10 lessons from @warikoo ’s book “DO EPIC SHIT”

An illustrated thread. 🧵

1/20

Sharing some takeaways from the book : India's Money Monarchs* , ONLY of the conversation with Sanjoy Bhattacharya.

* Available on Kindle Unlimited now.

@Vivek_Investor and @dmuthuk
I think you & your followers might like this . 🙂

#BookTwitter
#BookRecommendations

2/20
🔸On How to Minimise Risk ?

* Look at long term volatility of Cash Flows ( assuming Financial Statements paint a fair picture )

* Check if business generates Free Cash Flow ( FCF). This ensures company is unlikely to be wiped out at the bottom of the cycle.

3/20
🔸Management Integrity matters.

You notice good governance only when it is gone !
Hence unless one has demonstrable proof on a long term basis that people are honest , consider them to be crooks .
Cynical approach but helps save us from losses !

4/20
🔸 Level of competitive intensity in the business matters. Risk is lower when there are fewer players.

More cut throat the industry , more finesse shall be required and growth shall depend on the ability to adapt and successfully execute.

5/20
🔸Try to anticipate what can change in a business .

Scanning the historical precedent or envisaging the future helps .

Inherent risks of business matter !

Sometimes these are completely overlooked & can prove to be extremely expensive.

10 Insightful Lessons From the Book “Ego is the Enemy”

⚡️Book Review⚡️

1: Your worst enemy lives in you

It is true that all of us, with no exemption, harbors a certain level of pride and ego.

Since pride is in us, it is either we feed it or starve it.

👉How you deal with your pride makes the big difference.

2: Manage your pride

As soon as you feel you are becoming egoistic, boastful, and proud – you can tell yourself to stop.

👉Instead of directing people’s attention to you, choose to direct attention to others.

3: Pride tells you to talk, humility tells you to listen

Ego encourages you to lift yourself and base your worth on nothing or false worth.

On the other hand, humility tells you how important it is to listen to people.

👉So, we listen twice as much as we talk.

4: Become a student

Ego tells you not to listen to anyone. As a result, you stop learning. You stop growing.

So, if you want to keep on learning, learn to be humble first.

✅That’s how you become Great.

I have a $100,000 business degree.

But I've learned 10x more by reading books.

10 business books that will change your life:

Getting to Yes by Roger Fisher

Lessons:
• You can negotiate anything you want.
• The best negotiation tactic is to first offer the other side something they want.

Drive by Daniel Pink

Lessons:
• Money alone isn't enough to motivate us.
• We are most motivated when we can also achieve control and freedom.

The Almanack of Naval Ravikant by Eric Jorgenson

Lessons:
• The most effective way to get rich is to learn how to build and sell a product.
• The only real test of intelligence is if you get what you want out of life.

Atomic Habits by James Clear

Lessons:
• Habits compound to produce huge results.
• The best way to build habits is to make them easy, attractive and rewarding.

8 Practical Idea🔧 from "The All-or-Nothing Marriage" /Part 1
⚡️Psychology Book Review

1⃣ The attitudes of men and women have significantly changed when it comes to marriage.

⭕️for modern women, it’s paramount that relationships not hinder personal freedom and growth.

⭕️As for the modern man, we can also see signs of how there is less willingness to compromise in a marriage.

2⃣ Marriage and personal fulfillment aren’t mutually exclusive, but commitment may involve some self-delusion.

⭕️marriage and personal fulfillment can, and do, coexist.

⭕️Since a marriage is a partnership, it contains a built-in support system, where each person can encourage and help the other in their own quest for self-growth and fulfillment.