- Hard work isn't everything. There are other factors as well
- You already have what it takes to succeed, you just have to find it
- To be successful, you need to use your unfair advantages
This to me is a really good book in terms of changing my mindset. It made me realize that success isn't hard work, and that someone isn't successful because they aren't putting in the work. There are other factors underlying it,
A video by Ali Abdaal encouraged me to start reading this book
Anyone interested in entrepreneurship, starting a side hustle, or even just looking for what they want to do in their life
How my life / behaviour / thoughts / ideas have changed as a result of reading the book.
- I started tweeting more (putting myself out there to create luck)
- Put more effort into my business College Boss (take advantage of my unfair advantages)
- Started reaching out to people more to grow my network and learn about people's stories
- Wanting to improve my personal website to include more personal stuff
- Coming soon...
Everyone has unfair advantages, so everyone has what it takes to succeed. The books talks about the MILES framework for unfair advantages
Money: Money can be an unfair advantage. It gives you the opportunity to pursue these businesses without worrying about feeding a family or whatever. It can also be great especially when you want to invest money into your business. A downside of money is that too much money can cloud your vision, and you may end up investing too much money
Intelligence and Insight: Intelligence can also be an unfair advantage. Being super smart (Collison brothers) is one. Or even just knowing that you could make something better like Google Founders. Insight is also huge. If you have a lot of experience working in a certain field (deliveroo founder) you will know the ins and outs and what problems there are. A downside could be overanalysis (paralysis by analysis). Also, the thought that you know everything based on your experience is very limiting
Location and Luck: Being in the right place at the right time, but more importantly, doing something about it. If you're in the right location, you can have access to the right talent, you can appear bigger than you actually are. Luck is also huge. Meeting a cofounder or a VC in a coffee shop is tremendously lucky. To make yourself more lucky, put yourself out there. Go to more events, blog about your startup, talk to more people. A downside is that being in a hip location means that you're probably going to be paying a lot more, and the talent will be super expensive.
Education and Expertise: Going to a really good school can be a huge unfair advantage. The name of the school (Harvard, Stanford) can put you in the bucket of successful entrepreneurs who graduated from that school. The Google founders had an educational unfair advantage because they were stanford PhDs and knew a lot about graph theory. Expertise is also being really good at one field. Find out what you're an expert in, and focus on that. You can build your expertise by reading books, learning online, doing projects, and finding mentors
Status: Status includes your network, and your overall social status. If you have a high status, people will regard you higher and want to be with you, thus expanding your network. You can increase your outer status by improving your expertise in several areas, so you're viewed higher. But you also need to have an inner status as well. That's confidence and self esteem. If you have a low confidence, that's going to show when you're talking with people. You need to improve that part for you to improve your outer status.