12 - Startup Stories [part 3] - Success, Failure and Bitcoin - Sam Harris and Theo Ricketts
Play episode · 41 min

SAM HARRIS AND THEO RICKETTS

This is final episode of the trilogy, the season and the entire year.

Sam and Theo finish up the series with some personal stories and a review of how entrepreneurs can be more successful. If you haven't listened to the first episodes with Theo start there.

Additionally, I share some of my best insights from the podcast this year as well as my 2 satoshi on Bitcoin and being a strategic investor.


TOP TIPS

1. SUCCESS = EXECUTION, PERSISTENCE AND JUST TAKING IT SERIOUSLY

There have been a number of idea’s that really could have been a success if we’d put more effort into the execution and persisted with the idea. Often the success of a project is directly relational to how seriously you take it. Putting time and money into it is often the only way to really ignite a business. Once things are going and you have a customer the next steps can seem to happen but crossing the chasm from a hobby side-project to a fully fledged business is a big step you have to commit to by taking a big breath and taking the plunge.

2. PRACTICE MINIMALISM

A million to-dos in your day are confusing and lead to decision fatigue and generally poor execution. Having less is really more in all aspects of life. Practicing minimalism in everything is liberating and allows you to be much more successful. Whether it is stuff you have stored at home or the amount of packing you have. to the number of idea’s, you work on at once.

Now that I’m living a more minimal life I really find it mental the amount of stuff that people have they don’t use, yet they let it take up their time and money just keeping hold of these things they don’t need. A great new years thing to do is a big clear-out of your possessions. Analyse your main projects and prioritising which ones you want to achieve first and focus on just that. Give your brain the freedom to be awesome at something without distraction

3. BE REALISTIC ABOUT EXPECTATIONS

For your own sanity and for the benefit of others you can really help yourself by being realistic about what you expect to achieve. Being ambitious is essential, but if it leads to you overpromising on things you will end up working far too hard on things that you under-deliver on. People will perceive you as a failure and often incapable, you will lose motivation yourself and end up with too many things on your plate which as discussed earlier is not what you want.

Allowing longer timelines for things means you can do them properly with focus. People you work with whether a customer or a boss will know when they are getting the thing and you can expect it to be of correct quality. You can execute stress-free and have some time for yourself to chill rather than running around like a stressed out headless idiot that ends up failing at everything. There is a fine line between ambitious and plain naivety and be careful to always stay on the correct side of it

4. MEDITATION

Meditating has some serious life benefits. It’s not easy emptying your mind and concentrating on one thing and anyone who practices meditation for 20 minutes and says they achieve complete calm the whole time is a liar. The point is to recognise that you’ve gone off the rails and bring yourself back to the start.

The more you practice the better you get and you can focus on your work or task at hand with much less procrastination so that you can then quickly get onto the other things you enjoy.

I have a slightly overly active mind and this has helped me certainly in working. but only last week for the first time did this help with sleep. I generally get some idiot idea in my brain or something from the day that pisses me off and I have these stupid conversation replay in my mind of what I’m going to do and it all goes nowhere. for the first time was I really able to step out of my own head. Tell myself I’m wasting my time and quiet the inner monkey. and next thing I was asleep. This might not sound like much to you but for me this was incredible.
Whatever personal vices you have whether it’s being more grateful for the stuff around you. Being less stressed out or being more focused at work.

Meditating on these subjects can bring real benefits and success in defining how you want to be as a person.

5. BITCOIN

It would be a bit wrong to finish the year without talking about bitcoin. I’ve personally invested a fair amount of money in it and made some incredible gains over the year. I did a lot of research on the topic, listening and reading to everything I could. As a scientist I feely very safe in concluding that no one really knows what’s going on. It final hit virility and mainstream and no one really predicted exactly how that could play out. from one week to another the cryptocurrency of favour makes no real logical sense and you can’t predict it.

My personal recommendation if you are wanting to invest is to spread your money over quite a few currencies and don’t hedge your bets on just a few. Spending time trying to trade them is a huge risk where you will likely lose yourself money and a lot of time and gain a whole load of stress. It’s taking over the lives of so many people right now who have a severe addiction I really would advise just buying and not looking for a year too much.

Regret minimisation I think is essential to be mindful of when it comes to crypto. On how much to invest decide in long run with a potential of 1000% gain or 100% loss what would you regret the least in ten years time and invest something you’re comfortable with.

When taking money out or moving it remember it can shoot up again tomorrow or crash basically on a 50:50 basis. so if either of those events will fill you with regret don’t let captain hindsight beat you up later or panic when your holdings go down and sell everything.

Remember to keep a more bird’s eye view of your investments rather than being caught up in each little one emotionally.

Say you own 100 grand and you decide to put 5% into bitcoin. hypothetically that money grows to be 105 grand so you now are worth 200 grand.

So over 50% of your entire world money is in bitcoin. a highly volatile and risky place for it to be.

So let’s say you had no money in bitcoin but now own 200 grand, would you invest over 50% of all your money into Bitcoin? If not then you should take some out! Otherwise, why didn’t you put 50% into bitcoin in the first place?

This is a key lesson to keep you sane and more likely to sell high and buy low rather than the other way round which is a classic trap people fall into when a market feels like it’s sliding or going up and you end up buying at the peak form FOMO or selling in the dip from panic.


CONTACT

You can email theo - theohricketts at gmail.com

or check out his latest biz www.postary.com

Sam:

Subscribe!

If you enjoyed the podcast please subscribe and rate it. And of course, share with your friends!

Special Guests: Sam Harris and Theo Ricketts.

Support Growth Mindset Podcast

The 5 AM Miracle with Jeff Sanders
The 5 AM Miracle with Jeff Sanders
Jeff Sanders
Distraction-Free Writing with Freewrite Founder Adam Leeb
Episode Show Notes jeffsanders.com/364 . Learn More About the Show The 5 AM Miracle Podcast . Free Productivity Resources Join The 5 AM Club! . The 5 AM Miracle Book Audiobook, Paperback, and Kindle . Connect on Social Media Facebook Group • Instagram • Twitter • LinkedIn . Episode Summary What if You Could Just Write … Without Distractions? I have published 2 books and written hundreds of articles, and yet blocking distractions while writing has always been an issue for me. I fight the urge to not-write so many times that I have to get creative to force myself to just sit and write. That’s why I’m so excited about a new device that can radically improve productivity by eliminating distractions at the source. In this week’s episode of The 5 AM Miracle Podcast I speak with Adam Leeb, co-founder of Freewrite, about how we can all optimize our ability to do what we need to do — any nothing else. . Resources Mentioned in this Episode Calm [Free month of your first year] Swanson Vitamins [Get 20% off and free shipping on orders $50+ with code HEALTHY20] Right Side Up [Free week of service after your first quarter of engagement] Focus@Will [Start your 2-week free trial] Adam Leeb [Adam’s website] Astrohaus [Adam’s company] Freewrite [Distraction-free writing tool] Freewrite Traveler [Smaller travel version of the original Freewrite] Logitech G600 MMO Gaming Mouse [Computer mouse that Adam uses] ThinkPad TrackPoint Keyboard II [Computer keyboard that Adam uses] . Adam Leeb Adam Leeb is an award-winning product designer and mechanical engineer (MIT ’07) originally hailing from the burbs of Detroit, MI. He is obsessed with product design especially in relation to user experience and user interaction. Currently, Adam spends most of his energy as a co-founder at Astrohaus in Detroit, Michigan. In his role there, he ideated, designed, launched, and saw through to mass production the Freewrite distraction-free writing tool. Prior to Astrohaus, Adam founded SunDaily, a nutritional supplement brand focused on Vitamin D and new formulas for the modern desk-worker looking for better performance. Adam started his career on Wall Street working in a variety of roles at Macquarie Bank. He operated as an investment banker, private equity professional, lender, and structured commodities finance provider.
48 min
THE BRENDON SHOW
THE BRENDON SHOW
Brendon Burchard
Re-Engage with Your Best Self
We've all worked too hard, and have dealt with overwhelm and stress. So how do we achieve just as much without overworking ourselves? In this episode, learn strategies to re-engage yourself so you can best operate from your highest self. “There can be grace amid the grind. There can be happiness in the hustle. There can be enthusiasm as we are giving full effort as things play out.” If you'd like to make strides toward becoming your best self, this episode is for you! How To Succeed Without Grinding Get our HPX Supplement HERE: hpxwellness.com Get your High Performance Planner HERE: highperformanceplanner.com/ For more visit: HPXLIFE.com For more training on high performance, at a deeper and more interactive level, join us in High Performance Monthly training program. It's my monthly subscription training program where I go LIVE every month, training you on a new topic or piece of research from High Performance Institute as well as providing LIVE coaching! If you like this, you'll LOVE that. Subscribe at https://Brendon.com/monthly Subscribe to my YouTube vlog. New episodes (almost) weekly. Join 2 million subscribers on my weekly newsletter, FOUR BREAKTHROUGHS. Get a free copy of my book High Performance Habits (I bought it for you, you just pay your shipping). Follow me on Instagram. ABOUT: Brendon Burchard is the world’s leading high performance coach and one of the most-watched, quoted and followed personal development trainers in history. He is also a #1 New York Times bestselling author and in the Top 100 Most Followed Public Figures on Facebook, with over 10 million fans across his pages. O, The Oprah Magazine, and Success Magazine have both named him one of the most influential leaders in personal growth and achievement. Brendon's videos have been viewed more than 200 million times, and 2 million students have completed his personal development online courses and video series. He's created 13 blockbuster online courses, including the most popular motivation, confidence, and habits online video courses of all time. For these results, Success Magazine featured him on its cover, and Oprah.com named him “one of the most successful online trainers in history.” A #1 New York Times, #1 Wall Street Journal, and #1 USA Today best-selling author, his books include High Performance Habits, The Motivation Manifesto, The Charge, The Millionaire Messenger, and Life’s Golden Ticket. Meet him at Brendon.com
37 min
How to Be Awesome at Your Job
How to Be Awesome at Your Job
Pete Mockaitis
618: Finding Greater Clarity Amid Uncertainty with Jodi Hume
Jodi Hume shares decision-making strategies for finding greater clarity whenever you’re stuck.  — YOU’LL LEARN —  1) What to do when every decision seems overwhelming  2) Two best practices for sorting through tough decisions  3) Powerful questions to surface hidden roadblocks  Subscribe or visit AwesomeAtYourJob.com/ep618 for clickable versions of the links below.  — ABOUT JODI —  After a 15-year career as COO of a growing architecture firm, Jodi Hume shifted gears and has made a name for herself over the last decade providing on-call decision support and facilitated leadership conversations for startup founders, corporations, entrepreneurs and executives. Each week, she also hosts So, Here’s My Story… a business podcast of real stories with poignant take-aways and plenty of humor. She’s the lead singer for The Wafflers – and if you ask nicely, she might tell you about the time she won 1st place in a Truck Pull.  • Jodi’s website: LeadingClarity.com  • Jodi’s website: JodiHume.com  • Jodi’s podcast: So, Here's My Story...  • Jodi’s LinkedIn: Jodi Hume  — RESOURCES MENTIONED IN THE SHOW —  • Tool: Miro  • Tool: Mural  • Book: Winning with Accountability: The Secret Language of High-Performing Organizations by Henry Evans  — THANK YOU SPONSORS! —  • Rise.com. Build your team’s learning library–the fast and fun way–with Rise.com/awesome  • Four Sigmatic. Enhance your productivity and your coffee at foursigmatic.com/howtobeawesome
44 min
Achieve Your Goals with Hal Elrod
Achieve Your Goals with Hal Elrod
Hal Elrod
348: The Evolution of The Miracle Morning Movement
With the world premiere of The Miracle Morning Movie approaching, I’ve been reflecting a lot on how TMM Movement has evolved over the past 12 years. What began as my little morning routine that I shared in a book, has since evolved into an international community and a worldwide movement. It’s had an astounding impact on millions of people as individuals and collectively, one person and one morning at a time. The Miracle Morning enables each of us to go out into the world as the best version of ourselves. It gives us the power to impact every life we touch and has had an immeasurable ripple effect on the world around us. Today, I’m looking back at how the Miracle Morning has evolved. Whether you’ve been practicing the Miracle Morning for years or just joined the community recently, I’ll be sharing tons of behind-the-scenes stuff you’ve likely never heard before, exploring what it really means to elevate the consciousness of humanity, and diving deep into just what makes this practice so transformative and powerful. Get The Full Show Notes To get full access to today's show notes, including audio, transcript, and links to all the resources mentioned, visit HalElrod.com/348 Subscribe, Rate & Review I would love if you could subscribe to the podcast and leave an honest rating & review. This will encourage other people to listen and allow us to grow as a community. The bigger we get as a community, the bigger the impact we can have on the world. To subscribe, rate, and review the podcast on iTunes, visit HalElrod.com/iTunes.
1 hr
More episodes
Search
Clear search
Close search
Google apps
Main menu