That is, if the inheritance was already in high-risk high-yield stocks, it would be left as is. If the inheritence was already in low-risk low-return bonds, it would also be left as is. They opted not to rebalance the allocation in this hypothetical portfolio, even if it wasn’t in accordance to their risk preference.

The explanation is that people are more concerned about the fear of loss more than they are excited by the prospect of getting more. That’s the status quo. That’s what makes entrepreneurs special–they are not the status quo.

The other explanation is the endowment bias. Thaler discovered in an experiment with Cornell students that they wouldn’t pay more than $2.75 for mug with a Cornell imprint, but if they were given one, they wouldn’t sell the same mug away for less than $5.25–did the free market suddenly decide that the same mug has more value when it was already in someone’s possession when the same mug (a brand new one available for purchase) would be worth less? I think not.

While conservatism can be a strategic asset, it is important to distinguish between a status-quo option that is genuinely the right thing to do vs. one that just “feels safe” because of our innate bias.
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Jun

29

For-profit corps can change the world

Filed Under changing the world, entrepreneurship, regular reads, things to ponder about, things to remind myself | Leave a Comment

A common trait among forward-thinking Generation Y “millennials” are that they don’t just want to make money (who doesn’t?), but to also do good by giving back some how, by changing the world for the better, by actually making difference. For this group of young adults, they may have struggled with the question of “to work for a non-profit or for-profit?”

The lines between the for-profit and non-profit jobs are blurring, which means that the actual experience gained, and the job compensation, whichever your choice, is roughly the same. Thus, this question can be effectively boiled down to, “which path feels better?”, or “which as a larger touchy-feely” factor?

In light of all the large corporation scandals (wow, Wikipedia has a list here), it’s no wonder that the winner to the touchy-feely question is undoubtly, the non-profits. However, I do think, nay, believe that if executed properly, for-profits can make a larger and more lasting impact on the world.

This is exactly what Bill Gates has done, all “Microsoft is evil”  puns aside. From Anil’s blog:

Bill Gates has pulled off one of the greatest hacks in technology and business history, by turning Microsoft’s success into a force for social responsibility. Imagine imposing a tax on every corporation in the developed world, collecting $100 per white-collar worker per year, and then directing one third of the proceeds to curing AIDS and malaria. That, effectively, is what Bill Gates has done.

Now that, is powerful. Microsoft might as well be a sovereign multi-national government. I think this is a feat tough to pull by a non-profit–simply because it might involve some questionable tactics in business.

I’ve blogged here about a book by C. K. Prahalad, titled “Fortune at the Bottom of the Pyramid“, which essentially concludes with proof that making profit is not mutually exclusive from helping the poor. Prahalad is a distinguished professor of strategy at the Univ. of Michigan.

Jun

1

Pains that heal and those that don’t.

Filed Under failure, fear, things to remind myself | Leave a Comment

In life, some problems can be solved by throwing money at the problem (e.g. growing pains in scaling up (or down) operations in your fledgling tech startup? invest in cloud computing). However, there are certainly some problems that cannot be solved even with deep pockets (e.g. Microsoft can’t for all its might and power build a Google-killer).

I’m reminded of this money-can-help vs. no-money-can-help problem in this series of Paulo Coelho’s Reflections of the Warrior of the Light. Some sufferings can heal. Some cannot. Pick wisely what you wish to suffer.

A warrior of the light never acts in a cowardly fashion.

Fight may be an excellent art of defense, but it cannot be used when fear is great. When in doubt, the warrior prefers to risk defeat and then cure his wounds - because he knows that if he runs away, he is giving his aggressor more power than he deserves.

He can cure physical suffering, but will be persecuted forever for any spiritual weakness.

Faced with difficult and painful moments, the warrior faces unfavorable circumstances with heroism, resignation and courage.

May

26

Incremental improvements .. meh

Filed Under entrepreneurship, innovation, product management, startup, things to remind myself | Leave a Comment

As far as innovation goes, I prefer major disruptive innovations over incremental improvements (not to say the latter does not have it place, it does). As a keen observer of human behavior, I’m interested in understanding in general why people do they things they do, with a focus on human interaction with technology–such as factors that affect the adoption rates of new technology.

I long discovered (the painful way) during my time as an academic in computer science that just because one builds something super well, that by no means guarantee that “they will come”. In fact, my favourite quote then became, “So what if it doesn’t do anything? It was made with our new Triple Shielded Core Blowfish Encrypted Reduced Internal Resistance 26 Level On-Die Cache 512 1024bit Registers Supercharged Iso Bifurcated Krypton Gate Metal Oxide Semiconductor process …” (souped up version from something similar I read from a UNIX fortune cookie, but I digress).

Thus, I found this blog post by Andrew McAfee, a HBS faculty to be quite interesting. I’m going to summarize the key takeaways, although I highly recommend you read the original post.

Changing the status quo is extremely difficult and often leaders get “carried out on their shields” (from an awesome and inspiring Carly Fiorina talk about change and leadership at Stanford, that I’ve quoted her before here). Let’s examine one of the traits of the status quo:

We are loss averse. A $50 loss looms larger than a $50 gain. Loss aversion is virtually universal across people and contexts, and is not much affected by how much wealth one already has. Ample research has demonstrated that people find that a prospective loss of $x is about two to three times as painful as a prospective gain of $x is pleasurable.

A bird in hand is worth two in the bush. Makes sense, it takes a non-status quo person with a vision or be hungry enough to be prepared to lose $50 for the upshot of potentially gaining another $50. The willingness to feel fear and keep going forward distinguishes the living from the merely breathing :)

.. behavioral economist Richard Thaler has called the “endowment effect:” We value items in our possession more than prospective items that could be in our possession, especially if the prospective item is a proposed substitute.

If you’re introducing a mere replacement of an equal product, it’d better be .. uhh, just realize that you’re fighting an uphill against change. Make sure you have incentives for people to change.

As if all this weren’t enough, Gourville also highlights that the people developing new products are very dissimilar from the products’ prospective consumers. You don’t go work for TiVo (to use his example) if you don’t ‘get’ the potential of digital video recorders and think they’re a really good idea. And after working for the company for a while, having TiVo becomes part of your endowment; you think of things in comparison to TiVo, instead of in comparison to a VCR. Both of these factors make it harder for developers to see things as their target customers do.

Many techies suffer from this, falling in love with their own creation and failing to see that it could perhaps actually be fundamentally, how should I put this gently, a completely useless product. If it’s not solving a real person’s pain point that he/she is willing to pay for a solution, then monetization may be a challenge. Doesn’t matter how snappy the UI is, or the fact that you’ve just spent a month shaving off 10 CPU cycles on the algorithm that calculates the number of molecules in a can of soda, I highly doubt anyone would pay you to compute out the exact number of modules in a can of Mountain Dew just before they pop the can. I’m sure the algorithm is still very cool, though!

There are three classes of people: those who see, those who see when they are shown, those who do not see
–Leonardo da Vinci

As an innovator, train yourself to see the things that you cannot see. Ok, so that’s admittedly difficult, so at least try to see the things that other people see that you don’t see.

This last point is one of the reasons why I strongly believe that techies should actually get out there (at least occasionally) to go talk to real human beings, such as the paying customers. Be aware of your own inherent bias and need to protect your “baby” (the product), but don’t forget that you are also creating value for someone else.

The bottom line is: if you’re developing something new, you’ll have an easier time if the benefits of the product surpasses the existing solution by (at least) a factor of 10.

May

6

Cognitive Surplus

Filed Under regular reads, things to ponder about, things to remind myself, time management, winds of change | Leave a Comment

If I had to pick the critical technology for the 20th century, .. I’d say it was the sitcom. Starting with the Second World War a whole series of things happened–rising GDP per capita, rising educational attainment, rising life expectancy and, critically, a rising number of people who were working five-day work weeks. For the first time, society forced onto an enormous number of its citizens the requirement to manage something they had never had to manage before–free time.

And what did we do with that free time? Well, mostly we spent it watching TV.

We did that for decades. We watched I Love Lucy. We watched Gilligan’s Island. We watch Malcolm in the Middle. We watch Desperate Housewives. Desperate Housewives essentially functioned as a kind of cognitive heat sink, dissipating thinking that might otherwise have built up and caused society to overheat.

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May

1

Innovation lessons from Pixar

Filed Under changing the world, entrepreneurship, failure, fear, google, innovation, people i like, perseverance, things to remind myself | Leave a Comment

The McKinsey Quarterly has a really interesting piece on innovation at Pixar–the company who brought you Toy Story, Finding Nemo, and Ratatouille. Keep in mind that Pixar was purchased by the Walt Disney Company from Steve Jobs, the turn around artist and saviour of Apple (Apple Computer, who brought you the iPod), whose company in turn have Eric Schmidt (the CEO of a small little company despised by the behemoth Microsoft) on their board of directors.

Google and Apple are both well known for being innovators in their respective core markets, and suffice to say that they both share some innovation DNA from the top–and Pixar, through its relationship with Steve Jobs would probably have benefited from some of the common DNA between the two. Here are some of the highlights of this article, in which Oscar-winning director Brad Bird was asked about how he managed innovation.

The first step in achieving the impossible is believing that the impossible can be achieved. There was a point during the making of The Incredibles where we had a company meeting. We have them about twice a year, and anybody can bring up concerns. Somebody raised their hand and said, “Is The Incredibles too ambitious?” Ed Catmull said, “I don’t know” and looked over at me. I just said, “No! If there’s one studio that needs to be doing stuff that is ‘too ambitious,’ it’s this one. You guys have had nothing but success. What do you do with it? You don’t play it safe—you do something that scares you, that’s at the edge of your capabilities, where you might fail. That’s what gets you up in the morning.”

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Apr

13

What a week (or weeks ..)

Filed Under execution, failure, fear, goal setting, perseverance, quotes, things to ponder about, things to remind myself | 2 Comments

Wow, this is the longest lull in my blog since a long time. I have been sooooo busy. I know I’m always busy, but this week was my worse ever.

This past week has just been absolutely surreal for me. Been hit with so many things, in so many dimensions of my life that I’m just sitting here trying to figure out where I am right now. This week is also one where I had really high ups, and also extremely low downs. Standard deviation? Off the charts!

Seems like every time I double down and set my sights on something important, stuff just gets in the way to stop me short. Life has a funny way of messing with me like that. Everything I have ever wanted, I’ve always had to put up a fight for, and .. pay the price. Life has just never has been a walk in the park for me. This week I got slammed with so much madness, even from all the people I care about who cares for me.

Anyways. I can’t stop moving, I have to keep moving to stay alive. Keep my eye on the prize, and off all attractive distractions.

In fact, the more push back I get from seemingly random curve balls that life throws at me .. just gets me even more riled up and want to double down more on my commitment to executing my plans. All is fair in love and war. Life’s a game and I choose to play–even if given the option to observe and not participate. I know I will prevail, because I gots strategy. I recoup, plan, and execute. Bring on the problems!

A warrior of the light studies very carefully the position he wishes to conquer. However difficult his objective may be, there is always a way to overcome the obstacles. He verifies the alternative routes, sharpens his sword, and seeks to fill his heart with the perseverance necessary to face the challenge. But, as he advances, the warrior realizes there are difficulties he had not foreseen at the outset. If he waits for the ideal moment, he will never move from his position; he sees that a little madness is needed for the next step. The warrior uses a little madness. Because - in war and in love - one cannot foresee everything.

On a more positive note .. earlier this year I made a resolution to put myself out there and open myself up to the possibility of getting hurt. No pain no gains. Looks like I can mark that off my checklist now! That was fun. Fill ‘er up again!

A person can stand for the rest of his days facing one of the many doors he should go through, but he must understand that he has only truly lived up to that point. He may continue to breathe, walk, sleep and eat - but with less and less pleasure, because he is already spiritually dead and does not know it. Until one day when, as well as his spiritual death, physical death appears; at that moment God will ask: “what did you do with your life?” We must all answer this question, and woe betide those who answer: “I remained standing at the door.”

Thank you, Dr. Randy Pausch.

-If you lead your life the right way, the karma will take care of itself. The dreams will come to you.

-We can’t change the cards we’re dealt, just how we play the hand.

-Brick walls are there for a reason. They are not there to keep us out. The brick walls are there to give us a chance to show how badly we want something. The brick walls are there to stop people who don’t want it badly enough.

Apr

8

Lessons from the Warrior of the Light

Filed Under changing the world, entrepreneurship, execution, failure, fear, goal setting, passion, perseverance, quotes, regular reads, self improvement, startup, strategy, things to ponder about, things to remind myself, values | Leave a Comment

I’m definitely a fan of Paulo Coelho, the renowned Brazillian author. He has a unique way of teaching the lessons in life that he has learned through storytelling.

A few lessons from the Warrior of the Light.

Using one’s own madness

A warrior of the light studies very carefully the position he wishes to conquer.

However difficult his objective may be, there is always a way to overcome the obstacles. He verifies the alternative routes, sharpens his sword, and seeks to fill his heart with the perseverance necessary to face the challenge.

But, as he advances, the warrior realizes there are difficulties he had not foreseen at the outset.

If he waits for the ideal moment, he will never move from his position; he sees that a little madness is needed for the next step.

The warrior uses a little madness. Because - in war and in love - one cannot foresee everything.

Life is such that if you wait to gather 100% of every single detail before you can make a decision, others would have surpassed you. If you waited for the fog to clear, then what you see is what everyone else will also see. Given the perfect picture, anyone sane would make the same correct, best choice. This is exactly how *not* to beat the market.

CEOs often make decisions with incomplete data–and that takes a little madness. It’s about making decisions with the best information possible available at that time. Standing still through inaction is waiting to fail–and I’ll fail from action than inaction.

So when do you put yourself out there and wear your heart on your sleeve?
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Mar

18

The best thing I read today

Filed Under career, failure, fear, passion, perseverance, product management, quotes, self improvement, things to ponder about, things to remind myself, values | Leave a Comment

Question: Describe your job in one sentence.
Answer: The art of prospering between a rock and a hard place.

That reminds me of a quote:

There are really only two ways to approach life - as victim or as gallant fighter - and you must decide if you want to act or react, deal your own cards or play with a stacked deck. And if you don’t decide which way to play with life, it always plays with you.
– Merle Shain

Which reminds of awesome book I read titled “The Pathfinder” by Nicholas Lore–which I highly recommend. (Thanks for the recommendation, Becks!)

You can at any moment, take flight on new wings into an unprecedented life making a choice for vitality, for living fully, for LIFE spelled in capital letters. It is, however, an expensive journey. You pay by giving up the familiar, comfortable, everyday ways of living and thinking that are the wages and rewards of going with the flow of your programming.

The willingness to feel fear and keep going forward distinguishes the living from the merely breathing. In fact, it is not just the so-called negative emotions that are uncomfortable. When you choose to live fully, your palate of experiences, thoughts, emotions, and possibilities expands. This leads you onto new ground in other areas of your life as well. And, folks, all that newness swirling around just ain’t comfortable.

The question is not whether to take risks, but which ones to take. The peril of being reasonable is that you will miss all the fun. It’s not enough to cautiously edge your way towards the cliff. Learn to revel in taking risks for the sake of your soul. Every choice you make gives birth instantly to certain risks as surely as your shadow follows you.

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Mar

16

Failure quotes roundup!

Filed Under failure, fear, perseverance, quotes, things to remind myself | Leave a Comment

Time for another quotes roundup! These are things I wish to remind myself and hope to never forget:

Success is going from failure to failure without losing enthusiasm.
–Winston Churchill

Not doing more than the average is what keeps the average down.
–William M. Winans

Life is to be lived, not controlled, and humanity is won by continuing to play in face of certain defeat.
–Ralph Ellison

Freedom is not worth having if it does not connote freedom to err.
–Mohandas K. Gandhi

I cannot give you the formula for success, but I can give you the formula for failure: which is: Try to please everybody.
–Herbert B. Swope

The torment of human frustration, whatever its immediate cause, is the knowledge that the self is in prison, its vital force and “mangled mind” leaking away in lonely, wasteful self-conflict.
–Elizabeth Drew

My will shall shape the future. Whether I fail or succeed shall be no man’s doing but my own. I am the force; I can clear any obstacle before me or I can be lost in the maze. My choice; my responsibility; win or lose, only I hold the key to my destiny.
–Elaine Maxwell

The deepest human defeat suffered by human beings is constituted by the difference between what one was capable of becoming and what one has in fact become.
–Ashley Montagu

Life is a process of becoming, a combination of states we have to go through. Where people fail is that they wish to elect a state and remain in it. This is a kind of death.
–Anais Nin

Feb

25

Fear of the defeats they will meet on the path

Filed Under failure, fear, passion, people i like, perseverance, quotes, things to remind myself | Leave a Comment

Anyone who fights for their dream, suffers far more when it doesn’t work out, because they cannot fall back on the old excuse: “Oh, well, I didn’t really want it anyway.” They do want it and know that they have staked everything on it and that the path of the Personal Legend is no easier than any other path, except that their whole heart is in this journey. Then, the warrior of light must be prepared to have patience in difficult times and to know that the Universe is conspiring in his favour, even though he may not understand how.
– Paolo Coelho

Feb

24

Spending alone time, battling my vices

Filed Under execution, failure, self improvement, things to remind myself, time management | Leave a Comment

It’s just after noon on Sunday. I woke up early today (I’ve began for the past few weeks now to not sleep in on weekends) because I have a lot of things to do. Some of the things I have to do, I don’t feel like doing, but I know I have to do. However, I catch myself slacking of a bit, not fully focusing on the task that requires my to concentrate deeply (like writing this blog now!) Gahh!!! And I know this is a self-defeating behavior. Which is why I am putting this up here.

This is my blog, and when I first began writing, I wrote that among other things, I wanted this to be a place for me to collect my thoughts and help me think. Sometimes something as simple writing things down help me focus and collect my thoughts, viewing things from a different perspective better.

Writing forces me to concentrate on what I am thinking about, in one consecutive single-user thought process (no round-robin time quantas need to be assigned). The positive byproduct of this is that I focus more on the topic I am thinking about, and during the writing process, I may discover something flawed about what I had originally intended to write and correct my course before proceeding. Likewise, I may also discover something that I did not originally think about (perhaps an important subtopic to expand upon).

I’ve spent all morning, and haven’t been as productive as I have wanted to. I’m moving, but I’m just not moving frickin fast enough. I realize that distraction, my self-induced ADD, my inability to focus, my tendency for procrastination (because I don’t want to do this!), is a major impediment to my success in everything I do, and will be in anything I do, if I don’t manage this. I am battling this vice of mine, and I know I will win.

I am reminded of what Dave Lorenzo, a business coach, wrote:

We have all heard the expression, “It don’t come easy” in reference to success. This is the truth. Although success may appear to happen in an effortless fashion, someone somewhere worked very diligently behind the scenes to ensure optimal results. You must prepare your mind for the difficult tasks that lay ahead of you as you drive your way toward success. Just as a world-class athlete spends years training his body to take the punishment of intense competition, you must train your mind for the battles you will face on the road to making your goals a reality. Your mental training regime involves challenging yourself with completing increasingly difficult tasks that require you to be alone.

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Feb

22

Self-analysis and action must go together

Filed Under execution, things to remind myself | Leave a Comment

It’s so easy to stay comfortably stuck in the infinite loop of self-analysis, just waiting and waiting for the perfect moment when everything is right before we take that emotional risk or actually do something.

While introspection is good and necessary, it is doubtful that introspection alone will provide us with the answer of what we want to do. Getting out there, trying new things, and after possibly failing a few times, we’ll widen our experience which will help us hone in on what we want.

Sometimes I fall into the trap of planning all damn day, getting that false feeling that I am actually progressing. I guess I am prone to analysis-paralysis. While I’m not advocating against not planning a strategy, tweaking one’s strategy every 5 minutes is counter productive. Don’t forget execution.

 Self-analysis and action must go together. 

Feb

20

Ridiculously sick work ethic

Filed Under career, changing the world, did you know, execution, goal setting, passion, people i like, perseverance, things to remind myself, values | Leave a Comment

I’ve never really viewed myself as particularly talented. I’ve viewed myself as slightly above average in talent. And where I excel is ridiculous, sickening, work ethic. You know, while the other guy’s sleeping? I’m working. While the other guy’s eatin’? I’m working. While the other guy’s making love, I mean, I’m making love, too. But I’m working really hard at it.

You can look at the first six episodes of the Fresh Prince and I was so hell bent on not failing that I memorized the entire script. And you can see in certain shots they try to cut around it as much as they can, but I am mouthing the other actor’s lines.

Nuff said, this guy is my hero and role model.

More from CBS.

Feb

17

At which mile do most people quit in a marathon?

Filed Under execution, failure, goal setting, perseverance, things to remind myself | 2 Comments

In a 26-mile marathon (or 41.8 km), at which mile do most people (statistically) quit? Probably at the mile where life is the most difficult, right? Let’s say, about the last few miles in the marathon?

Most runners don’t quit during the 26th mile because they have a vision of where they are going. They see the end in sight so they keep striving for it. Sure they are physically exhausted but their vision fuels them and tells them to keep going to reach their destination.

Most runners quit a marathon at the 20th mile because this is when they lose sight of their vision. This is when they are both physically exhausted and mentally drained. This is when runners feel they have come so far and yet still have so far to go. This is when their goal fades away and their mental power dissipates. Where there is no vision the people perish.

Aaah, the power of mind over body.

After all, there will be days when our bodies say no and we need our mind to say yes. There will be times when it seems that everything in life conspires to sabotage our goals and dreams. And there will be weeks or even months when we feel like we are hitting the 20th mile. The answer is to maintain your vision and focus on it. Keep your vision alive and it will keep you alive. Don’t give up. Keep striving towards the vision planted in your mind and heart

“90% of the game is half mental.” -Yogi Berra

Original post.

Feb

9

Randy Komisar

Filed Under business, career, changing the world, innovation, mentoring, passion, people i like, quotes, self improvement, stanford, startup, things to ponder about, things to remind myself, values | Leave a Comment

Randy Komisar, when asked in an interview about how he would ever make his mark at VC firm like Kleiner Perkins Caufield & Byers when they have a track record of investment home runs like Google says,

It’s a high bar, there’s no question about it. But I don’t feel competitive against that. I mean I think that the goal for me is to help create great talent in great companies, and what I’m hoping that in the process, they create wealth and opportunities for others. That being said, trying to measure up against something like Google as an investment return, that would just make you anxious. I don’t feel very competitive with that. I just hope that I continue to do good work and contribute.

I think that’s great advice. It’s so easy to fall into the trap of benchmarking yourself against a rare one time astronomical success. It only makes you more anxious and cloud your judgement in decision making, spinning you into an uncontrolled perpetual fall downwards. The negative energy just feeds back into the system and snowballs.

I think I have fell into that trap of focusing on the wrong thing. I think the reason why I fell for that is because I am very competitive. It’s only natural that when I see someone doing better than me, that I only want to do even better–to win. I’m not a life-is-a-zero-sum game guy, but I am competitive.

I think the other reason is because sometimes I care too much about what other people think of me. And it is so easy for external parties to view you from the outside and say, “Why can’t he accomplish this feat? Someone else has already done it, and therefore it’s possible. If he can’t do it, then he must be a loser”. It’s easy to benchmark others against the best. Not so funny when others benchmark you the same way.

That’s exactly what happened in that interview. The interviewer asked Randy a question that same line of external judgement: “how do you think you are going to beat the record?” In my opinion, Randy’s answer was perfect, “Look, I know it’s difficult, but I don’t ask myself that every time I go to work, or in every investment decision I mae. I focus on what’s important really here: contributing, creating wealth and opportunities to the best I can” I think I would have bombed that test. I would have said something that displays my naivete like, “oh, that’s nothing–I’ll beat it.” Sounds Dilbert-ish.

Towards the end of the interview, Randy was asked what his recommendation was for people who starting out and looking for a profession. The interviewer asked if he would recommend his own career trajectory he took, for instance. Randy says,

You should question authority, question convention, question other people’s expectations. We live in a day and time when all things are possible for people who have the raw intelligence, energy, and dedication to reinvent things. And that includes reinventing themselves. The shame of it is when smart people conform to conventional expectations and miss out on the opportunities to live a creative life. Within that confine, almost anything can be a great profession and can be a good and purposeful life’s work. But first and foremost, it’s gotta be important to you.

Randy Komisar one of the mentors at the Stanford Technology Ventures Program.

Feb

4

Dominant Logic

Filed Under business, changing the world, did you know, poverty, startup, things to remind myself, wokai | Leave a Comment

C.K. Prahalad writes on the powers of Dominant Logic,

All of us are prisoners of our own socialization. The lenses through which we perceive the world are colored by our own ideology, experiences, and established management practices. Each one of the groups that is focused on poverty alleviation–the World Bank, rich countries providing aid, charitable organizations, national governments, and the private sector–is conditioned by its own dominant logic.

Makes sense to me. We’ve all had different paths, and each of our paths has shaped our thinking in different ways. This reminds me of something Paul Buchheit said some time ago about the limitation of our own thinking.

In his presentation at Startup School 2007, Paul reminded us that when someone tells you, “That’s impossible” it should be translated as “According to my very limed experience and narrow understanding of reality, that’s very unlikely.” Everyone continuously builds a different set of experiences in their respective lives, and therefore everyone’s understanding of reality is fundamentally different.

I covered that here. Back to the story on why for-profits are generally viewed and treated negatively in their genuine endeavors to do good (and inhibiting them from achieving real success). Prahalad continues,

The policies of the [Indian] government for the first 45 years since independence from Great Britain in 1947 were based on a set of basic assumptions. Independent India started with a deep suspicion of the private sector. The country’s interaction with the East India Company and colonialism played a major part in creating this mindset.

The dominant logic, built over 45 years, is difficult to give up for individuals, political parties, and sections of the bureaucracy. This is the reason why politicians and bureaucrats appear to be vacillating in their positions. Most thinking people know where they have to go, but letting go of their beliefs and abandoning their “zones of comfort” and familiarity are not easy

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Feb

3

Steve Jurvetson: Failure is the magic sauce

Filed Under business, changing the world, failure, fear, innovation, people i like, perseverance, quotes, things to remind myself | Leave a Comment

Failure is the magic sauce in entrepreneurship, it’s the magic sauce in innovation.

In the venture business, we look at thousands of business plans every month. The majority of them will fail, the majority of them will go out of business, but its the few that succeed that really change the world.

And you have to be prepared for that, as an entrepreneur, that on average, you’re going to fail. And not to take that too deeply, to realize that that’s okay, and luckily at least in America, there’s a culture that welcomes that; that says its okay to fail, especially in an entrepreneurial endeavor.

Embracing failure and failing early enough are positive aspirational goals. As venture capitalists, we often argue that we should often fail early enough to learn about new industries and learn to do what we do.

From an interview with Steve Jurvetson

Feb

3

A focus on human potential

Filed Under execution, goal setting, perseverance, quotes, things to remind myself | Leave a Comment

The human potential doesn’t really hit its highest mark unless it becomes just excruciatingly focused.
– Geoffrey Moore, Silicon Valley high tech consultant and author of Crossing the Chasm

Jan

9

What a man can be, he must be

Filed Under passion, quotes, things to remind myself | Leave a Comment

What a man can be, he must be
– A.H. Maslow, A Theory of Human Motivation, Psychological Review 50 (1943):370-96.

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