Saturday Success Series: Volume 10
Making life & money work for you.
Welcome back to the Saturday Success Series email!
In this edition we’ll have:
Five to Focus On: A quote, stock, book, show & a beer.
Master Yourself: The only type of failure that should upset you.
Master Your Money: What I would do if I was starting from scratch.
And of course…
The Weekly Special: 9 Things You Should Start Doing to Significantly Improve Your Life
The goal here is maximum value, so let’s get to it.
Oh, by the way, if you’re feeling generous, please share this newsletter with a friend.
Five to Focus on:
In a noisy world, it’s hard to know what’s good out there. Let me help.
Quote to ponder: “We learn by example and by direct experience because there are real limits to the adequacy of verbal instruction.” - Malcolm Gladwell
Stock to consider: FCLD (Fidelity Cloud Computing ETF). The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Cloud Computing Index. Disclaimer- this is not financial advice, I am not a financial advisor, and you should always do your own research.
Book to read: The Character Edge by General Robert L. Caslen. I’m a true lover of “soft skills” and think they often matter more than hard skills, in the sense that you can teach hard skills to almost anyone. Soft skills are a little more inherent. But- we can all improve our character, consistency and commitment. This book discusses strengths of the head, heart and gut. It also has a chapter about nurturing good character, that will help not just you but also the children in your life.
Show to enjoy: WandaVision on Disney +. It just won best TV series on Rotten Tomatoes. I actually binged this and I’m not a binger. It was truly well done and is so much different than anything else on TV.
Beer to sip: Boreal Spruce IPA from Winding Path. If you’re not drinking a hazy, juicy IPA…you want a piney one (during the winter). This one is almost too dank (musty, wet, funky, marijuana-y), but it’s still so solid. (7.2% ABV)
Master Yourself
There are 2 types of failure in business…execution failures and experimental failures.
But, only one should upset you and that’s execution failure.
Experimental failure is when you’re trying new things, you’re learning and the risk may pay off.
Execution failure is when you fail to execute properly in a segment you already know.
Example…
You already own 2 gas stations but your third fails…that’s a failure you should feel bad about. You’re in this space, you know this industry, you know how to execute the opening and success of a gas station. But you still failed. You need to dissect what exactly what went wrong.
But if you own a gas station and you try adding a robot attendant and it fails, that was an experimental failure. You learned things. You can come back with different AI, now or later. You can decide to go back to personalized service with a human attendant. You can let people pump their own gas and maybe provide some sort of heating/cooling system for the winter and summer. No one likes pumping gas on a 10 degree day.
Whatever you decide, you don’t need to be upset about experimental failure. You need to keep experimenting and innovating.
Experiments eventually pay off.
Master Your Money
Big thing I would 100% recommend prior to investing (and you know how much I love investing) is to build an emergency fund.
I’m seeing multiple families/people early this new year who are in trouble and now relying on GoFundMe campaigns to take care of them. Don’t end up in that position.
Take care of your family. Build up a 6 month emergency fund that will cover all of your outgoing bills over that period of time.
If I were starting from scratch right now:
I’d create a spreadsheet. How much money is coming in, how much is going out, how much do I owe in debt?
I’d find ways to cut costs and increase income (ex. Shop car insurance & consider a job hop).
I’d pay down any high interest debt (over 4-5%) as quickly as possible by throwing every extra dollar it.
Now I begin building an emergency fund. 6 months worth of my outgoing bills.
Once my debt was paid down and my fund was in place, I’d look to invest. I’d some basic research, but don’t get into analysis paralysis.
I’d start simple- open a brokerage. Low (10 dollars) to no minimums, no fees. Any extra money that I would have put in my emergency fund will now go to investments.
I’d buy ETFs, choosing themes I believe in for the future (ex. Clean energy, autonomous driving, metaverse, etc.)
I’d continue to learn about additional investment options (real estate, crypto, NFTs, etc.).
Weekly Special:
9 Things You Should Start Doing to Significantly Improve Your Life
It’s time to get serious about becoming the best version of you.
The days are flying by. The weeks come and go quickly. We’re almost a month into 2022 already.
You can’t afford to keep waiting to change.
Choose long-term over short-term.
Have 1 year, 5 year, 10 year and beyond plans. Really think of how you want to live 5 years from now. Start doing things that help you rich that goal, that version of you.
Short-term pain for long-term gain will always pay off and you’ll be thankful you sacrificed.
Be very consistent.
You really can’t accomplish anything without consistency. So, make sure you’re tending to your good habits and routines daily.
Or at least never skip 2 days in a row. If I miss my workout or morning meditation on a Wednesday, I’m definitely not missing it Thursday.
I even take time to plan my daily routine into my vacations. Consistency is that important.
You can safely discard anything that is not improving your life.
If something isn’t making you happier, calmer, wealthier, etc. get rid of it without too much thought. This includes media (social or news), relationships and jobs.
I haven’t watched the news or read a news site in 2–3 years. It’s been fantastic. Everything that’s actually important finds its way to me.
Get really comfortable being alone.
Just you, with yourself, without distractions. Whether it’s just hanging out on your couch, sitting on your patio or walking through nature.
Great thoughts and work can happen in this bubble. In nice weather I like to sit out back with a kombucha and a notepad. I’m smiling just thinking about it.
Take inventory of the week ahead.
Remove any obligations, chores, etc. that you can. Chunk must do’s together where possible.
Then aim for as much free time on your schedule as possible. This is where self-care and self-improvement can occur. This is where the fun and the flow of life can really be enjoyed.
For the record, free time does not mean bum time. This is time for side hustles, creative work, content creation, etc.
Understand that no one is coming to rescue you.
You have to learn to save yourself. Because, really, truly, no one is coming to save you.
Everyone else is out here trying to survive or, hopefully, thrive, as well. You may get a helping hand here and there (do your best to also be a helping hand) but no one is going to drag you into a successful life.
You need to take care of this one yourself.
Learn to let go sooner.
We all hold onto things that stopped serving us (or never did) for too long.
Relationships are a prime example, but habits and jobs fit here too. I know damn well I have stayed with girlfriends I shouldn’t have for longer than I should have, held onto friends longer than I should have and stayed in a job where I wasn’t just bored but becoming uninspired.
Stop doing that to yourself. You know when it’s time to leave, so go.
Track the habits you want to adopt.
Want to exercise more? Put an X on every calendar day you go to the gym or run around the block.
You can do this with most habits. Meditation, sleep length, step count, writing, reading, etc. Seeing your habit, or lack of it, stops you from lying to yourself.
Be really fucking honest with yourself.
You’re not chubby- you’re fat. You’re not stupid- you’re lazy and/or scared. You don’t lack willpower- you’re just not sure you really want it. You’re not helpless- you just refuse to take personal responsibility.
You’re good at working with others but bad at being self-motivated. You care more about credit than solid work. Whatever it is, just be very honest with yourself. It does you exactly zero amount of good to lie to yourself.
Thanks for reading and if you found this valuable, please share with someone who could use it. See you next Saturday!