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GOLD! Think big and then think bigger than that.

Bekit

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Seth Godin's blog post today has a great list of 23 things - all legitimate real-world problems that would fit nicely into the "think bigger" category. I don't agree with every item on the list (e.g. #15), but it's a great thought exercise and idea starter.

(Read Seth's whole post for context): Hilbert’s list

1. High efficiency, sustainable method for growing sufficient food, including market-shifting replacements for animals as food
2. High efficiency, renewable energy sources and useful batteries (cost, weight, efficiency)
3. Effective approaches to human trafficking
4. Carbon sequestration at scale
5. Breakthrough form for democracy in a digital age
6. Scalable, profitable, sustainable methods for small-scale creators of intellectual property
7. Replacement for the University
8. Useful methods for enhancing, scaling or replacing primary education, particularly literacy
9. Beneficial man/machine interface (post Xerox Parc)
10. Cost efficient housing at scale
11. Useful response to urban congestion
12. Gene therapies for obesity, cancer and chronic degenerative diseases
13. Dramatic leaps of AI interactions with humans
14. Alternatives to paid labor for most humans
15. Successful interactions with intelligent species off Earth
16. Self-cloning of organs for replacement
17. Cultural and nation-state conflict resolution and de-escalation
18. Dramatically new artistic methods for expression
19. Useful enhancements to intellect and mind for individuals
20. Shift in approach to end-of-life suffering and solutions for pain
21. Enhanced peer-to-peer communication technologies approaching the feeling of telepathy
22. Transmutation of matter to different elements and structures
23. Off-planet outposts
 
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theforamyst

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If you think bigger wouldn't that make it harder to execute on it?
Are there some common pitfalls when trying to execute on big ideas?

One could say: Why make it harder on yourself?
Why not have a less big idea but have a better chance of executing on it?

Love this thread btw, just trying to come up w/ some critical notes. :)
 

Scot

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If you think bigger wouldn't that make it harder to execute on it?
No not really.

The point that @Kak is trying to make is that its the same process and same journey whether its a big or small idea. So, why not go big?

In some instances, it can even be easier to tackle a big idea.
 

Jello

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No not really.

The point that @Kak is trying to make is that its the same process and same journey whether its a big or small idea. So, why not go big?

In some instances, it can even be easier to tackle a big idea.
As long as you break it into manageable chunks, and take massive action every day, it will get done.
 

AgainstAllOdds

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Why is that? Can you give some examples? I'm struggling to get this. What chapters or concepts from TMF are most relevant here?
Think of opening your own restaurant vs taking on an SBA loan to buy a $1M business that generates $250,000 per year.

Your Own Restaurant
  • Thinking small
  • Downside: bankruptcy
  • Probability of success: 0-10% -- most restaurants fail
  • Investment: Entire savings to get it started
  • Expected Outcome: Trading your time for money, never taking out a penny, and eventually failing
Acquiring a Business:
  • Thinking bigger
  • Downside: bankruptcy
  • Probability of success: 50-90%
  • Investment: Entire savings as down payment
  • Expected Outcome: Successful business that brings in $250,000 per year - $80,000 in interest payments = $170,000 in cash or equity that's paid toward the loan

Both of these businesses would require a similar amount of hours dedicated per week. Both would require similar skillsets of leading, managing, operating, etc. However, the second scenario has a lot higher payout per effort because you're thinking bigger.
 

PizzaOnTheRoof

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At 100 years old, the world's oldest billionaire still goes to the office every day

A GEM quote from this wise billionaire... "When I was younger, I was more bad-tempered, so I was more (of) a hard leader," said Teo. "But my father taught me one thing, in Chinese, it's 'yi de fu ren' — that means you want people to obey you, not because of your authority, not because of your power, or because you are fierce, but more because of your integrity, your quality, that people actually respect you and listen to you."
If you force people to obey you, they will only do so when you are watching them. And will spend the rest of the time undermining you.

Your integrity and core values become the guiding light and your employees internal compass.


After facing many moral/ethical dilemmas in the last few months, and choosing to take a hard line at the cost of short-term money... it's helped make our core values clear, and I know my employees respect me and the job more because of it.
It’s the difference between having to work for someone vs wanting to work for someone.
 

AgainstAllOdds

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Why is that? Can you give some examples? I'm struggling to get this. What chapters or concepts from TMF are most relevant here?
I read your introduction post on this forum, so maybe it's better to give an example off of that:

I wanted to start a pizzeria bc that's pretty simple I thought but even that my mother talked me out of it. Maybe there are some parents that don't want their kid on the fastlane?

I'm still having some plans to develop a biz both online as offline. Offline I think local biz food sector is still good and has still room for opportunities especially w/ modern tech like online ordering.
You have multiple options.

Thinking small:
  • Open a pizzeria. Operate it. Hope people walk in and that you can get online orders.
Thinking big:
  • Buy a commercial kitchen. Master online food order marketing in your local market. "Open 100 pizzerias" online that target different niches yet are all made in the same kitchen and use the same ingredients. Grow into other markets.
  • Invest in an automatic pizza making robot and install it in a self driving car. Perfect the technology. Wait for self-driving legalization. Raise funding. Franchise the model to everyone that wants to get in.
  • Open a pizzeria where the demand is highest, you can charge the largest premium, and you can grow the fastest. For example: a Chicago-style deep dish chain in Asia.
There's a lot of examples. Just have to think bigger. Adjust your mindset. Go for the higher payout.
 

GPM

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One could say: Why make it harder on yourself?
Why not have a less big idea but have a better chance of executing on it?
I believe that the complete opposite is true. Making it hard on yourself would be going after the small fish, where everyone else is fighting for business.

Imagine if you wanted to sell your widget to a local store. You and 50 other companies want to sell this same widget to that store. Then you find out that the distributor for the widget is the same one that distributes to all 50 companies. So it turns out that everyone gets their product from the same place, and then they all try to fight for shelf space at the same locations.

Thinking big would be finding out what goes into those widgets, and then supplying the manufacturer and distributor with those materials. That way when those 50 companies are all out fighting for product space, it does not matter who wins and at what price point, they all end up using your materials.

By going that way, you win no matter what happens. You also are maybe competing against 1 or 2 other companies who supply those materials. Which battle would you rather fight?

I have to add a step 2 to this. After you sell the materials to this customer, you now have a track record of success and can sell materials to all of their buddies who need things. Keep growing it from there until you become a name in the industry. Then people will go to YOU for advice and what they need, instead of you chasing them down.
 

Brad S

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I believe that the complete opposite is true. Making it hard on yourself would be going after the small fish, where everyone else is fighting for business.

Imagine if you wanted to sell your widget to a local store. You and 50 other companies want to sell this same widget to that store. Then you find out that the distributor for the widget is the same one that distributes to all 50 companies. So it turns out that everyone gets their product from the same place, and then they all try to fight for shelf space at the same locations.

Thinking big would be finding out what goes into those widgets, and then supplying the manufacturer and distributor with those materials. That way when those 50 companies are all out fighting for product space, it does not matter who wins and at what price point, they all end up using your materials.

By going that way, you win no matter what happens. You also are maybe competing against 1 or 2 other companies who supply those materials. Which battle would you rather fight?

I have to add a step 2 to this. After you sell the materials to this customer, you now have a track record of success and can sell materials to all of their buddies who need things. Keep growing it from there until you become a name in the industry. Then people will go to YOU for advice and what they need, instead of you chasing them down.
Think big is a bad motivational cliche at this point.

It's a tell 99% of the time for a conman.

Think big, think small it doesn't matter.

You could argue either side as you and the person you quoted just did.

Both would sound equally true, why one is better than the other.

You know what small plans and big plans have in common?

They both have minuscule chances of success.

The scenario as you just described it is about as likely to play out like that (pre planned no less) as wining the lottery.

Since we can't predict the future or control most factors...

Like the old saying goes :

When you make a plan God laughs.

You will need massive serendipity for your plan to succeed.









Sent from my SM-G950U using Tapatalk
 

CareCPA

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Think big is a bad motivational cliche at this point.

It's a tell 99% of the time for a conman.

Think big, think small it doesn't matter.

You could argue either side as you and the person you quoted just did.

Both would sound equally true, why one is better than the other.

You know what small plans and big plans have in common?

They both have minuscule chances of success.

The scenario as you just described it is about as likely to play out like that (pre planned no less) as wining the lottery.

Since we can't predict the future or control most factors...

Like the old saying goes :

When you make a plan God laughs.

You will need massive serendipity for your plan to succeed.

Sent from my SM-G950U using Tapatalk
But if you succeed, what's the outcome?

Let's pretend I'm selling tax preparation services. Assume my close rate is 10% (it's not, trust me ;) )
I can pitch 100 individuals, and get 10 returns, and maybe get $150 a return. So all that time and I make $1,500.

Let's assume it takes 10 times longer to pitch to a business (it doesn't). So I pitch 10 businesses, and win one. But that business is a large local employer, and has operations in several states, and I can charge $10,000 for that return.

Same amount of time, same amount of effort, much bigger payoff.

In reality, it doesn't take 10 times longer to pitch to a bigger client, and that's the whole point. Say I pitched to 100 businesses of the same size, and won my 10%. Now I have $100k in revenue. Do you know what I could do as a service business with that kind of revenue?
Hire a person to do all the work, keep a large chunk, and still free up my time to pitch to more businesses.

But now I've won another 10 businesses. I can afford another staff to complete the returns, and I can hire a sales person, so I don't even have to keep creating proposals.

Rinse and repeat. Hire people to work in the business, while you craft strategy, or sip pina coladas, or whatever you want.

And that's the difference between thinking big and thinking small.
 

Kak

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Think big is a bad motivational cliche at this point.

It's a tell 99% of the time for a conman.

Think big, think small it doesn't matter.

You could argue either side as you and the person you quoted just did.

Both would sound equally true, why one is better than the other.

You know what small plans and big plans have in common?

They both have minuscule chances of success.

The scenario as you just described it is about as likely to play out like that (pre planned no less) as wining the lottery.

Since we can't predict the future or control most factors...

Like the old saying goes :

When you make a plan God laughs.

You will need massive serendipity for your plan to succeed.









Sent from my SM-G950U using Tapatalk

Tell me Brad, what makes you an authority on this topic and what are you suggesting we do? Just curious. Think medium perhaps?
 

GPM

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I know I am not a lottery winner because a team of us have been working on a project with no pay for nearly 2 years in order to get the win.

Big goals, big plans, big action. I'm not sure the lottery has any of those three things.
 

Brad S

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Tell me Brad, what makes you an authority on this topic? Just curious.
I'm definitely no authority on anything.

I'm making some much needed counter arguments that dont get addressed in this forum.

I don't assert any of it is accurate.

My own experiences, some things I've seen and read have me suspecting:

I've been wrong about many things and so has most everybody else.

As in I dont know shit and neither do most people.

Especially those who THINK they know.

Sent from my SM-G950U using Tapatalk
 

Kak

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I've been wrong about many things and so has most everybody else.

As in I dont know sh*t and neither do most people.
Funny you say that because I would consider this a milestone. Once you realize you can’t be a master of everything, and that the best you’ll ever be at all the intricacies of a truly successful business barely scratches the surface, you finally understand the need for leadership.

Leadership. The greatest power you can yield in business.

I know you meant this in more of a defeatist drivel kind of way because things haven’t worked out how you hoped. They rarely do. Get used to it.

It is up to you; you can adapt and move forward, or you can bitch about how the world isn’t exactly how your imprudent interpretation of a mindset thread made it seem.
 
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Brad S

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Funny you say that because I would consider this a milestone. Once you realize you can’t be a master of everything, and that the best you’ll ever be at all the intricacies of a truly successful business barely scratches the surface, you finally understand the need for leadership.

Leadership. The greatest power you can yield in business.

I know you meant this in more of a defeatist drivel kind of way because things haven’t worked out how you hoped. They rarely do. Get used to it.

It is up to you; you can adapt and move forward, or you can bitch about how the world isn’t exactly how your imprudent interpretation of a mindset thread made it seem.
You're a good salesman Kyle.

You take what I said and use it as a segue to your much loved leadership in business principle.

No sarcasm intended since we cant read tone.

Letting go or giving up is not the same as defeat or being defeatist.

Who says I haven't gotten the best outcome I could ever hope for?

You know what's better than achieving goals?

Not giving a shit about goals at all.

That's freedom.

People come to this forum because they think they want to be rich.

What they want to be is free.

These are not the same things.

I don't care to convince anyone of anything.

People can come across these words and come to their own conclusions.




Sent from my SM-G950U using Tapatalk
 

Brad S

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Welcome to the thousandaire medium lane! Best way to think
Maybe you will achieve all of your goals.

IF you do, it doesn't mean your story or advice is applicable to anyone else.

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Greg R

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Expected Value (EV) cough cough...

Think big is a bad motivational cliche at this point.

It's a tell 99% of the time for a conman.

Think big, think small it doesn't matter.

You could argue either side as you and the person you quoted just did.

Both would sound equally true, why one is better than the other.

You know what small plans and big plans have in common?

They both have minuscule chances of success.

The scenario as you just described it is about as likely to play out like that (pre planned no less) as wining the lottery.

Since we can't predict the future or control most factors...

Like the old saying goes :

When you make a plan God laughs.

You will need massive serendipity for your plan to succeed.









Sent from my SM-G950U using Tapatalk
 

Greg R

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If anyone appreciates a good counter arguement it is people on this forum, but the thing is, your counter arguements are not well thought out or valid. You are simply arguing to argue.

Leadership has been the entire premise of this thread. @Kak is not changing the subject.

You are telling everyone to "let go" and "be free", "forget about goals", but we can do a side-by-side comparison and I'm pretty sure I know who would win.

You are accusing @Kak of telling people what they want and in the same sentence you do the same thing! :clap::

You're a good salesman Kyle.

You take what I said and use it as a segue to your much loved leadership in business principle.

No sarcasm intended since we cant read tone.

Letting go or giving up is not the same as defeat or being defeatist.

Who says I haven't gotten the best outcome I could ever hope for?

You know what's better than achieving goals?

Not giving a sh*t about goals at all.

That's freedom.

People come to this forum because they think they want to be rich.

What they want to be is free.

These are not the same things.

I don't care to convince anyone of anything.

People can come across these words and come to their own conclusions.




Sent from my SM-G950U using Tapatalk
 

Brad S

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Expected Value (EV) cough cough...
Life isnt poker.

You cant know probabilities in life.

Too many variables that you dont know what you dont know.

I thought of the odds of winning this poker hand...good EV so I bet...

What I didn't figure was someone shooting me at the table as a way to lose...oops

That's the difference between life and a game with known variables.

EV formulas for life are fantasy.

Ironically the BIGGER you think the LESS the odds you pull it off.

I know, I know but if you do over come
the long odds that you can't possibly even know how long....you're a trillionaire.

I get it.

Attempts aren't free though.

They cost time, money, energy and opportunities to do other things that might have actually produce SOME results.

Just to be clear..

I'm not giving advice, making suggestions or cheerleading a point of view.

Just offering some counter balance to the heavy biases of some on this forum.

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Brad S

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If anyone appreciates a good counter arguement it is people on this forum, but the thing is, your counter arguements are not well thought out or valid. You are simply arguing to argue.

Leadership has been the entire premise of this thread. @Kak is not changing the subject.

You are telling everyone to "let go" and "be free", "forget about goals", but we can do a side-by-side comparison and I'm pretty sure I know who would win.

You are accusing @Kak of telling people what they want and in the same sentence you do the same thing! :clap::
Yeah it's a bad habit me posting my thoughts in print on here because it really is a waste of time for me and the majority of people who read it.

Most of the time I resist the urge.

I dont know or care what people want on this forum..

Just making generalizations about human nature.

And I'm not telling anyone anything.

I'm turning some of my thoughts to print.

I certainly dont care to argue.

I have no skin in the game.

Who cares what I say anyway?

I could be a total idiot.

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