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Smartcuts book report

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Smartcuts book report

  1. 1. As retold by… Katie Sears
  2. 2. Technological change is exponential Meaning people are getting richer and achieving their dreams faster
  3. 3. And there’s a pattern: Innovators break convention to find better routes, like computer hackers
  4. 4. They also use LATERAL THINKING Where problems are attacked sideways and basic assumptions are questioned
  5. 5. The difference between a SHORTCUT and a SMARTCUT is that shortcuts get you rapid, short-term gains while smartcuts are sustainable successes that create value. They are ‘shortcuts with integrity’
  6. 6. HACKING THE LADDER
  7. 7. ‘The average president spent just seven years as an elected official before reaching the White House. Five were never elected to any office before becoming president.’ They did this by hacking the ladder. They ‘parlayed’ or moved forward after each small win, to reach a different ladder.
  8. 8. Ladder switching, or pivoting, makes ‘overnight success’ possible (See: Zoe Saldana, Nintendo, James Patterson, and the iPhone) Companies that pivot perform much better than others who stay on the same course. Note: paying your dues does not matter!
  9. 9. TRAINING WITH MASTERS
  10. 10. How did J-Biebs get so famous so fast?? Two music industry mentors pulled him to the top of the ladder
  11. 11. Train with successful people to achieve success faster. For example… But not just any mentor… the student and the master have to come together on their own and form personal relationships.
  12. 12. NOT TO WORRY! Don’t live near your mentor? Mentor died a long time ago? Becoming a ‘first class noticer’ can help you model your mentor and pick up the same skills from afar
  13. 13. RAPID FEEDBACK
  14. 14. Failing in business doesn’t make us better or smarter… BUT, succeeding makes us more likely to continue to succeed ‘Failure makes you wiser’ isn’t actually true
  15. 15. Interestingly… surgeons who saw their colleagues fail did better in the future, while those who saw a colleague perform successfully saw no effect on their future success. This is because when we fail, we blame it on external conditions and when we succeed we says its because internally we are
  16. 16. Bad Feedback? - high-pressure - Focuses attention on ourselves - A barrage of feedback Failure=Feedback Good feedback? - Depersonalized - Turns experiences into experiments (low pressure, low stakes) - Focuses on task, not person - Early and often!
  17. 17. PLATFORMS
  18. 18. Hackers, like David Heinemeier Hansson, find and build layers of abstraction in business and life that allow them to multiply their effort. With platforms you can search for the least wasteful way to learn something. DHH calls this ‘selective slacking’ (Aka PLATFORMS) A+
  19. 19. IN AN AGE OF PLATFORMS, CREATIVE PROBLEM SOLVING IS MORE IMPORTANT THAN COMPUTATIONAL SKILL. WE SHOULD RETHINK OUR EDUCATION SYSTEM BASED ON THE PLETHORA OF NEW PLATFORMS.
  20. 20. WAVES
  21. 21. There are 2 ways to catch a wave: 1. Exhausting hard work OR 2. Pattern recognition (placing yourself at the right place at the right time, seeking opportunity instead of waiting for it)
  22. 22. Deliberate pattern spotting can compensate for experience. A wave like… can take an amateur farther faster than an expert can swim. Online music communities EDM Electronic mail
  23. 23. THE 20% DOCTRINE Companies should always have a toe in the water, constantly tinkering with potential trends. Budget time for swimming!
  24. 24. First Movers - 47% fail - Don’t have the advantage - Miss the best technological and market opportunities - Acquire the ‘wrong’ resources It is better to be a fast follower or an early leader
  25. 25. SUPERCONNECTORS
  26. 26. “The act of making mass connections by tapping into hubs with many spokes” These superconnectors actively use their networks to help individuals reach many people at once
  27. 27. Aaron Patzer of Mint says ‘when we give and teach, we build up fan bases that become more likely to support us. Superconnectors are GIVERS: it is the smartcut for creating serendipity =
  28. 28. MOMENTUM
  29. 29. If you keep moving, you’ll be happy!! Why are billionaires so depressed? Lack of progress!
  30. 30. Investors are so sure that momentum is a powerful predictor of success, they will place huge bets on companies that are rapidly growing, even if the company is losing money
  31. 31. SIMPLICTY
  32. 32. Creativity comes easier without constraints For example: Tell me something funny (overwhelming) OR Tell me a knock-knock joke Knock-knock. Who’s there? Ach. Achoo? Bless you!
  33. 33. This is why important people like (Obama and Steve Jobs) wear the same colored suits or turtlenecks. They minimize distractions and maximize good decision
  34. 34. 10X THINKING(The art of the extremely big swing)
  35. 35. “In order to get really big improvements, you usually have to start over in one or more ways. You have to break basic assumptions.” -Astro Teller This includes… creating the first privately-made spaceship building self-driving cars creating infant incubators for $20 making augmented reality glasses To do these things, one must think radically different, use creativity, and come up with smartcuts
  36. 36. 10X better is easier than 10% better 10% 10% Better at sales and mktg, have to convince people to change their behavior for a marginal increase in value Produce huge amounts of new value, the money will find you.
  37. 37. Le End

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