5 Micro Skills That Will Improve Your Life Drastically

// A THREAD //

How to Think Better: 5 Robust Tips

// A THREAD //

We think all the time.

Yet, we don't spend much time thinking about HOW we think.

But this meta-level is required if you want to IMPROVE your thinking.

Thinking is the highest ROI skill you can build for life.

Let me show you five tips on how to do it.

1. Get bored

The great thoughts don't come to you when you're busy jumping from one task to another.

- Shower
- Walk

...those are the places where great thoughts tend to appear.

Take advantage and plan how to incorporate "boredom" into your life.

P.S. Meditation counts

2. Know your thinking biases

We as people have some predictable errors in our thinking.

You need to know them, so you can take them into account - and adjust.

Where to start?

@ScottAdamsSays book Loserthink
or Daniel Kahneman book: Thinking Fast and Slow

3. Use mental models

Mental models are general principles that you can apply to various situations.

I strongly recommend you to build your own base of those.

Where to start?

Blog: @farnamstreet

Book: Poor Charlie's Almanack

5 Non-Bullshit January Challenges That Will Change Your Life

// A THREAD //

Many of my threads are somehow conceptual.

They have practical implications but it may not be super clear at the first spot.

This thread is different.

Let me present you with 5 super-specific, practical January challenges that will change your life (even one of them).

All of those challenges are brutal - especially at the beginning.

How to prepare?

- Write down your motivation, speak about the benefits they will bring to you.
- Tell your close friends (or even make a bet with them)
- Think about the activities you will do instead

LFG.

1. Unistall All PC Games

The more thrilled player you are the harder it will be, and the bigger benefits it may have.

Be prepared for being hitten hard by them cold-turkey.

And have some great books ready... you will need them.

2. Go no-fap

I promised it's brutal!

So why?

- You may funnel the stored sexual energy toward some productive activity
- Girls near you will start to look MUCH more appealing
- You will have much more real sex than ever before (trust me on this one)

How to Price Your Services in a Way You Don't Get Busto

// A THREAD //

Whether you're a full-time freelancer or you just want freelance on the side you have to know your price so you don't get busto.

We will discuss the three most common ways how to price your services:

- Hourly rate
- Project rate
- Service as a product

But basics first.

Don't think about the price as a one-night-stand.

Rather build a very close relationship with it.

It:

- helps you to increase/decrease demand
- gives hints about how good/bad your service is
- positions yourself on the market

Know how to use this tool.

Cheaper ≠ Better

Imagine someone selling you a car for $350.

What would you think about it?

Exactly.

Set the fair price, not the scam inducing one.

The cheap price will bring you a specific sort of people.
- to be polite.

So always compete with quality, not price.

1. Hourly rate

This is the most straightforward way how to set your price.

How to set it?

The basic equation may look like:
[Monthly target profit ($) + All costs ($)] / no. of billable hours in a month

PS. Even if you're starting out don't get much lower under this price.

How to Read Better and Gain More From It

// A THREAD //

“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time – none, zero.”

— Charlie Munger

...but maybe you don't and would like to.

That's why I put together this thread.

What will I cover?

1) The biggest myths about reading
2) Why should you read
3) How to find time for reading
4) How to gain the most from your reading

1) The biggest myths about reading

Let's start with briefly debunking some of the biggest myths out there.

"I don't have time for reading."
- We all have the same 24 hours. The reading may not be the priority for you, but that's a choice. The choice you made.

"Reading is boring."
- It doesn't have to be. As @naval puts it: "Read what you love until you love to read".

"Reading is procrastination."
- If you apply what you read, this is non-sense. And if you don't... I still think it's time well spent.

Yesterday, I wrote about how easy it is to sell ice cream on a crowded beach: https://t.co/a9z2ZTixb7

Today, I’m at the local fair.

There are hundreds of vendors.

But there are also huge crowds who are hot and thirsty; lots of demand for cold drinks!

Go where the crowds are!

Again, this is just a metaphor!

But it’s a good reminder:

🍋 If you have a lemonade stand, it’s better to go somewhere hot, where there are a lot of thirsty people.

💻 If you want to make software, it’s better to go where there are a bunch of potential customers.

BTW - targeting a good market doesn’t mean you’ll automatically win!

There are a TON of factors that influence a business’ success (or failure).

But choosing a market that has a lot of demand (and good channels) is essential for future success.

In business, nothing is guaranteed.

You might be in a good market today, but tomorrow it could fall apart.

Markets are fickle.

Some days they want 🍦, other days they want 🥤.

The economy can go up, or it can crash.

A good competitor can come in and grab market share.

But this reinforces the point:

“Business is already hard, why make it harder?” – @asmartbear

Why try to enter a niche where there’s no demonstrable demand?

Why try to serve a total addressable market of 500, when you could go after 500,000 potential customers?

I don’t buy into “you should have a cofounder”

I think investors are just hedging their bets on the team

Actively finding a cofounder seems odd and forced to tick a box ✅

If you (potentially) have one, great!

💰Pay amazing folks (contract/FTE/PTE)

One pro is to share the burden with someone who cares as much about the business as you do.

Going looking for a cofounder (whether you’re pressured to or not) seems like a disaster

If folks aren’t already buying what you’re thinking of selling, don’t start that business!

There should be be evidence that folks are already spending money in the space you’re thinking of entering.

Before AirBnB, folks paid money to stay at hotels, B&Bs, cottages, vacation homes, and hostels.

Annually, people spend $570 BILLION on travel accommodation.

Entrepreneurs need to follow the money:

“Where is it already being spent, and how can I get a piece of it?”

Don’t look for “problems that need solving.”

Look for categories where people/businesses are already spending money.

From an entrepreneur’s POV, if folks are willing to spend money on it, it’s a problem worth solving.

Apple has consistently followed this approach.

They didn’t make the first:

- PC
- Laptop
- MP3 player
- Smart phone

They saw the existing demand, and built on it.

10 reasons why I think now is the greatest time to launch a startup

You should probably consider starting something

Just listen to this:

You can start with the community

I’ve identified ~8000 communities that could be unbundled from Reddit

- They are thriving
- They could make you ~$1m/year of revenue
- You often need $400 max to build MVP to tap that untapped value
- It's fun

Sounds like a dream job to me

People in Silicon Valley don’t have an edge on you

SF held the monopoly on startups for decades. Now, being in SF doesn’t matter for 99% of businesses

Don’t let anyone tell you otherwise

The world is flat and is staying flat

Hell yeah. That feels good to say

You have 10x the amount of funding sources

You used to have to rely on VCs. Not anymore

To name a few:

- Fund via your community
- Fund via NFTs
- Fund via pre-sales
- Fund via tokens
- Fund via accelerators all over the world
- Etc

All of a sudden, you have 10x the options

Niche businesses can be worth billions

People used to laugh at niche. Why “go small” when you could “go big”?

The way to go big right now IS to go small

Large tech companies can’t be everything to everyone