#41: Diary of a CEO - 33 Laws of Business and Life
Oct 31, 2023
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Vinh and Ali discuss '33 Laws of Business and Life' by Steven Bartlett, including the importance of building knowledge, skill, and network in the right order for success. They explore the power of positive self-stories, the role of absurdity in business, and the importance of embracing failure and taking risks. They also touch on the impact of pressure, the value of journaling, and neglecting small things over time.
Prioritizing knowledge and skills is essential for personal and professional growth over focusing solely on resources and reputation.
Teaching others enhances mastery by developing the skill of distillation, simplifying complex concepts, and better understanding and retention.
Creating positive self-stories and surrounding oneself with positive influences lead to a brighter and more fulfilling future.
Embracing absurdity, infusing values and personality in endeavors, can help differentiate and create memorable experiences.
Recognizing healthy pressure and using it for growth, embracing failure, and sharing the burden with others helps alleviate stress and achieve peak performance.
Deep dives
Law 1: Fill Your Five Buckets in the Right Order
Law 1 emphasizes the importance of filling your five buckets in the correct order: knowledge, skills, network, resources, and reputation. Prioritizing resources and reputation without focusing on knowledge and skills can hinder personal and professional growth.
Law 2: Mastery Requires Teaching
According to Law 2, teaching is a crucial step in the mastery process. By teaching others, one develops the skill of distillation, simplifying complex concepts and enhancing mastery. Learning, distilling, and sharing knowledge leads to better understanding and retention.
Law 7: Never Compromise Your Self-Story
Law 7 underscores the importance of not compromising one's self-story. Negative self-stories can perpetuate negative thoughts, feelings, and actions. By creating positive self-stories and gathering evidence through actions and inspiration, a brighter and more fulfilling self-story can be forged.
The Power of Positive Self-Stories
The podcast highlights the significance of positive self-stories, which shape thoughts, feelings, actions, and ultimately one's future. Building positive self-stories involves creating new evidence, amplifying positive inspiration, and surrounding oneself with people who reinforce positive narratives.
Importance of Self-Story for Mental Toughness
Research shows that 40% of mental toughness comes from our self-story. By creating a bank of evidence that we are resilient, we can better navigate tough times with ease.
Surrounding Yourself with Champions
Having a few people who believe in us can increase our self-belief and foster resilience. Surrounding ourselves with positive influences helps nourish our self-story and helps us overcome challenges.
Embrace Absurdity to Stand Out
In a world where being relevant and ordinary is unprofitable, embracing absurdity can help differentiate us. Infusing our values and personality into our endeavors can attract attention and create memorable experiences.
Make Pressure Your Privilege
Finding the right balance of pressure can be beneficial for growth. Recognizing the difference between distress and eustress can help us identify healthy pressure that leads to personal and professional development.
The Power of Embracing Stress and Pressure
Stress and pressure can be catalysts for creativity and growth. The speaker, an artist and teacher, shares how the moments of highest pressure often lead to the creation of unique and refined material. They highlight the importance of challenging oneself and stepping out of comfort zones to achieve the greatest results. Embracing failure is also discussed as a vital part of the iterative process. The speaker encourages reframing stress and viewing it as a signal that the body is getting ready for peak performance. They emphasize the need to use pressure and take action while also sharing the burden with others to alleviate stress.
Failure as Feedback and Path to Power
The podcast explores the idea that failure is not inherently negative but rather a valuable source of feedback. The speaker shares the concept that failure leads to knowledge, which in turn leads to power. They stress that failure teaches more than success because it prompts a reevaluation of strategies and behaviors. The importance of embracing change and avoiding a fear of failure is discussed. The speaker also highlights the need to categorize decisions as reversible rather than perceiving them as irreversible one-way door decisions, which can hinder taking risks and experimenting with change.
