Executive Performance Books - 'Tools of Titans' (Part 2: Wealthy)
"If you find yourself in a fair fight, you didn't plan your mission properly."
- Colonel David Hackworth
What could you learn from some of the wealthiest people in the world?
Part 2 of Tim Ferriss' 'Tools of Titans' gives us just that. The tactics, routines and habits of billionaires. A cheat sheet to success.
Check out Part 1: Healthy here.
Here's the absolute best passages from a section abundant in gold.
Derek Sivers - Don't be a donkey.
Everyone is trying to pursue many tasks at once and getting frustrated that no progress is being made in any. You have to choose one thing and go after it.
It's the fable of the donkey standing halfway between a pile of hay and a bucket of water. It can't decide which to have first. Unable to choose it eventually falls over and dies from hunger and thirst.
It's knowing that if you choose one thing it doesn't mean saying no to everything else. This requires foresight and patience, virtues which are hard to come by.
You can have everything you want, just not right now.
One at a time.
Tony Robbins - Investing in yourself is the best type of investment.
There's no financial investment which will match investing in yourself. As you develop more skill, more ability, more insight, more capacity, that's what's going to really provide economic and personal freedom.
It must always be followed by action.
"If you let your learning lead to knowledge, you become a fool. If your learning leads to actions, you become wealthy."
Casey Neistat - What is the ultimate quantification of success?
It's not how much time you spend doing what you love. It's how little time you spend doing what you hate.
What is your model of success?
Have you even defined it?
If not, how will you know when you get there?
Seth Godin - What you track determines your lens - choose carefully.
For those of us with food and a roof over our heads - we find ourselves caught in a cycle of keeping track of the wrong things. How many times we failed. How many times we were let down. But, it doesn't make us better.
Instead, wouldn't it make more sense to keep track of the the times it worked? All the times we took a risk? All the time's we made someone's day?
This self narrative defines us. It takes a while to realise the narrative is completely up to you. It's something you choose. When you realise this, you realise you can change the game.
Scott Adams - People have goals. Successful people have systems.
Choose projects and habits which develop skills and relationships even if they result in 'failure' in the short-term. Choose options which allow you to inevitably succeed as you build assets which transfer to subsequent projects.
In other terms, don't set goals. Set up a systems which you can practice and develop which lead to the end-game. With goals, you have an end point and stop. Systems allow you to develop momentum to surpass goals and sustain success well into the future.
Scott Belsky - It's not about ideas, it's about action.
We all have good ideas. We have idealistic dreams and things we'd like to do. It's not about ideas, it's about making ideas happen.
Ideas are worth nothing unless they are brought into reality. If you want to do something, and the idea has merit, go and make it happen.
Rolf Potts - Freedom.
(A passage I found interesting)
We see long-term travel as an exotic temptation. A faraway recurring dream. Not as something that applies to us. Instead - out of our insane duty to fear, fashion and monthly payments on things we don't really need - we quarantine our travels to short, frenzied bursts. In this way, travel becomes another accessory - a smooth-edged, encapsulated experience that we purchase in the same way we buy clothing and furniture.
We end up spending the best part of one's life earning money in order to enjoy a questionable liberty during the least valuable part of it.
Work is how you settle your financial and emotional debts - so that your travels are not an escape from your real life, but a discovery of your real life.
Peter Diamandis - The rules that guide his life.
Law 2: When given a choice . . . take both. Law 3: Multiple projects lead to multiple successes.
Law 6: When forced to compromise, ask for more. Law 7: If you can’t win, change the rules. Law 8: If you can’t change the rules, then ignore them. Law 13: When in doubt: THINK. Law 16: The faster you move, the slower time passes, the longer you live. Law 17: The best way to predict the future is to create it yourself.
Law 22: The day before something is a breakthrough, it's a crazy idea.
B.J. Novak - Get the long-term goal on the calendar before the short-term pain hits.
You can't make each day a referendum on whether you quit or not. Progress and success is bred out of consistency. Build momentum, even though it's difficult and may suck some days.
You must schedule (and if possible, pay for) things in advance to prevent yourself from backing out. Make commitments in a high-energy state so you can't give up in a low state.
Tim Ferriss - How to say 'no' when it matters most.
"The wisdom of life consists in the elimination of non-essentials"
- Lin Yutang
If it isn't a hell yeah, it's a no. For people who often over-commit, and feel scattered because of it, need to raise their bar. When you say no to things you leave room in your life to really throw yourself at the rare things which make you say, HELL YEAH!
First, to become successful, you need to say 'yes' to a lot of experiments, risks and favours. You have to throw a lot against the wall.
Once your life shifts from pitching outbound to defending against inbound, however, you have to ruthlessly say 'no' as your default. Instead of throwing spears, you're holding the shield.
When you reach a decent level of professional success, lack of opportunity won't kill you.
Being overwhelmed by inbound can have the opposite effect. Instead of making great things possible, it prevents great things from happening.
In terms of investing - whether it is time, money or energy - the purpose is to allocate resources to improve your quality of life. This requires you to be specific and think long-term. Are you willing to accept a mild and temporary 10% decrease in quality of life for a high-probability 10x return?
When it comes to sticking to your guns, it pays to know where you yourself.
"The first principle is that you must not fool yourself, and you are the easiest person to fool."
- Richard P. Feynman
In simple terms, you must know where your cruxes are. What are your domino habits, where one thing takes you on a downward spiral? Know where you can moderate and where you can't.
This rings true for health. Making health #1 50% of the time doesn't work. It's absolutely all-or-nothing. If it's #1 50% of the time, you'll compromise precisely when it's most important not to.
To know what you need to say no to you can use pain to find clarity. Examine pain, instead of ignoring it, and it can show you what to excise from your life. Further this with 'fear-setting' (in part 3) to really bring your new perspective into fruition.
Take action on simplifying your life and choosing to say no.
What do you have to lose? Chances are, nothing.