Read time: 11 min
Good morning. It’s National Waffle Day. We like ours with homemade whipped cream or ice cream when we’re feeling especially extra. How do you eat your waffles?
Brownie points if you can finish this line: L’eggo my ____!
“Nothing in the world can bother you as much as your own mind, I tell you. In fact, others seem to be bothering you, but it is not others, it is your own mind.”
– Sri Sri Ravi Shankar
MINDSET: Train your brain to win
Making Decisions Given the Information You Have
Jobs, Wozniak, and… Wayne?
In 1976, Ronald Wayne worked at Atari, where he met coworkers Steve Jobs and Steve Wozniak. During a two-hour conversation about technology, Jobs proposed founding a computer company led by him and Wozniak. Those two would each hold a 45% stake so that Wayne could receive a 10% stake to act as a tie-breaker in their decisions.
Wayne was generally risk-averse. He was older than Jobs (21) and Wozniak (25) and had personal assets he worried could be seized. Because he believed he was “standing in the shadow of giants” and wanting to avoid financial risk, he returned to the registrar’s office. He renounced his role in the company, therefore relinquishing his equity in exchange for $800 on April 12, 1976.
Now, his 10 percent share would be worth more than $100 billion. Wayne has little regret and says that he made “the best decision with the information to [him] at the time,” an admirable reflection.
The idea of deciding with the information available to you at the time is something that Jeff Bezos uses to make big and small decisions. In a letter to shareholders, he says, “most decisions should probably be made with somewhere around 70% of the information you wish you had…you need to be good at quickly recognizing and correcting bad decisions. If you’re good at course correcting, being wrong may be less costly than you think.”
Wayne fell into Apple pretty quickly, a fast decision. In a moment of clarity, Wayne feared his decision could result in him never creating a product of his own and considerable financial loss. With that information, he reversed course. In literally 20/20 (the year 2020) hindsight, it may seem like a foolish decision, but can Wayne be faulted for worrying about his current situation and not seeing the crazy success that Apple has become?
STAND UP EIGHT: Triumph & persevere
Dwindling Your Diminishing Returns
You’ve probably heard the term “diminishing returns” before, whether it was applied correctly or otherwise. Diminishing returns refer to a point at which the level of profits or benefits gained is less than the amount of money or energy invested. In other words, the point at which +1 of a resource (time, money, or effort) results in less than +1 improvement in the outcome.
We can experience diminishing returns in so many areas of our lives that recognizing when we’re at that point can be difficult. This is especially frustrating when we fail and continue to fail because we do the same or similar actions expecting different results instead of adjusting.
Realizing when we’re at or approaching the point of diminishing returns is essential because it saves us from wasting valuable time, energy, effort, and money. Becoming adept at understanding this principle can make you millions.
One Achiever, Sarah, a real estate agent, uses this to her advantage all the time. For months, she would show houses to potential buyers and sellers regardless of how many showings they requested. After a while, she realized that the prospects who most often turned into sales met with her two or three times, and prospects who met her more than that rarely resulted in a deal. Thus, Sarah found her point of diminishing returns. She then would only meet with clients two or three times and, in a few weeks, had tripled her sales because she no longer wasted time on the 4+ meetings.
Apply this to your own life, with prospecting clients, teams, peer meetings, or even exercise. You’ll find the optimal point when spending your valuable time.
ACHIEVERS’ ARMORY: Equip yourself with proven tools & tactics
Find Talent For Your Non-Profit
Have you or are someone you know kicked around the idea of starting a charity or non-profit? It is not necessarily something major, but a small organization dedicated to raising awareness or funds for something important to you. The idea is exciting in theory until you realize the help you need and what that might cost. Luckily, Catchafire has made it possible to find new and emerging non-profits to find the volunteer help they need.
Catchafire is a volunteer matching platform that connects non-profits with various skilled professionals. The goal is to help cash strapped charities run their companies with the help of experienced volunteers. As an organization, you can request services such as marketing, sales, accounting, public relations, website development, administrative tasks, and so much more.
The platform allows individuals who possess these skills to give back by working for a great cause. For new freelancers, this is an ideal way to build your portfolio and gain valuable experience.
To learn more about the various services they offer or to apply to a project for yourself, click here.
SELF-DISCOVERY: Unleash the Achiever within
When “Just Be Yourself” is Dangerous Advice
“Be authentic,” “unleash your true self,” and “don’t worry what others think of you” are all maxims we hear to push us to be ourselves. In actuality, fewer people than the fingers on your hands have even met and learned to tolerate your true self.
What does “being yourself” actually mean?
The mantra suggests behaving in a more uncensored, natural way. Almost like when you have a drink, and your social inhibitions are slightly down, and you’re more likely to say what you think, express how you feel, and do things that your inner voice usually wouldn’t let you do.
However, this isn’t the best thing to do in certain situations. Imagine being in a work meeting where your coworker suggests something that you think is stupid, and you believe they are generally incompetent. If you’re acting as your unadulterated self, what’s to stop you from telling them? Although we’ve probably imagined doing this, we’re quite aware of the consequences and don’t do it.
Don’t get it twisted: there are fantastic reasons for nonconforming and having a mind of your own. For example, your morals or principles that prompt resistance of irrational and oppressive rules and norms. But there’s a difference between doing that and assuming praise for doing what you like, what feels right to you, or represented a completely unfiltered version of yourself.
Why “just be yourself” when you have the option to try to be the “best possible version” of yourself?
EMOTIONAL INTELLIGENCE: Master the soft skills
To Fight, Or Not To Fight? That Is The Question
Whether ’tis nobler in the mind to suffer / The slings and arrows of outrageous fortune, / Or to take arms against a sea of troubles, / And, by opposing, end them?
Doesn’t Shakespeare seem to captivate us all? We think this quote applies to more than just the trials of existing, but also the idea of fighting the good fight. We’re talking about arguments, lovers’ spats, legal battles, the tension between colleagues, and everything in between.
It’s sometimes exciting to enter an altercation, especially when you think you’re right or have a winning argument or even if we’re bored. The exhilaration of arguing and winning is a real ego boost and feels psychologically validating when we overpower our opponent with facts, details, coherent points, and articulate, logical facts. We come away feeling superior, happy, proud, and validated. Very rarely, however, does the person(s) on the other side of your verbal fury walk away happy with you, truly convinced and feeling better than before they fought with you.
The real winning play is to avoid the fight entirely. The real masters of persuasion know that a fight (in any sense of the word) isn’t that glamorous. Think of a fistfight, you may be sure you could win, but would you come away entirely unharmed? What about a lucky shot? Is the fight worth potentially losing? Or any injury at all? Prob not. This is a strategy utilized all the time in the legal industry. Instead of costly litigation, which consumes valuable resources like time and money, often the best approach is to settle and avoid the process entirely. You may win in court, but it’s usually not a smart move to risk it. We hear about this all the time in marriages as well, instead of arguing, why not just avoid the battle that would exhaust everyone involved.
The next time you’re on the cusp of a fight, think, “Is this worth it.” Perhaps ’tis nobler in the mind to fight, but ’tis nobler, in reality, to avoid the altercation entirely and find a way to be collaborative or convincing without being oppositional.
FUN STUFF – RIDDLE ME THIS
One day, a man jumped from a plane without a parachute and suffered no injuries, how is that possible? Answer below.
NEWS BREAK: Stay informed
- Back-to-back hurricanes, Marco and Laura, will target Louisiana starting Monday evening, forcing evacuations.
- President Donald Trump announced Sunday the emergency authorization of convalescent plasma for COVID-19 patients.
- In private recordings, President Donald Trump’s sister, Maryanne Trump Barry, is heard criticizing her brother in private, saying the president “has no principles.”
- Vanessa Bryant honored her late husband Kobe Bryant and their daughter Gianna on what would have been the NBA star’s 42nd birthday on Sunday.
1% BETTER: Improve each day
Riddle answer: The plane was grounded.