Podcast: Why and How to Build Your Own System of Asset Creation

University of East Anglia
Norwich Business School
Management Skills
and Personal Development
NBS-7031X
Lectures 5-6
15 February, 2022
Dr. Fahri Karakas
F.Karakas@uea.ac.uk

HERE IS A PUZZLE:
Which tech company has recently
announced a name change?
Tip: They will follow Google’s example (i.e.
Alphabet)
-Facebook

HERE IS A PUZZLE:
What will be the new focus of Facebook
with this name change?
Tip: They focus on a future technology.
-Metaverse

HERE IS A PUZZLE:
What is the new name of Facebook?
-Meta
-https://about.facebook.com/meta

https://medium.com/predict/the-metaverse-coming-to-you-soon-
d8063e4a5761?sk=731c918a050f230d2719732cd264d0f3

https://medium.com/predict/imagine-you-work-and-live-in-the-metaverse-
75eedefa7a7e?sk=94fbffb0d28cd8ba9d918783ddd76c60

9
 £111 Exercise
 The Power of Compounding
 Crowdfunding: Your Kickstarter Project
 Workshop: Self-Making Studio
 Turning £5 to £5000
 Star Exercise
 Thinking Critically and Questioning the System
 Weirdness Workshop – study at home
 Key Take-aways

10
https://medium.com/an-idea/do-not-trust-the-system-establish-your-own-system-
34b390fc23dc?sk=1c9451b34ef1871920d671b74aabdfb3

11
 Can we trust the global system? Can we trust capitalism? Can we trust
corporations? (The Answer is: No)
 Can we trust our educational systems? (No)
 Why is it critical to question the system and everything in it?
 How can we develop our own independence and power in a world or a
system that cannot be trusted?
 Why is personal finance the most important ingredient in achieving your
independence?
 How can you achieve financial freedom in your life?
 How can you think and act like an entrepreneur? Where do you start if you
have fresh and exciting ideas you want to bring to the world?
 Why is compounding indispensable for achieving long term success,
richness, freedom, and contribution?

Life Advice:
A Poster Guide
Why You Need To
Create Your Own
Assets

13
 You need to learn about personal finance principles and act on
them. You need to use the power of compounding.
 You need to start saving and investing early.
 Your goal should be: BUILDING ASSETS. Income always follows
assets.
 There are two ways to having assets:
 1) If you have money, buy them (invest in them).
 2) If you do not have money, create them.
◦ What can you create?
◦ An e-book, an online course, your own fashion line, a song, a lifestyle brand, an online
business, a new product or service, a YouTube channel, artwork, patents etc.

16
https://medium.com/predict/business-
landscape-is-changing-rapidly-so-should-
you-
cd9eceb7ad02?source=friends_link&sk=96a
753ce3323a8c8c7c1cffd78089c6a

https://entrepreneurshandbook.co/two-reasons-why-these-7-lines-of-code-
turned-into-a-36-billion-empire-6d2b2d1a8da2

20
https://www.nytimes.com/2021/04/21/technology/welcome-to-the-yolo-economy.html

22
• You need to develop your antifragility and preparedness for black swans.
• You need to learn to think differently by learning across disciplines,
applying mental models, and focusing on the long term.
• You need to develop new capabilities for dealing with FONKU — the fear
of not keeping up.
• You need to focus on using your own imagination every day.
• You need to take care of your brain and improve your learning habits.
• You need to forget the career ladder and start creating your own assets.
• You need to become a polymath (renaissance person) who learns and
innovates beyond borders.
• You need to make a commitment to create your own creative
assets and invest in your own creativity.
• You need to develop your inspirational capital by being curious and
passionate.
• You need to develop positive habits, systems, and assets to take control of
your own future.

Documentary – Your
Life Segments
Learning
Adventure

HERE IS A PUZZLE:
Which documentary spans over 56 years?
Tip: They shoot it every 7 years
-UP

26
The British Documentary “Up” was initiated in
1964 and interviewed children aged 7 about
their lives and dreams.
These children were tracked and interviewed
again when they were 14, 21, 28, 35, 42, 49,
and 56.
Exercise
Divide your life into 7-year segments and
draw the phases based on these years.
1-7
8-14
15-21
22-28
29-35
36-42
43-49
50-56
57-63
64-70
1.Draw the segments like a lifeline or a path.
2.Give a title to each segment.
3.What were the major life events or
milestones during these years?
4.Think of places/cities/people significant
during this segment.
5.Write down your major roles/jobs/projects
and key institutions during this segment.
6.At what junction are you at currently?
7. Where will you be heading next?
Brainstorm possibilities and write down your
dreams.

HERE IS A PUZZLE:
Which book narrates the entrepreneurial
adventures of the founder of Nike?
-Shoe Dog

HERE IS A PUZZLE:
Who is the founder of Nike?
Tip: He also wrote the book titled Shoe
Dog.
-Phil Knight

I have recently read:
Shoe Dog – Phil Knight’s (Nike) Biography
• 'A refreshingly honest reminder of what the path to business success really
looks like ... It's an amazing tale' Bill Gates
• 'The best book I read last year was Shoe Dog, by Nike's Phil Knight. Phil is a
very wise, intelligent and competitive fellow who is also a gifted storyteller'
Warren Buffett
• In 1962, fresh out of business school, Phil Knight borrowed $50 from
his father and created a company with a simple mission: import
high-quality, low-cost athletic shoes from Japan. Selling the shoes
from the boot of his Plymouth, Knight grossed $8000 in his first year.
Today, Nike's annual sales top $30 billion. In an age of start-ups, Nike
is the ne plus ultra of all start-ups, and the swoosh has become a
revolutionary, globe-spanning icon, one of the most ubiquitous and
recognisable symbols in the world today.
• But Knight, the man behind the swoosh, has always remained a
mystery. Now, for the first time, he tells his story. Candid, humble,
wry and gutsy, he begins with his crossroads moment when at 24 he
decided to start his own business. He details the many risks and
daunting setbacks that stood between him and his dream - along
with his early triumphs. A memoir rich with insight, humour and
hard-won wisdom, this book is also studded with lessons - about
building something from scratch, overcoming adversity, and
ultimately leaving your mark on the world.

Save or Earn £111 a Week
Learning Adventure

Which is better – taking $3 million in cash now, or
a single magic penny that will double in value
every day, for 31 days?
Most people will choose the $3m cash
immediately. Indeed, if you took the penny, you’ll
have only about $5,000 in 20 days.

The 3 Friends
Let’s meet Larry, Scott and Brad, and assume they share
similar circumstances.
• Larry keeps doing what he has always done.
• Scott makes some small, positive changes daily e.g. reading 10
pages, cutting 125 calories by replacing soda with water, walking an
extra 1,000 steps.
• Brad makes a few poor choices e.g. buying a big TV (to enjoy his
favourite shows), eating more dessert and adding 1 drink per week to
his new bar.
At month 10, there are no perceivable differences.
By month 25, measurable differences can be seen and by
month 31, the differences quickly become stark.
• Scott loses 33.5lbs, gets a promotion and raise, and his
marriage is thriving.
• Larry is exactly in the same space and feeling bitter
about it.
• Brad, on the other hand, puts on 33.5lbs (weighing

https://medium.com/illumination/why-you-should-read-the-passion-economy-by-
adam-davidson-a6635be2e484?sk=4534a363d010846753f92a22f4eff38c

HERE IS A PUZZLE:
Which documentary narrates the rise of
crowdfunding?
Tip: This is the first documentary about crowdfunding. It
follows the hopes/dreams as well as the fears/pitfalls of
independent creators, who reach out to the crowd to
change their lives.
-Capital C

HERE IS A PUZZLE:
Which crowdfunding platform helps bring
creative projects to life since 2009?
Tip: Creative projects received nearly $6 billion in
pledges from 20 million backers to fund 205,000
projects, such as films, music, stage shows, comics,
journalism, video games, technology, publishing, and
food-related projects.
-Kickstarter

46
 https://www.kickstarter.com/
 Kickstarter is a vibrant community of people working
together to bring new things to life.
 About Us: https://www.kickstarter.com/about?ref=nav
 A Kickstarter project does more than raise money.
It builds community around your work.
 Start your own project:
https://www.kickstarter.com/learn?ref=nav
 Sample projects:
https://www.kickstarter.com/discover/advanced?sort=pop
ularity

HERE IS A PUZZLE:
Which crowdfunding platform lets people
financially support and reward content
creators through a monthly subscription?
Podcasters, writers, YouTubers, journalists etc.
Tip: Creators can set up multiple membership tiers with
various rewards so each subscriber can choose the
amount of money they feel most comfortable giving to a
project
-Patreon

50
 https://www.patreon.com/
 “We want to help every creator in the world achieve
sustainable income.”
 Explore a range of creators:
https://www.patreon.com/explore
 https://uk.gofundme.com/
 Start a campaign (social responsibility projects etc.)
 https://www.indiegogo.com
 Indiegogo is a launchpad for entrepreneurial ideas.
 How it works: https://www.indiegogo.com/grow/how-it-
works/
 https://www.floship.com/kickstarter-alternatives-you-
should-know-about/

Your Kickstarter
Project
Learning Adventure

53
 Your big idea?
 What do you want to create?
 Something that builds on your strengths,
passion, and hobbies
 Brainstorm and jot down some potential
project ideas

HERE IS A PUZZLE:
Which company or web site turns famous
inventions into art you can buy?
Tip: They let you buy prints of famous patents to hang
on your wall.
-Retro Patents

HERE IS A PUZZLE:
Which company offers a balloon ride to the
space?
Space Perspective

Star Exercise
Learning Adventure

65
65
 Looking at the example lists I have created, create your
own lists.
 For each part, write for about 15 minutes non-stop;
with the goal of producing 30+ items.
 Think about your life, your career, and your personal
brand as you proceed.
 When you complete this exercise, it will give you a
sense of your creative and professional goals that you
want to master.

66
What are
you good
at?
What do
you love
doing?
Create a list of
30 activities or
things that
represent your
passions and
strengths

67
What are
the things
that you
want to
learn,
improve
and get
better at?
Create a list of
30 activities or
things that
represent your
areas of
learning and
development

68
What are
the specific
visions in
your life
and career
that you
would love
to see
happening?
Create a list of
30 wishes,
projects, goals,
desires, and
visions that
belong to you

Treat 2022 as the year of ASSET CREATION
Work regularly and consistently on your individual project.
Create creative assets for your future.
SEVEN I PROJECT (Kickstarter type project)
ENTREPRENEURIAL BUSINESS PROPOSAL (Shark Tank type
project)
• Think about the assets you want to
create for your future
• Do not think like a student. Do not
treat this as assignment.
• Do this for your own future.
• Do something real – create something
exciting and fresh.

Dos and Don'ts for Your Asset Creation Project:
Advice for Students

HERE IS A PUZZLE:
Which animation company has received
the highest number of Oscars?
-Pixar

HERE IS A PUZZLE:
Which book narrates the story of Pixar
Animation Studios?
Tip: This is a book about creativity in
business, i.e. hoe to build a creative
culture.
-Creativity Inc

HERE IS A PUZZLE:
Who is the main author of this book?
Creativity, Inc.: Overcoming the Unseen Forces That
Stand in the Way of True Inspiration
Tip: He is the co-founder of Pixar Animation Studios
and president of both Pixar and Walt Disney Animation
Studios. He has been honoured with five Academy
Awards
-Ed Catmull

HERE IS A PUZZLE:
Which university is the force behind London
Fashion Week?
-University of Arts London (UAL)
- 6 world class institutions, including Central St Martins

78
1. Curiosita: The Quest for Continuous Learning
2. Dimostrazione: Test Knowledge Via Practical
Experience
3. Sensazione: Constantly Sharpen the Senses
4. Sfumato: Be Comfortable With Ambiguity
5. Arte/Scienza: Balance Science & Art, Logic &
Imagination
6. Corporalita: Develop Poise: the Balance of
Body & Mind

HERE IS A PUZZLE:
Which book is this?
-How to Think like Leonardo da Vinci

HERE IS A PUZZLE:
Which is the author?
-Michael J. Gelb

How to Turn £5 to £5000
Learning Adventure

HERE IS A PUZZLE:
A man made more than $200,000 just
through drawing cat cartoons using his web
site. Which web site is this?
Tip: He was on Shark Tank
http://iwanttodrawacatforyou.com/

88
http://iwanttodrawacatforyou.com/

Mind-set: How to make 1 million a year
• You have to help a lot of people to make a lot of money.
• To make $1 million in a year, you have to help so many people that your work
generates just about $2,700 every day.
• ($1,000,000 / 365 days = $2,739.73)
• That might seem impossible, but think again.
• What if every person you helped gave you $1? You’d need to help ~2,700 people.
• If everyone you helped gave you $2…now you only need to help ~1,400 people.
• Imagine if they gave you $5….or $10! The number of people you’d need to help
would go down.
• So here’s the deal: you want to be a millionaire? You’ll need $2,740 today,
tomorrow and 363 days after that.
• How can you help many people? How can you reach people who need your help?
• Anything you want in the world can be yours, if only you’d break it down into
tiny little chunks. Daniel DePiazza

Long Term Thinking and
Productive Habits
https://benjaminhardy.com/want-
to-become-a-multi-millionaire-do-
these-15-things-immediately/
Read and reflect on how you will apply
each principle in your life.
These principles will help you
tremendously in your journey of asset
creation.

HERE IS A PUZZLE:
In which country rice farmers have started
to play Axie Infinity to make a living?
Axe Infinity is an online blockchain-based
game where players make money in tokens.
Philippines

How To Become an
Entrepreneur
Your Career as a
Start-up

HERE IS A PUZZLE:
Who wrote the book titled Entrepreneur
Revolution?
Daniel Priestley

100
 Make three calls. Pick up the phone, send emails, and arrange meetings. Begin the
conversation without knowing where it will lead you.
 Save at least 10% of your income. Set up a new bank account and put 10% into that
account. This account will calm your monkey brain and help you to feel OK about
taking risks. Do not touch this money. It will be part of your wealth for the long term.
 Stop spending time with negative people who bring you down. Make friends with
people who inspire you to achieve your best self. Spend more time having
conversations with people who bring out the best in you. Make a list of people you
currently spend time with, and decide who will stay and who will go. Remember: You
are the average of five people that you most spend time with. These people shape
your perspectives, expand your network, help you access resources, and make you
notice new opportunities.
 Carry $1,000 on you at all times. Your subconscious should be accustomed to the
idea of abundance, assets, and opportunities (instead of scarcity, austerity, and
risks).
 Do not have a lunch alone. Buy a mininum of two lunches every week for people you
do not yet know. Build a good network of people who are not customers, clients, or
old friends. Invite other entrepreneurs, business leaders, investors, artists, or people
you can learn from. Tune out from the news. Give up on TV, papers, traditional media
and news. Your time and energy are very precious — do not waste them on the news.
Use this time and energy to learn and create your assets.
 Keep a journal where you make a list of your priorities, high-value tasks, goals,
ideas, and dreams. Plan your vacations first. Work out where you want to travel,
visualize your holiday, decide on your budget and itinerary. Reverse-engineer your
work to serve the lifestyle you want to live. This will allow you to be more productive
and creative.

101
https://medium.datadriveninvestor.com/here-are-my-top-3-books-on-starting-your-
own-business-518b8bdcdc53?sk=f96e5a62bde2460cbfb3ff0a0307a3f2

109
109
Business Idea:
a concept which
delivers value -
because it meets
a need

110
A one-minute description of the Business Idea:
 What is the idea?
 What need does it solve for whom?
 Why is the idea unique?

YOUR SHARK TANK
PITCH
Adventure

112
A one-minute description of
the Business Idea:
 What is the idea?
 What need does it solve for
whom?
 Why is the idea unique?

HERE IS A PUZZLE:
He is a Turkish chef, food entertainer and
restaurateur. His real name is Nusret Gokce.
He owns a chain of luxury steak houses. The
latest one opened in London.
Tip: His technique for preparing and
seasoning meat became an Internet meme
in January 2017
-Salt Bae

HERE IS A PUZZLE:
Which company makes money by mailing
potatoes?
Tip: They were on Shark Tank
-Potato Parcel

119
“The Eye-Opening Pessimist Workshop”
Study@home
 Why You Need to Question Everything
 How to Think Critically and Question the System
 Charlie Brooker’s Genius: Black Mirror

HERE IS A PUZZLE:
Which book is the most comprehensive
book on power?
Tip: The book explains tens of laws of power
using historical examples. These laws
reflect the dark side of human nature.
Law 1: Never outshine the master
-The 48 Rules of Power

HERE IS A PUZZLE:
Who wrote this book?
Tip: He also wrote:
-The Art of Seduction,
-The 33 Strategies of War,
- The 50th Law (with rapper 50 Cent),
- Mastery,
- The Laws of Human Nature.
-Robert Greene

ROBERT GREENE’S BOOK ON TERRIBLE RULES OF POWER

AWARD WINNING
DOCUMENTARIES
Self-guided Documentary
WORKSHOP
– please complete at home

HERE IS A PUZZLE:
According to which documentary, the
corporation is a psychopath?
This award-winning documentary asks this
question: What type of a person is ‘the
corporation’?
-The Corporation

PRECARITY: A SAVAGE JOURNEY TO THE HEART OF EMBODIED CAPITALISM
BY VASSILIS TSIANOS / DIMITRIS PAPADOPOULOS
• PRECARIOUS LIFE CONDITIONS ARE EXPERIENCED BY THE SINGULAR
LABOURER TODAY.
THE EMBODIED EXPERIENCE OF PRECARITY IS CHARACTERISED BY:
• (A) VULNERABILITY: THE STEADILY EXPERIENCE OF FLEXIBILITY WITHOUT ANY
FORM OF PROTECTION;
• (B) HYPERACTIVITY: THE IMPERATIVE TO ACCOMMODATE CONSTANT AVAILABILITY;
• (C) SIMULTANEITY: THE ABILITY TO HANDLE AT THE SAME THE DIFFERENT TEMPI
AND VELOCITIES OF MULTIPLE ACTIVITIES;
• (D) RECOMBINATION: THE CROSSINGS BETWEEN VARIOUS NETWORKS, SOCIAL
SPACES, AND AVAILABLE RESOURCES;
• (E) POST-SEXUALITY: THE OTHER AS DILDO;
• (F) FLUID INTIMACIES: THE BODILY PRODUCTION OF INDETERMINATE GENDER
RELATIONS;
• (G) RESTLESSNESS: BEING EXPOSED TO AND TRYING TO COPE WITH THE
OVERABUNDANCE OF COMMUNICATION, COOPERATION AND INTERACTIVITY;
• (H) UNSETTLEDNESS: THE CONTINUOUS EXPERIENCE OF MOBILITY ACROSS
DIFFERENT SPACES AND TIME LINES;
• (I) AFFECTIVE EXHAUSTION: EMOTIONAL EXPLOITATION, OR, EMOTION AS AN
IMPORTANT ELEMENT FOR THE CONTROL OF EMPLOYABILITY AND MULTIPLE
DEPENDENCIES;
• (J) CUNNING: ABLE TO BE DECEITFUL, PERSISTENT, OPPORTUNISTIC, A
TRICKSTER.
128

CRUEL OPTIMISM
• A RELATION OF CRUEL OPTIMISM EXISTS WHEN SOMETHING YOU DESIRE IS
ACTUALLY AN OBSTACLE TO YOUR FLOURISHING.
• OFFERING BOLD NEW WAYS OF CONCEIVING THE PRESENT, LAUREN BERLANT
DESCRIBES THE CRUEL OPTIMISM THAT HAS PREVAILED SINCE THE 1980S, AS
THE SOCIAL-DEMOCRATIC PROMISE OF THE POSTWAR PERIOD IN THE UNITED
STATES AND EUROPE HAS RETRACTED.
• PEOPLE HAVE REMAINED ATTACHED TO UNACHIEVABLE FANTASIES OF THE
GOOD LIFE —WITH ITS PROMISES OF UPWARD MOBILITY, JOB SECURITY,
POLITICAL AND SOCIAL EQUALITY, AND DURABLE INTIMACY —DESPITE
EVIDENCE THAT LIBERAL-CAPITALIST SOCIETIES CAN NO LONGER BE
COUNTED ON TO PROVIDE OPPORTUNITIES FOR INDIVIDUALS TO MAKE THEIR
LIVES “ADD UP TO SOMETHING.”
• ARGUING THAT THE HISTORICAL PRESENT IS PERCEIVED AFFECTIVELY
BEFORE IT IS UNDERSTOOD IN ANY OTHER WAY, BERLANT TRACES AFFECTIVE
AND AESTHETIC RESPONSES TO THE DRAMAS OF ADJUSTMENT THAT UNFOLD
AMID TALKS OF PRECARITY, CONTINGENCY, AND CRISIS.
• SHE SUGGESTS THAT OUR STRETCHED-OUT PRESENT IS CHARACTERIZED BY
NEW MODES OF TEMPORALITY, AND SHE EXPLAINS WHY TRAUMA THEORY—
WITH ITS FOCUS ON REACTIONS TO THE EXCEPTIONAL EVENT THAT SHATTERS
THE ORDINARY—IS NOT USEFUL FOR UNDERSTANDING THE WAYS THAT
PEOPLE ADJUST OVER TIME, ONCE CRISIS ITSELF HAS BECOME ORDINARY.
• CRUEL OPTIMISM IS A REMARKABLE AFFECTIVE HISTORY OF THE PRESENT.
129

140
 https://www.youtube.com/watch?v=GfO-3Oir-
qM&list=PLvahqwMqN4M0GRkZY8WkLZMb6Z-W7qbLA

142
 http://unitedexplanations.org/english/2013/07/23/75-
documentaries-that-will-change-how-you-see-the-world/

143
https://medium.com/journal-of-
curiosity-imagination-and-
inspiration/we-will-face-a-full-blown-
international-economic-crisis-soon-
here-is-how-you-prepare-for-it-
c5d93ef2fac6?source=friends_link&sk=
48fcabf7f82c32e714f4a7d52cea75d8
– please read at home
I wrote this article in 2019, well
before the economic crisis

145
 https://medium.com/@fahrikarakas/how-to-keep-calm-and-be-creative-when-the-world-is-upside-
down-f65cc72af4e3?source=friends_link&sk=325b769ffc91232c5695b44d001bbe27

148
EPILOGUE
Charlie
Brooker’s Black
Mirror and The
Perfect Storm of
Technology

157
Inspirational Career of the
Week:
Charlie Brooker
• The genius behind the Black Mirror
• He is the creator of Screen Wipe
• He has a hilarious mini-
documentary series called “How
TV Ruined Your Life!

159
 You cannot trust and leave your well-being and career
to institutions (corporations in particular).
 There is a dark side to human nature and we need to
be aware of it.
 How you can stay positive and hopeful amidst all
negativity is one of the greatest skills that you can have
in your life.
 Be yourself, be weird and be proud of it. Celebrate
what makes you weird. Do not conform to
expectations of others. Invest into your unique
strengths, passions, and obsessions.

160
 We live in the era of crowdfunding – use it to bring your
fresh and creative ideas to life.
 Your small everyday habits RIGHT NOW shape and
determine the quality of life you will have in the long
term. Habits compound over time. That is why you
need to develop positive habits and improve yourself
and aspire to new heights of performance and learning
every day.
 Develop a positive system of productivity, creativity, and
well-being that works for you. It is your job to develop
this and design your life.

162
 Read & Finish Journeys in the book: Self-Making Studio
 Review lecture and seminar materials
◦ It is your responsibility to learn module skills/knowledge and make
them useful for yourself and your career
 Keep a diary to document your learning, progress, and reflections during each week
 Document/gather evidence on your personal development, learning, and skill development to
make progress on your portfolio
 Work on your job application portfolio and finish it
 Develop your lecture evidence
 Start working on your chosen seminar activities
 Do 2 of the creative challenges/imagination
experiments you have chosen

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