After sitting in as the audience member on many talks and listening to a lot of Q&A’s from experts both live and digitally, I’ve noticed that many people end up asking the same question. Not just the same questions, but the same type of questions, usually in the format of: what’s more important? this or that?
What’s more important passion or hardwork?
What’s more important product or marketing?
What’s more important? idea or execution?
find new opportunities vs capitalizing on current opportunities?
charisma vs authenticity?
what’s currently working vs. future trends and predictions?
The answer varies. Sometimes the answer is heavily in favor of one, sometimes its the other. If its a question posed in a forum, a Facebook status or a Youtube comment, a debate will soon follow.
Guys, we’ve already spent years listening to people’s opinions on these matters. What’s more important ...the idea or the execution of the idea? The answer is both, let’s move on. I’m not ranting on these types of questions, I’m just surprised that people are still asking these types of questions after they’ve heard different people give different answers to the same question for years.
To be fair, you might ask me, how can you say its both, sometimes it’s one or the other. And well, you’re right. It is sometimes one or the other, but we get so caught-up on on trying to maximize our actions for one or the other that we get stuck. So, my opinion is that if you have the question of “is one more important than the other”, you run through that question mentally and you feel like the answer is likely both; then it will save you a lot of time to just assume so.
You’d do well if you worked on both things at the same time maintaining a one-to-one ratio and basically putting equal effort on both fronts.
There will be a time when its more lucrative to maintain an unbalanced ratio and put more effort into one. But I think you should only do so when you recognize the timing and the context strategically.
For example, let’s go back to the product or marketing question. If you recognize that timing is a big factor, then you’d want to put more efforts into marketing during a boom economy and more efforts into product when the economy is down. The reason why is that during an economic boom, more people are willing to spend money and you should maximize revenue — when it’s down, materials and labor are cheaper so you can do more R&D.
This is just one contextual factor, and there could be a million situations and factors that impact what’s more important. But in the end, having good balance means maintaining awareness of the ratio of effort and strategically choosing to put focus toward one or the other. If you don’t know where to strategically put focus to, then just assume both and move on.
A year and a half ago I was invited to sit at a workshop and be a guest expert at a conference. The event was Hardware Con, and because I had just been invited briefly before, and have never been a “guest expert”, I had no idea what to expect. So, because I had no idea what to expect, I didn’t think much of it until I got there. While sitting in the room 5 minutes before our workshop session started a small feeling of anxiety began to creep into me.
Thoughts popped up like: What kind of answers would I give that would even be helpful to these guys? Am I gonna tell them what camera to buy or what the difference between a grip and a gaffer? Would it benefit them for me to give feedback on the videos they’ve made?
Nothing out of the ordinary happened. They didn’t ask me questions that we’re related purely to the technical aspects of video production as I had initially worried about, but instead asked me to give feedback on some video ideas or to give feedback on their video strategy. This is all good and logical enough, but for some reason I felt like the advice I could in this domain wasn’t enough and wanted to give higher level advice, so I asked them about their overall marketing and what their funnel looked like. This was 2014, mind you, and internet marketing was still somewhat an obscure thing to learn, and because I was so interested in it at the time (still am) I felt like there was a lot I could give input on.
As so, when I transitioned the conversation to talking about internet marketing, things started to go south. People started getting uninterested and confused. One person even felt provoked by his skepticism and and asked, “Wait, what expert are you a field of again?"
Principles by Ray Dalio is basically a collection of all the wisdom Ray Dalio has ingrained. Halfway finishing the book I thought This book is amazing, but it has too many good lessons. How am I going to remember to apply these lessons when the situation arises?
The typical route for developing your own principles is to make a mistake, feel the pain of that pitfall and think, how could I have avoided that error? At which point your brain replies, You developed a wrong opinion about this person. Didn’t Ray Dalio say something about opinions in his book? At which point you flip back to the page and read:
This is nice to keep in mind for the next time a similar problem occurs, but wouldn’t life be easier if you didn’t have to go about making mistakes and learning from them — if you could see the situation and apply the right protocol?
The problem isn’t that we don’t have foresight, the problem is that when we’re going through life events, we don’t have a mental clarity to consciously remember to apply the right protocol to the right situation. If we were robots we could. If we we’re robots we could just set an IFTTT trigger event (or a Zapier) that pops up in our mind and tells us what to do. Obviously we’re not robots, but I think there’s something that clues us in on how to move toward this, and that something is If / Then statements (Conditional Statements).
I like to think a lot, and as a result of thinking a lot I come up with a lot of theories and mental models. When I was younger I was one of those “Why don’t you believe me!?” types, but as I’ve gotten older I’ve noticed that I had been wrong so many times, that just because a theory I came up with made sense to me, it could very likely be false.
But if I immediately dump my theories, then I think I could be dumping a lot of value. Because all high level work — anything conceptual or longterm lives in the realm of theory.
So how does one make sure they're not stuck in theory, and that they're actually getting results that apply to the real world?
In my opinion, the easy answer, and the answer you hear most often is: "take action”. While this is accurate advice, I think it’s one of those simplistic pieces of advice that doesn’t really get you anywhere.
I want this post to be helpful to you, but in order to do that, I need to quickly explain what I think theory is.
I remember when I first wanted to get good at basketball. Like anyone of course, I Youtubed Kobe Bryant moves and tried to learn them. I remember thinking that his advice was generic and inapplicable. His advice, however, is actually really good advice, it was just that it was inapplicable for me. That’s how many people view strategy; their inability to value it isn't because the strategy itself is bad (although sometimes it is) but because they don’t have the referential compression to understand it and see how they would apply it. With those Kobe videos, I was still new to basketball, I could barely shoot the ball let alone do a post up—fadeaway jumper...
This perception of generic advice was very similar to my early days of attending business conferences. At the end of the conference I would ask my fellow friend/audience member what he thought of the keynote and they would say something like, “Wow, it was so good. Thinking of retargeting pixels as a form of long term branding, that’s going to be amazing for my business”, and I would be thinking What? why can’t he tell me something that I can actually do today.
Only after I got better at basketball and learned fundamental movements, could I appreciate Kobe’s strategic choice of moves. Since I now know how to do a spin or finish with a reverse layup, I can string them together. I can appreciate the strategy behind that combo: your defender thinks you’re going to drive hard baseline, so instead you spin back into the paint, since you’re in the paint the big will come in to block your shot so you reverse layup using the rim as protection.
And as for my understanding of business, back then I didn’t even know what retargeting pixels were, and I still don’t really know what they are. But I’ve practiced running Google ads and Facebook ads, and I know how to use the Divi theme for Wordpress, and I’m decent at writing copy so basically I just write three ads and copy and paste the script that Google gives me near my contact form. Quick note: I haven’t actually done that yet, and I intend to implement it soon.
And the result, well, it’s not perfect, and will take refining, but the point is I can scrap something together, and when I can do that I can appreciate simplistic advice that sounds heady and do higher level work.
I walked up to the front desk and asked, “I have some questions about my account, can I speak to a manager?”. I was at the gym, and my plan was to ask about why they charged a $30 fee, and a mailing I got saying they offered a $7 membership. I wanted to see if there was leverage in negotiating a waiver of the $30 or my membership fee ($15) down.
The manager explained that the $30 fee was a yearly fee and that the $7 membership is a special membership that allowed you to only go 3 times a week. So, I didn’t get a negotiation win from that —
If you know me, I’m a big fan of Ramit Sethi and one of his main financial teachings is to have you negotiate a lot throughout the course of your life. When I first read his material I immediately agreed with his advice, but the thought of negotiating things seemed weird and out of the norm. I mean, I’m Chinese so I naturally inherited a lot of my Mom’s skills, but I didn’t know how to apply these skills outside of flea shops or Craigslist.
But since for the past year I’ve been playing the credit card signup bonus game, and incurred credit card fees and bank fees, I’ve made many attempts at applying Ramit’s negotiation techniques. His blog posts basically walk you through each step, and by following it, I’ve experienced how easy it is to win at these things. For example, I lost track of my Amex card and didn’t realize I didn’t pay the card for 3 months. This resulted in late fees of over $100. But Amex’s customer service is so good, all I had to do was call in and ask for them to be waived, and they did. When you experience wins like that, success can be addictive.
I remembered when I first got out of college. I spent half my time building my video production agency and the other half doing content marketing for Fuzed. Once I got the hang of managing the podcast, Jake, my boss, gave me the project of creating feature release landing pages with an accompanying explainer video for each new integration that came out. (Fuzed makes integrations similar to how Zapier works)
At the time, it was such a struggle to write the copy for the video, then write the copy for the landing page, then go into Wordpress and put it together. It took me days to get one done, and was painfully frustrating. This frustration lead me to think I would be much better off putting my time building my agency, why am I working for Jake? My agency work is creative and fun and these copywriting tasks are a pain. Of course, this attitude lead to a lack of initiative on my end, leaving Jake with disappointment.
When we parted ways, my initial thought was Yes now I have the free time to work on what I want to work on. But It’s been a year since that time and I regret dropping the ball and allowing Jake to be disappointed in me. It's not that I feel regret because of a loss of opportunity to work at Fuzed, but because I went from being an A player to being a C player once I was assigned set of projects that I wasn’t excited about.
If I think about completing the same project now, I could knock out a feature release landing page + video in a few hours. It seems so easy now.
I use this to take all of my ideas, no matter how irrelevant or how low it is as a priority and I write them all down into swipes. Then I just "later" those ideas far into the future so future me can be reminded. Maybe then I'll decide to actually take action on those ideas when its a better time.
In this video I:
Mailbox is an App by Dropbox that syncs with your laptop and your phone. The best thing about this app is that you can boomerang emails to yourself so that when you want to reply to an email later you don't have to do it right away.
In this video I cover:
If you've followed my blog so far, you'll notice productivity patterns. One pattern, or habit, if you will, is the ability to just work on one single task or one single project for a set block of time.
Naturally, as the day progresses, we open up more and more tabs as work and other interesting content gets shared with us.
So in the video I cover: