Book Byte #30 "The Diary of a CEO" by Steven Bartlett
The 33 Laws of Business and Life
📣 Curious Quotes from the Author:
“If you want to keep someone’s brain lit up and receptive to your point of view, you must not start your response with a statement of disagreement.”
“Stories are the single most powerful weapon any leader can arm themselves with – they are the currency of humanity. Those who tell captivating, inspiring, emotional stories rule the world.”
“The Law: To master it, you must create an obligation to teach it Learn more, simplify more and share more. Your consistency will further your progress, the feedback will refine your skill and following this law will lead to mastery.”
“We subjectively accept evidence to be true based on our experiences and biases.”
“In aviation there’s a principle called the ‘1 in 60 rule’, which means that being off target by 1 degree will lead to a plane missing its end destination by 1 mile for every 60 miles flown. This concept also applies to our lives, careers, relationships and personal growth. Just a small deviation from the optimal route is amplified over time and distance – something that feels like a small miss now can create a big miss later. This highlights the need for the real-time course corrections and adjustments that the kaizen philosophy provides. If we are to be successful, we all need simple rituals to assess our course and make the necessary small adjustments, as frequently as possible, in all aspects of our lives.”
“THE FIVE BUCKETS 1. What you know (your knowledge) 2. What you can do (your skills) 3. Who you know (your network) 4. What you have (your resources) 5. What the world thinks of you (your reputation)”
“We usually start our professional life acquiring knowledge (school, university, etc.), and when this knowledge is applied, we call it a skill. When you have knowledge and skills you become professionally valuable to others and your network grows. Consequently, when you have knowledge, skills and a network, your access to resources expands, and once you have knowledge, skills, a valuable network and resources, you will undoubtedly earn a reputation.”
“Those who hoard gold have riches for a moment.
Those who hoard knowledge and skills have riches for a lifetime.
True prosperity is what you know and what you can do. LAW 2 TO MASTER IT, YOU MUST CREATE AN OBLIGATION TO TEACH IT This law explains the simple technique that the world’s most renowned intellectuals”
“One can have no smaller or greater mastery than mastery of oneself; you will never have a greater or lesser dominion than that over yourself; the height of your success is gauged by your self-mastery, the depth of your failure by your self-abandonment. Those who cannot establish dominion over themselves will have no dominion over others.”
“Stop telling yourself you’re not qualified, good enough or worthy. Growth happens when you start doing the things you’re not qualified to do.”
“Amazon follows the same fail-faster religion. Jeff Bezos, founder of the trillion-dollar e-commerce platform, sent the following memo to his shareholders when the company became the fastest ever to reach annual sales of $100 billion: One area where I think we are especially distinctive is failure. I believe we are the best place in the world to fail (we have plenty of practice!), and failure and invention are inseparable twins. To invent you have to experiment, and if you know in advance that it’s going to work, it’s not an experiment. Most large organization's embrace the idea of invention, but are not willing to suffer the string of failed experiments necessary to get there. Outsized returns often come from betting against conventional wisdom, and conventional wisdom is usually right. Given a 10 per cent chance of a 100 times payoff, you should take that bet every time. But you’re still going to be wrong nine times out of ten. We all know that if you swing for the fences, you’re going to strike out a lot, but you’re also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in a while, when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it’s important to be bold. Big winners pay for so many experiments.”
“Participants collecting stamps as part of a café’s rewards program buy coffee more frequently the closer they get to earning a free drink;”
📚 Cognition of the Book’s Big Idea:
Steven Bartlett, British Entrepreneur and Big Podcast Host discusses the 33 skills in Business he has learned from Interviewing some of the biggest names in business with his YouTube channel almost having 5 Million subscribers. Each of the Skills…