FASTer - Issue #88

December 02, 2022

I have been thinking about this a lot lately. It has stayed with me to no end. Many ways to look at this.

In life and in business if you are un well, you desire to be well. When you are well you can desire many other things and do them too. But when you are un-well all you want is to get better. The 1000 things diminish and align into one.

So if you are in business and things are tricky, given the economic situation, do not be distracted, do not add more features, more gimmicks more tricks. Now is the time to only work on the health of the business. It is ok to fail, some times every thing is beyond our control. But it is far easier to fail when you are distracted and you focus on 1000 other things when you should be focusing on just one. Surviving. So survive today that you can thrive an other day.

Outcomes

The Parable of the Mexican Fisherman and the Banker

An American investment banker was taking a much-needed vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.

The investment banker was impressed by the quality of the fish and asked the Mexican how long it took to catch them. The Mexican replied, “Only a little while.” The banker then asked why he didn’t stay out longer and catch more fish?

The Mexican fisherman replied he had enough to support his family’s immediate needs.

The American then asked, “But what do you do with the rest of your time?”

The Mexican fisherman replied, “I sleep late, fish a little, play with my children, take siesta with my wife, stroll into the village each evening where I sip wine and play guitar with my amigos: I have a full and busy life, señor.”

The investment banker scoffed, “I am an Ivy League MBA, and I could help you. You could spend more time fishing and with the proceeds buy a bigger boat, and with the proceeds from the bigger boat, you could buy several boats until eventually, you would have a whole fleet of fishing boats. Instead of selling your catch to the middleman you could sell directly to the processor, eventually opening your own cannery. You could control the product, processing and distribution.”

Then he added, “Of course, you would need to leave this small coastal fishing village and move to Mexico City where you would run your growing enterprise.”

The Mexican fisherman asked, “But señor, how long will this all take?”

To which the American replied, “15–20 years.”

“But what then?” asked the Mexican.

The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You could make millions.”

“Millions, señor? Then what?”

To which the investment banker replied, “Then you would retire. You could move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

I’m amazed by how this parable, every time I read it, so accurately depicts the ‘rat race’ and everything that’s wrong with it.

The banker falls prey to the trap of the ‘rat race’, an endless, self-defeating pursuit of chasing financial wealth at the expense of the present moment. Ask your self, "are you trading your present, for a future that is un certain"?

The lessons here are far and many:

Stop Chasing What You Already Have

The banker wanted the fisherman to pursue what he already had. Doesn't that sound strange?

The fisherman’s “full and busy life” consisted of pastimes that equate to what many of us would arguably consider components of a full and happy life:

“I sleep late” = The freedom to spend our time as we wish.

“fish a little…sip wine and play guitar with my amigos” = Having time for hobbies, relaxation and spending time with friends.

“play with my children, take siesta with my wife” = Spending time with family and developing fond memories.

“stroll into the village each evening” = Living without the stress of urgency.

By only working to fulfill his and his family’s “immediate needs”, he allocated the rest of his time to live his life the way he wanted to.

So don't be distracted by every thing that is shiny or some one else's view of how life should be lived.

What’s the End-Goal? Knowing your outcome..

Did you notice that the investment banker did not say that the end-goal was financial wealth. (Yup he didn't)

The end-goal, as pictured by the banker, was the ability to spend our time as we wish with whom we wish to spend it with, just as the fisherman was doing.

Blinded as he was, even the banker knew that monetary value comes in the form of what the money can be exchanged for, not the money itself. In his case/time.

See Beyond the rat race..

The notion that we have to accumulate wealth before we can live full and happy lives is completely false. You can live it today.

Think to yourself: how many times have I passed on spending time with loved ones under the non-sensical guise of ‘working hard to spend more quality time with them in the distant future?’

Knowing what you want is equally as important as knowing why you want it and how you will get it.

One New Thing (that I learnt recently)

That the oldest English recipe for an Indian-style curry dates to 1758.

Boring Stuff that Scales

Making a budget. Be it a new business, your lifestyle. Every thing works better with a budget. Yes it is boring but it scales well. You cant fix what you cant measure, same goes for your cash spend. If you do not have a budget you can fall into traps. It works both ways, when you incomes goes up or down you can hurt your self if there is no budget in place.

No matter what stage of life or tax bracket you're in, knowing how to create and stick to a budget is a beneficial skill. But over time, many people—of all ages and incomes—fall victim to lifestyle inflation, which can quickly derail your money management.

Also referred to as "lifestyle creep," this phenomenon happens when your spending increases along with your income, sometimes so gradually you don't notice it. While getting a raise or switching to a higher-paying job is undoubtedly positive, not knowing what to do with extra income can end up straining your finances in the future.

If you're not conscious of your budget, lifestyle inflation can cause your spending to spiral out of control.

Hypothetically, let's say you make 120,000 per month in your first job. After a few years, you get a raise and are now making 220,000 per month. Because you're making a higher income, you decide it's time to replace the beater car you've driven for years with a new car. Once you get it, you feel more confident. And then, suddenly, you think your new car is perfect for that big—and expensive—road trip you've always talked about taking with your friends.

If you aren't paying close attention to your money and adjusting your budget accordingly, you may find yourself still struggling to make ends meet despite having a higher income.

Know this:

When your income goes up but your spending doesn't stay the same or go down, it's much harder to put money toward savings or extra debt payments. This can lead to financial stress in the long run.

Boost your income

It might seem counterintuitive to boost your income when a higher income is what caused your lifestyle inflation problems to begin with. However, if you're living above your means, bringing in another stream of income—even for just a little while—can help you pay down the excess debt you've acquired.

But if you do not have a budget you wont know what direction to take. So give your life direction and build a budget.

What you should be Reading & Watching

This is an odd one. I was double minded whether to share this or not. But having watched it, I felt, it would do more good than harm. Think of it, as a lesson to spot a lier, or as a great negotiator. The choice is yours, the subject is thorny.

This Video Is For Educational Purposes. It is meant to show the psychology behind how police interact with suspects to try and get their confession.

In this jcs inspired video, we take a look at the interrogation of Kimberly Kessler. After spending 25 years manipulating people and hiding from the FBI, Kimberly is finally caught and she wants to tell her story. The problem is everything that she says is a lie.

Monetize your time

By listening to this really interesting podcast on reverse engineering your way to great execution. Part Market product fit, part actual execution. The one thing this truly is, the thought that great ideas are plenty but great execution is seldom.

How folks use social media —Twitter in particular— to find inspiration for their own work. Intentionally doomscrolling Twitter to come up with writing prompts and business ideas? Why not!

They talk about finding ideas, problems, and points of tension that hint at practical business opportunities on social media.

Made in Pakistan- Too Popular

Is there some thing as being too popular? The Pakistani made, Rooh Afza seems to have won that award. In a good way.

Hamdard India welcomes ban on Amazon sale of Pakistani Rooh Afza

Made in Pakistan; so well that the competition has to get a court order to stop sales. This is perhaps the best branding one can get, effortless marketing.

More about this story here.

One Last Thing

This website surfaces interesting creators from across platforms, including YouTube, TikTok, and Etsy. So if you are low on inspiration, ideas or just generally looking for a curated experience. Go here. https://indieworld.io/