I studied psychology and philosophy at Duke in the early '80s. Then I got both an MBA and a law degree at Northwestern University in Chicago.
My first job out of school was doing corporate and securities work at a law firm in Dallas. By the early '90s, I knew that I was an entrepreneur.
Regardless, the path seemed random as I was going down it ... but looking back, it all seems to make some form of sense.
I recently did a podcast with a patent lawyer friend, Rich Goldstein. We talk about that, what it's like working with my son, the difference between practicing law and creating AI, innovation, and the role of Intellectual Property and its protection.
Worldwide, health & fitness app downloads have grown by 46%. With a mass majority of that being in India. On top of downloads, daily active users have also increased by 24% worldwide.
Is Home Fitness Here to Stay?
Health & fitness apps have been a big part of my arsenal, far before social distancing was a thing, and they'll continue to be an important part of my future fitness plans.
Many people prefer the gym/class environment for workouts, so home workouts will never represent a major proportion of the market, but it's non-trivial and continues to grow.
More likely to continue to grow in use are the tracking and mindfulness apps.
To some, new technology is a good thing. To others, less is more.
Most people simply "tolerate" technology transitions, some people drive them, and others crave them and use them as a catalyst for growth or strategic advantage.
In the image, above, the blue line represents consumer adoption (taken from Geoffrey Moore's "Crossing the Chasm", while the yellow line represents market share.
As you can see, only 2.5% of the population drive innovation (or adopt it early enough to help drive the Alpha & Beta versions of emerging technologies). 13.5% make up the Early adopters, who help get it ready for the mainstream. Then the early and late majorities are the groups that ultimately consume (or use) the mature product. Meanwhile, Laggards are often forced kicking and screaming into “new” technologies as the early adopters are well on their way to subsequent iterations.
Even if you are not an innovator, here are a few Innovator Mindsets that I find useful.
You Believe There’s A Better Way
Wherever you are, you know that there is a best next step and you are eager to find it and take it.
You recognize that the opportunity for more (or better) often lies just beyond the constraints or problems of the current way.
The bigger future fuels your efforts. When initial excitement fades, understanding what the bigger future can bring helps you power through.
You Are Comfortable Being Uncomfortable
You understand that Pioneers sometimes take arrows in the back.
When creating a new reality, you expect some resistance as a result of the law of averages. Escaping the status quo takes a lot of momentum, but it’s worth it.
You recognize when victory is near. In a quirk of human nature, too many people quit just before they would have won. Don’t make that mistake.
You Know Where You're Going, Even If You Are Not Sure How You're Going To Get There
Your goal should be your North Star. A clear direction is important to ensure that activity leads to progress.
Measure progress and momentum rather than the distance from your goal.
It is easier to course-correct while in motion.
If you’re too committed to a path that isn’t leading in the right direction, you might find what Blockbuster, RadioShack, and Kodak found.
You Are Married To Questions (Not Necessarily Answers)
Everything works until it doesn’t; and nothing works forever.
It’s easy to find an answer and think it’s the right one, but there’s always a best next step or a better way.
Figure out what you want and how to get it. This is much more empowering than focusing on what you don’t want or why you can’t get it.
Ask questions that focus on opportunities or possibilities rather than challenges or what you want to avoid.
Energy flows where focus goes.
Commit to finding a way!
I plan on sharing more Innovator Mindsets. Let me know what you think.
Well done is better than well said - Benjamin Franklin
Turning thoughts into things is an important skill set to understand.
Visionaries tend to spend a lot of their time exploring the future. In and of itself, this is neither good nor bad.
If you generate a lot of ideas (but don't properly cultivate and structure them) those ideas can easily become a distraction to you and your team.
When properly managed and pursued methodically and purposefully - those same ideas become the catalyst for massive progress.
There are three main ways, I believe you can make thoughts into things:
Focus Your Energy - People often focus more on what they don't want, rather than on what they do want. By directing your energy and focus toward opportunities and possibilities, it becomes a lot more likely that you will recognize and take advantage of opportunities and possibilities when they appear or occur.
Imagine Your Future - One of my favorite quotes is " the best way to predict the future is to create it." Abraham Lincoln originally said it, but I've thought or said it enough it feels like mine to me. By deeply imagining the future you want to call into existence, and thinking about it with that end in mind, it becomes easier to imagine the intermediary goals or milestones needed to reach your desired goals. The basic outline brings order to the chaos ... and the strategies and tactics needed come from the finer distinctions you make thinking about each part (or what is needed to reach the next milestone).
Make It Tangible - Name it! Naming something is powerful. Whether it's a product in your business, a concept, or a goal. Making it tangible solidifies it in your mind, and in the mind of others. Think about what happens if you reach it (and what would happen if you fail). Come up with the criteria that provides evidence of success. What would it look like? How would it perform? What does it make possible? What would it prevent? How would it impact key measures of efficiency, effectiveness, or certainty? What can you do about it now?
Ultimately, each of these ideas is entirely dependent on the actions you're willing to take. And how decisive you can be.
What aren't you doing because you're overthinking it? Are there opportunities you are missing simply because you aren't looking for them?
Have you seen it yet? It has had 20+ million views across various social media and syndication sites. So, you've likely run across it even if you haven't watched it.
The short version is that a woman tries to communicate with her significant other about her headache, which he quickly identifies as (literally) a nail in her forehead, with a seemingly obvious solution: Let’s get rid of that nail. She insists that that is absolutely NOT the problem, and if he would just listen to her, that would be clear to him. She explains, clarifies, objects, etc. Eventually, he does see the light ... and gives her not the solution he found so (literally) painfully obvious, but the solution she asked for.
"Don't try to fix it. I just need you to listen." It's obvious.
Good for a laugh, but, also good as a reminder. Simply put, a problem that may seem apparent to you may not be so obvious to the person with a problem ... and that might be the real problem.
Whether your takeaway is that we often miss the answer right in front of our face, or that we have to be aware of what other people need, or that you can't help people that don't want to be helped ... you're right.
Tomorrow is my 57th birthday. I can't believe how time flies. Birthdays seem to come more quickly as you get older.
It makes sense, though, I suppose. When you were four, a birthday represented a quarter of your life. Now, a year represents a much smaller percentage.
While it's not always pleasant getting older, it sure beats the alternative.
I made a concerted effort this year to make strides towards being more healthy, fit, and vital in mind, body, and spirit. If you are going to live longer, your future has to be compelling. I always strive for my future to be bigger than my past.
As time marches on, I become increasingly grateful for the friends and family who share the journey with me.
When I was a kid, I couldn't imagine being where I am today ... nor could I imagine the path that got me here. Looking back, it all seems to make sense (even though it felt pretty random while making my way through it).
I feel lucky to have been in the right place at the right time, so consistently, and to find the gift in most situations (even when it seemed so well hidden).
I'm grateful for a lot today, and as much as I love innovation, sometimes things are perfect just the way they are.
Hopefully, you took time this weekend to let someone know they're important to you. If not, now is a good time for that too!
Capitalogix started in my home. The first employee sat at a tiny desk behind me. Their job was to exit the trades I entered. This was an early attempt to avoid the fear, greed, and discretionary mistakes that humans bring to the business of trading.
We started to grow ... and somehow got to 23 people working in my home. It literally overtook my office, dining room, and the entire upstairs. Neighbors noticed (and expressed their displeasure).
Looking back, it seems crazy (and my wife seems Saintly). But somehow, at the time, it felt natural.
Incubating the company in my home, and growing it the way we did resulted in a closeness (a feeling much like family) that pays dividends, even today.
There is a concept in business expressed by the phrase "measure twice and cut once." It's much easier to do something the right way from the beginning rather than trying to fix it after you mess it up.
It saves time and creates a better end result.
Beginning with the end in mind is powerful. I often spend what looks like "too much" time imagining the bigger future. What will things look like when we are ten-times bigger? Who will we serve? What dangers will keep me up at night? What opportunities will we be trying to attract or capture? What strengths will give us confidence? Who will we be collaborating with ... and about what? It helps build a roadmap that makes it easier to understand whether particular activities are aligned with our future (or just something we are doing now).
I prefer to optimize on the longer-term rather than the shorter-term. That isn't always possible or practical ... but when it is, that is my preference.
Pace is important - and a focus on "what's the best next step" is an important driver at Capitalogix, but sometimes in order to go fast, you have to go slow. You may miss out on something, but the ultimate payoff is often worth it.
It's a good lesson for personal growth as well. There is no right timeline. No one size fits all. Take your time. Find your path.
There are many different methods of investing - and I've experimented with quite a few of them (fundamental, technical, statistical, quantitative, machine learning, etc.).
Ultimately, I believe most trading techniques work until they don't.
I don't believe that any technique always works ... but I do believe that there is always something that works.
Likewise, I believe that there is always a bestnext step.
Evolutionarily, the strongest or smartest doesn't necessarily survive ... The quickest to adapt and adjust to its changing environment is the one that gains advantage.
Consequently, it makes sense to be on the lookout for sources of new learning (even if they are old).
In the same way that reading news from an opposing slant can inform your decision - studying other beliefs may help you find the underlying truths (or spark the insight you needed).
Warren Buffet is a famous value investor. He does immense research on companies, attempts to buy them at a discount and then hold on to them for long periods of time. On some levels, our approach to the markets is radically different. On the other hand, it would be crazy to ignore the brilliance of what he "knows" and what he does.
One of his favorite books on investing is titled The Intelligent Investor by Benjamin Graham. It's a great introduction to the basics of value investing (versus speculating) and the role of inflation, margin of safety, etc.
It's worth a read ... but if you want to watch a good summary, here's a six-minute video.
Here Are Some Links For Your Weekly Reading - September 27th, 2020
Here are some of the posts that caught my eye recently. Hope you find something interesting.
Lighter Links:
Trading Links:
Posted at 03:02 PM in Business, Current Affairs, Gadgets, Healthy Lifestyle, Ideas, Market Commentary, Personal Development, Religion, Science, Trading, Trading Tools, Web/Tech | Permalink | Comments (0)
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