While reading Multipliers, I have been conscious of the fact that I don’t apply knowledge sufficiently when I obtain it. I learn a lot of useful things, enjoy the process of learning them and the revelations they provide, but I don’t always change my behavior. Alex Hormozi made this clear to me during one of his videos. I am writing notes here to hopefully keep track of some of the more useful information I get from this book, and to then make a more focused effort in changing my behavior so I can actually leverage the new knowledge.
When introducing someone, share a specific thing about them that highlights their talent or usefulness to myself or an organization. “This is Rahul, he’s an expert day trader and if you give him money it will grow.” What if this was how I was introduced everywhere? Any business can explode with word of mouth advertising. Having people associate you with your talents because someone else said it for you must be powerful enough to do the same for an individual and the way they are perceived.
“Ignore me as needed to get your job done.” Exercising judgment and getting a job done is more important than placating the boss.
Ask questions to allow people to think of solutions.
Debate making: Surgeons will cover the whole patient’s body except the one knee they are operating on. In a similar way, frame a debate in such a way that the issue is clear and there is no chance of people straying to “the other knee.”
In trading, I need to frame my research in clear terms with clear context. Instead of just studying the 5m 21, I should be “finding consistent factors that determine exit conditions, as well as the times that I should skip the 1m wave/5m 21 setup entirely, by using 2021-2022 historical data.”
When giving people a compartmentalized, isolated task, they tend to focus on optimizing their individual part. By giving them the ability to see the bigger picture, you enable them to stretch their imagination and accommodate more than their part.
When the job is huge, you just grow into it.
By stepping in to save the day too much, we deprive employees of the fundamental step of seeing natural consequences of their work.
When shopping for a new boss, ask to sit in on a team meeting or conference call, to “better learn how the team works.”
Confronting diminishers is the least effective way to get a W.
Exploit your boss’s strengths. By asking Steve Jobs how to make a particular product better, he gets interested in sharing ideas rather than simply looking at what’s there and criticizing it.
When building a new habit, it takes the same part of the brain to uproot the old habit. Give yourself permission to stumble until the new habit has had enough time to overwrite the old.
You need to identify the triggers for bad behavior, and make conscious actions to put a stop to the undesired action. The reactive action needs to be habitual and automatic. For trading, I need to keep my relevant protocol(s) on the desk for the potential setup before it arrives. In addition, I should take conscious action to leave the desk between each trade to further minimize the chance of unplanned trades.
Establish the core beliefs (e.g. of good trading) and see to it that those beliefs are validated more often than violated.