Showing posts with label strategy. Show all posts
Showing posts with label strategy. Show all posts

021 cliff notes from Tim Ferriss show podcast, Tracy Dinunzio

autodidact what is it?


Backend deep elements of system that make it work, function

Front end user interface html css, form

Organic search

social media

blogging

Excess capacity of cars - uber

Excess capacity of space - air b&b

Bootstrapping

Students paying tuition by working in uber

Paper clip turning into house

Low barriers to entry

High level of competition

Unfair advantage over rivals

SEO

Goals strategies tactics tools

Goals should remain

Tactics & tools should change for optimal results

https://castbox.fm/episode/Ep-30%3A-Tracy-DiNunzio%2C-Founder-of-Tradesy%2C-on-High-Velocity-Growth-and-Tactics-id1059468-id51930438

How to set simple goals and reach them

Goal setting process is 1st step of strategic thinking, yet very few people do it. Even if, they set goals, they do it in hasty manner and do not give much thought to the process. I am writing this post as a reminder for myself and also as a mental tool for future. According to the article posted in Psychology Today, setting goals has several of benefits to people who engage in this activity such as increasing productivity, becoming more frugal etc., here is the link to the article if you want to read it.


Brainstorm. What goals you want to reach? Do you have a list of goals? If not, then start to think about such a list. To ease this process, think about what is important to you in life. In one or another way, all people have similar list of things that are important for them in life. Here are few things that seem to me as important in life.


Health. Good health is indispensable value. Without it, you cannot do anything. Even if you can do something, you will pay little attention to that activity, since all your attention will be tied to ailment or disease you have. For this reason, consider your current health condition and pay attention event slightest symptoms of health problems. Have a medical check up and make sure you have good health for pursuing your goals and enjoying life. In order to maintain good health, eat healthy and nutritious food, do workouts, sleep enough and maintain good hygiene.


Family and Friends. Do you think about your family and friends on frequent basis? Do you spend enough time with them and say things you want to say to them? I often (always) cannot say everything what I think and feel about them. It is really important to spend more time with them, listen to them and be in the moment with them.


Dreams and Fun. Having fun time and making effort to reach dreams are essential for contentment and happy life. Without dreams and exciting activities, life becomes boring and senseless. I try to spare time for having fun with friends. Set and protect fun time from other activities. Have fun time and pursue your dreams.

Work and Money. I wish I could enough money. I think all people wish they could have enough money for pursuing their dreams and goals. Hard labor and earning money are part of life. Without them, we will not value what we have, thus working is good for us. However, everybody wants to make more money. For this to happen, one needs to think about it. One needs to consider various options and choose the best choice of work with highest benefits. Ideal case is to have work or business that could give you life you want, but that requires thinking and working for long time.


Self-improvement. Learning new things, mastering skills and professional growth are also important for happy life. I always feel like that I am not spending enough time on self-improvement. Try to read books, learn new things and write every day. If we want to reach dreams and goals in life, study and training should be part of our daily life.


Afterlife. This last point may not be much important to you right now. However, think about a time when you will be gone. In your absence, what kind of life will be living yourfamily, friends and community in general. Will you leave a good name and legacy, will you leave this world a little bit better after yourself? Death is unpredictable and may come at any time and especially when you expect it least. No one is guaranteed to live till certain age. Thus think about afterlife situation in short and long terms. At this point, this idea of death reminded me the inspiring speech of Steve Jobs in Stanford University in 2005.


Write down your 1st draft. After considering and finding what is important to you in life, write down 1st draft of your goals. Brainstorm and list all goals that you want to reach. Just having a list of goals in your mind is not a good idea, you easily forget them after passage of few weeks. Written goals are much better than ideas in your mind.


Choose life changing goals. After coming up with a list of goals, review them and ask yourself which of these goals will have the biggest impact to your life if you reach them. Choose the most promising 3-5 goals, not more. Pursuit of too many goals will leave you with nothing attained. Can the goals you have chosen make a really big change in your life? Are you really motivated to pursue these goals? Think about how much time is required for reaching the goals you have selected. If a goal takes more than 1 year to reach, then divide it into sub-goals and chose 1st stepping goal from the group. So far you should have few goals with time limits that can make real changes in your life. If you do, then go to next paragraph.


Simplify your goals. Make your goals as simple as possible. Ask yourself the following questions: Are you complicating your goals more than they need to be? Are you making them harder than they need to be? How they would look like in their simplest forms? I learned about this idea of simplifying goals from Tim Ferriss interview on 30 days of Genius video-cast. Ask these questions and get rid of useless fluff and focus on what you really want to reach. Review, simplify and rewrite your goals with above given questions in mind. Cut all secondary details of your goals and keep only what is really necessary.

Every day review your goals and take actions. After formulating, selecting, simplifying and writing down your goals, review them every day. Make it a routine to review them. Ask yourself what you can do now, today, this week or month to reach these goals. What actions can you take to come closer to reaching your set goals? Every day take actions, analyze your results and be consistent. With routine and consistence, you will reach your goals. I often forget to review goals, but once they come to my mind, I review them and think about what I have done to reach them.

Strategy: A History by Lawrence Freedman





Strategy: A History - by Lawrence Freedman


ISBN: 978-0190229238


How strongly I recommend it: 10/10


Go to Amazon or Audible pages for more details and reviews.


About the book
Strategy: a history, written by Sir Lawrence Freedman is exceptionally long and big book. Take this fact into consideration, if you decide to read this giant piece of work. However, I think it is a must read book for every person who is interested in strategic thinking or who wants to improve this skill. The book will give you a really good experience that you need to collect in many years of trials and errors. As the title states, it is about strategy, how it has been forming as a science and art throughout history and how it has been shaping various events and processes in various fields of human endeavor. This book is not a manual for strategy, but rather a historical, description of people’s attempts to think about future and realize their goals in detailed and entertaining form.


Author divided the book into four sections: War, Politics, Business and Social sciences. Every section of the book presents detailed account of key intellectuals and practitioners’ works on strategy. Readers may find abundant number of strategy cases derived from history, politics, economy, psychology, geography, logistics, and linguistics. All these multitude of cases makes the book unique collection of knowledge base on the topic.


What I have learned from the book
In general, I gained good grasp of strategy studies field and made a few discoveries that I am presenting as lessons I learned from the book. Considering colossal size and abundance of lessons, ideas and techniques presented in the book, I decided to share only key ideas that resonated with me and pass on the rest, since all ideas and theories are too much for one post. Depending on feedback, maybe I will write second continuation review (lesson learned) post. So, here we go.


1. Definition of strategy
Nowadays almost everyone needs a strategy. Governments, corporations, sports teams, startups and even individuals need a strategy for reaching their goals. Having no strategy can be deemed as unserious and irresponsible act. Thus whatever events, projects or objectives people have, they formulate and pursue strategies.However, notwithstanding this trend to have a strategy, there is no commonly accepted definition of strategy that can describe field and limits of this activity. Strategy is very loaded and vague term like power, politics, happiness or love. Mr. Freedman, noted one frequently used definition of strategy which is maintaining a balance between ends, ways, and means; identifying objective and using available resources in the most effective way possible to reach the objective. In plain English, I started to think of strategy as 1) goal setting, 2) analyzing environment conditions and my resources, 3) choosing most effect method to reach my set goal, 4) taking action and course correcting along the way depending on results.


2. Strategy is not a plan
Many people, including me in recent past, think of strategy and plan as the same thing. I used to think that, formulating strategy and plan are very similar activities, so these words are synonyms and stand for the same activity. However, there is a considerable difference between strategy and plan. Subtle factors that differentiate strategy from plan are conflict and controllable environment. In whatever situation where you will face a conflict of interests and compete for the same objectives with other actors, you formulate a strategy. In contrast, if you decide to bake a cake this weekend in your kitchen and no one will hinder you, then you come up with a plan and bake the cake. You choose what kind of cake you want, find money for it, buy ingredients from a store and you bake it. In contrast to this, a strategy is formulated to reach an objective in future which is not so easily achievable, while you know approximately what kind of a day will be this weekend; accordingly you control your weekend and plan baking delicious cake.


3. Strategy is both, science and art
Strategy is a realm between science and art, but it is neither complete science nor art. Throughout the book, you will learn about various strategy intellectuals and practitioners’ (Clausewitz, Machiavelli, Corbet, Porter etc.) attempts to formulate theories that can help to reach set objectives. Nevertheless, all given theories have limits and cannot give predictable results every time. Yet, despite this, one may consider strategy as a science, even if it has only few well established theories. In addition to this, strategy takes ideas from history, psychology, economy, logistics, geography and other sciences, therefore it is considered as a science. What makes strategy an art? Creativity and improvisation on given situation make it a form of art. There is no checklist of activities that guarantee reaching set objectives. Every situation is unique, as a result, a person is required to be creative and improvise in all situations to reach set goals. Predictable strategy is not a strategy, since other actors will know your actions and prevent you from reaching your set objectives. Since you cannot use same trick twice, as you become predictable, you are forced to improvise and create new ways of competing and reaching your goals every time.


4. You will work with incomplete information and simple plans all the time
Right from start of conceiving your strategy, till reaching certain goal, you will face a “fog of war” and “friction” as Carl von Clausewitz wrote. Our environment and the world in general are too complex to comprehend and predict. We have limited cognitive scope, thus we cannot have complete information about situation and intentions of other actors. Consequently, it is preferable to choose few decisive factors for analysis and ignore the rest. Few key factors and actors should be enough for making good enough decisions. Moreover, all plans should be as simple as possible, plans that have too many details and moving parts are more likely to fail and give no results. In view of limited resources, reaching zero or negative results is really bad.


5. Social, interpersonal and persuasion skills are essential for strategy
While reading the book, you may notice frequent use of the word persuasion at describing situations and people’s actions. In order to reach objectives, one needs to sell out his/her ideas to others, induce key actors to help or take actions for reaching the objectives of the actor who presented these ideas. Whether it is Moses, Pericles, Odysseus, Lawrence, or Mao, all of these actors used social, interpersonal, debating and persuasion skills for spreading their ideas, gaining followers, changing minds of people, making people take actions to reach (commonly) set objectives. If you do not have good social skills, a charisma (I think a person either has it or does not have it) and persuasion skills, it will be very difficult to realize your strategy. If you have all these skills, then it will be much easier to make friends, influence on other people and form coalitions to reach your goals. Cooperation and coalitions will ease your work a lot and increase your chance to reach your goals.


6. Narratives play important role at formulating strategy
In last parts of the book, Mr. Freedman presented studies demonstrating crucial role of narratives and stories at realizing strategy. On a grand scale, narratives and stories play key role at persuading masses and changing their minds about certain issues. In one form, narratives can be considered as information campaigns that polarize people and make them take sides regarding certain issues. This is a huge soft power for manipulating masses. This idea of narratives and stories sound sly and unethical; however people are persuaded by stories and believe in them. Stories can be used in both positive and negative ways. One can use it to unite and motivate teams for reaching goals or it can be used to direct people’s opinions to certain idea. In any case, I was moved by this idea, this lesson made me to pay more attention to news and stories portrayed in the media and my own beliefs. I started to question my own beliefs and assumptions about various events and the world. My thinking is shaped by my own internal story that I tell myself, I guess it is worth to spend time thinking about one’s own internal dialogue.


7. People are not always rational, thus predictable actors
According to economic theories, people are rational and predictable actors. They are motivated by self-interest and try to increase their benefits. This is an ideal and complete depiction of people who are economic agents who pursue only their own interests. Sociology and Psychology demonstrate the opposite of this theory, in particular, game theory cases noted in the book, showed that people are not mathematically precise enough at pursuing their interests. In some cases, such as chicken game, when two drivers drive against each other, actors are completely irrational. A person who will swerve first will be perceived as coward. Thus, from such calculation, end result of chicken game may end fatal for all drivers who will take part in this game. Now imagine such situation with governments that have nuclear weapons. Consequences of nuclear explosion are indescribable in my opinion. State officials that know the consequences of nuclear bomb explosion avoid using this weapon at all costs. On the other hand, game theoretic situations, like case of chicken game are too complex and terrifying to think about. You never cannot predict other actors’ actions, because they are not like you, they are different people with different culture, values and beliefs.


8. Actors use methods that work, not methods that comply with ethics
Few cases that came in the book led me to think that, at certain point to reach set objective, a person may be forced to make compromise with his/her moral standards. For instance, case of chimpanzees and ants show how these species use various violent methods for reaching their objectives. These studies showed that ultimately, all goals were about survival, having access to more resources and opportunities for better future. Chimpanzees used slyness, coalition and methodical use of aggression for reaching their goals. Abundance of resources did not stop them. Ants, on the other hand, were/are completely unkind to their neighbors for having more resources and territory. Similar condition also was given in Athens versus Sparta conflict, especially The Melian dialogue about statements of the strong and condition of the weak demonstrate that notions like of justice, equality are artificial matters (unfortunately), but one always has an option to act based on high ethical standards. The work of Niccolo Machiavelli, “The Prince,” infamously appeals to be cunning, and use any means including amoral actions for keeping power. Interesting part is that, actors often use methods that work, not methods that comply with ethics. I have limited knowledge on ethics, therefore decided not to touch this delicate topic at all. It is up to every person, to act based on his/her values and beliefs.


9. It is great to have strategy, but there is no guarantee of success
Formulating strategy is important, but it is extremely difficult to reach your ultimate objectives. I was little bit disappointed to learn that most of our efforts are futile and we are almost likely will fail a lot at our endeavors to reach our goals. However, this lesson was the best I got from the book. Now I know that, strategy is important but, it does not guarantee success, notwithstanding my best efforts. In view of this experience, I am going to be careful in my actions. Strategy is not about reaching my ultimate goals; it is about reaching better conditions instead of reaching worse situation any without strategy. Strategy is not one step plan, it is a soap opera that is shifting from one stage to another one, in every stage you strive to make your best to have good condition and come close to your ultimate goal with knowledge and creativity.

Here is the book review by the author himself in Google's office:



Other article and posts about the book: The Guardian: Strategy: A History by Lawrence Freedman - review World Economic Forum: Book review - Strategy: A History The Washington Post: 'Strategy: A History' by Lawrence Freedman Financial Times: Strategy: A History, by Lawrence Freedman

Sun Tzu The Art of War War History Documentary



Sun Tzu was one of the best strategists of history, the following documentary is about him and his strategic principles. If you are not able to watch the documentary, then go to Youtube and search for "Sun Tzu - the art of war - documentary (history channel)"

The word "Strategy" is a buzzword

        Strategy the most abused word, it is a buzzword. Nowadays strategy is a miracle, solution, and panacea of almost everything. It is a popular buzzword used by everybody who wants to sound smart. Governments, armies, corporations, firms, and even individuals have strategies to reach their objectives or solve problems. For some reason, one feels smart, powerful and important when he uses this word in speech or writing. We need to come up with a strategy to solve this problem, our company’s strategy for the next year is; my strategy for winning this weekend… Whenever I come across this word, I feel mental sickness and appeal to this word; hence I try to use this word very carefully. And every time when I use it, I feel I am deceiving myself with this word as I am not reaching any goal I am setting for myself.
        Why? Why this is the case? Why I cannot reach my goals? Why this so-called “strategy” is not working? What part of “strategy formulation” process I am doing wrong? Do you ask such questions to yourself? I do. Whatever I am or you are trying to realize, our “strategies” we are failing because of some reason we do not know. We even do not comprehend what went wrong with our “strategies” and cannot find out reasons for our failures. Most of “strategies” fail at their initial process due to a wrong understanding of “strategy” formulation process. Other “strategies” fail at the realization stage due to one fact (single point of failure) that was missed during the planning process . The rest of “strategies” even do not get launched because of completely illusory perceptions of the situation and wrong understanding of the process. 
        The word “strategy” originated from the Greek language and stands for command of a leader or commander. It used to be the title of high ranking military commanders during various wars and conflicts. Strategy is associated with brilliant victories, smart moves in conflicts and sleek plans of doing amazing things. That’s why people like to call what they are doing a “strategy” Notwithstanding past failures at realizing our “strategies” every time when we decide to reach some goal, we come up with strategy. Deep inside we doubt our plans but still call it strategy. In this blog, I want to study “strategy” and share with you my discoveries. During this quest for knowledge, I will be using various sources like books, movies, and folklore that help me to learn about this process and share with you, readers of this blog.