FVS 46: The Power of Playing the Long Game
Here is your weekly For Value Sake, contributing value to your growth.
A weekly post, it contains a few articles, a book recommendation and a TED talk.
These are the most impressionable resources I consumed during the week, and share them so you can reap some value as I did.
A Quote Worth Thinking About
“Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”
— Warren Buffet
+ Read past editions of For Value Sake: 45, 2019wrap, 44, and All,
1. ARTICLES WORTH READING
personal development
I. The Power of Playing the Long Game
+”The greatest gains are found at the end of the compounding period”
+ It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
+ “If you can’t see yourself working with someone for life, don’t work with them for a day.”
+ “… the power of playing the long game. You give up something now to get more later.”
Last week, we read on choosing consistency as our only core new year resolution for 2020.
This piece is still very much in line with that recommendation.
The idea of playing the long game is simply about the concept of compound interest.
Many of us are unable to delay gratification.
We start something and want the result “now now”.
This piece highlights that the most valuable resources and relationships are built over a long period of time.
Hence, if we have the orientation of understanding that the best things happen over compounding.
We would be patient, delay gratification and invest.
Play the Long game!
wealth dev.
II. The 10 Best Personal Finance Resolutions For 2020
+ “Save $1,000 first.”
+ “If you are a dual-income family, seek to save one spouses’ entire salary.”
+ “Put money into retirement (any amount)”
Adopting all ten resolutions is almost certainly too much to ask or might not even be relevant for you.
But choose one or two specifically that will help you and you can be passionate about.
You’ll be surprised how quickly they make a difference in your outlook toward personal finance.
relationship dev.
III. When You’re In a Good Relationship, You Learn These 10 Things
+ “Misunderstandings are inevitable.”
+ “The best relationships begin with a deep trust”
+ “Sometimes you can only accept things, not fix them.”
Very solid ideas to consider in your relationship.
While this is majorly themed for romantic relationships, a lot of the points work for other types of relationships as well.
entrepreneurship
III. The next decade belongs to Africa as technology ripples through the continent
+ “Among the world’s 30 fastest-growing cities, 21 are in Africa”
+ “Twitter CEO Jack Dorsey tweeted about his plans to move to Africa in 2020”
+ “Africa is one of the biggest emerging markets in the world, offering tremendous opportunities for companies brave enough to seize them.”
We all hear, “Africa Rising”.
This opinion post goes into a bit more detail on why Africa is the next big thing.
2. VIDEO WORTH WATCHING (a TED Table talk)
+ Start With Why — Simon Sinek
I was speaking with my team yesterday and remembered this idea.
Grounding all the things that you do on a “WHY”.
The biggest and strongest institutions start with a strong sense of mission, or a compelling vision.
This drives the people in those institutions to go over and beyond.
Ask yourself this question: “What is your WHY?”
3. WHAT IM READING
+ Range: Why Generalists Triumph in a Specialized World — David Epstein
TL;DR
Don’t always overspecialize.
Rather focus on skills that are transferrable from one career to another.
Provocative, rigorous, and engrossing, Range makes a compelling case for actively cultivating inefficiency. Failing a test is the best way to learn. Frequent quitters end up with the most fulfilling careers. The most impactful inventors cross domains rather than deepening their knowledge in a single area. As experts silo themselves further while computers master more of the skills once reserved for highly focused humans, people who think broadly and embrace diverse experiences and perspectives will increasingly thrive.
Get a free e-copy of Range here (epub)
Get a copy of all the books I’ve read and shared on FVS here.
Other Resources:
RECOMMENDED BOOKS — 2020
RECOMMENDED BOOKS — 2019
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Enjoy the rest of your week!
Mascot
