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- FASTer - Issue #103
FASTer - Issue #103
Every morning is a chance to start again. Don't waste it on yesterday's mistakes.Welcome every morning with a smile. Look on the new day as another special gift from your Creator, another golden opportunity to complete what you were unable to finish yesterday. Be a self-starter. Let your first hour set the theme of success and positive action that is certain to echo through your entire day. Today will never happen again. Don't waste it with a false start or no start at all. You were not born to fail.
Forward Looking vs Regret Based (Life)
I firmly believe in the importance of a forward-looking approach to decision-making. By focusing on the potential benefits of a decision, rather than the potential downsides, we can make informed choices that create value and drive growth.
Forward-looking decision-making involves anticipating the future and making decisions based on the potential outcomes. It's about assessing risks and opportunities and taking calculated risks that will create long-term value. For example, investing in new technologies, expanding into new markets, or launching innovative products may involve some degree of risk, but they can generate significant returns in the future.
The key to successful forward-looking decision-making is to approach it with a growth mindset. Instead of focusing on the limitations and obstacles, we should focus on the potential opportunities and solutions. This requires a willingness to take risks and embrace change, as well as a commitment to continuous learning and improvement.
In my experience, a forward-looking approach to decision-making is essential for building successful and sustainable businesses. It allows us to seize opportunities, adapt to changes in the market, and stay ahead of the competition. By focusing on the potential benefits of a decision, we can create value and drive growth, while minimizing the risk of regret.
Regret-based decision-making should be avoided because it often leads to missed opportunities and a life filled with regret. When we focus too much on the potential negative outcomes of a decision, we become risk-averse and avoid taking chances that could lead to positive outcomes. This can prevent us from achieving our goals and reaching our full potential.
Additionally, regret-based decision-making can lead to a life of mediocrity. By sticking with the familiar and avoiding risks, we may never experience the thrill of taking a chance and achieving something great. We may never discover our true passions and talents, and we may never reach our full potential.
Furthermore, regret-based decision-making can lead to a lifetime of wondering "what if" and regretting missed opportunities. Focusing too much on potential downsides can prevent us from taking action and pursuing our dreams, leaving us with a sense of unfulfilled potential.
Outcomes
Outcomes are dependent on shipping and not perfection. Build it, ship it. Don't sit back and think too much about perfection or think about conforming to pre established ideas and thoughts. Sometimes your eventual outcomes may not be what you intended it to be. Here is a story that caught my attention that solidifies the belief that shipping is better than perfection any day. For you to take control of your outcomes, you need to focus on shipping faster, shipping frequently and shipping without regret.
I was wondering why bitters bottles always have these jacked up old fashioned labels on em.
Turns out the brothers behind this brand were entering their recipe in a contest like a hundred years ago. One brother worked on the bottle and the other the label.
At game time they… twitter.com/i/web/status/1…
— Colin Landforce 🛠,🛠 (@landforce)
9:23 PM • Feb 25, 2023
One New Thing (That I didn't Know)
The US Postal Service ships day old baby chicks in the mail.The United States Postal Service has been shipping chicks through the mail since 1918 and, until last summer, there’s only ever been a small contingent of people speaking out against it. Generally speaking, people either don’t know that hundreds of thousands of chicks are shipped every year to farms and individuals through the USPS or they’re the ones ordering them.
Boring Stuff That Scales
The Terrible Banker
Mark started his career as an intern at Barclays. His mentor there told him he was going to make a terrible banker. So he studied the firm's clients and found a career path in venture capital. How he did this was by focusing one boring area. The goal of the company was simple: Become the best buyer of Vertical Software businesses in the world. This is his story
This guy acquires companies for breakfast, lunch, and dinner.
But never sells them.
The coolest software billionaire you've never heard of 🧵
— Luke Sophinos (@lukesophinos)
1:45 PM • Mar 14, 2023
What You Should Be Watching
In the face of a century of traditional polling to predict public opinion, there is a shakeup afoot in the prediction game. Margin of Error: AI, Polling and Elections examines how a startup called Advanced Symbolics (ASI) uses artificial intelligence (AI) and public social-media data to forecast voter behavior.
But the promise of new technology also comes with questions about its accuracy, the threat to citizens’ privacy and our democracy itself. Every one of us volunteers a huge amount of private data with virtually every Internet service we use, without reading or understanding the terms of service.
This data can now be harvested by AI to accurately predict among many other things, how we will vote. Even without surrendering personal information, the new AI algorithm Polly, developed by ASI, combs social media to build profiles of different demographics and determines their preferences.This method has already led to Polly’s success in predicting both the 2016 Trump victory and Brexit.
With the 2019 Canadian federal election campaign as a real time back drop, Margin of Error puts Polly to the test revealing how an AI doesn’t just give a detailed picture of the publics voting intentions, but also how specific events can alter them. But will knowing what our hopes and concerns are, give politicians the intel they need to respond to our needs, and lead to a “utopian” society, as ASI’s CEO Erin Kelly claims, or can this data be misused to mislead us – either by our own governments, or those of our adversaries? And should politicians even be responding to our desires, as expressed through social media?
Monetize Your Time
By investing it in things that have a net positive outcome. Walks, taking a nap, self care, speaking to a friend. In our search for building the perfect future, we forget the perfect present. Monetization can only happen when your mind body, soul and health is on point. A healthy man wants a thousand things, a sick man only wants one.
So being healthy is the first piece on your journey to monetization. Do things that make you happy so you can do things that can make you money.
When we're sick, our focus shifts to just getting better, and all other wants and desires take a back seat. This is why it's crucial for individuals to prioritize self-care and take care of their health.
From a business perspective, it can be tempting to monetize every second of our time. However, this is not always feasible, especially when we're sick. If we're unwell, our productivity levels decrease, and it's challenging to focus on anything else other than getting better. Therefore, investing in self-care and prioritizing our health is a critical aspect of monetizing our time. By taking care of ourselves, we ensure that we're better equipped to tackle our daily tasks and perform at our best.
Self-care can take many forms, from getting enough sleep to eating healthy and exercising regularly. It's essential to carve out time for ourselves and focus on activities that bring us joy and help us unwind. This could include reading a book, taking a relaxing bath, or practicing mindfulness.
Taking care of our health should be a top priority, even from a business perspective. While it may seem counterintuitive to invest time in self-care, it's crucial for ensuring long-term productivity and success. By taking care of ourselves, we can perform at our best and achieve our goals. So, don't forget to prioritize your health and well-being – it's the key to true monetization of your time.
Poll Time..Your Feedback Matters
One Last Thing
Restaurants & Subscriptions..Move Over Netflix
Are you looking for a way to enhance your monthly subscription experience? How about treating yourself to some takeout from your favorite restaurant? According to the Associated Press, restaurants are jumping on the subscription model trend, as the average American now has 6.7 subscriptions - up from 4.2 in 2019.
This growing trend comes with a hefty price tag, as a recent report reveals that Americans spend an average of $200+ per month on subscription fees alone. So why not make the most of your subscription services and indulge in some delicious takeout? That was restaurants in the US are doing.
So restaurants are serving up plans:
PF Chang’s Platinum subscription is $6.99/mo. and includes free delivery, priority reservations, and other perks.
Panera’s Unlimited Sip Club is $11.99/mo. (or $119.99/yr.) for unlimited hot and cold drinks — plus, annual subscribers get free delivery.
Pret A Manger launched a coffee subscription in 2020 that is now used 1.2m times per week.
I read this restaurant subs biz thread and had to share. I am a huge fan of building subscription based businesses. Here are some ways to think about it.
What could u make /develop that is priced between 100&200 PKR and people would need either weekly or monthly that u could build a subscription model around? Think of addressable market as a 100k people to kick off and think of scale as 50m people nation wide over time@ 20% margin
— Faizan Siddiqi (@faizansiddiqi)
4:10 AM • Dec 5, 2019
What did Mark Twain and @netflix have in common. Subscriptions. The point of the subscription system was to sell a book before it was published. It was MT's policy, in fact, not to publish a work until 40,000 copies had been sold.
— Faizan Siddiqi (@faizansiddiqi)
5:40 PM • Oct 25, 2020
Bonus! Low CapEx Biz That You Can Build
Low(er) capital product & service businesses worth exploring
1) BBQ grill/smoker rental by the hour with supplies
2) Full service meal prep(ppl drop off their ingredients or pay for them) you assemble/deliver
3)Customized urban roof/garden as a service. Setup fee + rental/sqft— Faizan Siddiqi (@faizansiddiqi)
2:26 AM • Jan 26, 2021