Often times we think we are automating a process, but instead, we may be automating a destructive pattern.
Do it manually for a few weeks.
Dont perpetuate bad actions.
Go through the learning as a person, automate what you learned.
A list of questions and checks to help you see if you should automate a process or not.
I've had a lot of people asking for this.
This is just what I use.
1st half are open-ended questions for exploration
2nd half are rankings for prioritization.
Hope this helps you!
Often times we think we are automating a process, but instead, we may be automating a destructive pattern.
Do it manually for a few weeks.
Dont perpetuate bad actions.
Go through the learning as a person, automate what you learned.
If you are filtering people for hire, and you automate right off the bat, you may automate based on the wrong criteria.
Its better to filter manually, do some calls, have some interviews, and adjust the process a bit until you are automating the right thing.
Automating, just to automate is not useful. It just creates another system to maintain without any upside.
Each automation adds to the complexity of your business process. As complexity increases, so does areas for breakage and unintended consequences.
Every automation results in loss.
Proximity to the process.
You may miss a "regime shift" as things change.
You may lose closeness to your customers and personal interaction.
You miss an understanding of your operation as it grows or changes.
Related to the above. When you do something manually, you auto-adjust based on changes.
When automated, the environment, rules, practices, culture, or something else slowly moves over time.
You won't be there to learn and adjust.
Have a plan.
For this I focus on
Impact
Strategy
Risk
Cost
Return
- What operational function is being affected
- How much of a difference/impact will this make for stakeholders? (employees, customers, suppliers)
- What is the targeted outcome for the stakeholders? (otherwise, you won't know if its working or not)
Every company should have a few targetted strategic outcomes they are working towards?
If the automation doesn't further these, it could be a distraction. Rank how well it fits in with the few strategic objectives you have.
Rank for each obj
Will this impact any of the levers for value?
- EBITDA / Cash Flow
- Multiple Expansion
- Customer Perception
- Competitiveness / Moat
- Time Required
- Maintenance time and energy required to keep up and running
- Upfront investment required
- ongoing costs required?
More from Life
It doesn't happen because you want it to happen.
It doesn't happen because you made it happen.
It happens because you allow it to happen.
https://t.co/j5hPyw9m9m
It doesn't happen because you made it happen.
It happens because you allow it to happen.
https://t.co/j5hPyw9m9m
There is a fine line between persistence and stubbornness.
— The Irrational Investor (@position_trader) August 28, 2019
True for life, true for investing.
1/ Some initial thoughts on personal moats:
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
This month I’m turning 22.
To celebrate, here are the 22 best threads I’ve found on Twitter this year.
Mostly about:
•Life/purpose
•Startups
•Entrepreneurs
•Writing
•Clarity of thought
If I see more interesting threads, I will add to this list.
Enjoy!
1. @ryanstephens: Need tips on growing a newsletter, mastering Twitter, writing online?
@ryanstephens breaks down a podcast discussion between @davidperell and @nathanbarry
Here’s what you can
2. @jackbutcher: How to separate your time from your income
•Explore the market
•Build equity
•Build products and services
•Scale your reputation
•Break the matrix
A fantastic thread complete with helpful
3. @AlexAndBooks_: I love to read.
Here is a great thread on 10 fantastic books.
Includes a short summary of each.
Don’t just take it from me, this is straight from the legend: @AlexAndBooks_
4. @m_franceschetti My biggest revelation in 2020 was the importance of sleep.
Here, @m_franceschetti founder of @eightsleep gives us his eight sleep hacks to improve sleep for 2021.
Do these and your productivity will
To celebrate, here are the 22 best threads I’ve found on Twitter this year.
Mostly about:
•Life/purpose
•Startups
•Entrepreneurs
•Writing
•Clarity of thought
If I see more interesting threads, I will add to this list.
Enjoy!
1. @ryanstephens: Need tips on growing a newsletter, mastering Twitter, writing online?
@ryanstephens breaks down a podcast discussion between @davidperell and @nathanbarry
Here’s what you can
"The Writing Guy" @david_perell recently joined the re-launch of @Nathanbarry's podcast to discuss growing your newsletter, mastering Twitter, writing online and monetizing your efforts.
— Ryan Stephens \U0001f943 (@ryanstephens) December 16, 2020
Here's what you can learn from him.
THREAD
2. @jackbutcher: How to separate your time from your income
•Explore the market
•Build equity
•Build products and services
•Scale your reputation
•Break the matrix
A fantastic thread complete with helpful
Divorce your time and income: (thread)
— Jack Butcher (@jackbutcher) July 18, 2020
3. @AlexAndBooks_: I love to read.
Here is a great thread on 10 fantastic books.
Includes a short summary of each.
Don’t just take it from me, this is straight from the legend: @AlexAndBooks_
I read 55 books in 2020.
— Alex and Books \U0001f4da (@AlexAndBooks_) December 29, 2020
Here are my top 10 favorites and a short summary of each.
(thread) \U0001f9f5 pic.twitter.com/yRyOFEygQ0
4. @m_franceschetti My biggest revelation in 2020 was the importance of sleep.
Here, @m_franceschetti founder of @eightsleep gives us his eight sleep hacks to improve sleep for 2021.
Do these and your productivity will
Sleep is always my top priority, and will continue to be in 2021. It is foundational to all health.
— Matteo Franceschetti (@m_franceschetti) January 4, 2021
I\u2019ve compiled a list of my top 8 sleep hacks that I use everyday to improve my sleep. If you are trying to improve your sleep in 2021, this thread is for you. \U0001f447
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“We don’t negotiate salaries” is a negotiation tactic.
Always. No, your company is not an exception.
A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.
Listen to Aditya
And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.
I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.
You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.
Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]
Always. No, your company is not an exception.
A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.
Listen to Aditya
"we don't negotiate salaries" really means "we'd prefer to negotiate massive signing bonuses and equity grants, but we'll negotiate salary if you REALLY insist" https://t.co/80k7nWAMoK
— Aditya Mukerjee, the Otterrific \U0001f3f3\ufe0f\u200d\U0001f308 (@chimeracoder) December 4, 2018
And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.
I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.
You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.
Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]