Dr. Gio Valiante, performance psychologist, discusses failure and success. They talk about shifting from ego to mastery orientation, common misperceptions of success and failure, learning to cut losses, and importance of humor and mindset in overcoming failure. They also explore recognizing opportunities, defining success, and finding joy in life.
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Quick takeaways
Success starts with a love for the work itself before seeking external rewards.
Failure is necessary for skill development and requires a mastery orientation and curiosity.
Knowing when to press one's advantage and when to fold is critical for success, requiring evaluation and understanding of oneself.
Deep dives
The Importance of Loving Your Craft
In this podcast episode, the speaker emphasizes that success starts with a love for what you do. While praise and recognition can be motivating, they should come after a genuine passion for one's craft. The order, the speaker suggests, is to prioritize the love of the work itself and then enjoy the external rewards that come with it.
Failure as an Essential Part of Success
Failure is not the opposite of success but rather intertwined with it. The speaker explains that failure is necessary for skill development and the right mindset to achieve long-term success. Drawing examples from sports and other domains, the speaker highlights the importance of curiosity and resilience in reacting to failure.
The Shift from Ego Orientation to Mastery Orientation
The speaker discusses the concept of achievement goals, which explore the reasons behind why people do what they do. Two orientations arise: ego orientation and mastery orientation. Ego-oriented individuals focus on impressing others and proving themselves, while mastery-oriented individuals are driven by curiosity and intrinsically motivated by the love of the craft. The speaker emphasizes the benefits of adopting a mastery orientation and reacting to failure with curiosity and humor rather than embarrassment or anger.
Knowing When to Press and When to Fold
Understanding when to press one's advantage and when to fold is a critical skill for success. The speaker explains that this decision requires evaluating the circumstances, assessing one's emotional reactions, and determining whether impatience or frustration is driving the desire to push. It also involves developing complexity of thought, knowing oneself, and understanding the risks and losses one is willing to tolerate.
Learning from Success
While failure is often seen as the primary source of learning, success also provides valuable insights. The speaker highlights the importance of defining success and differentiates between persistence and knowing when to quit. Success entails knowing when to walk away from a bad bet, understanding when to make things happen, and when to let things happen. Additionally, the speaker emphasizes the need for humility, an ability to trust one's own vision, and the value of active engagement and the present moment in achieving success.
In the second of a special two-part episode, performance psychologist Dr. Gio Valiante calls on his vast experience working with some of the world’s top athletes and entrepreneurs. Shane and Dr. Valiante discuss thoughts on failure and the fear that holds you back from making the most of your talent, shifting from an ego orientation to a mastery orientation, common misperceptions about success and failure, and how we learn when it’s time to cut our losses and move on to a different challenge.
Valiante is regarded as one of the most successful performance coaches in the world. He’s worked extensively with golfers on the PGA and LPGA Tours, Olympic athletes, and leading figures in NCAA football and the NFL, where he served as the Head Performance Coach of the Buffalo Bills. He has also logged over 5,000 hours coaching some of the most sophisticated investors in the world, including hedge fund manager Steve Cohen.
Listen to the first part of this special episode on the Farnam Street blog or wherever you listen to The Knowledge Project.
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