The Weekly Minute - April 28, 2023
Another beautiful week of learning; I wanted to share a few things I learned, read and watched. Really insightful learnings in the world of business, leadership and mindset.
What I Read
Do You Know What’s Going on Below? (via Roger Martin)
Shared in this article are two cautionary tales about organizational dynamics. In the first tale, Roger discusses the challenges of understanding what is happening within a large organization. During his tenure, he expanded the MBA program and planned to assign study group-exclusive rooms in a new building. However, due to competing demands for space, the number of study group rooms was cut, and the student experience was compromised — all while he had let his team figure this out unbeknownst to him.
In the second tale, Roger highlights the issue of corporate procurement and how it can undermine company strategies without senior executives being aware.
The author concludes by advising senior executives to penetrate deeper into their organizations and be vigilant for unexpected signals or anomalies. He emphasizes the need to adhere to the Golden Rule, treating others as one would like to be treated, and to address problematic practices to prevent the deterioration of the company's values.
A Total Addressable Market (TAM) Masterclass (via Lightspeed)
This is a great breakdown on the concept of Total Addressable Market (TAM) and its importance in assessing the potential of a company. TAM refers to the total revenue opportunity available in a specific market. This author explains that the perceived market size depends on the fund's size and return expectations, with larger funds requiring larger market opportunities. The passage also touches on different frameworks for calculating TAM and emphasizes the need for founders to understand the market they are targeting. Finally, the passage mentions a few successful companies that have effectively expanded their TAM through product diversification, highlighting the importance of a long-term strategy for growth.
The Time Billionaire: A Concept That Changed My Life (via Sahil Bloom)
The concept of the "Time Billionaire" is introduced in a conversation between Graham Duncan and Tim Ferriss - but written about by Sahil Bloom in this article. This concept emphasizes the importance of time as our most valuable asset. Duncan suggests that we often fail to recognize ourselves as time billionaires, with billions of seconds left in our lives, and that we should be more aware of the precious nature of time. The idea is further explored through the concept of a "Life Calendar" that visualizes the passing of time and serves as a reminder of its limited nature. Key lessons include cherishing moments with loved ones, embracing solitude, and finding joy in everyday experiences. Here, Sahil encourages us to prioritize and cherish every moment, to be present in the present, and to view time as their ultimate currency.
A Must Watch
Incredible perspective from Giannis on failure vs. steps to success. This was just after his No. 1 seed Bucks we’re upset in the first round.
“There’s no failure in sports. There’s good days, bad days, some days you are able to be successful, some days you are not, some days it is your turn, some days it’s not. That’s what sports is about. You don’t always win.”
“There’s no failure in sports. There’s good days, bad days, some days you are able to be successful, some days you are not, some days it is your turn, some days it’s not. That’s what sports is about. You don’t always win.”
— NBA (@NBA) April 27, 2023
Giannis comments on “failure” pic.twitter.com/QxqkuSMP7b
One Quote
On focus: “If you say no to a thing, then you’re saying no to one thing. If you say yes to a thing, you actually say no to every other thing during that period of time.”
Interesting Video on Organization Effectiveness
Super Chickens! Organizations are often run according to "the super chicken model," where the value is placed on star employees who outperform others. And yet, this isn't what drives the most high-achieving teams. Business leader Margaret Heffernan observes that it is social cohesion — built every coffee break, every time one team member asks another for help — that leads over time to great results. It's a radical rethink of what drives us to do our best work, and what it means to be a leader. Because as Heffernan points out: "Companies don't have ideas. Only people do."
“Time is what brings value”
Hat tip to my boss for showing me this vid. :)
