It is important to have people you look up to. People you can copy something from
It is important to have motivators, role models, mentors. Not because you should do exactly what they are doing. Rarely any person is perfect in every way. The people I mention here are ones from which you can learn a trick or two. None of them are perfect. But all of them have at least one thing that is worth copying.
Dan Peña, the badass of billionaires
He is the badass of billionaries. That is maybe the best way to describe him. His style is not my style in terms of going vulgar right away, but he does provide some good and strong learning points. One of the most interesting one is his suggestion to act like a millionnaire before you become one. He made the example of when he was poor and went to a Rolls Royce dealership and smelled the leather of the inside.
Also, how he always dresses elegantly. These are important as they create a state of mind. When you spend your time among alcoholics and partypeople, there is a good chance you will become a partygoer or an alcoholic. Potentially both. When you however spend your time among intelligent people, business people, engineers and the like, chances are good you will mimic their behaviour. When you are among these people, you feel like you are already one of them. Maybe you are still a student in one of the businesss schools, but when you spend a few hours or a few days among people who already work in the sector and are successful in some way, you will already feel like you are one of them and start openly discussing economics, business, etc. Similarly, when you go to a Rolls Royce dealership, and sit in one of these precious and very expensive cars, you will already feel like and behave like you are somebody who can afford one of those. And this will create an inner drive to one day have one. And he actually has now a Rolls Royce Phantom custom made for 520k USD…
When writing this, I am sitting in a coffee shop, working on my computer. This is not the life I live every day, I am not a digital nomad (yet) in any way, but right now I feel like one. Just by living the lifestyle of a digital nomad, working on his computer coming up with business ideas, I already imagine myself doing this for a living and making millions online. And by imagining this, I’ve made the first step already. Similarly, when you are still a student at a business school, maybe in your second year only, but have a chance to spend a few days on a retreat with business people, you will start to dress smart and your midset will automatically be set to high achiever mode.
Obviously this doesn’t always work like that. It can be that your are invited to a leadership meeting where your company’s executive management is present along with the top 100 managers, everybody discusses business, money, politics, but you don’t feel like. In some cases it takes time for you to get used to it, or maybe you will discover that you are not the type of person who easily interacts or easily networks. Try something else. Don’t push things you don’t feel good about.
His official page: https://www.danpena.co.uk/
His Instagram feed: https://www.instagram.com/danspena/?hl=en
Warren Buffett, investment and management guru
This guy had to be on my list. He is one of the richest people in the world, which is nice. He is a great investor too, which is one of the reasons he ended up on my list. Indeed, when it comes to investing, I believe in his style of investing for the long term. Getting a less widespread investment portfolio, but hold it for a longer period of time. Don’t jump on temporary waves like bitcoin, NFTs and the like. Invest in substance. At his level, he can make a difference as well, like entering into the board, guiding management and the like. You can do it as well, by investing in smaller companies, or you can simply go for the long term and get a small share in a large corporation that potentially has a bright future in the very long term.
One other thing I like about him is his management style. There is a book he’s written (Warren Buffett’s Management Secrets) which explains his principles of management. I don’t want to be a spoiler, but one thing I remember well is that you have to trust your management to run the company like it’s theirs. I think this is also applicable to all employees as well. If people feel they are a valued member and are trusted, they will be at their best performance.
And the last thing, maybe the most important, is that he has a very humble personality. Never buys expensive cars, spends on large homes and celebrity gadgets. This is someting I also admire. If you are rich, it doesn’t mean you have to shows it all off (or even more than you have)… Let your success speak, not your Ferrari.
Tim Ferris, the guy who likes to dissect and understand
He is somewhat strange to be seen on a finance related website. But as I wrote, this is not a blog about finance, but a blog for finance guys about things a finance guy may be interested in. Tim is a New York Times best selling author of many books, one of the first was the 4-hour workweek. Which in an interesting book, one I recommend reading for young entrepreneurs. He has a lot more books with a similar theme, the 4-hour chef, the 4-hour body, etc. I haven’t read those, even though they seem to be interesting.
So why is he on my list? He is here because in all his books he does one thing great. He digs into the details of things, disects it to its elements, understands, learns from it and mimics if necessary. This way giving the reader a new perspective, destroying the burden and fear that separates most people from achieving success. As I wrote in one of my posts, it is difficult to run 20 miles. But you can definitely take one step, right?
He also has many good speeches online. You can find him on YouTube and Ted.com as well. One of my favourite is this one, where he discusses how to fight fear. He is also an advocate for stoicism, which is very similar to mindfulness. That is something worth practicing, especially today that stress and pressure is coming from all around us.
At the end, he is just a simple guy interested in many different things, which also appeals to me. I also like to find out about new things that might have nothing to do with my field of work, dig into the details, understand and replicate.
And if you get the time, read one of his books as well, I’m sure you will enjoy it.Have a look at his website: https://tim.blog
And if you get the time, read one of his books as well, I’m sure you will enjoy it.