Ray Dalio: " Raising the probability of being right is valuable no matter what your probability of being right already is."
This made me think deeper...🤔🤯
I learned the hard way that making additional questions in the decision process can indeed increase the odds considerably:
- do I need to decide now: can I connect the 'lines' instead of the 'dots': power of longer observation...
-what's my cost of opportunity? Is there a third way?
- do I need / do I wan't ? If so, WHY rationally/emotionally I want to consider this...
- whom in my network has additional expertise/experience can provide me with a mirror...
Offcourse not for minor decisions but for major decisions affecting time horizon/allocation and risk (monetary and last but not least emotionally)
I learned about decision heuristics to make shortcut decisions and there is nothing wrong with that...but you have to be AWARE of them... I learned as a real estate investor and angel investor about calculated spread sheet investments...in a world of imperfect/biased assymetric information (gutt feeling needed) : the real magic happens when you have to put everything together to improve indeed the odds/dots... There is no such thing as THE opportunity. And once I take the decision I don't look back and make the best of it... Amen🙂😇💭🤔💭💭💭
Qoorio-ers what do you think ...?
Are you the one in control?
A few years ago I use to listen to Tom Bilyeu on my way to the gym every second morning at 5:30 A.M
I thought I was motivating myself for my 5k run on the treadmill but without knowing it, I was doing more than that.
It helped me to build a resilience for discomfort and to embrace it as the only way to grow.
My every second morning routine turned into a 6 days a week morning routine. I met a bunch of like minded people that constantly push me to find new limits I was not aware of!
I've no doubts my sport discipline also got my business mind 10x sharper. Can't wait to meet the crew tomorrow morning and kick off another week of discomfort and growth :muscle:
I still get a kick every time I listen to it! Thanks for the Impact Tom!
#inittowinit #growth #discomfort #motivating
Justas of Qoorio asked me:
"Thomas, what's your story of becoming an angel tech investor ?"
"The totally different and new network of founders and co-investors and the continuous learnings and new insights that break you outside of your social bubble"
Very Qoorious ☝️😊🤗 of filosofy, (part) of the reasons I am on this network to have my daily Qoorious coffee/readings ..
Longer answer (and as a bonus I will let you know how I ended up as the only Belgian, so far😊, until this moment on Qoorio, at least to my knowledge.)
"As a Belgian living in Brazil where I set up my own real estate investing company from scratch (as foolish as this looks in hind sight when writing this down, in the beginning I couldn't speak even Brazilian Portuguese- but that's another story), I worked almost day and night while also had to give a lot of attention towards my family whom I had brought over from Belgium with me and they also faced the same problems (new school, new language, new house, totally new social environment etc).
"My work universe was (and still is) a network of trusted Brazilian real estate lawyers, brokers, real estate developers, my accountant a few free lancers (real estate scouts, architects). With this people I have worked very closely during a number of years."
"While doing so, after some years, some Belgians from my 'old' home country started to contact me and asked spontaneous help to introduce them to and help them with things like setting a local company themselves, referring to have a good accountant, commercial introductions, helped them to translate (meanwhile I became quite fluent in Portuguese) .... I started to realise I had something to offer...and the seed of becoming a business angel was planted."
"Also doing so, broke my old social network and I met totally new people from outside of my network with different/other views/insights/experiences....and that was the second seed of becoming a business angel"
"After a failed first investment in a start up, I realised I lacked training/education in the business angel world."
"After moving back from Brazil to Belgium I decided to follow a number of angel investment classes where at the same time I learned how syndicates were working"
"I couldn't find the specialised trainings in Belgium so I found a course in the Netherlands. I very much liked it and learned a lot. I asked the organizers how did they start. They learnt it them selves from other investors/copied the program from Estonia. So I took lessons online/offline from Estonia."
"In Estonia I asked the organizers from the Nordic Angel Program why/how they decided to launch an investor program...seemed they learnt it themselves/copied from Fiban (association of Finnish business angels) and some angels of FIBAN in Estonia invited me to Helsinki to "learn from the source"...
"And so I ended up in Helsinki...taking lessons and networking /investing together in one Finnish start up. (The idea/filosofy of those programs is not only learning in theory but also Do-ing it, making a real due diligence /vetting process)"
"In Helsinki I was approached by a Baltic VC who wanted to learn more from my Brazilian experiences as one of this start-up's started to get active over there and checked if I could help them potentially...Offcourse✌️😉..."
" I liked his investment approach and learned he was launching a new fund...the first investment turned out to be....,🙌🤗 Qoorio"
And so Justas that's how I became an angel investor and enthusiastic supporter of Qoorio 👌👍 and the first Belgian on your network.
Hereunder a picture of Brazilian art, it's a group of people going in group from one place to another and that's how I feel about life and angel investing.
Have a lot of thoughts buzzing in the head, but feel crap at articulating them to your team or others?
I feel you. It happens to me. ALL.THE.TIME! 🙄
You feel like you have a lot of ideas and have the reasoning why they are great and that you can take over the world with them. But when they come out of your mouth, what you say doesn’t have the same power when you vocalize them. And unfortunately what sounds great in your head just doesn’t translate to anything valuable, impressive or inspiring to your team.
Not all of us are born great orators, but when we have a passion, we can talk hours about it. Meaning, we have a bunch of words and sentences around the topic, but the key is to concentrate the most valuable part of the whole idea into a short pitch.
So…what to do?
Basically you have to practice explaining things to people. Here’s a few tips I from my experience, that I feel helped me a lot:
1️⃣ TREAT IT LIKE A STORY
“It all started, when…” Not everyone operates on the same level of information as you do, so even if it feels stupid and common sense most of the time when working in a team, start with giving a back story to why your topic/suggestion/idea is important. This introduction is a great way for you to keep the flow of your talk, have everyone onboard and not jump into the middle of the story where context might get lost for people that have less information about what you are telling.
2️⃣ HAVE A PLAN
Have the end goal in your head, where you want the listeners to be taken to by your story. Even if what you will be telling or discussing goes all different directions, you will have this powerful lighthouse - the main point that you want to conclude to.
3️⃣ BE PREPARED
if you have time, let’s say - have a meeting about something - do some research and challenge your idea asking WHY it is important to discuss and HOW it could be perceived different than you think. In that case - you will feel solid if you get these questions, will express your opinion more firmly, taking possible doubts into consideration, and increase the chance that conclusions will be made as you expected.
4️⃣ MAKE IT FLOW
Thoughts usually are very chaotic. In our heads, they are random keywords which you roughly know how to combine into this huge concept. Try putting your thoughts into text. When you do this exercise, you will be faced with a challenge of construction - have to write it down so that it has structure, flows nicely and makes sense in general. After doing so, you will have the structure in your head: what is starts from, why it matters, how you propose to approach it and what value will this idea bring to listeners.
🙃 P.S. See what I did here? I think Qoorio insights are a great way to start practising structuring your talks and inspiring your team 😉