Personal Podcast Notes (431) Making Trade-Offs with Greg McKeown
My personal notes.
*Essentialism is not about doing more stuff it’s about doing the right stuff.
*A non-essentialist thanks almost everything is essential. An essentialist thanks almost everything is not essential.
*You can’t escape making trade-offs. If you don’t decide what trade-offs to make other people will decide your priorities for you.
*When we think that we can say “yes” to something without saying “no” to something else or believing a lie. Nonessential and just has one real defect. And that’s that it’s a lie.
*What are the few things that are going to help me make the highest contribution.
*We are usually trying to do more when the answer is cutting out things that we shouldn’t be doing.
*If you don’t prioritize your life someone else will.
*Be careful not to fall into the trap of delegating white should not be done at all.
*Hire slow. Fire fast.
*Growth can be one of the fastest ways to kill your business. You need discipline expansion and growth.
*Everyone is an essentialist during a calamity. Everyone was an essentialist following the real estate market collapse.
*Practicing Essentialism
1.Explore what is essential
2.Eliminate what is not
3.Execute by making it as easy as possible. For example, using social pressure hacks like give your TickTock password to an accountability partner. Tell your significant other about your new commitment to your essential priorities, and donate $100 to the political party you hate if you fail.
*But in the early stages of any venture you flip the order. Your Explore, Execute, and Eliminate. The primary way you Explore is asking people, learning from people, and as fast as you can, admitting your ignorance, not pretending you know anything….and keep on being in that state. Then, you’re going to Execute. Try something out. Small bet. Fast. Then you Eliminate, also fast.
*You’ve got to keep on admitting your ignorance so you can learn really quickly. If you pretend to know, and act upon that pretension, you’re going to make expensive mistakes.
*You can 10 X you’re learning speed, not by being more intelligent, by being honest about your ignorance.
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