MONTHLY MULLING 💡
Finding Time In Your Busy Schedule, Creator Milestones, and Avoiding Bad Decisions
Hi👋,
Tapan here.
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Happy Sunday y’all!
I went for a hike to Surrey during the long weekend and completed the Box Hill Trail. It’s around a 13-kilometer hike and has a series of uphills and downhills. Not gonna lie, 3-times during the hike I thought I was going to die. I don’t usually hike but this summer planning to do a few more.
In other news, I helped my friend Thomas Chua re-design his website, Steady Compounding. Thomas is an investor based out of Singapore who is a student of Warren Buffett and Charlie Munger. So obviously, we invited him to Cold Brew Money as a guest. It’s a great episode, do give it a listen if you’re interested in investing.
Moving on🚀
💭MULLING
⌛ Finding Time In Your Busy Schedule (Article - 9 mins)
I wrote two articles!
In the first article, I am discussing my approach to finding time in your ‘busy’ schedule.
Busy is now mostly used as a catch-all term for procrastinating or not working on something that gives you fulfillment. We have made being busy as being productive. However, that is not true. Busy means you’re not managing your time well.
So, the above image shows the four steps I follow whenever I think I am busy and not being able to manage my time properly.
It’s no rocket science. But sometimes, all you need is for someone else to say it out loud.
I also appreciate my incredibly biased opinion saying the following method could help you find time because I live alone, don’t have much of a social life currently, and am single. I honestly am not sure, if I am in either of the above situations that I will find the same amount of time using the same method.
For more details on the steps, read the full article.
🍕 The Creator Milestones (Article - 6 mins)
In this article, I lay out the 4 milestones which every creator who has monetized their content could use to validate that they are on the right track.
The First Dollar - earning your first dollar through your content/product
Pizza Money - sustainably earning enough so that you can order a pie per month through your content/product
Ramen Money - took this from Paul Graham’s Ramen Profitable article where you are able to pay off your minimum living expenses through your content/product
Tiramisu Money - you can comfortably live using money earned through your content/product
For more details, read the full article.
👫 Dunbar’s Law by Sketchplanations (Article - 3 mins)
I recently stumbled on Dunbar's Law again. I had briefly mentioned it in my article on Network Effects and how it is important to understand when creating Network Effects.
Dunbar's number is a suggested cognitive limit to the number of people with whom one can maintain stable social relationships—relationships in which an individual knows who each person is and how each person relates to every other person
And this number comes to 150.
Further, according to the theory, the tightest circle has just five people – loved ones. That’s followed by successive layers of 15 (good friends), 50 (friends), 150 (meaningful contacts), 500 (acquaintances), and 1500 (people you can recognize). People migrate in and out of these layers, but the idea is that space has to be carved out for any new entrants.
🧠 Avoiding Bad Decisions by Farnam Street (Article - 3 mins)
Here are my takeaways from the article.
Never make important decisions when you’re tired, emotional, distracted, or in a rush.
Never let anyone define the problem for you.
Seek out information from someone as close to the source as possible, because they’ve earned their knowledge and have an understanding that you don’t.
Be less busy. Keep a learning journal. Reflect every day.
Act as you would want an employee to act if you owned the company.
Avoiding bad decisions is just as important as making good ones. Knowing the warning signs and having a set of rules for your decision-making process limits the amount of luck you need to get good outcomes.
📚TREAT YO’ SHELVES
READING CHALLENGE 2021
Check out my 2021 Reading Challenge page (read 30-pages per day). You can join us on Goodreads, we have a group for the challenge!
I published my notes for the following books - Show Your Work, Atomic Habits, and Steal Like An Artist. You can read the notes to decide if the book is worth ordering.
📚 I am currently reading
The Most Important Thing by Howard Marks
The Four Agreements by Don Miguel Ruiz
🎙PODCASTS
💰COLD BREW MONEY
📈 #38 - Dollar Cost Averaging (DCA) & Pop Culture - We discuss the benefit of DCA for beginners | Episode Page
📊 #39 - In Conversation With Thomas Chua From Steady Compounding Discussing Fundamental Analysis and Quality Growth Compounders - We discuss a bunch of topics such as mental models, fundamental analysis, and growth stocks. A fun episode. | Episode Page
🎧 WEBSITE | APPLE | SPOTIFY | GOOGLE PODCAST | ANCHOR | CASTBOX | JIOSAAVN
Bye.
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