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- FASTer - Issue #80
FASTer - Issue #80
It's weighing down on me.. 80 issues. Didn't really think I'd be able to make the time. But that is my own mistake. The thing about time is, you always have it, how you decide to use it or loose it depends on the outcomes you seek. My outcomes or mission if you were was to make sure I put out content that I wish I could have read. It's that simple. Plus I was bored when I started, this continues to provide me some hours of methodical reading and thinking. You always make the time for the things that are important to you(self growth is key for me). Same goes for people and relationships. Time and priorities are inter linked but we seldom see the connection.
Modern society places an incredible value on being productive. By successfully completing the tasks they set to accomplish, people are able to demonstrate their competence to themselves and others . In this regard, reducing the time it takes to complete tasks is a key factor to increase productivity. Productive people use their time in an effective manner so they are able to complete more tasks than those who are less productive. As the number of tasks increases, however, people become busier, which may have negative consequences for productivity. But not always, I read a fantastic study which whilst seemingly counter intuitive shows how people can and do harness the power of being busy.
This research tests the hypothesis that being busy increases motivation and reduces the time it takes to complete tasks for which people miss a deadline. This effect occurs because busy people tend to perceive that they are using their time effectively, which mitigates the sense of failure people have when they miss a task deadline. Studies 1 and 2(within the linked research above) show that when people are busy, they are more motivated to complete a task after missing a deadline than those who are not busy, and that the perception that one is using time effectively mediates this effect. Studies 3 and 4 (within the linked research above) show that this process makes busy people more likely to complete real tasks than people who are not busy. Study 5 uses data from over half a million tasks submitted by thousands of users of a task management software application to show that busy people take less time to complete a task after they miss a deadline for completing it. So go find the right busy, so that you can get better at your outcomes.
Outcomes
I read some thing incredible that I want to share. A twitter thread around narcissistic parents. But isn't that an oxymoron? aren't parents there to provide love & care selflessly? Thats not the case most times. How? Well in their desire to enhance their children's outcomes parents make relationships transactional. That makes those children input - output oriented.
We have to move relationships in business and in life to having an environment where people thrive for who they are vs what they do.
Being raised by a narcissistic parent (NP) creates an environment where you believe you’ll only be loved for what you do, not who you are...
Here’s why (🧵)
— Dr. Nicole LePera (@Theholisticpsyc)
4:48 PM • Oct 2, 2022
One New Thing (that I learnt recently)
the Russian army only started to issue socks in 2013. They used a portyanki, a foot wrap for the past 300 years
Portyanki, the squares of cloth (cotton for summer, flannel for winter) in which Russian soldiers have wrapped their feet since the days of Peter the Great, have lost their last and greatest battle – against socks.
When US troops met the Red Army at the river Elbe before the final push on Berlin in April 1945, American GIs were astonished to see their formidable Soviet counterparts wearing rags under their boots.
In fact, the cloths – common everywhere before the industrial revolution – were eminently practical: far cheaper to make than socks, quicker and easier to wash, dry and mend, and (providing they were properly bound) fit for purpose. They allowed Russia's hard-pressed factories not to be distracted by making socks, and soldiers in the field to improvise replacements if need be.
They did, though, need to be worn correctly. Oleg Dimitriev, a Russia Today journalist who spent two years – or, as he puts it, "695 days" – in portyanki on military service, writes that they could be torture until you got the technique right.
"The most crucial aspect is that one can only wear portyanki that are wrapped tightly," Dimitriev says. "If the soldier doesn't follow the procedure exactly, he could hurt his feet and get painful blisters."
Boring Stuff that Scales
Domino’s core product isn't pizza.
Crumbl's core product isn't cookies.
Chick-Fil-A's core product isn't chicken.
They've all become billion dollar brands by selling the same thing:
BUSINESS AS A SERVICE.
Every famous brick & mortar business started with just 1 location.
So how did Chick-Fil-A, Domino's, & others grow to the thousands of locations they have today?
Hint: it's not because of how good their chicken or pizza is.
Then what is it?
It's because of their Business-as-a-Service offering.
In exchange for training others on how to:
• Find real estate
• Run local marketing
• Hire + train employees
• Build locations & cook the food
They collect ~6% of revenue from each owner that buys the BaaS package
Domino’s core product isn't pizza.
Crumbl's core product isn't cookies.
Chick-Fil-A's core product isn't chicken.They've all become billion dollar brands by selling the same thing:
BUSINESS AS A SERVICE.
Here's what it is:
— The Wolf of Franchises 🍟 (@franchisewolf)
12:30 PM • Oct 2, 2022
So the moral of the story is, build offline scale using online. Do one thing so well, that there is a market to teach others on how to do it. It's revenue in perpetuity. Not every thing that can be done should be done by you. Find the parts you are good at, build a successful business in any realm then package it, license it, rent it as a service.
Arguably boring, not ground breaking but highly scalable once you get it right.
TLDR - BaaS:
Is the true product franchises sell
Can be scaled quicker than the concept itself
Enables local business owners to build unicorns
What you should be Reading
The following, over and over and over again to your self.(Don't recall where I bookmarked this from)
Professionals:
Show up daily
Accept responsibility
Make everyone better
Focus on the best outcome
Amateurs:
Show up inconsistently
Blame others
Tear others down
Focus on being right
Most people are amateurs.
Focus on being a professional.
Monetize your time
By spending time looking at places where you can get your side hustle going. There are many more. But here is your starting position.Will you prioritize this over Netflix this weekend?
@Jooble_Jobs writing, graphic design, data entry
@fiverr digital marketing, web development, social media
@toptal software development, financial consulting, interim management
@SimplyHired human resources, finance, data entry
@Upwork brand marketing, programming, website design
@freelancer content translation, web development, social media marketing
@flexjobs writing, content marketing, transcription
@ServiceScapeInc academic writing, document translation, manuscript editing
@Behance illustration, photography, web design
@GuruFreelancing marketing, programming, administration
Made in Pakistan
Pakistan Gum and Chemicals Limited (Pakchem) was established in 1963 as a joint venture with Stein Hall of USA. Since 1963, they have served the Global Guar Market with our premium products, continuous growth and innovation with sustainability and created value for our global customers.
Fascinating the things we have built that no one knows about that continue to be market leaders, quietly chugging away.
Total numbers for guar from Pakistan as in industry for 2021 were
One Last Thing
Audience vs Community. Most creators & online builders get it wrong. I read some thing that clearly defined it. It helped me. I think it will help you too.
The chair test....
At a concert, all the chairs face the stage. That’s an audience.
But at a community center/workshop/group meeting the chairs face each other. That’s a community.
Understand the difference and monetize your actions and outcomes better.