BC BUSINESS

Jack Butcher
@jackbutcher 5 years, 8 months ago 846 views

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10 reasons your product will fail.

Words: @BrianNorgard

↓

1. Too complex

2. Can't be easily described

More from Jack Butcher

Jack Butcher
@jackbutcher

Why you need to be selfish: (thread)

I have had countless conversations with people looking for a way to build a brand/audience/community online.

Here's the one thing I think everyone asking that question should be thinking about.

You need to be selfish.

Why?

Because (at a high level) if it helps you, it will eventually help others.

At a tactical level, it's provides the motivation to keep going.

The lack of instant feedback on what we share publically is enough to extinguish most projects before they even get moving.

But allow me to reframe the idea:

You need to do things that benefit you even if no one sees them.

Did posting @visualizevalue images into a void 18 months ago do anything for my career as a designer?

Yes.

Would I have kept going if there wasn't some selfish drive to be more competent? (and make more money, work with better clients, etc)

No.

Jack Butcher
@jackbutcher

10 ideas that changed my life: (thread)

Illustrations by @visualizevalue.

1/ Get more done by doing less.

2/ You can't get better unless you get started.

3/ Zoom out. It's getting better. (IP via @behaviorgap)

4/ 'Normal is an illusion. What is normal for the spider is chaos for the fly.' — Charles Addams

Jack Butcher
@jackbutcher

Why promoting yourself/your business/your ideas feels uncomfortable:

You must repeat things that are obvious to you until they become obvious to others.

This is why most people hire marketers or outsource the amplification of their message.

The problem with that is no one is an invested as you are, and no one knows your message like you do.

And why those who break through their discomfort reach an escape velocity that eludes most.

This is a difficult and unnatural process, hence the upside on the other side.

Another way to think about it is the famous shelf analogy:

No one wants a drill they want a hole, no one wants a hole they want a shelf, no one wants a shelf they want to a place to put books to look smart, etc.

People care about the 2nd, 3rd, 4th order effects of your work.

Jack Butcher
@jackbutcher

Building a Personal Monopoly: (thread)

How to combine competence, curiosity, and character to create a category of one.

↓

1/ Competence

If we want anyone to spend their time, attention or money on anything of ours, we must first be competent.

Lots of people are competent, so there's lots of competition here.

Let's say this is "school teachers"

2/ Competence + Curiosity

If we add curiosity to the mix, competition starts to thin.

This separates the generalist practitioners from the irrationally passionate.

Let's say this is "school teachers who are curious about learning innovation"

3/ Competence + Curiosity + Character

Now combinatorics put us in category of one territory.

Let's say this is "school teachers who are curious about learning innovation, building a gamified school inspired by SpaceX's Ad Astra." (real example: @anafabrega11)

4/ Making it Tangible

All this is great until it comes to communicating it to the rest of the world.

Which is why bad packaging kills amazing ideas.

Writing, design, marketing — our job here is to lose as little as possible in translation from the intangible to the tangible.

Jack Butcher
@jackbutcher

Circle of Competence 101:

@SahilBloom x @jackbutcher

↓

1/

A Circle of Competence is the set of topic areas that align with a person's expertise.

If the entire world of information were to be expressed in a circle, an individual's Circle of Competence is the small sub-circle that represents their expertise.

2/

The idea surfaced in the 1996 BH annual letter.

"You don’t have to be an expert on every company...you only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital."

3/

A Circle of Competence is built over time.

It is built through experience, reading, dedicated study, and effort.

It is dynamic, not static.

It can expand as you deepen your knowledge in new areas. It can contract if you fail to nurture your existing areas of expertise.

4/

To engage this mental model in your life, there are two key processes to go through:

(1) Identify what falls within your circle
(2) Identify the boundaries of your circle

(1) is all about figuring out what you know, while (2) is about humbly admitting what you don’t.

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James Clear
@JamesClear

My top 10 tweets of the year

A thread 👇

https://t.co/xj4js6shhy

Entrepreneur\u2019s mind.
Athlete\u2019s body.
Artist\u2019s soul.
— James Clear (@JamesClear) August 22, 2020

https://t.co/b81zoW6u1d

When you choose who to follow on Twitter, you are choosing your future thoughts.
— James Clear (@JamesClear) October 3, 2020

https://t.co/1147it02zs

Working on a problem reduces the fear of it.

It\u2019s hard to fear a problem when you are making progress on it\u2014even if progress is imperfect and slow.

Action relieves anxiety.
— James Clear (@JamesClear) August 30, 2020

https://t.co/A7XCU5fC2m

We often avoid taking action because we think "I need to learn more," but the best way to learn is often by taking action.
— James Clear (@JamesClear) September 23, 2020

Nick Huber
@sweatystartup

A THREAD on how most real estate folks structure deals with outside investors.

Most people utilize the "preferred equity" structure when they raise money from outside investors. They "syndicate" deals.

Here's the basics:

The person (or team of people) putting the deal together is the "sponsor". Also called general parter. Referred to on twitter as the GP.

They find the property, do all the work, hire the management company and take fees. They often co-sign debt and always secure the financing.

The investor is generally passive, doing no work and putting in cash. This is the "limited partner". Referred to on twitter as the LP.

They don't co-sign debt. They simply read reports and ask the sponsors questions and cash checks every month (if the deal is going well).

There are two equity classes.

"Preferred equity" belongs to the LPs. Cash talks, so this is a higher class of shares. They are first in the "capital stack" behind the debt (bank loan).

"Common equity" belongs to the sponsor. They are generally last in the capital stack.

Sponsors generally co-invest. That means they hold both equity classes. A 10% co-invest is standard.

That means the GP has skin in the game. His 10% co-invest makes him both an LP and a GP.

PePe Le Q
@Pe_Pe_Le_Q

So while America was forced into a high percentage of unemployment, billionaires in America made 406 billion from their “essential” businesses.

I wonder how much came from the

Funny, this transfer of wealth from the poor citizens to the rich billionaires aided by lockdowns and tyrannical governors wasnt just isolated to America. Australia billionaires seemed to amass much wealth during a time record number of businesses

AUSTRALIA: Country's billionaires are over 50% richer than they were this time last year, according to data from Bloomberg Billionaires Index.
— The Spectator Index (@spectatorindex) December 30, 2020

Travis
@coloradotravis

It's endlessly fascinating how economic datapoints get interpreted.

When I was in charge of a P&L, the guy who ran Finance for us and I had what we called the 'shelf plan.'

There were maybe 3-4 of us who knew it existed.

What's a shelf plan?
1/

Well it's a plan you keep on the shelf (full FP&A model), that you hope you never have to use.

It reduces forward hires, cuts back various line items (typically ad spend, travel, that sort of thing).

Oh, it also has a big fat RIF in there.

That's why we don't talk about it.
2/

Why have a plan instead of winging it?

Because this is where companies (particularly young companies) sometimes err. They do little cuts - 2-3% here and there, preserving as much headcount as they can, that sort of thing.

This is incorrect.
3/

If you're at the point where you need to make material changes to your forward P&L, at 2-3% RIF will be followed by another.

And another.

And this series of progressive cuts will cripple morale, incrementally reducing the productivity of the staff you retain to survive.
4/

And so the shelf plan cuts deep.

Your goal is to go from being a peacetime machine to a wartime machine, so you gotta lean out quick. Can't do that without a plan, hence the need to have one.

~30% cut is what you need.

And then you need to tell everyone left they're safe.
5/

Abhishek
@Crazynaval

@passivefool

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#ஆதித்தியஹ்ருதயம் ஸ்தோத்திரம்
இது சூரிய குலத்தில் உதித்த இராமபிரானுக்கு தமிழ் முனிவர் அகத்தியர் உபதேசித்ததாக வால்மீகி இராமாயணத்தில் வருகிறது. ஆதித்ய ஹ்ருதயத்தைத் தினமும் ஓதினால் பெரும் பயன் பெறலாம் என மகான்களும் ஞானிகளும் காலம் காலமாகக் கூறி வருகின்றனர். ராம-ராவண யுத்தத்தை

தேவர்களுடன் சேர்ந்து பார்க்க வந்திருந்த அகத்தியர், அப்போது போரினால் களைத்து, கவலையுடன் காணப்பட்ட ராமபிரானை அணுகி, மனிதர்களிலேயே சிறந்தவனான ராமா போரில் எந்த மந்திரத்தைப் பாராயணம் செய்தால் எல்லா பகைவர்களையும் வெல்ல முடியுமோ அந்த ரகசிய மந்திரத்தை, வேதத்தில் சொல்லப்பட்டுள்ளதை உனக்கு

நான் உபதேசிக்கிறேன், கேள் என்று கூறி உபதேசித்தார். முதல் இரு சுலோகங்கள் சூழ்நிலையை விவரிக்கின்றன. மூன்றாவது சுலோகம் அகத்தியர் இராமபிரானை விளித்துக் கூறுவதாக அமைந்திருக்கிறது. நான்காவது சுலோகம் முதல் முப்பதாம் சுலோகம் வரை ஆதித்ய ஹ்ருதயம் என்னும் நூல். முப்பத்தி ஒன்றாம் சுலோகம்

இந்தத் துதியால் மகிழ்ந்த சூரியன் இராமனை வாழ்த்துவதைக் கூறுவதாக அமைந்திருக்கிறது.
ஐந்தாவது ஸ்லோகம்:
ஸர்வ மங்கள் மாங்கல்யம் ஸர்வ பாப ப்ரநாசனம்
சிந்தா சோக ப்ரசமனம் ஆயுர் வர்த்தனம் உத்தமம்
பொருள்: இந்த அதித்ய ஹ்ருதயம் என்ற துதி மங்களங்களில் சிறந்தது, பாவங்களையும் கவலைகளையும்

குழப்பங்களையும் நீக்குவது, வாழ்நாளை நீட்டிப்பது, மிகவும் சிறந்தது. இதயத்தில் வசிக்கும் பகவானுடைய அனுக்ரகத்தை அளிப்பதாகும்.
முழு ஸ்லோக லிங்க் பொருளுடன் இங்கே உள்ளது https://t.co/Q3qm1TfPmk
சூரியன் உலக இயக்கத்திற்கு மிக முக்கியமானவர். சூரிய சக்தியால்தான் ஜீவராசிகள், பயிர்கள்

SK
@sk_diary1

Margatha Natarajar murthi - Uthirakosamangai temple near Ramanathapuram,TN
#ArudraDarisanam
Unique Natarajar made of emerlad is abt 6 feet tall.
It is always covered with sandal paste.Only on Thriuvadhirai Star in month Margazhi-Nataraja can be worshipped without sandal paste.

After removing the sandal paste,day long rituals & various abhishekam will be https://t.co/e1Ye8DrNWb day Maragatha Nataraja sannandhi will be closed after anointing the murthi with fresh sandal paste.Maragatha Natarajar is covered with sandal paste throughout the year

as Emerald has scientific property of its molecules getting disturbed when exposed to light/water/sound.This is an ancient Shiva temple considered to be 3000 years old -believed to be where Bhagwan Shiva gave Veda gyaana to Parvati Devi.This temple has some stunning sculptures.