Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis
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Transcript of Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis
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Ryan Allis
20s from my lessons
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ABOUT THIS PRESENTATION
THIS presentation can be found Online at
www.hive.org/20s
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Lessons from my 20s
INTRODUCTION
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Well, hello there
Best, Ryan Allis
If you have questions or thoughts, feel free to email me anytime via [email protected].
Hi there, I’m Ryan. I’m an entrepreneur living in San Francisco. I created this presentation in advance of my 30th birthday on August 14, 2014 to share what I learned in my twenties about life, entrepreneurship, and the world. I hope you will find it useful!
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TOPICS
THIS 1285 slide PRESENTATION COVERs What I’ve learned about
LIFE
entrepreneurship
The world
1
2
3
567 SlIDES
449 SLIDES
269 SLIDES
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PART 1 TOPICS
GOALS Purpose vision NETWORKS MENTORS HAPPINESS Health MEDITATION
PART 1 “LIFE” INCLUDES SECTIONS ON
HABITS COMMUNICATION Money Investing Love values Life LESSONS
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PART 2 TOPICS
The big opportunities Entrepreneurship Leadership Business planning Product development Innovation
PART 2 “ENTREPRENEURSHIP” INCLUDES SECTIONS ON
Venture capital Marketing Building systems Building a team Strategy & execution Steps to get started
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Human rights Human progress Systems thinking World 2050
PART 3 “THE WORLD” INCLUDES SECTIONS ON
PART 3 TOPICS
Millennials Climate change The innovation age
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TARGET AUDIENCE
MY PRIMARY TARGET AUDIENCE IS MILLENNIALS 15-35 WHO ARE INTERESTED IN MAKING A POSITIVE DIFFERENCE IN THE WORLD
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MY MOTIVATION
MY MOTIVATION TO
COMPLETE THIS PROJECt
IS MY MOTHER PAULINE
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MY MOTIVATION
SHE PASSED AWAY in 2012 FROM A BRAIN TUMOR
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MY MOTIVATION
I WANTED TO DOCUMENT ALL THE AMAZING KNOWLEDGE SHE GAVE ME IN HER 60 years
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MY MOTIVATION
She inspired so many to love everybody Follow their bliss and dream big
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For some context, here is my background
Born 1984 in Pittsburgh, PA SON OF A MINISTER from USA & A SOCIAL WORKER from UK GREW UP IN Woonsocket, Rhode Island and Bradenton, florida Started learning web development at age 12 in 1996 Majored in econ at UNC-Chapel Hill Led a software COMPANY CALLED iConTACT from age18-27 Grew icontact to 300 employees then sold company for $170M in 2012 Started mission-driven angel fund called connect ventures in 2012 WENT TO Harvard business school FOR MBA in boston LEFT HBS after first year TO launch CONNECT in SF Now living in san francisco and loving it
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And here are some of the Topics I’m Passionate about
THE ROLE OF BUSINESS & TECH IN MAKING THE WORLD BETTER Purpose-driven companies & Social enterprise CREATING A WORLD WITHOUT POVERTY CREATING A SUSTAINABLE WORLD BUILDING GREAT COMPANIES and cultures INTERNATIONAL RELATIONS & Development economics JOY AND HAPPINESS SCIENCE & INNOVATION Purpose-driven LEADERSHIP TRAVEL & EXPLORATION GOVERNMENT & PUBLIC SERVICE THE MIND & UNDERSTANDING OURSELVES
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What I’m deeply passionate about
Helping CREATe An ABUNDANT, SUSTAINABle, and joyOUS WORLD FOR ALL PEOPLE
All people can live peaceful, mindful, and joyous lives
All people can live on a sustainable planet with clean energy
All people have access to the six basic human needs 1 2 3
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What I’m working on on today
These days I’m the ceo of connect and the chairman of hive in san francisco
www.connect.com www.hive.org
Helping people and groups stay connected A global network of leaders working on creating a better world
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If you enjoy this presentation also check out
www.startupguide.com www.hive.org/book
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Let’s get started
All right Now Let’s get started 1264 slides to go…
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Lessons from my 20s
LIFE Part I:
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Lessons from my 20s
GOALs PART I, Section 1
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THE IMPORTANCE OF GOALS
VERY FEW PEOPLE ACTUALLY WRITE DOWN THEIR GOALS
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THE IMPORTANCE OF GOALS
FEWER STILL PRINT THEM OUT &
FRAME THEM
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THE IMPORTANCE OF GOALS
In my experience Those who write down & FRAME THEIR GOALS
ARE THE MOST EFFECTIVE HUMAN BEINGS AT CREATING
A BETTER WORLD
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THE IMPORTANCE OF GOALS
WHEN YOU WRITE a goal DOWN your subconcious BRAIN BEGINS TO MORE actively think about bringing into your life THE PEOPLE, RESOURCES & KNOWLEDGE
YOU NEED TO ACHIEVE your GOALS
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THE IMPORTANCE OF GOALS
WHEN YOU know what you’re up to In the world your mind can naturally Filter opportunities to find those that Match your goals
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I STARTED WRITING DOWN MY GOALS AT 16
I STARTED WRITING DOWN MY GOALS AT AGE 16 in the year 2000 AFTER MY MOM GAVE ME THE BOOK THINK AND GROW RICH
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I STARTED WRITING DOWN MY GOALS AT 16
THE FIRST EVER GOAL I wrote down at age 16 was “BUILD A COMPANY TO $1M IN SALES BY 21”
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I MISSED MY FIRST BIG GOAL
I MISSED THIS GOAL By 18 days
I TURNED 21 on August 14, 2005 iContact reached $1M in sales on September 1, 2005
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I STARTED WRITING DOWN MY GOALS AT 16
I wouldn’t have even come close To achieving this goal had I not Written it down
WRITTEN GOALS ARE INDEED POWERFUL FOR FOCUSING THE MIND
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REFLECTING ON GOALS
I’ve been AMAZED AT WHAT I’VE BEEN ABLE TO SEE, and EXPERIENCE and HOW LIFE HAS BEEN ENRICHED SINCE I BEGAN WRITING DOWN GOALS AND THEN PURSUING
THE HECK OUT OF THEM
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REFLECTING ON GOALS
HERE ARE JUST A FEW OF THE THINGS in life I’ve been able to achieve In my twenties due to writing down my goals
And then pursuing them
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Age Goal Achieved 21 GREW icontact to $1M in sales 23 Raised $5M in venture capital Series A round for iContact 25 Raised $40M in venture capital Series B for icontact 26 icontact reached 300 employees and $50M in annual sales
Joined united nations foundation Global entrepreneur council Got to Meetworld leaders like ban ki moon, kofi annan, bill clinton, barack obama
27 Sold icontact for $170M to a public company Started impact investing firm Connect VENTURES Visited kenya, Uganda, rwanda, egypt, ghana, Invested in off-grid electric in tanzania Got into harvard business school
28 Invested in spacex, change.org, lendingclub in Silicon Valley Completed year one of HBS MBA in boston Started Connect in san francisco
29 FINISHED Losing 50 pounds (205 ! 155) Started meditating daily Connect passed 1 million users
What’s happened in my 20s due to writing my down GOALS
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Building icontact
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Leading an amazing executive team
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JOINING THE UN FOUNDATION GLOBAL ENTREPRENEUR COUNCIL
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Co-chairing Tech for obama in 2012
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ATTENDING HARVARD BUSINESS SCHOOL
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ANYTHING IS POSSIBLE
NEARLY ANYTHING IS POSSIBLE THAT YOU SET YOUR MIND TO AND WORK HARD AT
FOR 10 years
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An EXAMPLE
AS AN ExAMPLE HERE ARE
MY current GOALS
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1 Year goals
GET CONNECT TO 2M MONTHLY ACTIVE USERS
RAISE SERIES A FOR CONNECT
GROW HIVE FROM 80 TO 300 GLOBAL MEMBERS
PUBLISH EVERYTHING I’VE LEARNED BY 30
MEDITATE OVER 300 TIMES (6X/WEEK)
VISIT ARGENTINA & ENGLAND
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10 Year goals – by 2025
100m people use connect to stay connected
built hive into a global community of people working to
create a better world with 10 Profitable locations
traveled to over 50 countries exploring perpsectives on
Human potential and spirituality
Published a book on creating a better Life, Company, & world
Built a relationship with an amazing life partner
Become an extraordinary father
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LIFETIME GOALS
Live a joyous, happy, and fully alive life Be an extraordinary partner and father
Create a profitable hive in 1000 cities
BUILD a global community of extraordinary people
working on creating a better world
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Never limit your dreams
My friends. Do not limit your dreams.
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A quote
“Dream no small dreams for they have no power to move the hearts of men.”
- Johann Wolfgang von Goethe, German writer
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Write down your goals
Here is a 12 step process YOU Can use FOR WRITING DOWN
YOUR GOALs
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Writing down your goals
You can do this 30 minute exercise right Now Or put a time on your calendar to
Come back to it
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GOALS EXERCISE
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GOAL SETTING PROCESS
OPEN UP GOOGLE DOCS
CREATE HEADINGS For 1 YRs, 10 YRs, AND LIFETIME
THEN WRITE DOWN 5 TO 7 GOALS IN EACH CATEGORY
MAKE EVERYTHING FIT ON ONE PAGE MAKE SURE ALL GOALS ARE MEASURABLE SO YOU’LL KNOW IF YOU GOT THERE OR NOT
1
2
3
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PRINT OUT TWO COPIES
SIGN THEM
FRAME THEM
4
5
6
GOAL SETTING PROCESS
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PUT ONE FRAME IN YOUR BEDRO0M
PUT ONE FRAME AT WORK
SHARE YOUR ONE-PAGER WITH A CLOSE FRIEND
7
8
9
GOAL SETTING PROCESS
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10
11
12
DEC 26-31 CALCULATE RESULTS GREEN = MADE IT YELLOW = 50%+ there RED = <50% there UPDATE GOAL SHEET FOR THE NEXT YEAR & REPRINT/RESIGN/PUT IN FRAME
GOAL SETTING PROCESS
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MAKING YOUR GOALS AMBITIOUS ENOUGH
OF YOUR GOALS
IF HIGHER, THEN YOUR GOALS ARE NOT
AMBITIOUS ENOUGh
66% YOU SHOULD BE HITTING AROUND
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GOALS Reflection
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GOALS REFLECTION
WHEN WAS THE LAST TIME YOU WROTE DOWN YOUR GOALS?
CAN YOU FIND THEM?
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GOALS REFLECTION
DO YOU THINK THE GOALS YOU SET ARE USUALLY TOO AMBITIOUS?
OR NOT AMBITIOUS ENOUGH?
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GOALS REFLECTION
WHAT IS THE MOST AMBITIOUS GOAL You’VE EVER SET?
DID you achieve it? Why or why not?
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Lessons from my 20s
PURPOSE PART I, Section 2
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A quote
“When you grow up you tend to get told the world is the way it is and your life is just to live your life inside the world. Try not to bash into the walls too much. Try to have a nice family, have fun, save a little money… That's a very limited life. Life can be much broader once you discover one simple fact… Everything around you that you call life was made up by people that were no smarter than you and you can change it, you can influence it. Once you learn that, you'll never be the same again.” - Steve Jobs
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How to FIND YOUR PURPOSE
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MOST PEOPLE NEVER create THEIR LIFE PURPOSE Instead they get sucked into the
Dreaded vortex of passionless mediocrity (Don’t let this happen to you)
AVOIDING THE VORTEX OF MEDIOCRITY
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CREATING YOUR LIFE PURPOSE
THERE ARE TWO TYPES OF PEOPLE
1. THOSE WHO LIVE WITH PURPOSE
2. THOSE WHO DO NOT
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creating YOUR LIFE PURPOSE
THOSE WHO TAKE THE TIME TO CREATE THEIR LIFE PURPOSE OFTEN ARE ABLE To LIVE WITH EXTRAORDINARY ENERGY AND MOTIVATION & OVERCOME CHALLENGES Most could not dream of
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A QUOTE
- HOWARD THURMAN!
“Don’t ask what the world needs. Ask what makes you come alive. Because what the world needs is People who have come alive.”
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LIFE HAS NO MEANING UNLESS YOU CREATE THE MEANING FOR YOURSELF
LIFE HAS NO MEANING UNLESS…
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CREATING YOUR LIFE PURPOSE
SO let’s talk about Your LIFE PURPOSE
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DISCOVERING YOUR LIFE PURPOSE
IF YOU CAN GO THROUGH A PROCESS
TO CREATE YOUR PURPOSE THEN YOU CAN ADD GREAT MEANING AND MOTIVATIOn TO YOUR LIFE
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Your purpose is not Something you HAVE Your purpose is
Something you CREATE
Creating YOUR LIFE PURPOSE
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CREATING YOUR LIFE PURPOSE
Once you have a clear purpose and goals for your life you can direct your life rather than letting outside factors determine your direction
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TO0 MANY PEOPLE ARE WAITING to
“FIND” THEIR PURPOSE WHEN IN FACT purpose is something
you CREATE
DISCOVERING YOUR LIFE PURPOSE
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Standing strong with a clear purpose
You will be able to much more easily withstand criticism and challenges when you are internally clear on your
Specific purpose on this planet
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LIVING A PURPOSe-DRIVEN LIFE
THE COMMON DENOMINATOR AMONG EVERY SINGLE HIGHLY DRIVEN AND SUCCESSFUL PERSON I HAVE EVER MET, REGARDLESS OF FIELD, IS THAT THEY HAVE COMMITED THEIR GOALS TO WRITING AND CREATED FOR THEMSELVES A PURPOSE-DRIVEN LIFE
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Your LIFE IS YOUR MESSAGE
YOUR LIFE IS YOUR MESSAGE TO THE WORLD MAKE SURE IT IS
INSPIRING
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Living a Purpose-driven life
Living a purpose-driven Life is important to me
Here’s what I’ve created As My purpose
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MY life purpose
Help CREATe An ABUNDANT, SUSTAINABle, and joyOUS WORLD FOR ALL PEOPLE
All people can live peaceful, mindful, and joyous lives
All people can live on a sustainable planet with clean energy
All people have access to the six basic human needs 1 2 3
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Creating a Purpose-driven life
Everything I do is Driven by this
Sense of purpose
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MY LIFE PURPOSE
someday ALL PEOPLE will HAVE ACCESS TO the SIX BASIC HUMAN NEEDS of Food, water, shelter, medicine Education and electricity
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MY LIFE PURPOSE
Someday we will LIVE IN A SUSTAINABLE WORLD POWERED BY RENEWABLE ENERGY
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MY LIFE PURPOSE
Someday all PEOPLE will be able To LIVE PEACEFUl, MINDFUl AND JOYOUS LIVES
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your LIFE PURPOSE
The exercise on the following Slides can help you Create & refine
Your life purpose
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your LIFE PURPOSE
You can do this 90 minute Exercise right now or put a time On your calendar to do it
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Creating your LIFE PURPOSE
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How to FIND YOUR PURPOSE
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EXERCISE: CREATE YOUR LIFE PURPOSE
LIFE PURPOSE EXERCISE Instructions:
1. Print out this section so you can write in it with pen 2. Use a timer to give yourself exactly 4 mins per question 3. Write out the answers in the ovals 4. At the end, you’ll bring it all together in a final one-page
worksheet that you can frame if you choose 5. This exercise should take 90 minutes to complete
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What do you really love doing? When am I most in flow/in the zone? What excites me? What makes me come alive and be joyous?
4 min
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What does THE WORLD need? What does humanity and the world need to thrive? List as many things as you can think of.
4 min
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HOW CAN I CREATE WHAT THE WORLD NEEDS WHILE DOING WHAT I LOVE? What are all the things you could do in life that would serve humanity in a big way
and allow you to do what you love? Brainstorm below.
4 min
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WHAT ARE MY PERSONAL FINANCIAL GOALS? What do you want your annual income to be in 10 years? In 20?
What do you want to have saved up in investments and savings by age 65?
4 min
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HOW CAN I GET PAID TO DO WHAT I LOVE? What could you do in life that would serve humanity in a big way, allow you to do what you love, and create economic
value that allows you to reach and surpass your personal financial goals?
4 min
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DESCRIBE HOW THE WORLD WILL BE DIFFERENT IN 2050 because of you
Close your eyes for 5 minutes and imagine all the little details of how our world will be different in 2050 because of you. Then write what you see.
4 min
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WHAT IS THE CHANGE YOU ARE COMMITED TO? What is so compelling to you that you might be willing to dedicate your life to making it happen?
In other words, what might be your “life purpose.” Use the space to brainstorm.
4 min
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WHAT IS THE CHANGE YOU ARE COMMITED TO? See if you answer the above question as simply as possible so that a 10 year old would understand it.
Try to do it in fewer than 15 words (no pressure, this is just a draft). This could be considered your “life purpose.”
4 min
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POSSIBLE METRICS OF SUCCESS What are some metrics to track whether your life purpose is being realized in the world over the next 35 years? Make these metrics
specific and quantitative so it will be clear when you’ve achieved the impact you want to make in your life.
Examples: Global infant mortality < 1%; Global energy from renewables >95%; Carbon dioxide under 350
PPM; Homelessness in Oakland, CA down by 80%
4 min
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HOW MIGHT YOU MAKE THIS HAPPEN? What can you create/build/do during your life to help make this world that you dream of real? It’s okay
if you aren’t completely sure yet. Brainstorm ideas.
4 min
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LIFETIME GOALS
Brainstorm some goals for the rest of your life that align with the impact you want to make. Think about areas of life like
health, travel, experiences, adventures, work, finances, relationships, and impact.
4 min
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10 YEAR GOALS Brainstorm some goals for the next ten years that align with the impact you want to make. Think about areas of life like
health, travel, experiences, adventures, work, finances, relationships, and impact.
4 min
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ONE YEAR GOALS Brainstorm some goals for the next year that align with the impact you want to make. Think about areas of life like health,
travel, experiences, adventures, work, finances, relationships, and impact.
4 min
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90 DAY Action plan What are the very first action steps you can take over the next 90 days to start realizing your vision? Who should
you reach out to? What should you look into? What habits do want to start and stop?
4 min
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YOUR DESIRED WAY OF BEING
Examples: Joyous, mindful, alive, focused, driven, ambitious, kind, compassionate, loving
As you go about your journey in life, how do you want to be inside and come across to others?
What words do you want to define you?
4 min
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HOW OTHERS WILL REMEMBER YOU
Examples: “I will be known in the world as the sustainable energy person”
“I will be known in the world as the women’s rights advocate”
“I will be known in the world as the global leaders convener”
People will help you reach your goals if they can remember what you’re all about. If often hard to discern what the people you meet are up to
and who they need to be connected to. Make it simple for others you meet to remember what you’re up to by finishing the below sentence
and making sure those you meet know what you’re up to in the world.
I will be known in my community as the
_______________________ ____________________
person.
4 min
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NOW BRING IT ALL TOGETHER
On the next page is a blank life plan form.
Give yourself some time to review and reflect on all your answers from the brainstorming
session. Then print out and fill in the life plan form with a pen or pencil. Feel free to adjust
your answers as you go, but don’t worry too much about getting it perfect.
Consider this form as just a draft. You can print out another one anytime.
There are no right answers and you can re-do your life plan as often as you want. I find just
having something written down helps people a lot. I actually recommend re-doing this
exercise at the end of each year.
I suggest framing the page after you’re done and putting it up in your office or bedroom.
Worksheet!Instruc.ons!
15 min
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Life purpose
1 year goals 90 day action plan
Signed on _______________, _______ 20___ X______________________________________
Metrics of success by 2050
My desired way of being
How I’ll make It happen
Lifetime goals
I will be known in my community as the ______________________________ ______________________________ person.
10 year goals
Life Plan of ___________________________________
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EXERCISE: CREATING YOUR LIFE PURPOSE
As an example Here is my current “life plan”
In the 1 page format I update it about 1x per year
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Life purpose
Example: Life Plan of Ryan Allis
Signed on _______________, _______ 20___ X______________________________________
Metrics of success by 2050:
Desired way of being:
How I’ll make It happen:
I will be known in my community as the global leadership person.
Building a movement that creates an abundant, sustainable, and joyous world for all people
1) All people have access to the 6 BHNs 2) 95% energy from renewable sources 3) 0 major conflicts globally as defined by the UCDP 1) Build Connect into a global platform for connecting communities
2) Build Hive into a global community of extraordinary leaders who are creating a better world.
Joyous, happy, fully alive
90 Day Action Plan
10 year goals Lifetime goals
1. 1 million people us Connect each day to stay connected
2. Publish a book about making a difference in the world for initial feedback
3. Hold 4 Hive Global Leaders Programs in San Francisco
4. Visit South America for the first time
5. Build habit of meditating 6x per week
6. Deepen relationship with Nadia
1. 10 million people use Connect each day to stay connected
2. Grow Hive to 10 profitable global locations
3. Train others to hold Hive gatherings
4. Build a relationship with an amazing life partner
5. Travel widely to explore perspectives on human society, spirituality, and human
potential
6. Publish a book on creating an extraordinary life, world, and company
1. Be an extraordinary partner and father
2. Catalyze a movement that creates an abundant, sustainable, and joyous world
3. Create a Hive in 1000 cities around the world
4. Create the world’s most impactful network of global leaders
5. Explore widely and be a lifelong learner
6. Live a joyous, happy, and fully alive life
1 Year Goals
1. Hold September 2014 Hive Global Leaders Program
2. Get Connect to 1,000,000 users
3. Prepare Connect for Series A
4. Meditate daily
5. Travel with Nadia to England
6. Publish Everything I Learned By 30 Presentation
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EXERCISE: CREATING YOUR LIFE PURPOSE
Once you have it Share your life plan With five friends & mentors
In the next 14 days AND GET THEIR FEEDBACK AND INPUT THEY MAY BE ABLE TO CONNECT YOU TO PEOPLE WHO CAN HELP
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EXERCISE: CREATING YOUR LIFE PURPOSE
When you meet people you should be able to CLEARLY express
Your life purpose in 15 WORDS or less WITH AUTHENTIC EXCITEMENT IN A WAY THAT moves people WHEN YOU TELL THEM
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A quote
“Each of us must make the personal choice to be a hero or not, to be committed to something bigger than ourselves or not, to go beyond the way we “wound up being” and have the purpose of our lives and our careers be about something that makes a difference or not, in other words, to be a leader or not.”
– Werner Erhard
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Lessons from my 20s
VISION PART I, Section 3
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A POEM on life
“Short this life is, just one I’ve got, finite in tenure, whether I like it or not. Dead is embracing fear, replacing dreams with ‘I cannot.’ Alive is taking a new step, having a shot. I will do the impossible, I will change the world, I will give hope to a despairing nation, I’ll give bread to a starving girl. I’ll break all the records, I’ll do what’s never been done, I’ll give and know love, I’ll be a billionaire of fun. What will you do with today, this hour, this minute? Will you fill with dull and fear or will you live it? I will not tolerate any foe no matter weapon or munition, especially if that foe is within me in the form of fear or lack of ambition. Short this life is, just one I’ve got. Finite in tenure whether I like it or not. As sure as the eagle I will fly, ’cos I choose, I choose to live until I die.”
- A.E. BALLAKISTEN
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VISION
Great leaders
Have a clear purpose
And a clear vision of
the world they are
Working to create
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VISION BOARds
let’s start by talking about
VISION Boards
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VISION BOARds
When GOALs & DREAMS BECOME VISUALIZED THEY BECOME ONE BIG LEAP
CLOSER TO BECOMING REAL
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Vision board exercise
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VISION BOARDS
VISION BOARDS ARE WHITE POSTER BOARDS COVERED WITH CUT OUT IMAGES
OF WHAT YOU WANT TO SEE IN YOUR FUTURE
AND THE WORLD’S FUTURE
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MY 2009 VISION BOARD
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A Friend’s 2014 Vision board
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VISION BOARD CREATING PROCESS
SEARCH FOR & PRINT OUT AT LEAST 5 IMAGES IN EACH OF THE BELOW CATEGORIES
FAMILY HEALTH EDUCATION TRAVEL Adventure
CAREER FINANCIAL QUOTES VALUES ART
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VISION BOARD CREATION PROCESS
ONCE PRINTED & TORN OUT CUT tO SIZE THEN PASTE OR TAPE ONTO YOUR VISION BOARD
THEN SHARE IT WITH A FRIEND AND HANG IT IN YOUR BEDROOM
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VISION BOARD REFLECTION
HOW LONG HAS IT BEEN SINCE You’ve created a vision board?
DO YOU STILL HAVE IT?
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VISION BOARD REFLECTION
WHAT ARE THE INSTANCES IN YOUR LIFE IN WHICH You’VE SEEN INTENTION
TURN INTO REALITY?
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BUCKET LISTS
BUCKET LISTs ALLOW YOU TO CAPTURE YOUR DREAMS THEY ARE another way to
CREATE YOUR FUTURE
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BUCKET LISTS
YOU CAN CREATE THEM AS A LIST OR EVEN BETTER PUT THEM UP ON YOUR WALL WITH
POST-IT NOTES
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BUCKET LISTS
YOU SHOULD UPDATE YOUR BUCKET LIST ONCE PER YEAR NEAR YOUR BIRTHDAY OR THE LAST 5 DAYS OF THE YEAR
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BUCKET LISTS
HERE’S MY LIFETIME BUCKET LIST
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MY BUCKET LIST
" HELP create a JOYOUS, SUSTAINABlE, and ABUNDANT WORLD
" Take CONNECT PUBLIC ON NASDAQ
" BUILD AN INVESTMENT FUND THAT INVESTS in SOLVING MAJOR HUMAN
CHALLENGES
" CREATE A GLOBAL COMMUNITY OF EXTRAORDINARY PEOPLE WORKING
TOWARD CREATING A BETTER WORLD
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MY BUCKET LIST
" FINISH MY MBA FROM HBS
" WRITE A BOOK ON HOW TO LIVE A PASSIONATE, MINDFUl,
HEALTHY LIFE
" SOMEDAY WORK IN PUBLIC SERVICE
" SOMEDAY LIVE ON ANOTHER CONTINENT
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MY BUCKET LIST
# BUILD A COMPANY TO MORE THAN $1 Billion in SALES
# CREATE OVER 1 million jobs
# Visit 100 countries by age 50
# CLIMB MT. KILIMANJARO AND REACH UHURU PEAK
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MY BUCKET LIST
" DRIVE on NEW ZEALAND’S HIGHWAY 6
" DRIVE on THE CARRETERA AUSTRAL IN CHILE
" HANG GILDE IN RIO DE JANEIRO
" Attend The Clinton Global Initiative
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MY BUCKET LIST
" TRAVEL TO SPACE on VIRGIN GALACTIC
" MEDITATE WITH DEEPAK CHOPRA
" BE A GUEST ON THE DAILY SHOW
" SEE A CIRQUE DU SOLEIL SHOW
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MY BUCKET LIST
" SPEAK IN FRONT OF 100,000 people
" GIVE A TED TALK
" ATTEND THE WORLD ECONOMIC FORUM
" JOIN THE UN FOUNDATION BOARD OF DIRECTORS
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MY BUCKET LIST
" BE A HUSBAND WHO EMPOWERS MY WIFE TO ACHIEVE
HER WILDEST AND BOLDEST DREAMS
" BE A FATHER WHO INSPIRES HIS CHILDREN
" WATCH EVERY DISNEY AND PIXAr MOVIE WITH MY KIDS
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RELATIONSHIP BUCKET LISTS
IF YOU ARE IN A RELATIONSHIP TRY CREATING A BUCKET LIST OF THINGS YOU WANT TO
DO TOGETHER
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Nadia and my bucket List
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Bucket list exercise
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CREATING YOUR BUCKET LIST
NOW, GO AHEAD GRAB SOME POST-iT NOTES OR OPEN A GOOGLE DOC AND START MAKING
YOUR BUCKET LIST
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CREATING YOUR BUCKET LIST
WRITE DOWN ALL THE AMAZING EXPERIENCES YOU WANT TO HAVE OVER THE REST OF YOUR LIFE
AND DREAM BIG
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BUCKET LISTS REFLECTION
WHAT IS THE MOST EXCITING THING You’VE DONE IN THE
LAST YEAR?
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BUCKET LISTS REFLECTION
WHAT IS THE MOST EXCITING THING You’VE DONE IN THE
LAST 10 YEARs?
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BUCKET LISTS REFLECTION
WHAT IS THE MOST MEANINGFUL THING You’VE DONE IN THE
LAST YEAR?
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BUCKET LISTS REFLECTION
WHAT IS THE MOST MEANINGFUL THING You’VE DONE IN THE
LAST 10 YEARs?
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BUCKET LISTS REFLECTION
WHAT ONE THING, iF YOU DID IT in your life WOULD BE EXTREMELY MEANINGFUL
TO YOU?
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Lessons from my 20s
NETWORKS PART I, Section 4
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PEOPLE
WHO YOU SURROUND
YOURSELF WITH
IS WHO YOU BECOME
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PEOPLE
SURROUND YOURSELF ONLY WITH SMART, COMPETENT
& POSITIVE PEOPLE (Life is too short not to)
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SELECTING YOUR FRIENDS CONCIOUSLY
YOUR FRIENDS DETERMINE WHO YOU BECOME
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SELECTING YOUR FRIENDS CONCIOUSLY
YOU SHOULD ONLY SPEND TIME WITH
FRIENDS WHO INSPIRE YOU
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SELECTING YOUR FRIENDS CONCIOUSLY
IF YOUR FRIENDS Don’t INSPIRE YOU THEN
FIND FRIENDS WHO DO!
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BE INTENTIONAL ABOUT THE PEOPLE IN YOUR LIFE
DON’T LET CHANCE DETERMINE WHO’S IN YOUR LIFE
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What carnegie knew
ANDREW CARNEGIE’s EPITAPH SAYS
“Here lies one who knew how to get around him men who
WERE CLEVERER THAN HIMSELF”
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BE INTENTIONAL ABOUT THE PEOPLE IN YOUR LIFE
IT MIGHT TAKE 5 years to completely change up
THE PEOPLE SURROUNDING YOU BUT IT IS ABSOLUTELY
WORTH IT
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What I LOOK FOR IN MY FRIENDS
Joy Compassion Intelligence
Passion Purpose
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Intentionally SEEK OUT AMAZING FRIENDS
Random Friends Chosen Friends
vs.
A high impact life An ordinary life
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BE INTENTIONAL ABOUT THE PEOPLE IN YOUR LIFE
IF YOU Don’T LIVE IN An INTELLECTUAL CENTER
CONSIDER A MOVE
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TO AVOID MEDIOCRITY
TO AVOID BEING MEDIOCRE YOU MUST SEEK OUT PEOPLE WHO ARE NOT MEDIOCRE
AND HANG OUT WITH THEM
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Your EDUCATIONAL NETWORK
YOUR UNDERGRAD & GRADUATE SCHOOLS ARE CRITICALLY IMPORTANT NETWORKS SO PREPARE WELL AND GO TO THE
ABSOLUTE BEST SCHOOLS YOU CAN GET INTO WHILE AVOIDING GETTING INTO MOUNTAINS OF DEBT
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Your EDUCATIONAL NETWORK
• Harvard • Stanford • MIT • PRINCETON
THESE schools have some Of the best networks So if you can, attend for undergrad, Grad school, or take an exec program at
• Penn • Columbia • Yale • BROWN
• OXFORD • CAMBRIDGE • LSE • uchicago
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Your EDUCATIONAL NETWORK
KNOWLEDGE IS CRITICAL SO IF YOU CANNOT GET INTO OR AFFORD THE BEST SCHOOLS THEN STILL TAKE THE BEST COURSES FREE
On edx or COURSERA
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Your WORK NETWORK
YOUR COMPANY IS YOUR MOST IMPORTANT NETWORK SO CHOOSE YOUR COMPANY VERY CAREFULLY
OR BUILD YOUR OWN
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Your WORK NETWORK
WHY DO PEOPLE SPEND 832 WEEKS IN SCHOOL THEN SPEND <4 WeEKs
ATTEMPTING TO GET A JOB BY BLIND RESUME BLASTING?
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WHAT CHANGE WILL YOU WORK TOWARD?
IF YOU DON’T LIKE YOUR JOB FIND AN ORGANIZATION WHose MISSION
YOU’rE PASSIONATE ABOUT AND DO WHATEVER IT TAKES TO GET IN THERE
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YOUR WORK NETWORK
ONLY GO TO WORK FOR A COMPANY IF YOU DEEPLY BELIEVE IN THE CHANGE THEY ARE TRYING TO
MAKE IN THE WORLD
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YOUR WORK NETWORK
Don’t TAKE A JOB UNLESS YOU’ll BE WORKING FOR SOMEONE
YOU WILL LEARN LOTS FROM OF HIGH INTEGRITY WHO!
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THE KEY NETWORKS TO LOOK INTO
HERE ARE SOME NETWORKS
PASSIONATE YOUNG PEOPLE
SHOULD GET INVOLVED WITH
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THE KEY NETWORKS TO LOOK INTO
ASPEN INSTITUTE FELLOWS
EMPACT 100
ENTREPRENEURS’ ORGANIZATION
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THE KEY NETWORKS TO LOOK INTO
FORTUNE BRAINSTORM
HIVE
KAIROS
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THE KEY NETWORKS TO LOOK INTO
NEXUS YOUTH SUMMIT
RENAISSANCE WEEKEND
SANDBOX
SINGULARITY UNIVERSITY
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THE KEY NETWORKS TO LOOK INTO
SKOLL WORLD FORUM
SOCIAL CAPITAL MARKETS
SOCIAL VENTURE NETWORK
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THE KEY NETWORKS TO LOOK INTO
STARTINGBLOC
SUMMIT SERIES
TECH STARS
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THE KEY NETWORKS TO LOOK INTO
TED
UNREASONABLE INSTITUTE
WEF YounG GLOBAL LEADERS
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THE KEY NETWORKS TO LOOK INTO
WHITE HOUSE FELLOWS
Y COMBINATOR
YOUNG ENTREPRENEUR COUNCIL
YOUNG PRESIDENTs’ ORGANIZATION
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Your weekly roundtable
TO BUILD A STRONG SUPPORT NETWORK CREATE A WEEKLY DINNER ROUNDTABLE OF YOUR
CLOSEST 8 FRIENDS Try EVERY WEDNESDAY AT 8pm
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Programs I highly recommend for building relationships Summit holds an annual large event for top entrepreneurs, social entrepreneurs, and artists. Holds frequent gatherings at Powder Mountain in Eden, Utah.
StartingBloc holds five-day Institutes in New York, Los Angeles, D.C., Boston, and Boulder for individuals who want to make a difference in the world
I highly recommend both the Summer Graduate Studies Program (GSP) or the week-long Executive Program (EP). Focuses on using science and technology to solve major human challenges.
The Hive Global Leaders Program is a weekend program in San Francisco that brings together a community of extraordinary leaders and entrepreneurs focused on creating a better world.
Nexus holds an annual Global Youth Summit in New York City that brings together some of the top entrepreneurs, social entrepreneurs, and philanthropists
Social Innovation Summit is a two-day conference held annually in New York and California that brings together the leading minds of the social, government, and business sectors
SOCAP (short for Social Capital Markets) is one of the best conferences for bringing together people Passionate about creating positive change in the world
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EXERCISE: CREATING YOUR INNER CIRCLE
You can do the following
20 minute Exercise now
Or put a time on your calendar
To return to it
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INNER CIRCLE EXERCISE
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EXERCISE: CREATING YOUR INNER CIRCLE
ON A SHEET OF PAPER LIST
YOUR TOP 20 FRIENDS
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EXERCISE: CREATING YOUR INNER CIRCLE
NEXT, circle the names of THE 10
people WHO inspire you MOST
BASED ON WHAT THEY ARE DOING
WITH THEIR LIVES
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EXERCISE: CREATING YOUR INNER CIRCLE
Now, create a new list of 10 people
You aren’t very close with
who inspire you
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EXERCISE: CREATING YOUR INNER CIRCLE
Finally, combine the lists of 10 to create your
NEW INNER CIRCLE
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EXERCISE: CREATING YOUR INNER CIRCLE
SPEND YOUR TIME
WITH inspiring PEOPLE WHO ARE
UP TO SOMETHING BIG IN THE WORLD that will help others
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EXERCISE: CREATING YOUR INNER CIRCLE
IF YOU don’t know enough inspiring people
Who are up to something big in the world
Join the networks Listed in the networks section Of this presentation
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Lessons from my 20s
MENTORS PART I, Section 5
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TWO OPTIONS: Choose Carefully
Random Friends
No Mentors Jedi Mentors
Chosen Friends
vs.
You You
A high impact life An ordinary life
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FINDING AMAZING Mentors
VERY VERY FEW PEOPLE ACTUALLY HAVE MENTORS
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AND YET MENTORSHIP IS CRUCIAL TO LIVING THE
LIFE YOU WANT
FINDING AMAZING Mentors
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WHO MENTORS YOU DETERMINES WHO
YOU BECOME
FINDING Mentors
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FINDING Mentors
WHO MENTORS YOU DETERMINES WHICH NETWORKS YOU ACCESS
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FINDING Mentors
WHO MENTORS YOU DETERMINES WHERE IN LIFE
YOU WILL GO
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FINDING Mentors
WHY DO PEOPLE SPEND 832 WEEKS IN SCHOOL
And 0 WEEKS SEEKING AMAZING mentors?
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FINDING Mentors
No really, WHY DO PEOPLE SPEND 16 years IN SCHOOL
And No time looking For mentors?
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FINDING Mentors
SO, HOW DO YOU FIND MENTORS? AMAZING HIGH-INTEGRITY
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FINDING MENTORS WITHIN NETWORKS
ONE OF THE BEST WAYs
IS BY JOINING THE ORGANIZATIONS LISTED IN THE NETWORKS SECTION OF THIS PRESENTATION
TO MEET AMAZING MENTORS
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KEEP EMAILS to potential mentors SHORT
The higher the chance Of a reply
the shorter your emails to very busy people are
TRY EMAILS WITH JUST 1-2 sentences and you’ll be amazed at the reply rates
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EXAMPLE EMAIL TO A potential MENTOR
WHAT MOST PEOPLE SEND: WHAT YOU SHOULD ACTUALLY SEND:
Sally--I’m also really passionate about [ex: solar panel efficiency]. What do you [insert short relevant question]? Best, Your Name
What a busy professional thinks who gets this: “Don’t have enough time to reply to this. Maybe I’ll get back to this later.”
What a busy professional thinks who gets this: “I’m glad they respect my time. Will only take 30 seconds to reply so might as well do it now.”
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RESEARCH AMAZING PEOPLE
ANOTHER WAY IS TO USE THE INTERNET TO FIND PEOPLE WHO • ARE BRILLIANT & CARING • ARE 10-20 YRS AHEAD OF YOU • SHARE SIMILAR PASSION
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RESEARCH AMAZING PEOPLE
FIND 20 POTENTIAL MENTORS WHO ARE “YOU”
IN 15 YEARS
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CONVINCING SOMEONE TO MENTOR YOU
AND CONVINCE 2 of THEM THAT you’RE WORTH
INVESTING TIME INTO
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CONVINCING SOMEONE TO MENTOR YOU
IDEALLY GET INTRODUCED TO THEM BY ONE OF THEIR
TRUSTED CONNECTIONS
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GET IN TOUCH VIA TWITTER EMAIL, LINKEDIn, or fedex OR BY SHOWING UP AT THEIR OFFICE IF NEEDED AND ASKING TO SPEAK WITH THEM
GETTING IN TOUCH WITH MENTORS
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GETTING IN TOUCH WITH MENTORS
SEND THEM A BULKY FEDEX PACKAGE
IF YOU MUST
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GETTING IN TOUCH WITH MENTORS
IMPORTANT PEOPLE LIKE OPENING
FEDEX PACKAGES
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MESsAGES BUSY PEOPLE RECEIVE MONTHLY
EMAILS: 5,000 TEXTS: 1,000 LETTERS: 500 Linkedin: 50 Twitter: 30 FEDEX: 10
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USE TWITTER TO GET IN TOUCH WITH WELL KNOWN PEOPLE
IMPORTANT PEOPLE ALSO LIKE
@Messages on Twitter
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BE KINDLY PERSISTENT
MOST PEOPLE GIVE UP AFTER SENDING 1 EMAIL
Don’T GIVE UP This is your life we’re talking about here
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BE KINDLY PERSISTENT
PURSUE THEM REPEATEDLY IN A KIND WAY
They will almost always respect your persistence
• EXPLAIN YOUR PASSION FOR THE SAME THING
• Explain the “why” behind what you do
• Explain how you MAY BE ABLE TO HELP THEM
• Be 100% authentic
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BE KINDLY PERSISTENT
STAY AT IT FOR 6 Months IF THAT’s
WHAT IT TAKES
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BE KINDLY PERSISTENT
THESE ARE PEOPLE WHO CAN CHANGE CHANGE YOUR WHOLE LIFE
DO WHAT IT TAKES
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START SLOW if needed with potential mentors
Most people will eventually Agree to a coffee or lunch But if not, ask to start with 1-2 quick Questions via email
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Then stay in touch every 8 weeks with quick emails
AT YOUR FIRST MEETING WITH A MENTOR…
BE AUTHENTIC BE SUPER INFORMED about them BUILD TRUST
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BUILDING THE RELATIONSHIP WITH A MENTOR
GO TO THE SAME EVENTS DEVELOP THE RELATIONSHIP
SEND VERY BRIEF QUESTIONS ON EMAIL EVERY COUPLE MONTHS
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BUILDING THE RELATIONSHIP WITH A MENTOR
GO TO THE SAME EVENTS DEVELOP THE RELATIONSHIP
SEND VERY BRIEF QUESTIONS ON EMAIL EVERY COUPLE MONTHS
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Three keys to achieving your dreams
1. SURROUNd YOURSELF WITH THE RIGHT PEOPLE
2. INVEST IN YOUR formal and informal
EDUCATION
3. WORK FOR A COMPANY whose mission you are
deeply passionate about
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Three keys to achieving your dreams
DO THESE THINGS AND You’ll BE ON TRACK TO ACHIEVE YOUR MOST
AMBITIOUS GOALS
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Learning to be a jedi
JOIN NETWORKS of other inspiring people LIVE A PURPOSE DRIVEN LIFE SURROUND YOURSELF WITH AMAZINGLY SMART & CARING PEOPLE And YOU WILL BE ON THE PATH TO BECOMING A JEDI
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BE A PADAWAN like in star wars
Padawan (n.) “An individual on a CONSCIOUS journey to become a jedi”
PADAWAN IS SANSKRIT FOR “learner”
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What IS A JEDI?
Jedi (n.) “A highly competent, super-connected, and deeply
compassionate SOUL & SYSTEMS THINKER, working at the highest
levels of societal structuring, whose passion has been fully
unleashed toward achieving an identified deeply meaningful
mission that awakens them with extraordinary focus and
immense energy daily.”
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The jedi checklist
# Highly competent
# Super-connected
# Deeply compassionate
# SYSTEMS THINKER
# Working to IMPROVE THE WORLD
# Identified meaningful mission
# Passion unleashed on achieving mission
# Extraordinary focus
# Immense vibrant energy
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FINDING A JEDI MENTOR
NOW YOU KNOW THE TRUE MEANING OF FINDING YOURSELF a JEDI MASTER MENTOR
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FINDING A JEDI MENTOR
Who’S YOUR JEDI MENTOR YOUNG PADAWAN?
Don’t let this be the CASE 6 months from now
Wait, YOU Don’T hAVE ONE?
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STAND ON THE SHOULDERS OF GIANTS
ONE CAN SEE MUCH FURTHER BY STANDING ON THE SHOULDERS OF GIANTS
SO FIND MENTORS WHO Are GIANTS iN THEIR FIELD And stand on their shoulders
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Lessons from my 20s
HAPPINESS PART I, Section 6
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THE GREAT ENGIMA OF LIFE
TO KNOW HAPPINESS ONE MUST KNOW
SUFFERING
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THE IMPORTANCE OF CRUCIBLE MOMENNTS
IN ORDER TO TRULY FEEL THE HEIGHTS OF ONE MUST HAVE FELT the DEPTHS OF
SUFFERING
HAPPINESS
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CHOOSING TO BE HAPPY
“A PERSON CAN MAKE HIMSELF HAPPY OR MISERABLE regardless of what IS HAPPENING OUTSIDE just by changing
THE CONTENTS OF CONCIOUSNESS”
- MIHALI Csikszentmihali!
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OVERCOMING OBSTACLES
- MIHALI Csikszentmihali!
“THE ABILITY TO PERSERVERE DESPITE OBSTACLES & SETBACKS IS THE MOST IMPORTANT TRAIT
FOR SUCCEEDING IN LIFE.”
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FORGING YOUR CHARACTER
THE MORE DIFFICULTIES & CRUCIBLE MOMENTS YOU HAVE FACED
THE STRONGER YOUR RESOLVE WILL BE
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FORGING YOUR CHARACTER THE HOTTER THE TEMPERATURE THE IRON IS FORGED IN
THE STRONGer THE STEEL
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The element of struggle in life
SO DON’T BE AFRAID
OF STRUGGLE
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Don’t be afraid of struggle
OFTEN THE GREATEST INDIVIDUALS ARE THOSE WHO HAVE
BEEN THROUGH THE MOST
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My struggles
• MY MOM’s death FROM BRAIN CANCER in 2012
• CHRONIC NECK PAIN FROM A 2001 CAR CRASH
• HELpING MY DAD THROUGH PROSTATE CANCER
• Dealing with a 65 person layoff following the sale of icontact
We all go through really hard times.
It is our response to the crucible moments that can make us great.
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FORGING YOUR CHARACTER
HAPPINESS in many
Cases is A CHOICE
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FORGING YOUR CHARACTER
LEARN TO CONTROL WHAT is IN YOUR THOUGHTS &
CONSCIOUSNESS
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HAPPINESS
TRUE HAPPINESS OCCURS WHEN YOUR INHIBITIONS OF REVEALING YOUR TRUE SELF ARE EXTINCT!
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HAPPINESS
TRUE HAPPINESS OCCURS WHEN YOU CAN FULLY EXPRESS YOURSELF & BRING YOUR FULL PASSION INTO YOUR DAILY WORK
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HAPPINESS
TRUE HAPPINESS OCCURS WHEN YOur Daily work IS ACTUALLY THE the greatest CONTRIBUTION you can make TO HUMANITY WITH THE GIFTS YOU HAVE
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HAPPINESS
TRUE HAPPINESS OCCURS WHEN
YOU ARE MAKING A DIFFERENCE IN THE LIVES OF OTHERS
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HAPPINESS
TRUE HAPPINESS OCCURS WHEN
YOU ARE MAKING A DIFFERENCE IN THE LIVES OF OTHERS
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HAPPINESS
HAPPINESS Comes from being
Completely present And in flow in a moment
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HAPPINESS
THERE IS NEVER ANYTHING ELSE OTHER THAN THIS
moment
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THE PAST & THE FUTURE
Past PRESENT FUTURE
Most people spend their mental energy thinking about either the past
Or thinking about the future
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FOCUS ON THE PRESENT
Past PRESENT FUTURE
Happiness comes when you focus on enjoying the present moment
and don’t worry about what happened in the past and whatever
may come in the future.
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Your mindset affects your happiness
your mindset is your how you interpret What happens in your life
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Your mindset affects your happiness
You can decide whether you want to Live in an ordinary world Full of stress & Suffering Or an extraordinary world Full of wonder and possibility
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THE ORDINARY “DEFAULT” WORLD
The Ordinary
World
anxiety
fear
scarcity
danger
anger
mistrust
reason
disappointment
resignation
manipulation
victimization
desperation
frustration
upset
defensive
limitation
cynicism
greed
insecure
inaction
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THE EXTRAORDINARY WORLD is created by a mindset shift
happiness
fun
caring
inventive
adventurous
acceptance
laughter
self-expressed
generous
possibility
unreasonable
compassionate
empathy
authenticity
openness
unstoppable
creativity
fearless
kindness
caring
The Extraordinary
World
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LIVING WITH JOY
LIVING WITH JOYFULLNESS and ease is a choice That you can make
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Programs I highly recommend for personal growth
Includes the Landmark Forum, Advanced Course, and Self-Expression and Leadership Program Available now in 24 countries.
Includes the Happiness Program and the Art of Silence Program. Now operating in 152 countries.
I highly recommend taking Inner Engineering program, available in both India and the USA. Also available online at www.innerengineering.com though in-person is best.
A three-day summer camp 2 hours north of San Francisco in which you lock your phones/laptops away and play joyfully like you’re a child again.
The Hive Global Leaders Program brings together a community of extraordinary leaders and entrepreneurs focused on creating a better world. Help every few months in SF. I am the Chairman of Hive.
Burning Man is an annual event in the Nevada desert the week before Labor Day in late-August. I’ve now been twice and I highly recommend everyone go.
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Meditation exercise
You can do the following
10 minute Mindset exercise now
Or put a time on your calendar To return to it
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EXERCISE On mindset
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Exercise: Mindset shift
On a sheet of paper Write down for 5 minutes how your life would be Different if you never worried And were never anxious
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Exercise: Mindset shift
On a sheet of paper Write down for 5 minutes All the things that are holding you Back that you can just give up And choose to put in the past
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Lessons from my 20s
health PART I, Section 7
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HEALTH
At age 25 I WAS A STRESSED OUT 208 pound East coast CEO
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HEALTH
My mind often raced I even had two anxiety Attacks from the stress
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HEALTH
Now At age 30 I AM A much calmer 158 pound west coast CEO
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HEALTH LEARNINGS
Between age 24 and 30 I… Here’s EXACTLY WHAT I DID…
- Lost 50 pounds - Fixed BAD neck pain - Went from Anxious to calm
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THE TWO THINGS I DID
1. Changed what I ate 2. STARTED doing a 30 minute per
morning yoga and Breathing home practice
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WHAT YOU EAT IS WHO YOU BECOME
THE FOOD WE EAT LITERALLY BECOMES US As nutrients are absorbed and used
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CHANGING MY DIET MADE A HUGE IMPACT
What I’d OFTEN Eat in 2008 What I OFTEN Eat Today
Bread Hot pockets Subs Pasta Pretzels Fries Mayonnaise Beer/Wine/Soda Coffee
(I was eating way too many carbs) (I cut out 80% of the carbs)
Chicken / Steak / Fish Quinoa / Lentils / Beans / Tofu / Tempeh Eggs Almonds Kale / Brussels Sprouts / Broccoli / Avocado Sweet potatoes / carrots / CHIA Seeds BANANas / Berries Protein shakes Water / Tea / Almond milk
Cut most of this stuff out!
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DIET MAKES THE DIFFERENCE
A COMBINATION OF HIGH CALORIE & HIGH-SALT DIET WITH LITTLE PHYSICAL ACTIVITY AND INCREASED OBESITY GREATLY DECREASEs THE ABILITY OF THE BODY TO CURE ITSELF FROM CANCEROUS CELLS
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REDUCING YOUR RISK OF CANCER
78% of CANCER IS CAUSED BY TOBACCO, DIET, SUNLight, and alcohol
30%
35%
10%
10%
7%
4% 3%
Tobacco Diet
Sunlight Other
Viruses Occupational
Alcohol
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Don’t smoke
TOBACCO CAUSES 30% of CANCER CASES AND CONTAIN 4000
HARMFUL CHEMICALs AND TOXIC CARCINOGENS
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MENTAL HEALTH
IN A FAST-mOVING ORGANIZATION MENTAL HEALTH IS JUST AS
IMPORTANT AS PHYSICAL HEALTH
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MENTAL HEALTH
Be sure you’re taking time To eat well, sleep well
And get into nature Away from your laptop and phone
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MENTAL HEALTH
At least every 3 months Do a complete digital detox
With no phones/laptops For at least 72 hours
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Lessons from my 20s
MEDITATION PART I, Section 8
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MEDITATION
I USED TO THINK MEDITATION WAS Complete bs
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MEDITATION
I had no idea how to
Do it right
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MEDITATION
I thought meditation
Meant just sitting there
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MEDITATION
WHEN I LEARNED HOW TO BREATHe PROPERLY DURING MEDITATION
EVERYTHING CHANGED
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MEDITATION
MY MIND BECAME CLEAR AND I WAS WAY MORE CALM
& EFFECTIVE AT WORK
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MEDITATION
I took two 4 day programs on meditation Both I’d highly HIGHLY recommend
1. Art of living happiness program
2. ISHA Foundation inner engineering course
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MEDITATION
I took the 4 day
ISHA FOUNDATION INNER ENGINEERING COURSE
In coimbatore, INDIA IN January 2014
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MEDITATION
I also took the 4 day
Art of living happiness program
In palo alto in March 2014
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YOGA
THE BASIC YOGA TECHNIQUE “SUN SALUTATION” greatly reduced my neck pain
See http://bit.ly/sunsalutations
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MEDITATION
I now do three “sun salutations”
Every morning and my neck pain is
85% better
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MY CURRENT Morning 30 minute routine…
3 sun salutations 5 mins
Alternate nostril breathing 2 mins
Sudarshan kriya Breathing 15 mins
KEEPING EYES CLOSED 5 mins
You can learn these routines through the Art of Living Happiness Program which is $395 and
available in many countries and cities
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MEDITATION
When I meditate with my eyes cLOSED
I am able to see a deeply calming
Purple light (Strange I know, but true)
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MEDITATION
There are many good techniques
And I am only at the beginning
of the learning process
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SILENT RETREATS
In June 2014 I did a 3 day
art of living silence course
I found that spending 3 days in silence
Was extremely beneficial to calming the mind
And made me way more productive at work
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SILENT RETREATS
After the 3 days in silence
I found myself becoming naturally
More collaborative at work
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SILENT RETREATS
Here are some of the most magnificent
Silent & ZEN retreats you can visit
Art of Silence - http://www.artofliving.org/art-silence-program
Vipassana - http://www.dhamma.org/
Green Gulch – http://www.sfzc.org/ggf/
Esalen - http://www.esalen.org/
Vendata Society - http://sfvedanta.org/retreat/
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MEDITATION
THEse four BREATHING TECHNIQUEs have been very helpful to me Here’s where you can learn a bit more…
Bhastrika - http://bit.ly/bhastrikademo
Three stage pranayama - http://bit.ly/3stagebreathing
Alternate nostril breathing - http://bit.ly/alternatenostrils
Rapid nostril breathing - http://bit.ly/rapidnostril
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MEDITATION Programs I RECOMMEND
Includes the Happiness
Program and the Art of Silence
Program. Now operating in 152
countries.
Take the Inner Engineering
program, available in both India
and the USA. Also online at
www.innerengineering.com though
in-person is best.
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Meditation exercise
You can do the following 10 minute
Meditation exercise now
Or put a time on your calendar To return to it
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Meditation exercise
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EXERCISE: alternate nostril breathing
First watch the video on
Alternate nostril breathing
Now, sit on the ground cross legged
Follow the video instructions for 5 minutes
Afterward, make note of how your brain feels
(bit.Ly/alternatenostrils)
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Exercise: Sun salutation
Get on the floor and actually try to do 2 sun salutations
Video at http://bit.ly/sunsalutationvideo
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Lessons from my 20s
HABITS PART I, Section 9
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A quote on habits
“Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.”
� Mahatma Gandhi
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A QUOTE ON HABITS
� ARISTOTLE
“We are what we
repeatedly do.
Excellence, then, is not
an act, but a habit.”
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A QUOTE ON HABITS
� Stephen Covey
“Our character is basically a
composite of our habits. Because
they are consistent, often
unconscious patterns, they
constantly, daily, express our
character.”
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HABITS
WHAT YOU DO REPEATEDLY
CREATES YOUR LIFE
And your results
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HABITS
THERE IS GREAT POWER in
HACKING YOUR
HABITS
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HABITS
IF You’re not getting the
RESULTS YOU WANT IN LIFE
ADJUST YOUR HABITS
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HABITS in my life I am cultivating
BE POSITIVE Always DO WHAT I SAY I’ll DO UNDERCOMMIT / OVERDELIVER BE TRANSPARENT GET TRACK OF TASKS REVIEW GOALS ANNUALLY PLAN FOR THE FUTURE SEEK OUT AMAZING PEOPLE IDENTIFY MENTORS Give hugs not handshakes SHARE WHAT I LEARN WITH OTHERS
STAY IN TOUCH WITH my NETWORK CONTINUALLY LEARN READ WATCH EDUCATIONAL VIDEOS EXERCISE EAT HEALTHY FOODS SPEND TIME IN NATURE DAILY MEDITATION COMMUNICATE OFTEN Watch <30min/wk of tv SEEK TO UNDERSTAND FIRST
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HABITS
WHAT ARE some NEW HABITS IN
YOUR LIFE THAT YOU
WANT TO ADD?
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habits exercise
You can do the following 10 minute
habits exercise now
Or put a time on your calendar To return to it
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HABITS Exercise
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EXERCISE: HABITS
FIRst, Get a sheet of paper and
And write down all your HABITS
you want to stART
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EXERCISE: HABITS
Now write down all
All the habits
you want to stOP
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EXERCISE: HABITS
Now write down all
All the habits
you want to CONTINUE
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EXERCISE: HABITS
Next, write down bullets of how
You’d be Be better off if you
IMPLEMENTED YOUR new habit system
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EXERCISE: HABITS
NOW make a weekly plan to
ACTUALLY Implement the HABITS IN YOUR LIFE THAT
CREATE THE RESULTS YOU WANT
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EXERCISE: HABITS
FINALLY, open up your calendar
And put your new habits
ACTUALLY ON YOUR CALENDAR on REPEAT
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Lessons from my 20s
COMMUNICATION PART I, Section 10
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HUMAN COMMUNICATION
WHEN YOU TALK TO PEOPLE
LOOK THEM IN THE EYE
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HUMAN COMMUNICATION
WHEN YOU GREET PEOPLE BOUND UP TO THEM WITH ENERGY & EXCITEMENT
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HUMAN COMMUNICATION
WHEN YOU TALK TO PEOPLE
SMILE
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HUMAN COMMUNICATION
WHEN YOU TALK TO PEOPLE
BE JOYOUS NOT STRESSED
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HUMAN COMMUNICATION
ALWAYS LET YOUR
PASSION SHINE THROUGH
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HUMAN COMMUNICATION
RESTATE THE OTHER PERSON’S Point BEFORE YOU ADD
YOUR OWN
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HUMAN COMMUNICATION
USE THIS FORMULA
RESTATE THEIR POINT and ONLY THEN… ADD YOUR OWN POINT
WHEN TALKING WITH PEOPLE..
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HUMAN COMMUNICATION
NEVER NEVER NEVER START A SENTENCE WITH BUT
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HUMAN COMMUNICATION
INSTEAD OF THE WORD BUT USE THE WORD AND
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HUMAN COMMUNICATION
AVOID SAYING THE WORDS UM and UH
(Instead just pause)
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HUMAN COMMUNICATION
AVOID THE INFORMAL uSAGE OF THE WORD LIKE
(Ex: “She was like oh my gosh I can’t believe she did that” or “I walked like 30 miles”
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DIFFICULT CONVERSATIONS
ANYTIME YOU HAVE SOMETHING DIFFICULT TO COMMUNICATE DO IT IN PERSON
(Or at worst, on Google Hangout or Skype)
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KEEP EMAILS SHORT
AVOID SENDING
EMAILS WITH MORE THAN
5 sentences
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KEEP EMAILS SHORT
AVOID SENDING
EMAILS WITH
EMOTIONAL CONTENT
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GIVING PRESENTATIONS
FOR PRESENTATIONS you will give to others NEVER HAVE MORE than
15 WORDS ON A SLIDE
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GIVING PRESENTATIONS
IDEALLY USE 1 powerful PICTURE AND NO MORE THAN
10 WORDS
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GIVING PRESENTATIONS
OR SOMETIMES NO WORDS
AT ALL
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Lessons from my 20s
MONEY PART I, Section 11
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The middle class versus the rich
“Individuals in the middle class accumulate more debt as they
become more successful. A pay raise qualifies them to borrow
more money from the bank so they can buy personal items like
bigger cars, vacation homes, boats, and motor homes. Their
wage income comes in and is spent on current expenses and
only then on paying off their personal debt. So as their income
increases, so does their personal debt. This is what we call the
rat race.” - Robert kiyosaki
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The rich have their money work for them
“The rich have their assets work for them. They have gained control over their expenses (by saving and investing money each month) and focus on acquiring or building assets. Their businesses pay more of their expenses, and they have few, if any, personal liabilities.” - Robert Kiyosaki
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WHICH FINANCIAL PATH WILL YOU TAKE?
THERE ARE TWO SEGMENTS OF PEOPLE IN THE WORLD
WHICH SEGMENT DO YOU WANT TO BE IN?
PEOPLE WHO PAY INTEREST ON LOANS AND WORK FOR COMPANIES
PEOPLE WHO RECEIVE INTEREST ON LOANS and own PARTS Of companies
1
2
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THE TOPIC OF MONEY
MONEY IS A REALLY IMPORTANT TOPIC
TO UNDERSTAND
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THE TOPIC OF MONEY
MONEY IS SIMPLY A STORE OF VALUE WHICH ENABLES TWO PARTIES TO EXCHANGE EVEN IF they cannot barter
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YOUR NET WORTH
INCLUDING ALL YOUR SAVINGS, INVESTMENTs
AND DEBT WHAT IS YOUR
NET WORTH RIGHT NOW?
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AVERAGE & MEDIAN NET WORTH IN THE USA
THE AVERAGE NET WORTH of AN AMERICAN IS
$301,140 Source: Credit Suiss Global Wealth Report, 2013
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AVERAGE & MEDIAN NET WORTH IN USA
BUT THE MEDIAn Net worth of AN AMERICAN IS
$44,911 Source: Credit Suiss Global Wealth Report, 2013
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ARE YOU AHEAD OR BEHIND? Let’s say your goal IS TO have a net worth of $1M by Age 60 IF YOU start at age 20 and progress linearly you’d need to be at $250k by 30
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Money compounds Fortunately, money compounds, so you actually only need to Be at $70,000 in net worth by age 30 to be on track for $1M in net worth by 60
Assumes you save $5,000 per year starting at age 20, and you invest iat a 7% after inflation return
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3 Key Lessons about Money
HERE ARE THREE KEY LESSONS
ABOUT MONEY
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3 Lessons about Money
SPEND LESS MONEY THAN YOU EARN
EVERY MONTH
1
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3 Lessons about Money
2 NEVER GO INTO DEBT FOR SOMETHING THAT YOU DO NOT NEED
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3 Lessons about Money
3 SAVE EARLY IN LIFE AS the law of compound INTEREST HELPS A LOT
OVER TIME
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EASY IN THEORY
THESE 3 LESSONS may sound extremely basic
YET still so many people
Go into debt for things they don’t need
and frequently spend
more than they earn
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THE 6 STEPS TO BUILDING WEALTH
HERE ARE SIX STEPS TO BUILDING
WEALTH
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THE 6 STEPS TO BUILDING WEALTH
These 6 steps are easy to Understand but Most people
Don’t do them
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THE 6 STEPS TO BUILDING WEALTH
Calculate how much you Earn after taxes each month
1
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THE 6 STEPS TO BUILDING WEALTH
2 ENSURE YOUR ARE SPENDING LESS Than you earn after taxes Each month Monthly income after tax
$4000 $3000
Monthly spending
�!
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THE 6 STEPS TO BUILDING WEALTH
3 PAY OFF all Your DEBT Starting with the highest Interest rates first
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THE 6 STEPS TO BUILDING WEALTH
4 Start Saving $1,000 each month
(This step, in practice, is often the hardest, yet the most important)
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THE 6 STEPS TO BUILDING WEALTH
5 After building up 3 months Of salary in your savings Account, start investing
Start investing $1000 per month as early as you can in
life
Do this consistently for 30 years and you’ll have
$1 million
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THE 6 STEPS TO BUILDING WEALTH
6 THEN USE THE CASH FLOW FROM YOUR INVESTMENTS TO MAKE MORE INVESTMENTS
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The six steps to building wealth
1. Calculate your after tax income
2. Be sure you’re SPENDING LESS THAN YOU MAKE
3. PAY OFF your DEBT
4. BUILD UP 3 months of SAVINGS
5. Start investing
6. THEN Re-INVEST THE RETURNS
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Becoming FINANCIALLY INDEPENDENT
THERE ARE TWO MAIN WAYS TO BECOME A MILLIONAIRE
1) Build a business 2) Or Save & Invest wisely for 30 years
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Becoming FINANCIALLY INDEPENDENT
If entrepreneurship isn’t for you… Here’s how to become a millionaire Automatically
1. Save $1000 per month 2. Invest it at a 7% after inflation
return 3. Don’t take any out for 30 years
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WHAT You’LL HAVE IF YOU SAVE & INVEST
Monthly SAVINGS
20 Yrs 25 Yrs 30 Yrs 35 Yrs 40 Yrs 45 Yrs 50 Yrs
$1,000 $0.52M $0.81M $1.22M $1.81M $2.64M $3.82M $5.50M
$2,000 $1.05M $1.63M $2.45M $3.63M $5.29M $7.65M $10.99M
$3,000 $1.57M $2.44M $3.68M $5.44M $7.94M $11.47M $16.49M
$4,000 $2.09M $3.26M $4.91M $7.25M $10.58M $15.29M $21.97M
ASSUMES 7% AFTER INFLATION ANNUAL RETURN FROM INVESTING | ADD ADDITIONAL TIME TO PAY OFF ANY CURRENT DEBT
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My journey to financial independence
I was born in 1984. I grew up in a middle class
American family. My dad was an epsicopalian
minister from pennsylvania. My mom was a
part-time social worker from England. Our
family earned about $40,000 per year.
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I was very fortunate to
Have two parents who
Supported Me and encouraged
me to Follow my dreams
My journey to financial independence
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I started my first business at 11
Helping senior citizens in florida
use the internet for $5/hour
My journey to financial independence
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I started getting into
Web development
In 1996 when I was 12
My journey to financial independence
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At16 (back In 2000) I was a NORMAL TEENAGER GROWING UP IN
bradenton florida earning AROUND
$3000/yr AS A PART TIME WEB developer
My journey to financial independence
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Then I read two books that changed my life and opened My eyes to a whole new world
2. Think And Grow Rich 1. Rich Dad Poor Dad
My journey to financial independence
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After reading these two books at 16
I set an ambitious goal to build a
Company to $1 Million in sales by
Age 21
My journey to financial independence
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From age 16 to 21
I worked extremely hard
To make this goal real
My journey to financial independence
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At 18 While in college at unc I
started Icontact and by 2005
We reached $1 Million in sales
When I was 21
My journey to financial independence
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We then raised venture capital
And hired a strong
Executive team and grew to
$50M in annual sales
My journey to financial independence
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in 2012 we sold icontact for $170 million to a software company called vocus. I was 27. I decided to go back to school at harvard business school for an mba while working on a new start-up called
connect
My journey to financial independence
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Anything is possible
I found that anything was possible if I: • set my mind to it
• worked really hard to make it happen
• surrounded myself with positive people
who helped me Grow & Learn
• Cared about customers & Employees
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Creating your financial plan
So that was my story
over the last 18 years
Now let’s talk about
You
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Creating your financial plan
18 years from now, your financial
Situation will be a function of the plan
you put in place And the actions you take
today
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Creating your financial plan
Here’s how to create a basic
Financial plan
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Financial plan exercise
You can do the following 30 minute
Financial plan exercise now
Or put a time on your calendar To return to it
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FINANCIAL PLAN EXERCISE
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EXERCISE: Creating a basic financial plan
1. Calculate your current monthly income after taxes
2. Calculate your current total monthly expenses
3. Add up your savings, investments, and other assets
4. Calculate the total amount of debt you have
5. Set a goal for your monthly income and expenses 2 years
from now
6. Use these figures to fill out the sheet on the next page
This exercise should take about 30 minutes. You can do it now or come back to it.
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Exercise: Creating A BASIC Financial Plan
Assets Debts
Income Expenses
Financial Plan of __________
Signed X__________________________ this ____ day of _____ 20_____
Net Worth
Cashflow
Income Expenses Cashflow
Present Monthly
24 Months From Now Monthly Goal
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Creating your financial plan
FiLLING out your one-page
Financial plan Will be helpful
As we move into the next section
On investing
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Lessons from my 20s
INVESTING PART I, Section 12
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LEARNING HOW TO INVEST
saving MONEY is the first step
Learning how to invest IT is the second
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Stocks and bonds
THERE ARE TWO TYPES OF INVEStMENTS
STOCKs & BONds
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BONDS
BONDS are loans to other organizations IN WHICH YOU EARN A FIXED INTEREST RATE RETURN
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BONDS
BONDS usally pay annual interest Between 0.25% and 15%
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BONDS
THE RISKIER THE BOND THE HIGHER THE INTEREST RATE PAID
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STOCKS
STOCK is Partial OWNERSHIP of a company Which entitles the owner To part of the profits of a company
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STOCKS
WITH STOCKS YOU MAKE
MONEY WHEN THE VALUE
OF THE COMPANY GOES UP
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STOCKS
THE VALUE OF A COMPANY
GOES UP WHEN THE
Company’s profits go up
(or are expected to go up)
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STOCKS
THE VALUE OF A COMPANY
GOES down WHEN THE
Company’s profits go Down
(or are expected to go down)
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DIFFERENT TYPES OF STOCKS AND BONDS
Mutual Funds Index Funds/ETFS Small Cap Stocks MID CAP STOCKS LARGE CAP STOCKS VALUE STOCKS GROWTH STOCKS Emerging Market Stocks options VENTURE capital FUNDS PRIVATE COMPANIES
STOCKS
Savings Accounts Treasury Bonds Municipal Bonds Corporate Bonds P2p LENDING
BONDS
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HOW TO BECOME A MILLIONAIRE in 30 years
HERE IS A SIMPLIFIED EXAMPLE OF HOW YOU CAN HAVE
$1M in 30 years
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HOW TO BECOME A MILLIONAIRE in 30 years
To have $1m in 30 years SAVE $1k every month
AND INVEST IT Assumes a 7% per year after inflation annual return
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HOW TO BECOME A MILLIONAIRE in 20 years
To have $1m in 20 years SAVE $2k every month
AND INVEST IT Assumes a 7% per year after inflation annual return
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AVERAGE INVESTMENT RETURNS
HERE IS A TABLE OF AVERAGE YEARLY RETURNS BY
TYPE OF INVESTMENT
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AVERAGE INVESTMENT RETURNS
Investment Type Approx. Avg. Annual Return After Inflation (2.8%)
Savings Accounts 0.10% -2.70% Certificates of Deposit 1.10% -1.70%
Treasury Bonds 2.50% -0.30% Municipal Bonds 4.50% 1.70% Corporate Bonds 6% 3.20%
LendingClub A-d Notes 8.30% 5.50%
Rental Real Estate 8.60% 5.80% Dow Jones Index Fund 11.10% 8.30%
S&P 500 Index Fund 11.30% 8.50%
LendingClub E-F Notes 11.70% 8.90%
S&P 500 and DJIA is the CAGR for the last 80 years from 1933 until 2013
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AVERAGE INVESTMENT RETURNS
PAST RETURNS Aren’t ensured in the future
But they are STILL HELPFUL to see
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LENDINGCLUB
ONE INTERESTING INVESTMENT OPTION IS
LENDINGCLUB
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LENDINGCLUB
Since 2007 LENDINGCLUB notes HAVE HAD an annual average return of
5.5% AFTER INFLATION AND
DEFAULTS
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LENDINGCLUB
And Since 2007 LENDINGCLUB “E” and “F” notes HAVE HAD an annual average return of
8.9% AFTER INFLATION AND
DEFAULTS
Past performance is definitely no guarantee of future performance, yet 8.9% after weathering a big recession in 2008-2009 is pretty good.
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MARKET INDEX FUNDS
The DJIA and S&P 500 Index funds HAVE HAD an annual average return After inflation of
8.4% Since 1933 Look up these symbols: Dow Jones Index Fund – DIA S&P 500 Index Fund - SPY
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INVESTING IN STOCKS
As a rule of thumb
Companies are usually worth
BETWEEN 5x and 20x their
ANNUAL NET PROFITS
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INVESTING IN STOCKS
Net profits is another word for
Earnings
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INVESTING IN STOCKS
The multiple of EARNINGS
A company is worth Is called a
PE Ratio
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INVESTING IN STOCKS
P/E RATIO is: PRICE
EARNINGS
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INVESTING IN STOCKS
Here’s the July 2014 p/e Ratio of A few well known companies
COMPANY PRICE TO EARNINGS RATIO
IBM 12.30 WELLS FARGO 12.74
APPLE 15.77 MICROSOFT 16.91
BANK OF AMERICA 25.25 GOOGLE 29.86
FACEBOOK 97.52
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INVESTING IN STOCKS
THE BEST MEASURE OF WHETHER A STOCK MARKET IS OVERVALUED Is the SHILLER PE RATIO
See multpl.com/shiller-pe/
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INVESTING IN STOCKS
THE AVERAGE ALL TIME SHILLER p/E RATIO IS
16.55
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INVESTING IN STOCKS
This means that on average since 1890
The average company has been valued at
16.55 times it’s an annual net profits
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INVESTING IN STOCKS
AS OF august 2014 the US STOCK market is getting overvalued THE CURRENT SHILLER PE RATIO IS
25.54
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THE STOCK MARKET IS GETTING OVERVALUED AGAIN
Time to Sell
Time to Buy
Time to Get Ready for an Historic Crash
Shiller PE Ratio for the S&P 500 1871-2014, as of August 9, 2014
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INVESTING IN STOCKS
WHEN PE RATIOs ARE
over 25 WATCH OUT for a crash
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INVESTING IN STOCKS
WHEN PE RATIOs ARE
Under 15 It’s time to LOOK AT INVESTING!
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ANGEL INVESTING
ANGEL INVESTING IS PURCHASING OWNERSHIP In EARLY STAGE
PRIVATE COMPANIES
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ANGEL INVESTING
CHECK Out ANGELLIST & FUNDABLE TO SEE EARLY STAGE COMPANIES
YOU CAN INVEST IN
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ANGEL INVESTING
ANGEL investing Is highly risky But if you invest in the right firms
Highly lucrative
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MY portfolio
Since 2009 I have invested In THESE PRIVATE COMPANIES
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MY portfolio
I focus on investing in companies Which are solving Major human challenges That when solved will Make the world a better place
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What “going public” means
“Going public” means selling part of a
company to investors via a public market
like the New York Stock exchange or the
nasdaq
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What “going public” means
Companies go public in order to 1. Raise capital for growth
2. Create a market for their shares
3. Enable employees to gain liquidity for their
options
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How to properly value a company
THE BEST WAY TO DETERMINE THE TRUE VALUE OF A PUBLIC COMPANY IS TO CREATE A DISCOUNTED CASH FLOW (DCF) FORECAST
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How Buffet invests
BUFFET’s investing method INVOLVES UNDERSTANDING A FIRM WELL CALCULATING WHAT HE BELIEVEs THE fiRM IS ACTUALLY WORTH using dcf THEN PURCHASING SHARES WHEN Enough of a margin of safety exists
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How Buffet works
WARREN BUFFET IN ESSENCE CREATES DCF MODELS ON EACH COMPANY HE INVESTS IN AND ENSURES THERE’S A BIG MARGIN OF SAFETy BETWEEN WHAT HE THINKS THE FIRM IS WORTH AND WHAT THE MARKET THINKS THE FIRM IS WORTH
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BECOMING A VALUe-ORIENTED INVESTOR
1. Avoid stocks with pe ratios over 25, unless they have extremely high
REVENUE growth (over 50% year)
2. Learn how to create a dcf valuation
3. Have the discipline to create a DCF valuation for every public
company investment you make
4. invest only when you have a 30% margin of safety between what your
DCF model says the company is worth and what the market sayS
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Lessons from my 20s
LOVE PART I, Section 13
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WHAT LOVE MEANS TO ME
Laughter Optimism Vibrant Energy
&
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SIX STEPS TO BUILDING A GREAT RELATIONSHIP
TELL THE TRUTH BUILD TRUST BE VULNERABLE GIVE TIME FOLLOW THROUGH
& SHOW CARE WITH YOUR ACTIONS
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SIX STEPS TO BUILDING A GREAT RELATIONSHIP
A GREAT WOMAN CAN MAKE A HUGE DIFFERENCE TO A GREAT MAN
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SIX STEPS TO BUILDING A GREAT RELATIONSHIP
A GREAT MAN CAN MAKE A HUGE DIFFERENCE TO A GREAT WOMAN
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SIX STEPS TO BUILDING A GREAT RELATIONSHIP
A GREAT pARTNER CAN MAKE A HUGE DIFFERENCE FOR ANYONE
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The partner you choose makes a huge impact on your life
THE PARTNER YOU CHOOSE TO BUILD A LIFE WITH MAKES A HUGE IMPACT ON YOUR ABILITY TO REACH YOUR POTENTIAL LIVE WITH JOY AND POSiTIVITY
AND TRULY CHANGE THE WORLD
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LOVING YOURSELF FIRST
BEFORE you CAN FIND SOMEONE ELSE TO FALL IN LOVE WITH You
YOU MUST LOVE YOURSELF FIRST
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BE AMAZING BEFORE YOU LOOK
BECAUSE TO FIND AN AMAZING PARTNER YOU YOURSELF MUST FIRST BE
AMAZING
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FOLLOW YOUR DREAMS FIRST
TO FIND A PARTNER WHO IS FOLLOWING THEIR DREAMS You must first be following
YOUR DREAMs
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LIVE WITH PASSION FIRST
TO FIND A PARTNER WHO IS LIVING PASSIONATEly You Yourself must first be
LIVING PASSIONATELY
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TO FIND A JEDI YOU MUST BECOME A JEDI
TO FIND A PARTNER WHO IS ON THE PATH TO BEING A JEDI You Yourself must first be
ON THE PATH
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Yep, MARRY A JEDI
WHEN TWO JEDIS marry ALL KINDS OF CRAZY GOOD SHIT HAPPENS in the universe
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HOW TO WIN A HEART
Here’s what I’ve LEARNED SO FAR ABOUt WINNING THE HEART
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HOW TO WIN A HEART
Don’t lead
Your partner on (Be open and transparent about your intentions with the relationship)
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HOW TO WIN A HEART
FOLLOW THE GOLDEN RULE
IN ALL RELATIONSHIPS
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HOW TO WIN A HEART
BE PLAYFUL And let the little kid Inside out!
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HOW TO WIN A HEART
PUSH YOUR PARTNER TO GET BETTER AND BECOME THE BEST VERSION OF THEMSELVES
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HOW TO WIN Ryan’s HEART
GIVE LOTS OF NECK MASSAGES
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HOW TO WIN A HEART
NEVER EVER TAKE THEM FOR GRANTED
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HOW TO WIN A HEART
NEVER STOP BUYING THEM FLOWERS
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HOW TO WIN A HEART
A LONG PARTNERSHIP REQUIRES MUTUAL RESPECT AND SHARED GOALS
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Lessons from my 20s
VALUES PART I, Section 14
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GLOBAL VALUES SYSTEMS
Origin Concept Name Description
Judaism Tikkun Olam The concept of repairing the world
Sanskrit Ahimsa A philosophy of do no harm
Confucian Li A set of norms that teaches brotherliness and community
Islamic Ummah A perspective on a supranational community
Christian Golden Rule A practice of treating others as you want to be treated
South Africa Ubuntu A spirit of cooperation between people of all colors and creeds
ACROSS MANY religion or spiritual traditions a key guideline is to be able to care for others
Let’s look at a few global values systems
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My CORE VALUE
HERE IS MY CORE VALUE… DO UNTO OTHERS AS YOU’D HAVE DONE UNTO YOURSELF
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EXPAND YOUR EMPATHY CIRCLE AND CARE FOR ALL PEOPLE
You&You&
Family&
Community&
Na1on&
Religion&
Gender&
Species&
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What is it to be human?
“To be human is to have the ability to transcend our egocentric preconditioning and care so DEEPLY FOR OUR CHILDREn, PARTNERS, FRIENDS or even strangers that we WOULD PUT THEIR INTEREST ABOVE OUR OWN NO MATTER WHAT IT MIGHT COST US PERSONALLY “
- RAY KURZWEIL!
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My VALUES
HERE ARE THE 50 VALUES I HOLD DEARLY AND DO MY BEST TO
ALWAYS LIVE BY
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ACCEPTANCE
I shall recognize the Uniqueness and humanity OF THOSE WHO DIFFER FROM MYSELF
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ACTION
THOUGH DELIBERATE & CAREFUL I SHALL HAVE A BIAS TOWARD ACTION
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ADAPTATION
I shall MAINTAIN in A STATE ABLE TO FLOW, LEARN & MODIFY MYSELF TO FIT NEW
SURROUNDINGS OR OCCURENCES
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ANALYSIS
I shall analyze what I do and DO NOT DO AND ATTEMPT TO DERIVE INHERENT LAWS, AXIOMS, TENANTS AND GUIDEPOSTS BASED ON THE EFFECTS
OF MY ACTIONS & INACTIONS
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BEST EFFORT
I shall PUT FORTH MY FULL AND BEST EFFORT WITHIN THE BOUNDARIES OF PROPER PHYSICAL
& MENTAL HEALTH
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CHALLENGE
I shall often challenge MYSELF & STEP OUTSIDE MY COMFORT ZONE SO AS TO REACH
WORTHY GOALS
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COLLABORATION
I shall WORK COLLABORATIVELY WITH OTHERS WHO ARE BETTER THAN I AM AT WHAT THEY DO
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COMMITMENT
I shall UPHOLD MY COMMITMENTS AND UNDER-PROMISe AND OVER-DELIVER
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COMMUNICATION
I shall MAKE IT A PRIORITY TO LEARN TO COMMUNICATE EXTREMELY WELL WITH OTHERS
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CONFIDENCE
I shall ALWAYS BE CONFIDENT & OPTIMISTIC AND
SET MY GOALS HIGH
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CONTENTMENT
I shall BE ONLY WHERE I AM AND SAVOR EVERYTHING ABOUT THAT MOMENT
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DETAIl
I shall NOT DALLY NEEDLESSLY IN DETAIl BUT EXAMINE TO THE FULL EXTENT NEEDED
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ENVIRONMENTAL CONCIOUSNESS
THOUGH I SHALL PROMOTE THE MASTERY OF NATURE FOR THE BETTERMENT OF LIVING CONDITIONS OF HUMANS I SHALL NEVER FORGET THAT THE EARTH SHOULD
BE TREATED AS PRECIOUS AND THAT SUSTAINABILITY MUST BE REQUIRED IF WE ARE TO SURVIVE AS A SPECIES
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FOCUS
I shall RECOGNIZE THAT WHILE I CAN DO ANYTHING I CAN’T DO
EVERYTHING
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FORGIVENESS
I shall FORGIVE THOSe WHO HAVE MENDED WAYS INCLUDING MYSELF
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GENEROSITY
I shall GIVE TO OTHERS HOWEVER I AM BEST AND MOST ABLE
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HEALTH
I shall maintain my health and EAT sleep & Exercise IN SUCH A MANNER AS TO MAINTAIN A HIGH LEVEL OF ENERGY I SHALL ELIMINATE NEAGATIVE ENERGY AS MY BODY IS A TEMPLE THAT HOUSES MY
SPIRIT
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HONESTY
I shall BE HONEST AND FORTHRIGHT IN ALL REPRESENTATIONS of
And Deliberations with MYSELF
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HUMILITY
I shall NOT BE AFRAID TO ASK FOR HELP AND NOT ASSUME MYSELF
ABOVE ANOTHER
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INDUSTRY
I shall LOSE NO TIME AND ALWAYS BE EMPLOYED IN SOMETHING USEFUl REFLECTION AND RELAXATION SHALL BE INCLUDED IN THE DEFINITION OF
USEFUL
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INTEGRITY
I SHALL ACT WITH INTEGRITY AND IN ALIGNMENT WITH WHAT I SAY I WILL DO
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JUSTICE
I shall WRONG
NO oNE
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KINDNESS
I SHALL LIVE A LIFE OF KINDNESS & COMPASSION. THERE’S NO REASON NOT TO.
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LEARNING
I shall be continously LEARNinG AND I SHALL
CONTINOUSLY READ
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LISTENING
I SHALL STRIVE TO LISTEN & UNDERSTAND
BEFORE I SPEAK
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MENTORSHIP
I shall GIVE THE KNOWLEDGE I HAVE AND WILL GAIN TO OTHERS
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MISTAKES
I shall STRIVE TO LEARN FROM THE MISTAKES I MAKE AND TO NOT MAKE TWICE
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NATURE
I shall CONSERVE AND PROTECT NATURE AND ENSURE IT REMAINS FOR MY GRANDCHILDREN
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OPTIMISM
I shall ALWAYS SEE THE GLASS AS
HALF FULL
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ORGANIZATION
I shall KEEP MY LIFE & BELONGINGS IN ORDEr WHILE KEEPING SPACE FOR EXHUBERENCE & CREATIVITY
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PASSION
I shall ALWAYS STRIVE FOR THAT WHICH I BELIEVE
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PERSERVERANCE
I shall NOT GIVE UP NOR GIVE IN TOO SOON AS LONG AS I FEEL A GOAL IS WORTHY OF THE EFFORT
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PLANNING
I shall PLAN FOR MY LIFE AND UPComing EVENTS
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POSITIVITY
I shall be positive DURING ALL TIMES AND BELIEVE IN THE POWER oF A POSITIVE MENTAL ATTITUDE
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PREPARATION
I shall ATTEMPT TO ENTER EACH SITUATION WITH AN INTELLECTUAL FRAMEWORK PRIMED & READY
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PRESENCE
I shall FOCUS MY COMPLETE ATTENTION ON THE SINGLE INDIVIDUAL I AM SPEAKING WITH
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PUNCTUALITY
I shall be on
TIME
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REFLECTION
I shall TAKE MOMENTS TO REVIEW WHAT HAS BEEN DONE AND EXAMINE SOCIETY AND MY
BEING, GOALS, and HABITS
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RESPECT
I shall RESPECT
ALL OTHERS
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SACRIFICE
I shall SAVE & INVEST FOR TODAY SO AS TO GAIN FOR
TOMORROW
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SINCERITY
I SHALL BE SINCERE AND ONLY TALK ABOUT PEOPLE IN AN EMPOWERING WAY
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SPIRITUALITY
I shall REALIZE I AM A VERY SMALL PART OF THE UNIVERSE AND HAVE GREAT GRATITUDE FOR LIFE
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SOLITITUDE
I SHALL HAVE A PERIOD OF PEACE AND SOLITUDE AT THE BEGINNING OF EACH DAY IN WHICH I SHALL GIVE THANKS AND ENVISION THE DAY AHEAD
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SPONTANEITY
I SHALL PERFORM WEEKLY EITHER An ACT OF KINDNESS OR AN ACTIVITY WHICH I HAVE
NEVER DONE BEFORE
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SUPERFICIALITY
I SHALL NOT FOCUS ON THE OUTER
BUT ON THE INNER
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TEACHING
I shall TRANSFER BOTH KNOWLEDGE & ENERGY
IN TEACHING
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TRANQULITY
I shall NOT BE DISTURBED BY TRIFLES OR BY THAT WHICH IS NOT TRULY IMPORTANT
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TRANSPARENCY
I shall LIVE A PUBLIC LIFE AND SHARE THE CONTENTS OF MY Dreams & PLANS
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TRAVEL
I shall MAKE A PRIORITY TO SEE AND EXPLORE
THE WORLD
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WORK ETHIC
I shall WORK BOTH HARD AND INTELLIGENTLY AND NOT LEAVE FOR TOMORROW WHAT CAN BE DONE
TODAY
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BEN FRANKLIN’s 13 Values
1. Temperance: Eat not to dullness; drink not to elevation.
2. Order: Let all your things have their places; let each part of
your business have its time.
3. Resolution: Resolve to perform what you ought; perform
without fail what you resolve.
4. Frugality: Make no expense but to do good to others or
yourself; i.e., waste nothing.
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BEN FRANKLIN’s 13 Values
6. Moderation: Avoid extremes; forbear resenting injuries so
much as you think they deserve.
7. Industry: Lose no time; be always employed in something
useful; cut off all unnecessary actions.
8. Cleanliness: Tolerate no uncleanliness in body, clothes, or
habitation.
9. Tranquility: Be not disturbed at trifles, or at accidents
common or unavoidable.
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BEN FRANKLIN’s 13 Values
9. Silence: Speak not but what may benefit others or yourself; avoid trifling
conversation.
10. Sincerity: Use no hurtful deceit; think innocently and justly, and, if you speak,
speak accordingly.
11. Justice: Wrong none by doing injuries, or omitting the benefits that are your
duty.
12. Chastity: Rarely use venery but for health or offspring, never to dullness,
weakness, or the injury of your own or another's peace or reputation.
13. Humility: Imitate Jesus and Socrates.
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IN SUMMARY ON VALUES
YOUR LIFE WILL BE ENRICHED AND YOU WILL SLEEP SOUNDLY AT NIGHT KNOWING YOU ARE LIVING WITH A CONsCIOUS SET OF VALUES
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Financial plan exercise
You can do the following 10 minute
Values exercise now
Or put a time on your calendar To return to it
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Values EXERCISE
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Exercise: VALUES
Write down the 10 most important
Values to you?
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CONNECT COMPANY VALUES CIRCA 2012
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Lessons from my 20s
LIFE LESSoNS PART I, Section 14
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LIFE Lessons from 2005
I’ve been KEEPING TRACK OF THE major LESSONS I’ve learned
Each YEAR Since 2005
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LIFE Lessons from 2005
LISTEN TO THAT LITTLE VOICE in the back of your HEAD
It’s usually alerting You to something Important
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LIFE Lessons from 2005
YOU CAN ACHIEVE ANYTHING
YOU SET YOUR MIND TO
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LIFE Lessons from 2005
Don’t let Non-communication Lead to the
Degeneration of a Relationship
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LIFE Lessons from 2005
Don’t AVOID DOING THINGS JUST BECAUSE
THEY MAY CAUSE CONFLICT!
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LIFE Lessons from 2005
AT THE END OF THE DAY Impact & INTEGRITY is
What matters!
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LIFE Lessons from 2005
NEVER Say “BUT” INSTEAD SAY
“YES, AND.”
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LIFE Lessons from 2005
THERE ARE TWO WAYS TO DETERMINE THE RULES OF LIFE TALKING TO SMART PEOPLE
and TRIAL AND ERROR EITHER WAY START LEARNING EARLY
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LIFE Lessons from 2006
IF SOMEBODY SUES YOU GO TALK TO THEM IN PERSON IMMEDIATELY
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LIFE Lessons from 2006
NETWORKING Isn’T ABOUT BUSINESS CARDS IT’s about building
Meaningful relationships
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LIFE Lessons from 2006
2.4 Billion PEOPLE LIVE ON LESS THAN TWO DOLLARS PER DAY
Source: World Bank
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LIFE Lessons from 2006
Source: World Bank
EVERY Day 18,000 CHILDREN UNDER 5 DIE MOST FROM PREVENTABLE
DISEASE AND LOW NUTRITION. THIS DOESN’t HAVE TO HAPPEN.
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LIFE Lessons from 2006
Source: World Bank
80% OF HUMAN BEINGS LIVE oN LESS THAN $10 PER DAY
So IF YOU’RE LIVING ON MORE THAN $10 PER DAY
Count your blessings
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LIFE Lessons from 2007
LIFE IS PRECIOUS AND CAN END ANYTIME
SO EXPRESS GRATITUDE DAILY
AND TELL THOSE YOU LOVE THAT YOU LOVE THEM
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LIFE Lessons from 2007
THE WORLD HAS MORE OPPORTUNITIES THAN YOU MIGHT THINK
so DEFINE YOUR PURPOSE
THEN SEEK THEM OUT
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LIFE Lessons from 2007
PoSITIVE DEVELOPMENTS OCCUR WHEN YOU ASSOCIATE WITH
EXTRAORDINARY PEOPLE
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LIFE Lessons from 2007
GRATITUDE
IS AN EXTREMELY POWERFUL
CHARACTER ATTRIBUTE
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LIFE Lessons from 2007
HUMANS HAVE A DEEP DESIRE In THEIR LIVES FOR
LOVE AND AFFECTIOn
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LIFE Lessons from 2007
IF THERE’S ONE THING YOU “OVERDo” IN LIFE MAKE IT
COMMUNICATIon
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LIFE Lessons from 2007
LET YOUR INNER CHILD COME OUT DAILY AND SILLY DANCE
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LIFE Lessons from 2007
AVOID GETTING MARRIED UNTIL YOU’RE ABLE TO
FULLY FINANCIALLY SUPPORT YOURSELF
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LIFE Lessons from 2007
AVOID HAVING CHILDREN UNTIL YOU CAN SAFELY FINANCIALLY
AFFORD CHILDREN
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LIFE Lessons from 2007
GOOD HEALTH IS EVERYTHING
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LIFE Lessons from 2008
Don’t ever LET YOUR MIND
LIMIT YOURSELF
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LIFE Lessons from 2008
One way to avoid CRITICISM IS TO DO NOTHING & STAND FOR NOTHING
THE WORLD WILL THEN LEAVE YOU ALONE
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LIFE Lessons from 2008
IF YOU’re up to something that matters in the world CRITICISM is inevitable
It comes with the territory
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LIFE Lessons from 2008
ARROGANCE IS NOT OVER-CONFIDENCE It is being
DISMISSIVE OF OTHERS
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LIFE Lessons from 2008
IT TAKES ten years TO BECOME GREAT AT SOMETHING
CHOOSE CAREFULLY
Thus You can only BECOME GREAT
AT 6 or 7 things
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LIFE Lessons from 2009
DO SOMETHING WONDERFUL EACH DAY WITH INFECTIOUS ENTHUSIASM
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LIFE Lessons from 2009
JUST SAY “OK GOOD”
TO LIFE
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LIFE Lessons from 2009
CANCER IS HORRIBLE
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LIFE Lessons from 2009
WE ALL HAVE CHALLENGES It’s how you INTERPRET
& RESPOND TO THEM THAT COUNTS
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LIFE Lessons from 2009
PEOPLE GENERALLY ACT CONSISTENTLY WITH WHAT IS EXPECTED
OF THEM
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LIFE Lessons from 2009
MANY PEOPLE IN THE UNITED STATES ARE NOT AUTHENTICALLY HAPPY
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LIFE Lessons from 2009
THERE IS BEAUTY IN UNDERSTANDING NUANCE
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LIFE Lessons from 2009
ASK FOR ADVICE MORE OFTEN
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LIFE Lessons from 2009
TO achieve big goals You need TO
FOCUS
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LIFE Lessons from 2009
THERE IS GREAT POWER IN A
HANDWRITTEN NOTE
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LIFE Lessons from 2009
FIND A WAY TO MAKE ALL NEGOTIATIONS BENEFIT BOTH SIDES
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LIFE Lessons from 2010
THE BEST MEDICINE FOR STRESS IS BREATHING!
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LIFE Lessons from 2010
THE 2nd BEST MEDICINE FOR STRESS IS LAUGHTER!
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LIFE Lessons from 2010
TRAVEL THE WORLD FOR AT LEAST 3 weeks per year!
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LIFE Lessons from 2010
EVERY WEEK WATCH a
TED VIDEO
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LIFE Lessons from 2010
SPEND MORE HOURS READING THAN YOU DO WATCHING TV!
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LIFE Lessons from 2010
LIMIT TELEVISION To 30 minutes PER WEEK!
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LIFE Lessons from 2011
INVESTING in AFRICA NOW IS LIKE INVESTING IN INDIA In 1985!
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LIFE Lessons from 2011
NEARLY SUPER-HUMAN FEATS ARE POSSIBLE WHEN YOU ARE DEEPLY PASSIONATE ABOUT
YOUR MISSION
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Life lessons exercise
You can do the following 5 minute
Life lessons exercise now
Or put a time on your calendar To return to it
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Life Lessons EXERCISE
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Exercise: life lessons
Write down the 3 most important
Life lessons You have ever learned
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Lessons from my 20s
Sage advice PART I, Section 15
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FAVORITE QUOTES on LIVING
LIFE IS EITHER DARING ADVENTURE OR NOTHING
- HELEN KELLER!
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FAVORITE QUOTES on LIVING
ABOve ALL TRY SOMETHING
- FRANKLIN D. ROoSEVELT!
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FAVORITE QUOTES on LIVING
ONE WHO MAKES NO MISTAKES MAKES NOTHING - GIACOMO CASANOVA!
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FAVORITE QUOTES on LIVING
DO ONE THING EVERYDAY THAT SCARES YOU - ELEANOR ROOSEVELT!
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FAVORITE QUOTES on LIVING
NEVER DOUBT THAT A SMALL GROUP OF THOUGHFUL, COMMITTED CITIZENS
CAN CHANGE THE WORLD - MARGARET MEAD!
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FAVORITE QUOTES on LIVING
Don’t chase THE PAPER
- P DIDDY!
CHASE THE DREAM!
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FAVORITE QUOTES on LIVING
FAR BETTER IT IS TO DARE MIGHTY THINGS THAN TO RANK WITH TIMID SPIRITS
WHO KNOW NEITHER
VICTORY NOR DEFEAT - THEODORE ROOSEVELT!
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FAVORITE QUOTES on LIVING
HERE’S TO THE CRAZY ONES. THE MISFITS, REBELS, & TROUBLEMAKERS THE ONES WHO SEE THINGS DIFFERENTLY
- STEVE JOBS!
BECAUSE THE PEOPLE WHO ARE CRAZY ENOUGH TO THINK THEY CAN CHANGE THE WORLD ARE THE ONES WHO DO
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FAVORITE QUOTES on LIVING
WHETHER YOU THINK YOU CAN OR YOU CANNOT YOU ARE RIGHT - HENRY FORD!
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FAVORITE QUOTES on LIVING
FOLLOW YOUR BLISS
- JOSEPH CAMBELL!
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FAVORITE QUOTES on LIVING
UNTIL ONE IS COMMITTED, THERE IS HESITANCY THE CHANCE TO DRAW BACK. WHATEVER YOU CAN DO, BEGIN IN.
BOLDNESS HAS GENIUS, POWER, & MAGIC IN IT. BEGIN IT NOW.
- W.H. Murray!
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FAVORITE QUOTES on LIVING
BEAUTY IS THE ABSENCE
OF THE SUPERFLUOUS
- Greek SCHOLARS!
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FAVORITE QUOTES on LIVING
- Greek SCHOLARS!
SIMPLICITY IS THE ULTIMATE
SOPHISTICATION
- LEONARDO DE VINCI!
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Lessons from my 20s
entrepreneurship Part II:
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ABOUT THIS PRESENTATION
THIS presentation can be found Online at
www.hive.org/20s
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PART 2 TOPICS
Entrepreneurship The big opportunities Leadership Business Planning PRODUCT DEVELOPMENT Innovation
PART 2 “ENTREPRENEURSHIP” INCLUDES SECTIONS ON
Venture Capital Marketing Building systems BUILDING A TEAM STRATEGY & EXECUTION Steps to get started
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Lessons from my 20s
Purpose-driven entrepreneurship
PART II, Section 1
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A definition
Individuals who build organizations
which scalably & sustainably
solve human problems
Entrepreneurs (n.)
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Choosing Your PROBLEM Choosing Your PROBLEM How Will you Use Your one Wild and Precious Life?
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Be a purpose-driven entrepreneur
entrepreneurship Is about solving problems And creating value
For humanity
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The virtuous cycle of purpose-driven entrepreneurship
An entrepreneur can bring immense value to humanity by building a For-purpose Business that earns money that can be used to reinvest in more opportunities that
make the world better
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Common traits of entrepreneurs
Initiative Drive toward efficiency Bias toward action Ability to take feedback Tolerance for stress Determination Decisiveness Courage Ability to deal with failure
Perserverence Creativity Ability to learn quickly Ability to plan Ability to delay gratification Drive to achieve Ability to prioritize Ability to build a team Ability to inspire & lead
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A quote
“Both a sparkplug & catalyst the entrepreneur is at once the driving force behind production and the agent who combines the other resources in what is hoped will be a profitable venture”
- McConnell and Brue in Economics
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Understand the system
THERE IS AN ENTIRELY DIFFERENT WORLD OUT THERE—A WORLD OF PROSPERITY & UNLIMITED WEALTH You can enter this world IF YOU ARE AWARE IT EXISTS AND YOU WORK HARD
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Understand the system
TO ENTER THIS WORLD YOU MUST UNDERSTAND HOW THE SYSTEM OF ENTREPRENEURSHIP
WORKS
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Understand the system
THERE ARE THREE WAYS TO BUILD WEALTH THROUGH ENTREPRENEURSHIP THROUGH A SALARY, THROUGH DIVIDENDS, and through THE SALE OF
STOCK YOU OWN
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Impacting Billions of lives
So HOW CAN YOU IMPACT THE LIVES OF OVER ONE BILLION PEOPLE?
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Impacting Billions of lives
WELL YOU NEED TO BE WORKING ON A
BIG PROBLEM!
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Solving big problems
Big Problems are actually
BIG opportunities!
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Solving big problems
TOO MANY PEOPLE ARE FOCUSED on
TOO SMALL OF A PROBLEM!
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Two key steps many aspiring entrepreneurs miss
There are two critical First steps for any entrepreneur
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THE Two Steps to success in entrepreneurship
First you must find A problem that you Passionately want
to solve
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THE Two Steps to success in entrepreneurship
Next devote your life to building the Team that will solve That problem better than Any other group of humans
That has come before
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Step 1: Find a really big problem you are passionate about solving.
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Step 2: Devote your life to
building the team that best solves the problem
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THE Two Steps to success in entrepreneurship
As an entrpreneur If you aren’t solving A problem worth dedicating 20 years of your life to You won’t be able to make it
Through the hard times ahead
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THE Two Steps to success in entrepreneurship
A problem Worth dedicating your life to Is often called a
“wicked problem”
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To find your problem, you must create your purpose
The problem you wish to solve Must deeply align with the Life Purpose you created in part 1!
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How to do it
work on solving a
big Problem
aligned with your
purpose
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Choosing your sector
Once you find the problem You wish to solve then Find The most effective sector To work within to solve it
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Choose your angle of attack
The most common ways to solve big problems: 1. build a purpose-driven business 2. Join a purpose-driven business 3. build a non-profit 4. Join a non-profit 5. Join a government agency 6. Run for political office 7. Become a scientist/researcher 8. Invest in companies solving the problem 9. Convene people who are solving the problem
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Choosing your sector
Much of this part of the presentation is about
building a purpose-driven business
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Be a purpose-driven entrepreneur
In many cases, you can Make the most scalable impact On the world By building a For-profit business that is Socially minded
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Example for-profit impact companies
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Why Build a for-profit social business vs. a non-profit?
Easier to raise funding to scale Ability to use stock options
Ability to invest in a more experienced team
Better compensation
Faster Feedback cycle directly from customers
Ability to subsidize lower income customers
Ability to invest in R&D
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Choosing your sector
Here is a map of social And economic impact by sector created by Max Marmer in a 2012 HBR article called
“Transformational entrepreneurship”
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A Map of societal and economic impact
Harmful Small Businesses
Harmful Non Profits
Exploitative Entrepreneurship
High Growth Entrepreneurship
Contributory Small Businesses
Ineffective Non Profits
Social Entrepreneurship
Transformational Non Profits
Societal)Impact)
Economic)Impact)
Transformational Entrepreneurship
Work here in the green!
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Look into b Corps
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Invest in companies solving big problems
Another angle is to work
At investment funds
That invest in companies that are
Solving big human problems
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Venture funds investing in solving big problems
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Impact investing leaders
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Determining Your PATH IN YOUR Twenties
Determine the big problem you want to solve
Create your life purpose statement
Decide on sector you want to work in to solve the problem
Government Non-Profit Business
Elected Appointed Join Existing Start New Join Existing Start New
Explore widely to find what makes you come alive
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Don’t a be a cog
Becoming a highly specialized cog
in a meaningless machine
Is no way to live a life
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What most people do
What most people do is focus on a specific
Type of job & specialize on a profession
Don’t do that
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What most people do
Don’t specialize on a niche profession
Specialize on a
problem
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WHAT YOU SHOULD DO
Instead of specializing on a specific job role
Specialize on a specific human problem that you are
Dedicated to solving
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Live an unleashed life
When you’re spending your years focusing on
A really big human problem you end up living a
LIFE of purpose
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Live an unleashed life
And when you’re naturally excited by the
Work that you do you end up attracting more
Positive and capable people
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Live an unleashed life
THIS process creates a self-reinforcing virtuous
Cycle leading to greater fulfillment, meaning,
And happiness
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Find your mission
FIND A MISSION THAT YOU ARE DEEPLY PASSIONATE ABOUT AND BUILD A BUSINESS TO PURSUE THE heck OUT OF IT
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Your motivation
SPEND TIME THINKING AND MEDITATING ON YOUR RAISON D’ETRE AND FIGURE OUT WHAT CONSTITUTES THE CORE MOTIVATIONS FOR WHAT YOU DO AND What you stand for
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Entrepreneurship
BEING AN ENTREPRENEUR IS NOT FOR EVERYBODY. BUT IF YOU FIND IT’S FOR YOU AND YOU CAN FIND A WAY TO SUCCEED, it can be EXTREMELY REWARDING.
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Entrepreneurship
BECOMing A SUCCESSFUL ENTREPRENEUR IS NOT EASY YOU MUST HAVE PERSISTENCE DEDICATED, TENACITY & THE ABILITY TO DEAL WITH ADVERSITY
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What it takes
Entrepreneurship is doing Something others won’t for 10 years so you can do what Others can’t for the Rest of your life
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The big opportunities
Next we’ll look at some of the biggest opportunities In the world right now To build a business That makes a huge impact
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A quote
“Entrepreneurship is about passion
following a dream and changing the
world with plenty of craziness along
the way.”
- Jeffrey Bussgang, Flybridge
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Lessons from my 20s
The big opportunities
PART II, Section 2
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A quote
“I don’t skate to where the puck is. I skate to where the puck is going.”
- Wayne Gretzky
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An innovation Timeline
To put everything Into perspective here is A timeline of innnovation
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An innovation timeline
The Wheel (5,500 Yrs Ago)
Iron (5,000 Yrs Ago)
The Legal System (3,800 Yrs Ago)
Ships (6000 Years Ago)
Written Language (4900 Yrs Ago)
The Alphabet (3800 Yrs Ago)
Water Power (2200 Yrs Ago)
Cities Form (6000 Years Ago)
Money (5,000 Yrs Ago)
Abacus (5,000 Yrs Ago)
Steel (2400 Yrs Ago)
Farming (15,000 Yrs
Ago)
Trade (20,000 Years Ago)
![Page 626: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/626.jpg)
Key innovations From 0 to 1800
Printing Press 1450
Movable Type 1040
Paper 105
Compass 950
Gunpowder 850
Microscope 1590
Electricity 1600
Telescope 1608
Engine 1712
Steam Power 1690
Binary Numbers 1697
Smallpox Vaccine 1796
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19th century innovation timeline
Electromagnet 1825
Internal Combustion
Engine 1823
Telegraph 1809
Battery 1800
Anesthesia 1846
Petroleum 1859
Telephone 1860
Vacuum Tube 1883
Periodic Table 1869
Electrical Grid 1880
Automobile 1885
Light Bulb 1800
Radio 1897
Semiconductors 1896
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20th century innovation timeline
Transistor 1947
Penicillin 1928
Television 1926
Airplane 1903
DNA 1953
Organ Transplants
1964
Satellites 1957
Microprocessor 1971
Nanotechnology 1959
Manned Space Flight
1961
Cell phones 1973
Quantum Physics
1900
Genetic Engineering
1973
The Internet 1969
1978 GPS
World Wide Web 1991
Carbon Nanotubes
1991
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21st century innovation timeline
?
?
Smartphone 2007
Quantum Computer 2012
?
? ?
?
It’s now your opportunity to create the future
Lab Grown Organ Transplants
2000
Human Genome Map 2001
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The Biggest opportunites for millennials
Here are the fields needing Great entrepreneurs between 2015-2050
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The Biggest opportunites for millennials
Energy & Environment
Food & Water
Education
Health & Wellness
Engineering Computing
Financial Access
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Energy & Environment
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Solar Energy
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Wind Energy
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Biofuels
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Sustainable City Planning
![Page 637: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/637.jpg)
Food & Water
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Synthetic Food Production
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Vertical Farming
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AgTech
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Water Desalination
![Page 642: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/642.jpg)
Education
![Page 643: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/643.jpg)
Cloud Education
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Low Cost Schooling
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Leadership Training
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Network Building
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Health & Wellness
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Synthetic Biology
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Brain Mapping
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Optogenetics
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Personalized Medicine
![Page 652: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/652.jpg)
Reverse Aging
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Bionic Eyesight
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Low Cost Sanitation
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Mindfulness Training
![Page 656: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/656.jpg)
Engineering
![Page 657: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/657.jpg)
Clean Transportation
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Self-Driving Cars
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Robotics
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Space Exploration
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3D Printing
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Nanotechnology
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Long Life Batteries
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Low Cost Housing
![Page 665: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/665.jpg)
Financial Access
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Mobile Banking
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Frontier Market Finance
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Digital Currency
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Digital Wallets
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Computing
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Quantum Computing
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Converged Smartphones
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Data Storage on DNA
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Artificial Intelligence
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Contact Lens Smartphones
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Natural User Interfaces
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Government 2.0
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Cybersecurity
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Climate Engineering
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Wearable Computers & HUDs
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The Internet of Things / Cloud Devices
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Mobile Software
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The Biggest Opportunities of Our Generation
Solar Energy Advanced Batteries Biofuels Climate Engineering Sustainable City Planning
Energy & Environment
Food & Water Synthetic Food Production Agricultural Technology Vertical Farming Water Desalination
Education Cloud Education Low Cost Schooling Leadership Training Network Building
Synthetic Biology Brain Mapping Optogenetics Reverse Aging Personalized Medicine Bionic Eyesight Low Cost Sanitation
Mindfulness Training
Clean Transportation Self-driving Cars Robotics Space Exploration 3D Printing Nanotechnology
Long Life Batteries Low Cost Housing
Quantum Computing Converged Smartphones Data Storage on DNA Artificial Intelligence Contact Lens Smartphones Natural User Interfaces Government 2.0 Cybersecurity Wearable Computers Implantable Computers The Internet of Things Mobile Software
Health & Wellness
Engineering
Computing
Financial Access
Mobile Banking Frontier Market Finance Payment Processing Digital Currency Digital Wallets
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The Mobile Cloud
Beautiful & Easy Mobile Cloud Services are
REVOLUTIONIZING EVERYTHING
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The Reimagination of nearly everything
1994& 2014&Books& Printed! Kindle,!iPad,!Nook!
Cameras& Film!&!Development! Device?Integrated,!Synced!to!Cloud!Cars& Self?owned! GetAround,!Zipcar,!LyI,!Uber!
Channel!Changing& Remotes! Hand!Gestures!Check!Out& Cash!Register! Square!+!Tablet!
Ci.zen!Ac.on& Faxes,!Calls! Change.org!Communica.on& Postal!Mail,!Fax,!Landlines! Smartphones,!Email,!SMS,!Facebook,!TwiWer,!WhatsApp,!SnapChat!
Contact!Management& Rolodexes! Connect,!Google!Contacts!Doctors!Appointments& Phone!Call! ZocDoc,!One!Medical!
Event!Planning& Mail!&!Telephone! EventBrite,!Facebook!Events,!YPlan!Fashion& Expensive!Bou.ques! RentTheRunway,!Gilt!
Food!Delivery& Phone!Call! GrubHub,!Munchery,!Sprig,!Spoonrocket!Fitness& Gym! Nike!FuelBand,!FitBit,!Jawbone!Up,!Basis!Funding& Friends!&!Funding! Kickstarter,!Fundable,!Indiegogo!
Global!Outsourcing& Plane!travel! Crowdflower,!Exec,!ODesk,!Elance,!Guru,!SmarterWork,!Freelancer!GPS& Not!available!to!consumers! GPS!on!your!smartphone!
Groceries& Local!store! Amazon!Fresh,!Instacart!Informa.on!Storage& Storage!Cabinets! DropBox,!Box,!Google!Drive,!SkyDrive!
Job!Searching& Fairs!&!Resumes! LinkedIn,!Hired!Knowledge& Encyclopedia!Britannica! Wikipedia,!KhanAcademy,!CodeAcademy,!Udemy,!Coursera,!iTunes!U!!
Lending& Banks! LendingClub,!Prosper,!Kabbage,!LendUp!Locks& Deadbolts! Lockitron!
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The Reimagination of nearly everything 1994& 2014&
Maps& Printed! Google!Maps,!Bing!Maps!
Marke.ng& Direct!mail,!phone!book,!billboards! Paid!search,!social!ads,!mobile!ads!Movies& Blockbuster! Ne[lix,!Amazon,!iTunes,!YouTube,!Hulu!Music& CasseWes!&!CDs! Spo.fy,!Rdio!News& Television,!Radio,!&!Newspaper! TwiWer,!Flipboard,!Prisma.c!
Note!Taking& Notepads! Evernote,!Google!Docs!Phones& Landlines! Smartphones!
Picture!Storage& Photo!Albums! Facebook,!Flickr,!500px!Plumber& Phone!Book! HandyBook,!Angie’s!List!
Product!Design& In?house! Quirky!Reviews& Word!of!Mouth! Yelp!
Scrapbooks& Hand?created! Pinterest!Shopping& Mall! Amazon,!eBay!Signatures& Pens!&!Fax! Docusign,!EchoSign!
Social!Network& Bar,!Alumni!Reunion! Facebook,!Instagram,!Google+,!LinkedIn!Task!Management& Post?its! Trello,!Asana!
Tasks& Classifieds! TaskRabbit,!Zaarly,!Zirtual!Television& Cable!&!Bunny!Ear!Antennas! HuluPlus,!Ne[lix,!Apple!TV,!iTunes,!Amazon!Fire!TV!Textbooks& Buy!them!at!a!bookstore! Chegg,!Amazon!Textbook!Rental!
Thermostats& Analog! Nest!Traffic?Informa.on& Radio! Waze,!Google!Maps!
Wallets& Leather! Google!Wallet!Watches& Swatch!&!Rolex! Pebble,!Basis!!
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The Reimagination
No longer do we need A car, A music collection, A video collection
Everything is now available on-demand For an asset-light lifestyle
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The Reimagination
SOON EVERY GOVernment service
will be delivered
VIA THE MOBILE CLOUD
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The Reimagination
You can monitor your
Heart rate and sleep via your
Android WATCH
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The Reimagination
You can now check your
Blood sugar via smart
Contact lenses
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The Reimagination
Every device will be connected
As the internet of things
explodes
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Lessons from my 20s
Authentic leadership
PART II, Section 3
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Leadership
A leader is a person who is committed to something
bigger than themselves
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Leadership
An authentic leader is Someone who has aligned Their personal purpose with
their professional purpose
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Leadership
Sadly, way too many people Have never taken the time To create their
Personal purpose
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Leadership
Even those who do have Personal purpose, so rarely Make it their full time
Professional pursuit
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BE a rare duckling
Be the RARE DUCKLING And actually make your Purpose your full time
Professional pursuit!
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BE a rare duckling
It may be harder in the Short run, but in the long run You’ll be more passionate And create more impact
(And if you do it right, earn much higher financial compensation too)
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personal purpose! =! professional
purpose!
The Authentic Leader!
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The Inauthentic Leader
personal purpose! ≠! professional
purpose!
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INspiration
How can you possibly expect To inspire A team to greatness If you yourself aren’t working On your purpose with your Full time efforts
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The obvious
You think your team won’t be Able to tell whether you’re a Passionless corporate shrill Or lit up on fire WITH ENERGY??
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When your personal purpose is what
you work on daily, work becomes
greatly enjoyable—no matter the
challenge.!
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The je ne sais quoi of leadership
The way great leaders get that “Je ne sais quoi” quality about them Is from their deep commitment To creating something that makes the
World better
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The je nais se quoi
Imagine the insatiable energy And Charisma you will have When you’re actually working On what you’re passionate about With your full time effort
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Fear?
So what are you afraid of?
Failure?
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Fear?
what you should really fear isn’t FAILUre
What you should really fear is the
Regret you’ll feel when you’re 80 having
never given it a try
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Leadership
An authentic leader Hires missionaries
Not mercenaries
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Leadership
You can’t be a leader until you know
why you’re leading
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Authentic Leaders Know Why & Where They Are Leading
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Authentic leaders are
vulnerable and open
with their team and
share their struggles!
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Authentic leaders inspire a team to move mountains to achieve the mission.!
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Authentic leaders paint a clear vision and
communicate it succintly, visually, and
repeatedly.
!
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Leadership
NEARLY SUPER-HUMAN feats Are possible when a team is DEEPLY passionate about
their MISSION
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Advice on authentic leadership
Here are Six thoughts on becoming An unleashed high-integrity
leader
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Find a mission that you are deeply passionate about and build a business to make the world you envision real
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If you want to have the persistence to build a great business work on solving a problem that you are passionate about that aligns with your life purpose
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Don’t begin the effort of building a company if you’re not deeply passionate about the problem you are trying to solve
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Too many startups try to solve problems they’re not actually passionate about solving
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Building a company is hard. If you’re deeply passionate about solving the problem you’ll get through the years of sacrifice.
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Once you’ve determined the change you seek build a company that sustainably creates that change at scale.
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Lessons from my 20s
Business planning
PART II, Section 4
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Business planning
SOME ENTREPRENEURS choose not to create a plan at all And just start working
Minimum viable product On a prototype or
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Business planning
I find that it’s helpful to at least create a short slide deck or exec summary
To ensure you know what you’re building & What problem you’re Solving before you start building
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What’s in your deck?
1. PROBLEM you’re solving 2. PRODUCT & TECHNOLOGY 3. your recent traction 4. MARKET & COMPETITION 5. TEAM 6. revenue model 7. FINANCIAL PROJECTIONS
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In the first two slides…
CLEARLY ILLUSTRATE THE PROBLEM YOU ARE SOLVING HOW YOU ARE SOLVING IT
AND FOR WHOM
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Product section
SHOW PICTURES OF A PROTOTYPE OR WIREFRAMES & MOCKUPS MAKE YOUR SPECIFIC SOLUTION
EASILY VISUALIZED
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Product section
SHARE YOUR PRODUCTION TIMELINE AND KEY MILESTONES TOWARD INITIAL PRODUCT DELIVERY AND DISCUSS FUTURE PRODUCTS AND SERVICES
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Financials section
ADDRESS THE FOLLOWING IN YOUR FINANCIAL PROJECTIONS REVENUE ASSUMPTIONS COST ASSUMPTIONS Revenue by Month COST BY MONTH BY CATEGORY NET INCOME BY MONTH BY CATEGORY TIME TO BREAKEVEN FUNDS NEEDED TO REACH NEXT MILESTONE TOTAL EXPECTED FUNDS NEEDED
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Example 60 month financial projections
($2,500,000)
($2,000,000)
($1,500,000)
($1,000,000)
($500,000)
$0
$500,000
$1,000,000
$1,500,000
0! 6! 12! 18! 24! 30! 36! 42! 48! 54! 60!
Revenue Expenses Net Income
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Financials section
2015! 2016! 2017! 2018! 2019!Revenue! 18,127! 50,984! 143,401! 403,340! 1,134,461!Expenses! 103,408! 118,539! 139,017! 287,553! 640,004!Net Profit! -85,281! -67,555! 4,384! 115,787! 494,457!
Here’s a REALLY BASIC Example annual financial PROJECTION
your financial projections Should list out expenses by major categories
(Labor, Marketing, Servers, OFFICE SPACE, etc.)
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Answer these questions in your deck
# What problem are you solving? # Why are you passionate about solving that problem? # Who’s on your team? # What is their background? # WHAT IS THE NEED FOR THE PRODUCT? # What is your revenue model / cost per unit? # WHAT IS THE SIZE OF THE MARKET? # WHAT WILL IT COST TO PRODUCE THE PRODUCT? # WHO IS YOUR TARGET CUSTOMER?
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Questions you may wish to answer in your deck
# WILL YOU NEED TO ACQUIRE ANY IP? # WHAT ROLES WILL YOU FILL IN THE FUTURE? # WHAT ARE YOUR FUTURE PRODUCTS features? # HOW MUCH IS NEEDED TO REACH BREAKEVEN? # WHAT ARE YOUR ANNUAL Revenue PROJECTIONS? # WHAT ARE YOUR ANNUAL COST PROJECTIONS? # WHAT ARE YOUR ANNUAL PROFIT PROJECTIONS?
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INcorporating
Before you start operating it’s important to INCORPORATE
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INcorporating
MUCH LOWER TAXES LIABILITY PROTECTION BEING TAKEN SERIOUSLY
ABILITY TO OPEN A BANK ACCOUNT ABILITY TO HIRE EMPLOYEES ABILITY TO RAISE INVESTMENT
THE BENEFITS OF INCORPORATING
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INcorporating
TO INCORPORATE YOURSELF YOU JUST NEED TO KNOW
THE NAME OF THE COMPANy THE STATE YOU WISH TO INCORPORATE IN THE NUMBER OF SHARES TO CREATE THE INITIAL OWNERSHIP OF THOSE SHARES
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INcorporating
IN THE U.S. you can start a S Corp
C Corp LLC
BENEFIT CORP
Most firms that plan on r a i s i n g c a p i t a l a r e Delaware C Corporations
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INcorporating
IN CHOOSING A LAW FIRM LOOK AT REPUTATION & REFERENCES
START-up EXPERIENCE INTRODUCTION TO INVESTORS IPO EXPERIENCE PARTNER CHEMISTRY
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INcorporating
ONCE INCORPORATED YOU’ll RECEIVE YOUR
ARTICLES OF INCORPORATION SET OF BYLAWS SET OF STOCK CERTIFICATES
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INcorporating
THEN YOU CAN GET AN EMPLOYER IDENTIFICATION NUMBER FROM THE IRS (YIPEE!) AND OPEN A BANK ACCOUNT
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Early equity is based on
1. How far along firm is when you join
2. Your position in the company
3. Amount of capital you invest
4. What you negotiate
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Equity Rules of THumb Time Pre-founding
Time of Joining Pre-Seed
CEO 55%
COO 15%
CFO 12%
CTO 12%
SVP Level N/A
VP Level N/A
Manager N/A
Sr. Engineer 5%
Engineer 3%
Staff Member 1%
Investors 0%
Year 1
Post Seed
40%
15%
10%
10%
7.50%
4%
1.50%
1.50%
0.75%
0.30%
10%
Year 2 Year 3
Post Series A
20% 15%
10% 5%
7% 4%
7% 4%
5% 3%
3% 2%
1% 0.50%
1% 0.50%
0.50% 0.25%
0.20% 0.10%
30% 30%
Year 4 Year 5+
Post Series-B
10% 8%
3% 2.50%
2.50% 1.50%
2.50% 1.50%
2% 1%
1% 0.50%
0.25% 0.10%
0.25% 0.10%
0.10% 0.05%
0.05% 0.03%
45% 45%
AS TIME CONTINUES, RISK REDUCES, CAPITAL IS RAISED & VALUE IS CREATED THUS LESS EQUITY iS PROVIDED THE LATER YOU JOIN
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Lessons from my 20s
Product Development
PART II, Section 5
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The core human desires
Great products fulfill one or more Of the 10 core human desires
1. Safety / security
2. Health / survival
3. Earning money
4. Finding a partner
5. Learning
6. Impressing others
7. Communicating / connecting
8. New experiences
9. Finding meaning
10. Comfort & relaxation
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The 7 characteristics of a great product
1. Fulfill 1+ core human desire 2. Easy to use 3. Beautiful design 4. Highly effective at stated purpose 5. 4x or more markup over costs 6. Recurring purchase/supply needed 7. An easy to remember name
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The characteristics of a great product
GREAT PRODUCTs BRING JOY to people and
Smiles TO FACES
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The characteristics of a great product
GREAT PRODUCTs ARE SIMPLE ON THE OUTSIDE
AND POWERFUL ON THE
INSIDE
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What is product management?
PRODUCT MANAGEMENT IS THE PROCESS OF DEFINING And prioritizing WHAT You’RE BUILDING
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What is product management?
Good product management Is driven by a vision Of the way the world
Should be
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What is product management?
Good product management Takes into account lots of Metrics and feedback But ultimately should be
Vision-driven
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The right type of Product manager
YOUR GOAL IS TO BE HERE ON THE SPECTRUM OF PRODUCT MANAGERS
Design by Committee hell
Maniacal dictator design
“The green zone”
Open to feedback and data but driven by a strong vision of the
way the world should be.
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What is product management?
YOU WANT TO BE SLIGHTLY RIGHT OF CENTER WITH PM
It is better to have a strong vision And be slightly maniacal Then be unsure about the change You wish to create in the world
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What is product management?
GREAT PRODUCT managers ARE ABSOLUTELY PASSIONATE
ABOUT THE CHANGE THEY WISH TO MANIFEST IN THE WORLD
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Lessons from my 20s
INNOVATION PART II, Section 6
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What is Innovation?
THE PROCESS OF CREATING SOMETHING NEW THAT MAKES LIFE BETTER
Innovation (n.)
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Innovation
INNOVATION IS IMPOSSIBLE WITHOUT PASSION
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Innovation
Most companies aren’t Innovative because they Lack passion
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Innovation
INNOVATORS SEE THE WORLD AS IT SHOULD BE
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Innovation
INNOVATORS BECOME OBSESSED WITH MAKING THE WORLD BETTER
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Innovation
INNOVATORS FOCUS INCESSANTLY ON BRINGING VALUE TO MARKET
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Solving big problems
SOME PEOPLE BELIEVE THE GOVERNMENT SHOULD PLAY NO ROLE IN INNOVATION
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Solving big problems
THE REALITY IS THAT MANY OF THE BIGGEST INNOVATIONS OF THE past 100 years have COME OUT OF GOVERNMENT PROGRAMS
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Solving big problems
EXAMPLES INCLUDE • THE INTERNET • GPS • CT SCANS
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Solving big problems
AND ALMOST EVERY DRUG AND MEDICAL ADVANCE IN THE U.S. COMES OUT OF AN NIh FUNDED PROJECT
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Solving big problems
Government funding For basic research often comes 10-30 years before
Commercialization is possible
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Top MILLENNIAL Innovators
Jack Andraka
At 15 he used carbon nanotube sensors to create a test for pancreatic cancer and won the Intel International Science and Engineering Fair
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Top MILLENNIAL Innovators
Meredith Perry
At 23, she is the CEO of uBeam which is about to launch a device that beams electricity through the air to charge portable electronics wirelessly
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Top MILLENNIAL Innovators
Eesha Khare
At the age of 18 created a device that could charge a mobile phone in 30 seconds. Won the 2013 Intel Foundation Young Scientist Award. Now a Harvard student.
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Top MILLENNIAL Innovators
Robert Pera
By 35 he created a public company worth $3B that is bringing internet access to the developing world through wimax wifi networks
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Innovation
HErE ARE FIVE KEYS TO INNOVATION
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Innovation
Clearly DEFINE THE PROBLEM you’re trying To solve
1
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Innovation
2 THROW OUT AS MANY CONSTRAINTS TO YOUR THINKING AS POSSIBLE
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Innovation
3 ENSURE THOSE WORKING TO SOLVE THE PROBLEM ARE DEEPLY PASSIONATE ABOUT SOLVING THE PROBLEM
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Innovation
4 BRAINSTORM IN SMALL GROUPS Of 3-6 individuals with Diverse perspectives
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DESIGN THINKING
Design thinking is one of the Best processes for
innovation
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The five step design thinking process
Empathize
Define Prototype
Ideate
Test
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Key Materials needed for design thinking exericses
1. Post-its of different sizes/colors 2. Lots + Lots of whiteboard space 3. Whiteboard markers 4. Pens 5. timer
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Step 1: Empathize
Great products start with empathy for the customer And deep problem understanding
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Step 1: Empathize
The best way to have empathy for your customer is to solve a problem
you personally have
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Step 1: Empathize
If it’s not a problem you personally have spend lots of time in the homes and offices
of your customers or users
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Step 2: DEFINE
Define the problem very clearly.
“The problem the customer is facing that we are solving is
_______________________________.
!
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Step 2: DEFINE
Define the human impact of solving the problem
“If we solve this problem, what specific differences will it make
in the lives of our customers/users: ____________________________.
!
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Step 3: IDEATE
Ensure those working with you to solve the problem are deeply passionate about
solving the problem!
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Step 3: IDEATE
Brainstorm with a group of 3-6 people with
Diverse BACKGROUNDS & skillsets
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Step 3: IDEATE
Initially, throw out all Constraints to your thinking Enter a No
Judgment zone
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Step 3: IDEATE
Brainstorm individually on post-its in 5-10 minute timed sessions
before sharing
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Step 3: IDEATE
Begin by Brainstorm individually on post-its in 5-10 minute timed sessions
before sharing
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Step 3: IDEATE
Capture all ideas visually on post-it notes stuck on whiteboards So they are easily
movable
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Step 3: IDEATE
Never criticize an idea in the Ideation phase The crazy stuff can lead to
breakthroughs
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Step 3: IDEATE
After PUTTING UP ALL THE ideas on the wall refine down to the best by giving each person a few votes
using small post-its
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Step 4: Prototype
Quickly prototype 1-3 possible Working solutions to the problem
Paper sketches or wireframes are often sufficient here If it’s a physical product, use a workshop to create a basic version
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Step 4: Prototype
Simpler prototypes are OFTEN BEST FOR ALLOWING
RAPID learning and iteration
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Step 5: TEST
Now test the prototypes with Actual potential customers
See what they think Then make it better
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Step 5: TEST
Keep iterating designs & Improving Until you can convince customers
To pay for what you’ve built
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THE LEAN STARTUP PROCESS
THE LEAN STARTUP PROCESS IS ANOTHER INNOVATION PROCESS
Designed to lead to QUICK LEARNINGS & RESULTS
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THE LEAN STARTUP PROCESS
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The benefits of the leAn startup method
1. Fast testing + learning
2. Low cost
3. Fail fast and pivot quickly
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THE downsides of the LEAN STARTUP PROCESS
1. Often doesn’t allocate enough time to the
brainstorming process (go straight from idea to
build)
2. Can focus too much on finding “anything that
customers will pay for” rather than solving a
problem that matters in the world
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Lessons from my 20s
VENTURE CAPITAL
PART II, Section 7
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Venture Capital
IF POSSIBLE TRY TO GET AS FAR AS YOU CAN WITHOUT RAISING OUTSIDE CAPITAL
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Venture Capital
IN THE BEGINNING DO WHATEVER IT TAKES
TO KEEP COSTS LOW
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Venture Capital
In a b2b business Focus on getting Revenue from customers
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Venture Capital
You’ll have a higher Chance of success if you Get paying customers before raising outside $$
(or at least 10,000+ users)
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Venture Capital
The biggest mistake Entrepreneurs make Is raising too much Before they are ready
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Venture Capital
AT ICONTACT WE BOOTSTRAPPED FOR THE FIRST 3 years
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Venture Capital
AT CONNECT WE BOOTSTRAPPED FOR THE FIRST 2 years
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What is bootstrapping
Bootstrapping means Operating without Raising Outside capital
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What is bootstrapping
Most companies should Bootstrap for 12-36 mos before they are ready For outside capital
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What is bootstrapping
If you don’t have a product Yet, you definitely should Not be raising VENTURE capital
(except!in!very!capital!intensive!businesses!like!drug!discovery)!
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Test demand before raising money by creating an inexpensive prototype and then improve until customers love your product
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Venture Capital
WHERE TO LOOK DEPENDS ON HOW MUCH YOU NEED AND HOW FAR ALONG YOU ARE
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The different types of capital available by stage <$50k
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
$50k-$500k $500k to $1m
Yes
Yes if available
Yes if available
Yes Yes
Yes Yes
Yes Yes
Yes Yes
Yes Yes
Yes Yes
Yes
Yes
Sources of Funds
Side jobs
Credit cards
Your savings
Friends & family
Kickstarter
Indiegogo
Fundable
AngelList
Angel investors
Banks
Super angels
Seed stage VC
Growth stage VC
Mezzanine debt
Late stage VC
Private equity
Public markets
PIPES
Corporate bonds
$1m to $5m $5m to $25m $25m to $100m >$100m
Yes
Yes
Yes Yes
Yes Yes
Yes Yes Yes Yes
Yes Yes Yes
Yes Yes Yes
Yes Yes
Yes Yes
Yes
Yes
Yes
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Angel rounds
angellist Is the best place To find early stage Angel investors
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The power of angellist
In june 2008 Connect raised $2.8M From investors on angellist Like jason calacanis, brad feld, And scot and cyan banister
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The power of angellist
Angels often act in packs So it is useful to secure a Lead Angel investor Who will set the terms Before reaching out widely
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Syndicates
Top angels have packs of Other angels who follow them And invest in what they invest in
These are called syndicates
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Venture Capital
fundable Is another good place To find early stage Angel investors
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entrepreneurship!
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Convertible notes
A convertible note Is a loan that converts Into equity at your Next raise usually at a discount To the future price
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Convertible notes
Most early stage seed Deals in silicon valley Are now done as Convertible notes
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The Key Terms of a Convertible note
Amount invested Discount rate Valuation cap Pro rata rights Interest rate
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Venture Capital
In a b2b business AVOID RAISING MORE THAN 10x your current ANNUALIZED REVENUE
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Venture Capital
So if your current Annual revenue run rate Is $500k Raise up to $5M
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Venture Capital
if your current Annual revenue run rate Is just $30k
Focus on increasing sales Not raising capital
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Venture Capital
If you raise too much Your monthly expenses Will get too far ahead Of your revenue
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Venture Capital
And when monthly expenses ExceeD revenue by too much You go bankrupt
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Raising an angel round
For b2b software companies The right
Time To RAISE An angel round is when
You have a working product AND
At least 5 paying customers
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Raising an angel round
For b2C applications The right
Time To RAISE An angel round is when
You have a working product AND
At least 1000 daily users
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Your negotiating power is based on
LEVEL OF NEED FOR THE MONEY YOUR EXPERIENCE YOUR TEAM PRODUCT & TECHnOLOGY COMPETITION OTHER TERM SHEETS QUALITY OF YOUR ADVISORS
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The most important investment terms
VALUATION OPTION POOL SIZE LIQUIDATION PREFERENCES
FOUNDER REVESTING PREFERRED VETO RIGHTS TYPE OF PREFERRED STOCK
BOARD SEATS
$ THE HIGHEST VALUATION Isn’T ALWAYS BEST
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Factors in Selecting Your INvestors
CHEMISTRY WITH THE PARTNER OPERATIONAL EXPERIENCE CURRENT PORTFOLIO ALIGNMENT PARTNER/FIRM EXIT RESULTS EXECUTIVE RECRUITING ABILITY TERMS OF INVESTMENT
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TECH PRE-REVENUE VALUATION GUIDELINES
• CEO Past exits • TEAM EXPERIENCE • NUMBER OF USERS • NUMBER OF ENGINEERS • LOCATION OF COMPANY
X2 if you’re in silicon valley
$1m to $25m PMV depending on Factors like
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Pre-Revenue Valuation example
b2c tech COMPANY RUN BY FIRST TIME ENTREPRENEUR
with 1 engineer
Pre-Money Valuation: $1m-$3m
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Pre-Revenue Valuation example
b2c tech COMPANY RUN BY FIRST TIME ENTREPRENEURS
who have been through y combinator with a good
idea AND 2 engineers
Pre-Money Valuation: $5M-$10M
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Pre-Revenue Valuation example
INCORPORATED tech COMPANY run By experienced CEO
with 10 years c-level experience, $100m prior Exit,
& 5 engineers
Pre-Money Valuation: $10m-$25m
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Raise a Seed round or series A?
Typical Seed Round Company Typical Series A Company
Employees 1-10 10-50
Time since incorporation 6 months-2 years 2-5 years
Traction if consumer Working product, pre-launch up to 100,000 Daily Active Users
Over 100,000 DAUs
Traction if enterprise $0 to $50k/monthly revenue $50k to $500k in monthly revenue
Valuation range in Silicon Valley
$3M to $15M $10M to $60M
Valuation range elsewhere
$1M to $7M $5M to $30M
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post-Revenue Valuation GUIDELINES
AS YOU GO ABOUT FUNDRAISING
YOU USUALLY WANT TO CREATE
A COMPETITIVE PROCESS
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post-Revenue Valuation GUIDELINES
BUILD a series A FUNDING PROCESS TO ENSURE YOU RECEIVE
MULTIPLE TERM SHEETS
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post-Revenue Valuation GUIDELINES
RAISE MONEY only from SMART PEOPLE YOU REALLY LIKE You’LL BE MARRIED to Them FOR THE NEXT
3-10 years
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Best venture funds in my opinion
Andressen horowitz Sequoia Kleiner perkins accel Benchmark greylock Nea Bessemer Google ventures Founders fund
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post-Revenue Valuation GUIDELINES
WAIT TO RAISE your series a UNTIL You HAVE PROVEN MATHEMATICALLY THAT X DOLLARS SPENT BRINGS Y DOLLARS BACK
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Ryan’s three rules of entrepreneurship
1. Create products customers love (by overinvesting in UX testing!)
2. Spend 1/3rd of your time recruiting excellent people
3. Don’t raise venture capital until you have proven customer demand
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Timing of icontact fundraises
Date Capital raised Annual
revenue Capital source Capital type
Pre-money valuation
Post-money valuation
Jun 2003 $5k $5k Friend Loan N/A
N/A
May 2006 $500k $1.5m IDEA Fund Seed stage $16m $16.5m
Jun 2007 $5.3m $5.5m Updata Series A $27m $32.3m
Aug 2010 $25m $38m JMI Equity Series B $100m $125m
Feb 2012 N/A $49M Vocus Sale of Company
$170M N/A
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Lessons from my 20s
marketing PART II, Section 8
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What is a brand?
A BRAND IS SIMPLY THE AGGREGATEd SUM TOTAL OF EVERY Human BEING’S EXPERIENCE WITH YOUR COMPANY & PRODUCTs
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A good brand name
1 or 2 syllables
Easily spellable
Easily pronounceable
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marketing
GOOD MARKETING IS JUST GOOD STORYTELLING ACROSS MULTIPLE MEDIA IN A TRACKABLE AND FINANCIALLY SCALABLE MANNER
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marketing
MARKETING IS GENERATING AN INTERESTED LEAD SALES IS TURNING THE LEAD INTO A CUSTOMER And ACCOUNT MANAGEMENT IS TURNING A CUSTOMER INTO
A LIFETIME EVANGELIZER
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marketing
IN TODAY’s WORLD MARKETING STARTS WITH your PRODUCT
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marketing
YOU Can’T SUCCEED MARKETING A CRAPPY PRODUCT FOR LONG
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marketing
SO IF You’re marketing A CRAPPY PRODUCT STOP
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marketing
AND PUT YOUR FUNDS INTO BUILDING A GREAT PRODUCT
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marketing
THEN WHEN YOU HAVE A GREAT PRODUCT START STORYTELLING
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The 6 keys to success with marketing
1. AMAZING WORD OF MOUTH FROM A GREAT PRODUCT 2. KNOWING THE LIFETIME VALUE OF A CUSTOMER 3. A TRACKING SYSTEM THAT CAN TELL YOU COST PER LEAD,
cost per customer/user, and CONVERSION RATE PER CHANNEL
4. CONSTANT TESTING OF NEW CHANNELS, CREATIVE, AND FUNNEL PROCESSES
5. GREAT STORYTELLING
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Always be testing
10% of your MONTHLY Advertising budget Should be spent on TESTING NEW CHANNELS
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Know your CAC
You don’t KNOW YOUR CUSTOMER ACQUISITION COST? ARE YOU SERIOUS?
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Know your LTV
You don’t KNOW YOUR Customer LTV? ARE YOU SERIOUS?
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Know your LTV
Monthly Revenue Average Customer Life Lifetime Revenue
What You Can Spend to Acquire a New Customer
Recurring Customer $50 48 Months $2400 Up to $800
ROUGH EXAMPLE DETERMINING WHAT YOU CAN SPEND TO ACQUIRE A NEW RECURRING CUSTomER
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Know your LTV
Average Purchase Price
Average Number of Purchases Within 3
Years
3 Year Revenue Estimate
What You Can Spend to Acquire a New
Customer
Non-recurring Billed Customer $50 6 $300 Up to $100
ANOTHER ROUGH EXAMPLE DETERMINING WHAT YOU CAN SPEND TO ACQUIRE A NEW CUSTomER
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Know your LTV
SCALE YOUR AD BUDGET SCIENTIFICALLY BY TRACKING LEAD ACQUSITION COST
& CONVERSION RATE BY ADVERTISING CHANNEL
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Online Marketing channels
SEO – GOOGLE, YAHOO, BING
PPC - GOOGLE Adwords / BING ADCENTER
SOCIAL PRESENCE – FACEBOoK, TWITTER, youTUBE
SOCIAL ADS – FACEBOOK, TWITTER, Youtube ADS
DISPLAY – BANNER ADVERTISING
AFFILIATES – CJ & LINKSHARE
Review SITES – YELP, CITYSEARCH, GOOGLE LOCAL
DAILY DEALS – GROUPon & LIVINGSOCIAL
EMAIL FOLLOWUP – iCOntact & MAILCHIMP
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MOBILE advertising channels
Facebook CPI Ads
Twitter CPI Ads
TapJoy
ChartBoost
Vungle
Fiksu
nativex
Adcolony
Fyber
Flurry
APPIA
Admob
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Offline advertising channels
TELEVISION
PRINT ADVERTISING
RADIO
YELLOW PAGES
buses
DIRECT MAIL
TRADESHOWS
EVENT SPONSORSHIPS
BILLBOARDS
CAMPUS REPS
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Offline advertising channels
THE KEY IS TO TEST ALL OF THE CHANNELS AND TRACK THE
ACTUAL RESULTS FROM EACH ONE
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To grow your sales & Acquire more customers
CALCULATE CPL & COnVERSION RATE BY CHANNEL DETERMINE WHAT YOU CAN PAY PER NEW CUSTOMER TEST NEW ADVERTISING CHANNELS SCIENTIFICALLY CREATE A PREMIUM VERSION OF YOUR PRODUCt TEST DOUBLING YOUR PRICE AND SEE WHAT HAPPENS GET MORE AFFILIATES/DISTRIBUTORS OPEN UP MORE SALES OFFICES OPEN UP MORE RETAIL LOCATIONS BUILD ADDITIONAL PRODUCTS HIRE MORE SALES PEOPLE HIRE SOMEONE TO SELL MORE TO EXISTING CUSTOMERS RAISe CAPITAL AND EXPAND YOUR ADVERTISING
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Why most startups fail
1. Co-founder issues
2. Product doesn’t solve a real problem
3. Never charge for product
4. Poor sales and marketing
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Icontact revenue growth
$0
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
2003 2004 2005 2006 2007 2008 2009 2010 2011
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Icontact customer growth
0
10000
20000
30000
40000
50000
60000
70000
2003 2004 2005 2006 2007 2008 2009 2010 2011
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Connect User Growth six months after launch
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
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Primary icontact customer acquisition channels
1. Google AdWords
2. Facebook Ads
3. Affiliate Program
4. Banner Ads
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Google adwords
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Facebook Ads
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Doubleclick Ad manager
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Commission junction
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Track your customers by channel
Set up Google Analytics so you can
calculate your customer acquisition
cost by marketing channel
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Google Analytics
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Track your iusers by channel
Set up Mobile App Tracking (MAT)
so you can calculate your user
acquisition cost by mobile ad network
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Unit economics
It is extremely important to
Understand the unit economics
Of your business
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Understanding Unit economics
Unit economics include the lifetime value of
Each new customer to your business (LTV)
As well as the customer acquisition cost (CAC)
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A definition of lifetime value
Lifetime value (n) How much a customer is worth to you
in revenue throughout their time as a customer with your company.
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Icontact ltv example
Avg. Monthly Rev Per Customer = $50 Avg. Monthly Churn = 3.3% Avg. Customer Life = 30 Months
LTV = ? 50 x 33 = $1500
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How much to spend on marketing
You can spend about 1/3rd of your LTV in sales and
marketing expenses to acquire a customer
If LTV = $1500
$500 Max CAC =
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Example of calculating cac
=
CAC = Total Sales & Marketing Expenses
Total Customers Acquired in a Month
$2,000,000 4000
$500
=
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Sales teams
When your product or service costs over over $500/mo, or $5k total.
When should you create a sales team?
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Lessons from my 20s
CREATING systems
PART II, Section 9
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A quote
“Achievement comes to someone when he is able to
do great things for himself. Success comes when he
empowers followers to do great things with him.
Significance comes when he develops leaders to do
great things for him. But legacy is created only when
a person puts his organization into the position to do
great things without him.” -JOHN C. MAXWELL
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Systems
SYSTEMS ARE A COLLECTION OF PROCESSES THAT RUN
WITHOUT YOU
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Examples of Systems
PERFORMANCE REVIEWS OFFICE FOOD DELIVERY NEW EMPLOYEE TRAINING DOWNTIME NOTIFICATION OPERATIONS REVIEWS PRODUCT FEEDBACK PURCHASE ORDERS FINANCIAL PLANNING PAYROLL CLIENT SATISFACTION VACATION REQUESTS
MARKETING TESTING RFP MANAGEMENT EXPENSE REIMBURSEMENT HARDWARE SETUP TAX DOCUMENTATION LEGAL CONTRACTS 360 FEEDBACK JOB DESCRIPTIONS EXTERNAL COMMUNICATIONS INTERNAL COMMUNCIATIONS ACCOUNTING
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Systems
AFTER THE FIRST two years Your success is DETERMINED MORE BY THE PEOPLE YOU HIRE THAN BY YOU SO STOP TRYING TO DO
EVERYTHING
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Systems
FOR A BASIC ACCOUNTING SYSTEM WE USE QUICKBOOKS ONLINE
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Systems
BE SURE TO TRACK YOUR BOOKS ACCURATELY FROM THE BEGINNING
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Systems
AND ALWAYS SEPARATE PERSONAL AND BUSINESS EXPENSES
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Systems
Investors don’t Invest in systems
That go home at night!
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Systems
To create a great Organization You must Build a system to CULTIVATE GREATNESS In others
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systems
ONCE YOU GET pAST 20 EMPLOYEES CONDUCT ANNUAL ONLINE 360° Reviews
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systems
MAKE SURE YOUR INCENTIVE STRUCTURE incentivizes THE RIGHT GOALS
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Business lessons Learned
GIVE IMMEDIATE AND SPECIFIC FEEDBACK
MORE OFTEN
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Lessons from my 20s
Building a team
PART II, Section 10
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Building a team
Make sure you’re PASSIONATE ABOUT WHAT YOU ARE LEADING YOUR TEAM TOWARD ACCOMPLISHING. IF You’RE NOT PASSIONATE ABOUT ACHIEVING THIS GOAL YOU ARE LEADING THE
WRONG ORGANIZATION
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Building a team
SURROUND YOURSELF WITH PEOPLE SMARTER THAN YOURSELF PEOPLE WHO HAVE HIGH INTEGRITY AND PEOPLE PASSIONATE ABOUT ACHIEVING THE SAME GOAL YOU
ARE PASSIONATE ABOUT
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Building a team
ONLY HIRE SOMEONE AS A DIRECT REPORT IF HE OR SHE CAN DO THEIR JOB 2x BETTER THAN
YOU COULD
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Building a team
NEVER HAVE MORE THAN SEVEN DIRECT REPORTS
SIX if you have to manage the Board of Directors as well
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Building a team
MAKE SURE YOU AND YOUR TEAM ARE COMPLETELY CLEAR ON WHAT YOU ARE TRYING TO ACHIEVE, BY WHEN, the definition of success, and why WHAT you’re trying to achieve
MATTERS IN THE WORLD
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Many leaders HAVE A VISION But don’t COMMUNICATE IT
Building a team
Don’t make this mistake
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Building a team
PAINT A CLEAR VISION AND COMMUNICATE IT SUCCINTLY, VISUALLY, BROADlY, and REPEATEDLY. KNOW WHERE YOU ARE GOING AND THEN
LEAD PEOPLE THERE
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Building a team
YOUR JOB IS TO DEFINE OBJECTIVE SUCCESS FOR EACH OF YOUR DIRECT REPORTS AND THEIR JOB IS TO DEFINE SUCCESS FOR EACH OF THEIR
DIRECT REPORTS
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Building a team
INTEGRATE SUCCESS FOR THE INDIVIDUAL TOWARD HIS OR HER OWN LIFE GOALS WITH SUCCESS FOR THE PROJECT
AND THE COMPANY
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Building a team
DEFINE SUCCESS QUANTITATIVELY
Real-time MONITOR THEN TRACK IT ON A
Visible to all team members
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Building a team
MAKE SURE YOUR TEAM KNOWS THAT TRUE LEADERS
MAKE A COMMITMENT TO ENSURING THAT THE PERSON
WHO FOLLOWS THEM IS BETTER THAN THEY WERE
ASK EACH TEAM MEMBER TO IDENTIFY & TRAIN THEIR
Replacement before LEAVING and in exchange
YOU WILL NEVER SURPRISE THEM WITH TERMINATION
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Building a team
ASK YOUR TEAM TO NEVER LET SOMETHING IMPORTANT
GO UNSAID
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LISTEN & proACTIVELY SEEK OUT INFORMATION FROM YOUR TEAM
Building a team
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GOOD LEADERS SEEK OUT & ASK FOR
UNPOPULAR OPINIONS FROM THEIR TEAM
Building a team
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ALWAYS TAKE THE TIME TO EXPLAIN THE MENTAL MATH BEHIND YOUR DECISIONS
Building a team
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IF YOU WANT TO ACHIVE A DIFFICULT GOAL CREATE An INCENTIVE PRIZE WITH CLEAR GUIDELINES AND PUBLICIZE IT
(Why hackathons & XPRIZE work so well)
Building a team
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EVERY MEMBER OF YOUR TEAM
SHOULD HAVE A SIGNIFICANT PORTION OF THEIR COMPENSATION TIED TO pre-DEFINED COMPANY SUCCESS METRICS
Building a team
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TREAT your PEOPLE WITH RESPECT AT ALL TIMES
Building a team
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WORK HARD & ALONGSIDE YOUR TEAM
Building a team
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DON’t be
TOO SERIOUS (Life is short. Have fun with what you’re doing)
Building a team
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MAKE SURE EVERYONE KNOWS THEY CAN TALK TO YOU
ANYTIME
Building a team
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BUILD CARING RELATIONSHIPS WITH YOUR DIRECT REPORTS
Building a team
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COMMEND MORE THAN
YOU CRITICIZE
Building a team
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CONsCIOUSLY BUILD AN AMAZING CULTURE
Building a team
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create an environment in which Each team Member can do the Most Inspired work
Of their lives
Building a team
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A startup ceo’s role includes
VISION STRATEGY PRODUCT CREATION FINANCING MEDIA RELATIONS
CULTURE LEADERSHIP TEAM RECRUITING OPERATIONS BOARD RELATIONS
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The role of the ceo
As you grow, you’ll hire experienced
People for each of the major roles
Like sales, marketing, recruiting, HR,
engineering, design, operations,
product & customer support
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You can recruit via
Your c-level team SHOULD BE EXCLUSIVELY
MADE UP OF JEDIS
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The role of the later stage ceo
1. Set strategy & vision 2. Set production direction 3. Recruit & lead senior team 4. Oversee resource allocation 5. Communicate to stakeholders 6. Build a great culture
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The role of the ceo
Your role as CEO is not to micromanage
It’s to hire people more experienced
than you in their areas and provide the
big picture
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GREAT CEOS are good at
Public speaking
Connecting deeply with team
Sharing their passion
Raising funding
Understanding customer needs
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My Favorite interview questions to ask
WHAT ARE YOU PASSIONATE ABOUT? TALK ABOUT SOME OF THE EXPERIENCES IN LIFE THAT HAVE BEEN VERY CHALLENGING WHAT CHANGE DO YOU WANT TO MAKE IN THE WORLD IN YOUR LIFETIME? IF YOU MET AN ALIEN, HOW WOULD YOU DESCRIBE YOURSELF? TELL ME ABOUT YOUR FAILURES TELL ME ABOUT THE GOALS YOU HAVE
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You can recruit via
EXISTING EMPLOYEE REFERRALS COMPETITORS linkedin Hired/angelList YOUR INVESTORs’ CONTACTS CORPORATE RECRUITERS PRESS PICKUPS
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The best team
THE BEST TEAM MEMBERS ARE OFTEN THE ONES WHO ARE CURRENTLY
EMPLOYED
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Let people go who aren’t working out
IF SOMEONE ISN’T WORKING OUT LET THEM GO AND FREE THEM UP TO DO SOMETHING THEY
ARE GOOD AT
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Building connection & Familiarity within your team
HERE ARE 4 retreat Exercises that are Worthwhile to do with
Your team
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Team Retreat Exercises
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Exercise 1: Inner and outer story
ASK each TEAM member TO share:
1. 120 seconds - ACCOMPLISHMENTS and resume (OUTER STORY) 2. 240 seconds – YOUR HIDDEN INNER STORY
Deep down inside what do you worry about? What are you insecure about? WHAT HAVE YOU STRUGGLED WITH MOST IN THE LAST 2 years? What are you afraid of BEHIND THE FAÇADE?
FOR A SUCCESSFUL EXERCISE, BE SURE TO TAKE THE TIME TO Create a setting of confidentiality and openness to being vulnerable
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1. HAVE EACH team member SPEND 5 minutes to think about and then WRITE DOWN in NO MORE THAN 10 words THE ANSWER TO: “what change do you want to make in the world WITH YOUR LIFE?”
2. Then have each person share their 1 sentence with the group 3. THEN have EACH PERSON ONE AT A TIME STAND UP AND ANSWER THE
QUESTION “WHY DO YOU DO WHAT YOU DO?” For 4 minutes For a successful exercise • If the speaker finishes talking before the 4 minutes is up, ask them the question again
and have them answer it again • Don’t allow any other question to be asked during the 4 minutes
Exercise 2: the change you wish to make
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1. HAVE EACH PERSON WRITE DOWN 4 pivotal moments in their life
2. HAVE EACH PERSON SHARE THE 4 pivotal moments and how they handled them and dealt with them with the group
FOR A SUCCESSFUL EXERCISE • CREATE AN ENVIRONMENT OF CARE AND CONFIDENTIALITY
Exercise 3: Pivotal moments
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1. PAIR OFF INTO TWOs IN A QUIET LOCATION 2. HAVE ONE PERSON TAKE 5 minutes to share the story of the
most difficult and vulnerable MOMENT IN THEIR LIFE 3. HAVE THE PARTNER ASK EXACTLY 3 follow-up questions 4. THEN SWITCH ROLES FOR A SUCCESSFUL EXERCISE • ALLOT AT LEAST 30 minutes for the exercise as the exercise can
bring up difficult emotional situations that require time to process BEFORE THE SESSION CONTINUES
Exercise 4: Crucible moments
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Lessons from my 20s
Strategy & Execution
PART II, Section 11
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strategy
Your strategy should be TO BE THE BEST in the world AT ONE THING
So CHOOSE CAREFULLY
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strategy
STRATEGY IS THE COLLECTION OF UNIQUE PROCESSES THAT WORK IN UNISON TO ENABLE YOUR FIRM TO BE THE BEST IN THE WORLD
AT ONE THING
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strategy
STRATEGY IS ABOUT TRADEOFFS
YOU MUST CHOOSE WHAT NOT TO DO
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strategy
STRATEGY INVOLVES CHOOSING TO PERFORM ACTIVITIES DIFFERENTLY
THAN others
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strategy
NEVER CREATE STRATEGY IN A ROOM OF MORE THAN FIVE PEOPLE
CEO Head of Product Head of Technology Head of Sales Head of Service Head of Marketing Head of OPERATIONS
CHOOSE FIVE
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At your quarterly Planning sessions with your senior team Update your one-page
strategic plan
See an example at: bit.ly/1pagestrategy
Operational execution
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Operational execution
BUILD CONSENSUS WITH A SMALL CORE BEFORE YOU SHARE WIDELY
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Operational execution
ONCE YOU ALIGN THE CORE ALIGN THE NEXT LAYER THEN THE NEXT
THEN THE NEXT
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Operational execution
WAY TOO MUCH TIME IS SPENT in MEETINGS
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At your company ADOPT a MAKER’S SCHEDULE
Operational execution
See: www.paulgraham.com/makersschedule.html
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Engineers and creatives Need at least 4 hour blocks Of Uninterrupted time To get anything done
(so stop overscheduling them in meetings)
Operational execution
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At most Have one daily standup meeting In which you actually stand
So it takes less than 15 mins
Operational execution
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Once your company
gets beyond 30 employees
hire a COO to keep the trains
running on time and to focus on cross
department projects & metrics
Operational execution
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All creative or technical CEOs
Need a really good
Ops Person
Operational execution
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Create numerical goals in advance
with each of your team members
Hold them accountable to the goals
not to methodology!
Operational execution
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Hold a quarterly 2-day planning sessions each quarter and an annual
4 day team retreat
Operational execution
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ONCE YOU AND YOUR TEAM HAVE YOUR PLAN COMMUNICATE IT in A MEMORABLE WAY WITH VISUAL AND NUMERICAL REINFORCEMENT TO THE FULL TEAM THEN FOCUS ON EXECUTING WITH FANATICal DISCIPLINE & RECOMMUNICATE AND REINFORCE AT LEAST
MONTHLY
Operational execution
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Operational execution
HOLD PEOPLE ACCOUNTABLE TO PRE-DEFINED MEASURABLE RESULTS NOT TO THEIR METHODOLOGy AS LONG AS THEY ARE TREATING
PEOPLE WELL
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Operational execution
ONCE YOU’RE CLEAR ON STRATEGY DON’T SKIMP ON OPERATIONALIZING THE STRATEGY PLAN TEAMS IN LARGER COMPANIES GET OFF TRACK HERE FIGURE OUT WHAT RESOURCES ARE NEEDED TO ACHIEVE TEAM GOALS AND FIGURE OUT THE METRICS THAT ENABLE THE FOCUS NECESSARY AND TRACK
THEM VISUALLY
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Track your key
metrics visibly on a
real time dashboard
Operational execution
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Operational execution
SHOW results for up to 5 COMPANY-wide goals IN REAL TIME AND ON A MOUNTED AND VISIBLE MONITOR MAKE YOUR RESULTS AND KPIS VISIBLE AND CLEAR BE TRANSPARENT to your full company and
MEASURE what MATTERS
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Operational execution
CONSTANTLY be TESTing. As jim collins says FIRE BULLETS TO FIND WHAT WORKS SEE WHAT WORKS THEN FIRE CANNONBALLS
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When to hire key team members
Office Manager/EA 10 employees
CFO 20 employees
COO 30 employees
Dir of HR 40 employees
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Operational execution
PART OF THE CEO’s JOB IS TO FIND & HIRE PEOPLE WHO CAN DO THEIR ROLES MUCH BETTER THAN THE CEO COULD
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Operational execution
WHEN YOU SEE SOMEONE DOING A GOOD JOB TELL THEM!
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Operational execution
THERE IS GREAT POWER IN DEADLINES CREATE SOME!
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What a CEO Does in Year one
Team Size Key Actions 1-3 • It’s all you to start.
• Incorporate and get an EIN.
• Get a bank account.
• Find a business partner with a complementary skillset if needed.
• Make sure you have $25,000 saved up to get started
• Focus on product development and getting something to market
that solves a customer need.
• Create something of value to others and sell, sell, sell!
• Get customer feedback and use it to make your product better.
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What a CEO Does in year two
Team Size Key Actions
4-9 • Do all you can to enable the company to survive
• Build an Advisory Board
• Hire your first employees
• You should be in charge of product or sales or both
• Set up a basic low cost office space
• Outsource your payroll
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What a CEO Does in year THREE
Team Size CEO Role
10-25 • Hire an outside bookkeeper/accountant to produce monthly financial statements by the
20th of the following month • Put real time visible dashboards in place • Everyone won’t report to you anymore. • Start putting managers in place. • Figure out your unit economics and consider raising funding to invest in growth. • Hold a weekly meeting with either the whole company or all the key operational individuals • Hire people more experienced than yourself for the role you are hiring for, even if you have
to wait a bit longer to be able to afford them. • Keep the organization focused on selling and growing. • Put in place an employee handbook • Define your values • Define your mission and vision • Put in place a formal performance review process and ensure a manager conversation and
performance review is completed at least every 12 months, including 360 reviews in which peers and staff review their managers.
• Set up an options plan • Install a CRM system
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What a CEO Does in year Four
Team Size Key Actions
26-50 • Start a weekly meeting with your Senior Leadership Team, Leadership Team, and Managers • Start a weekly meeting with just your Senior Leadership Team • Hire a COO, Controller or CFO, a Director of Human Resources, and an Administrative
Assistant. • Make sure your Controller/CFO begins providing monthly accurate financial statements
to you by the 20th of the following month in GAAP format and Managerial format • Document your systems and processes in an employee handbook. • Set KPIs and have your team report on them weekly. • Put in place documented incentive compensation systems. • Think about creating systems to ease internal employee communication, like internal wikis,
company meetings, external events, and retreats. • Start using a One Page Strategic Plan with a quarterly theme. • Have formal annual planning meetings to set or communicate both strategy and budgets
for the upcoming year. • Start investing consciously in shaping your company culture. • Start investing consciously in managerial and leadership development courses for your
managers and future managers. • Hire an Auditor to audit your annual financial statements
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What a CEO Does in year Five and six
Team Size Key Actions
51-200 • Define your company’s hedgehog concept (what you can be the best in the world at, what
you’re passionate about, what drives your economic engine?) • Implement The Five Dysfunctions of a Team Material throughout the organization • Launch a formal corporate social responsibility program • Start thinking about what new markets your organization can go into the future and figure
out what your next product cycle will be • Think about what the next big thing will be in your broad industry and position your
company to be the leader in it • Start top-grading your people and letting go of the bottom 10-20% annually • Constantly ask yourself what will be driving revenue growth most in 24 months? • Put in place a system that will enable you and your leaders to know everyone’s name • Launch an HRIS to automate your human resources functions like talent recruitment,
performance management, compensation, and employee training. • Implement the Service Profit Chain from Peak • Switch to a Big 4 Auditor • Launch a Corporate Development Department • Hire an Investment Bank If Needed to Evaluate M&A opportunities
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What a CEO Does in year SEVEN AND EIGHT
Team Size CEO Role 200+ • Consider scaling yourself by separating the organization into
different business units with GMs or Presidents
• Your role is now divided into five parts, described below.
• Set Strategy and Vision
• Manage the Senior Team
• Communicate with Stakeholders
• Oversee Resource Allocation
• Build the Culture
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Recommend Books on Execution
1. Good to Great by Jim Collins
2. Built to Last by jim collins
3. Execution by Ram Charan
4. Peak by Chip Conley
5. Mastering the Rockefeller Habits by Verne Harnish
6. The Future of Management by Gary Hamel
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Lessons from my 20s
the steps to get started
PART II, Section 12
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100 Steps in review
1. FIGURE OUT WHAT CHANGE you WANT TO MAKE IN THE WORLD
2. BEGIN RESEARCHING THE INDUSTRY AND COMPETITORs
3. DETERMINE HOW TO CREATE YOUR PRODUCT
4. TALK TO POTENTIAL CUSTOMERS FOR FEEDBACK
5. COME UP WITH NAME FOR YOUR COMPANY/PRODUCT
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100 Steps in review
6. BUILD YOUR PITCH DECK
7. CREATE PRO FORMA FINANCIAL PROJECTIONS
8. DETERMINE CAPITAL NECESSARY TO GET TO CASH
FLOW POSITIVE
9. GET FEEDBACK ON PITCH DECK FROM ADVISORS
10. FIND A CO-FOUNDER IF NEEDED
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100 Steps in review
11. SELECT A QUALITY CORPORATE LAW FIRM IN YOUR AREA
12. INCORPORATE & OBTAIN AN EIN
13. OPEN A COMPANY BANK ACCOUNT
14. TALK TO YOUR ATTORNEY ABOUT MAKING an 83b election
15. BUILD BASIC PRODUCT PROTOTYPE/Minimum viable
product
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100 Steps in review
16. CREATE EMPLOYEE AGREEMeNTS FOR EVERYONE
17. CREATE CONFIDENTIALITY AGREEMENTS FOR
EVERYONE
18. HOLD INITIAL BOARD OF DIRECTORS MEETING
19. CREATE YOUR RSU/STOck options plan
20. ISSUE STOCK CERTIFICATES
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100 Steps in review
21. FUND YOUR BANK ACCOUNT AND ORDER CHECKS
22. DETERMINE IF YOU NEED OUTSIDE CAPITAL TO
START
23. RAISE ANY INITIAL STARTUp CAPITAL NEEDED
24. GET A COMPANY DEBIT/CREDIT CARD
25. SET UP YOUR ACCOUNTING SOFTWARE
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100 Steps in review
26. SELECT YOUR PAYROLL PROVIDER
27. TRADEMARK THE NAME(S) of your company /
Product
28. DESIGN YOUR LOGO
29. CREATE BUSINESS CARDS
30. FIND OFFICE SPACE TO WORK OUT OF
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100 Steps in review
31. FURNISH YOUR OFFICE AS NEEDED
32. PURCHASE ANY SOFTWARE/HARDWARE YOU WILL
NEED
33. GET WIRELESS INTERNET ACCESS SETUP AS NEEDED
34. OBTAIN A UPC IF YOUR PRODUCT WILL BE SOLD IN
STORES
35. DESIGN LABELING/PACKAGING IF NECESSARY
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100 Steps in review
36. FINISH PRODUCT ALpHa/PROTOTYPE
37. GET INITIAL USER/CUSTOMER FEEDBACK
38. ORDER INITIAL INVENTORY OF PRODUCTS IF NEEDED
39. REGISTER YOUR DOMAIN NAME
40. DESIGN YOUR COMPANY WEB SITE
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100 Steps in review
41. INSTALL GOOGLE ANALYTICS ON YOUR WEB SITE
42. IF NEEDED, INSTALL SHOPPING CART ON WEB SITE
43. APPLY FOR MERCHANT ACCOUNT TO ACCEPT CREDIT CARDS
44. SIGN UP FOR EMAIL LIST TOOL like icontact or
mailchimp
45. Optimize your web site for search engines & ADD
BLOG
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100 Steps in review
46. INSTALL A CRM SYSTEM
47. HIRE INITIAL STAFF AS NEEDED
48. CREATE COMPANY VALUES & MISSION STATEMENT
49. ANNOUNCE PROdUCT LAUNCH TO LOCAL/RELEVENT
MEDIA
50. HOLD LAUNCH EVENT & START SELLING
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100 Steps in review
51. HIRE A TEAM TO FULFILL ORDERS & PROVIDE
CUSTOMER SERVICE
52. START An AFFILIATE OR DISTRIBUTOR PROGRAM
53. BUILD UP AFFILIATES & DISTRIBUTORS
54. SET UP An AD TRACKING SYSTEM
55. TRY CPC/CPI/CPA ADVERTiSING WITH TEST BUDGET
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100 Steps in review
56. GET RESULTS FROM THIS ADVERTISING
57. OPTIMIZE AND SCALE AS NEEDED
58. DETERMINE COST OF ACQUISITION A LEAD FOR EACH
CHANNEL
59. DETERMINE CONVERSION RATE FOR EACH CHANNEL
60. DETERMINE LIFETIME VALUE OF A CUSTOMER
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100 Steps in review
61. Test CPC/CPI/CPA Ads with bigger budget now that you
know LTV
62. TEST SOCIAL ADS & DISPLAY ADS & CALCLATE ROI BY CHANNEL
63. SCALE ADVERTISING UNTIL MARGINAL COST = MARGINAL RETURN
64. OPTIMIZE ADVERTISING to bring down CAC
65. COLLECT TESTIMONIALS FROM INITIAL USERS/CUSTOMERS
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100 Steps in review
66. CREATE SOCIAL WORD OF MOUTH FOR YOUR PRODUCT
67. CREATE youtube video promoting your product
68. ATTEND AN INDUSTRY TRADE SHOW
69. CONSIDER SELLING YOUR PRODUCT in BULK AT WHOLESALE
70. BRING ON A BOOKKEEPER TO AUTOMATE ACCOUNTING
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100 Steps in review
71. CREATE AN EMPLOYEE DIRECTORY
72. REVIEW YOUR P&L & balance sheet monthly
73. COMPARE INITIAL FORECAST WITH ACTUAL RESULTS
74. HIRE A SALESPERSON
75. CREATE A SALES COMPENSATION PLAN
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100 Steps in review
76. SET UP A COMPANY HEALTH CARE PROGRAM
77. ESTABLISH YOUR VACATION POLICY
78. TEST OFFLINE ADVERTISING CAREFULLY
79. CREATE A COMPANY INTERNAL INTRANET
80. CREATE a digital company handbook
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100 Steps in review
81. OPEN UP A CREDIT LINE WITH YOUR BANK 82. CREATE AN OFFSITE WORK POLICY 83. ONCE YOU CAN SHOW $1 in means $4 in revenue,
raise capital 84. CREATE A LIST OF FIRMS TO RAISE INITIAL GROWTH
FUNDING 85. UPDATE YOUR PITCH DECK
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100 Steps in review
86. BUILD RELATIONSHIPS WITH INDUSTRY BLOGGERS
87. SEEK PRODUCT REVIEWS
88. HIRE AN EXECUTIVE ASSISTANT/OFFICE MANAGER
89. HOLD YOUR FIRST COMPANY RETREAT
90. TAKE CUSTOMER FEEDBACK AND IMPROVE YOUR
PRODUCT
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100 Steps in review
91. GET CONNECTED TO INVESTORS FROM PEOPLE YOU KNOW
92. HAVE INITIAL GET TO KNOW YOU MEETINGS FOR
FEEDBACK
93. UNDER PROMISE AND OVER DELIVER ON RESULTS FOR
NEXT 90 DAYS
94. DETERMINE HOW MUCH CAPITAL TO RAISE
95. RETURN TO FIRMS YOU LIKE FOR PARTNER PRESENTATION
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100 Steps in review
96. DO 20 partner presentations in 2 weeks
97. Get 2 term sheets
98. NEGOTIATE & SIGN TERM SHEETS
99. COMPLETE DILIGENCE
100. CLOSE ON CAPITAL
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Lessons from my 20s
Business lessons
PART II, Section 13
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Business lessons Learned
Don’t get stuck In analysis paralysis
Take action NOW!
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Business lessons Learned
It is UP TO YOU to GET OUT THERE, DO IT &
TAKE THE INITiATIVE
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Business lessons Learned
Don’t be Afraid to
FAIL!
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Business lessons Learned
RECOGNITION & PRAISE CAN BE BIGGER MOTIVATORS THAN
Salary & BONUSES!
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Business lessons Learned
ALWAYS COMMUNICATE FREQUENTLY & OPENLY TO CUSTOMERS & STAKEHOLDERS DURING NEGATIVE EVENTS
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Business lessons Learned
ONCE YOU HAVE 80% OF THE NEEDED INFORMATION MAKE THE CALL You’ll be better off
By ACTING QUICKLY LEARNING & Iterating
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Business lessons Learned
WHEN THINGS ARE GOING WELL financially IT IS TIME TO PREPARE FOR Difficult times
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Business Lessons Learned
BUILDING A BUSINESS is like MOVING SOMETHING heavy IT TAKES TIME to GET INERTIA GOING. BUT ONCE YOU DO, THINGS CAN MOVE QUICKLY
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Business Lessons Learned
HAVE ALL TEAM MEMBERS SHARE THEIR PERSONAL stories
WITH THE TEAM
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Business Lessons Learned
WHEN YOU GET TO 30 EMPLOYEES HIRE A COO
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Business Lessons Learned
YOU MAY NOT BE ABLE TO DO EVERYTHING AT ONCE TAKE A LONG-RUN APPROACH & PLAY LIFE LIKE A LONG-TERM GAME
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Business Lessons Learned
IF YOU PRESENTLY DON’T HAVE THE FINANCIAl RESOURCES, THE EXPERIENCE OR A GOOD BUSINESS IDEA, INTERN OR GET A JOB AT A COMPANY YOU ARE PASSIONATE ABOUT AND START BUILDING YOUR NETWORK & experience
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Business Lessons Learned
ALWAYS FOCUS ON BUILDING QUALITY & GIVING RELATIONSHIPS WITH
GOOD PEOPLE
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Business Lessons Learned
REGARDLESS OF WHAT You’RE DOING MAKE SURE You’RE CONSTANTLY
LEARNING
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Business Lessons Learned
TAKE A PROACTIVE ROLE IN PLANNING, GOAL SETTING, &
PERSONAL EVALUATION
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Business Lessons Learned
Don’t be afraid to ask for help People are often very willing to HELP YOU IF YOU ASK
GENUINELY
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Business Lessons Learned
GET Experience however you can Build your network Have confidence And BE IN IT TO
Help Others
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Business Lessons Learned
IF AND WHEN YOU SUCCEED GIVE BACK
There are many brothers & sisters
Who have not been as fortunate
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Lessons from my 20s
THE WORLD Part III:
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ABOUT THIS PRESENTATION
THIS presentation can be found Online at
www.hive.org/20s
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HUMAN RIGHTS Human progress SYSTEMs thinking WORLD 2050
PART 3 “THE WORLD” INCLUDES SECTIONS ON
PART 3 TOPICS
MILLENNIALS CLIMATE CHANGE The innovation age
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Lessons from my 20s
HUMAN RIGHTS
PART III, Section 1
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A THOUGHT EXERCISE
Let’s begin this section on Human rights with a
Famous thought exercise
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A THOUGHT EXERCISE
IMAGINE YOU WERE a soul Hanging out around a campfire IN A CAVE with
five other souls
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A THOUGHT EXERCISE
NOW IMAGINE that god gave you and the five other souls The task of determing the
Principles for the world
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A THOUGHT EXERCISE
God said that the principles for the world should be fair and That you all must agree on them
Before you could be born
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A THOUGHT EXERCISE
Or how much money Your parents will have
None of the six of you know yet where you’ll be born The color of your skin Your sexual orientation Your gender
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A THOUGHT EXERCISE
And your task is to come up with the principles for the world That you can all agree on Before you can be born into your bodies
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A THOUGHT EXERCISE
What principles would you come up with for the world?
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A THOUGHT EXERCISE
What principles would you come up with for the world if you didn’t know
where you’ll be born The color of your skin Your gender Your sexual orientation how much money Your parents will have
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A THOUGHT EXERCISE
Take a moment to write down at least 2 principles for the world That would create a fair society
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A THOUGHT EXERCISE
John Rawls
This famous thought exercise Is called “The original position” And was created by 20th century Harvard professor & philosopher
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A THOUGHT EXERCISE
A theory of justice
John rawls writes about The original position In his 1971 classic
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“The most reasonable principles of
justice are those everyone would
accept and agree to from a fair
position.” - John Rawls, 20th Century Philosopher!
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A THOUGHT EXERCISE
Here are the two principles
We have come up with at Hive
That would create a just world
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The First principle
All people would have the same basic
Rights regardless of birthplace, gender,
Sexual orientation, or skin color
1
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The second principle
All people would have access
To the basic human needs of food, water
Shelter, medicine, education, and
electricity
2
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What would be the implication of these principles?
IN THIS WORLD WOULD YOU prevent some PEOPLE FROM TRAVELING to other places While others could
Travel Freely SIMPLY BASED ON WHERE THEY WERE BORN?!
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What would be the implication of these principles?
IN THIS WORLD WOULD YOU ENSURE EVERYONE HAD ACCESS TO FOOD, WATER & SHELTER OR JUST
SOME PEOPLE?
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What would be the implication of these principles?
IN THIS WORLD WOULD YOU ENSURE EVERYONE HAD ACCESS TO basic education and medicine or just
SOME PEOPLE?
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What would be the implication of these principles?
IN THIS WORLD WOULD YOU ENSURE THAT ALL INFANTS HAD LIFE SAVING IMMUNIZATIONS OR JUST RESERVE THOSE
FOR SOME INFANTS?
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What would be the implication of these principles?
IN THIS WORLD WOULD YOU CONDEMN SOME BABIES TO DEATH BECAUSe CANCER TREATMENTS
WEREN’t available?
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What would be the implication of these principles?
WHAT TYPE OF WORLD WOULD YOU CREATE IF YOU DIDN’t know where you
WOULD BE BORN?
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THIS IS THE WORLD WE CAN ACTUALLY
CREATE IN OUR LIFETIME!
The world we can create
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A WORLD IN WHICH FREE SPIRIT AND ENTERPRISE
IS ENCOURAGED
The world we can create
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The world we can create
A WORLD IN WHICH Everyone has access to Their basic needs
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The world we can create
A WORLD that is run On clean energy
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The world we can create
A WORLD IN WHICH PROPERTY RIGHTS
ARE RESPECTED
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The world we can create
A WORLD IN WHICH GOVERNMENTs are RUN
EFFICIENTLY AND TRANSPARENTLY
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The world we can create
A WORLD IN WHICH EVERY CHILD IS GIVEN THE ABILITY
TO LEARN TO CREATE TO INNOVATE TO CONTRIBUTE
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The world we can create
A WORLD IN WHICH EVERY CHILD IS ASSURED ACCESS TO THEIR BASIC NEEDS
FOOD WATER SHELTER
EDUCATION MEDICINE
ELECTRICITY
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Basic human need % Without # Without Source
1. Clean Water 10.8% 780M UNICEF
2. Sufficient Food 12.8% 925M UNFAO
3. Basic Shelter 13.8% 1.0B UNHCR
4. Literacy 12.7% 920M UNESCO
5. Basic Medicine 23.6% 1.7B WHO
6. Electricity 18.0% 1.3B IEA
% of people without basic human needs
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The world we can create
IMAGINE THE JOB CREATION AND THE HUMAN INNOVATION
To 9 BILLION PEOPLE WHOSE BASIC NEEDS ARE MET
As we GO FROM 3B
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Ending Poverty in Singapore in 50 years
SINGAPORE IS AN INTERESTING CASE… In 1960 its per capita income was $428
How did Singapore END POVERTY in one LIFETIME?
By 2011 per capita income grew to $50,123
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Ending Poverty in Singapore in 50 years
Low tolerance of corruption High pay of public officials to attract best talent and discourage bribery An efficiently run government with competent leadership Government budget surpluses Focus on ease of starting a business Focus on a scientific knowledge-based economy Focus on export-led growth Low taxes A clean environment
While many have criticised a lack of political FREEDOM HERE ARE SOME THINGS leadership GOT RIGHT in singapore
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A GOOD QUESTION FROM Bucky
“How do we make the world work for
100% of humanity in the shortest
possible time through spontaneous
cooperation without ecological
damage or disadvantage to anyone?”
- Buckminster fuller !
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Human Rights?
WHAT IF THERE WERE A DOCUMENT ESTABLISHING THE RIGHTS OF HUMANS THAT THE USA AND 48 other COUNTRIES Had already ADOPTED?
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A universal declaration of human rights?
There actually is It’s called the Universal declaration of human rights And it was adopted in 1948
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A universal declaration of human rights?
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A universal declaration of human rights?
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A universal declaration of human rights?
What if we actually created A human society Based upon these principles?
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We will be the first generation To be connected globally
The world we can create
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The world we can create
And we will have the opportunity To reshape THE WORLD Into a joyous, sustainable, and abundant WORLD
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Let’s work together on this
The world we can create
In the decades to come
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Human rights exercise
You can do the following 5 minute
Human rights exercise now
Or put a time on your calendar To return to it
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Human rights EXERCISE
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Exercise: human rights
Write down two principles you would Create for the world if you were a Pre-birth soul and didn’t know where you’d be born, your skin color, your gender, or your Parent’s income
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Exercise: human rights
Now, write down:
Are you committed to working toward
Creating a world based on those principles?
Why or why not?
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Lessons from my 20s
HUMAN progress
PART III, Section 2
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A few important questions
SOMETIMES WITH ALL THE NEGATIVE HEADLINES IT’s HARD TO zoom out and And look at THE ANSWER TO A very IMPORTANT QUESTION
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How are we doing?
HOW IS OUR SPECIES DOING?
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How are we doing?
Is humanity DOING better or worse than 40 years ago?
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Progress
Is humanity making Progress?
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Measuring Progress
And can“progress” Be measured?
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SOME EXISTING MEASURES OF HUMAN PROGRESS
1. United Nations Human Development Index
2. Legatum Prosperity Index
3. Social Progress Index (SPI)
4. Gross National Happiness (GNH)
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SOME EXISTING MEASURES OF HUMAN PROGRESS
The challenge with these four measures
Is that they provide data at a country level
Not at a human level
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Measuring human progress
WE NEED A MORE COMPRENSIVE
Measure OF HUMAN PROGRESS
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How humans are doing
WHAT IF WE COULD AGREE On METRICS THAT TOLD US HOW OUR SPECIES IS DOING?
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How humans are doing
We’d probably look for data in AREAS LIKE
Health education PEACE Economics environment
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How humans are doing
Here are the exact measures we use at hive To track human progress at a species level
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How humans are doing
Health
1. Life Expectancy
2. Infant Mortality
3. Literacy
4. Internet Access
7. Average Income
8. Global Poverty Rate
9. CO2 PPM
10. Temperature Increase
Education !
Economics !Environment!
5. Active Conflicts
6. Deaths From War Peace!
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How humans are doing
Let’s look at how we’re doing As a species across THESE
10 metrics
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Health The global report card
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1. Life Expectancy
12% Higher
2012
71 1980
63
Source: World Bank
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2. Infant Mortality
2012
4.8% 1980
11.6%
59% Decline
Source: World Bank
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EDUCATION The global report card
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0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1980 1990 1995 2000 2012
2012
84% 1980
70% 20% Higher
3. Literacy Rate
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2012
36% 1980
0%
Infinitely Higher
4. Internet Access
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PEACE The global report card
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0
2
4
6
8
10
12
14
16
18
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
2008-2013 Avg.
6 1980-1985 Avg.
13
54% Lower
5. Active Major Conflicts
Source: Uppsala Conflict Data Program
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0
10000
20000
30000
40000
50000
60000
70000
80000
90000
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
2008-2013 Avg.
33,159 1980-1985 Avg.
40,370
18% Lower
6. Deaths from War
Even as global population has expanded 45%
Syria conflict has caused recent spike
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ECONOMICS The global report card
![Page 1091: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/1091.jpg)
2012
$10395 1980
$5960
74% Higher
7. Annual Income Per Person
![Page 1092: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/1092.jpg)
0
1
2
3
4
5
6
7
8
Bill
ion
s o
f Peo
ple
on
Pla
net
0 100 200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500 1600 1700 1800 1900 2000
$10395
$6055
$2111
$467 $450 $453
$1261
$666
The!Industrial!Age!
The!Enlightenment!
The!Informa.on!Age!
$605 $566
The!Renaissance!
Population & Income Over 2000 Years
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The time to get to now
IT took humans 13.78 Billion yearS TO EVOLVE
![Page 1094: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/1094.jpg)
Time to 1B People
IT took humans 200,000 years to reach1B people
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POPULATION AND INCOME GROWTH
BUT just 200 years to go from 1b to 7B
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POPULATION AND INCOME GROWTH
NEVER BEFORE HAVE WE HAD SO MANY PEOPLE
![Page 1097: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/1097.jpg)
POPULATION AND INCOME GROWTH
NEVER BEFORE has our species had SO much wealth
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0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0% 1
98
0
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
2012
16.9% 1980
43.6%
61% Lower
8. % Living in Extreme Poverty
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LOOKING GOOD SO FAR…
So things are Looking up, right?
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LOOKING GOOD SO FAR…
Mostly, except for The environment
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LOOKING GOOD SO FAR…
Which sort of Underpins
Everything else
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ENVIRONMENT The global report card
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250
270
290
310
330
350
370
390
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
2012
395 1980
334 19% Higher
9. CO2 in Atmosphere (Parts Per Million)
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0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
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19
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19
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19
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19
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19
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19
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19
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19
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20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
2012
1.37° 1980
0.61°
125% Higher
10. Surface Temperature Increase (F°)
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Health
The Global Report Card
Education !
Peace!
Environment!
1980 2013 % Change Grade
1. Life Expectancy 63 71 % 12% A
2. Infant Mortality 11.6% 4.8% 59% A
3. Literacy 70% 84% % 20% B
4. Internet Access 0% 36% % Infinite B
5. Active Conflicts 13 6 54% B
6. Deaths from War 40,370 33,159 18% B
7. Average Income $5.9k $10.4k % 74% A
8. Poverty Rate 43.6% 16.9% 61% B
9. CO2 PPM 334 395 % 19% F
10. Temp. Increase +0.61° +1.37° % 125% F
Economics!%!
%!
%!
%!
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What would a 5 DeGree farenheight increase mean?
“As the Arctic continues to warm, melting
permafrost in the boreal forests and further north
in the Arctic tundra is now starting to melt,
triggering the release of methane, a greenhouse
gas twenty times more powerful than CO2, from
thick layers of thawing peat.” - Climate Code Red
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Lots of progress on the abundance side
1812 2014 HOW LONG WE LIVE
Avg. annual INCOME Inflation adjusted to current $
INFANT MORTALITY
POVERTY %
30
$700
25% 4%
17% 98%
$10800
70
Under $1.25 per day globally current $
Infant deaths before age 5 globally
Average life expectancy globally
![Page 1108: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/1108.jpg)
The key challenge for our generation
So they key challenge is how we can together create
An abundant and sustainable world For all people
![Page 1109: Lessons From My 20s on Life, Entrepreneurship, and The World - Ryan Allis](https://reader031.fdocuments.us/reader031/viewer/2022013118/554e3cacb4c905f4478b4d7e/html5/thumbnails/1109.jpg)
Lessons from my 20s
SYSTEMS THINKING
PART III, Section 3
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WHAT IS A SYSTEM?
THAT INTERACT
A SYSTEM is A COLLECTION OF PROCESSES
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SYSTEMS THINKING
SYSTEMS THINKERS INTEGRATE knowledge ACROSS DISCIPLINES
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SYSTEMS THINKING
SYSTEMS THINKERS UNDERSTAND COMPLEXITY & NUANCE
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SYSTEMS THINKING
SYSTEMS THINKERS BUILD MENTAL MAPS
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Three Types of SYStems
1. INTERNAL SYSTEMS 2. EXTERNAL SYSTEMS 3. ECOLOGICAL SYSTEMS
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INTERNAL SYSTEMS EXAMPLEs
RESPIRATION CELL REPLICATION DIGESTION IMMUNE SYSTEM HORMONAL REGULATION NEURAL PLASTICITY
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EXTERNAL SYSTEMS EXAMPLEs
GLOBAL TRADE ELECTRICAL GRIDS
COMPANY METRICS REPORTING ELECTIONS THE INTERNET
ACADEMIC ADMISSIONS
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EXTERNAL SYSTEMS EXAMPLEs
CONDENSATION GEOLOGICAL FORMATION
ELECTROMAGNETIC ENERGY NUCLEAR FUSION GAMMA WAVES EVOLUTION
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AN example of external systems theory
JAMES LOCKLOCK’s GAIA HYPOTHESIS EXPLORED THE EARTH as one
self-regulating Interconnected system Of biosphere, atmosphere, Oceans, and soil
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The great SYSTEMS THINKERS
Some of the most well known Systems thinkers in last century were
Donella meadows Albert einstein Thomas Edison Buckminster fuller JAMES LOVELOCK
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Lessons from my 20s
WORLD 2050
PART III, Section 4
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The World in 2050
Here are some predictions About What will happen
In the next 40 years From the pardee center For international futures
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World Population Will RISE
GLOBAL POPULATION WILL RISE to 9.2 Billion
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Energy DEMAND WILL INCREASE
GLOBAL ENERGY DEMAND WILL go up
2.3x
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CO2 output from fossil fuels
FOSSIL FUEL USAGE WILL PEAK THEN DECLINE
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Mobile phones per 100 people
The average person Will have >1 Cloud connected Mobile device
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Global Life Expectancy
WE LIVE LONGER AS LIFE EXPECTANCY REACHES
77
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Infant Mortality
FEWER BABIES DIE As INFANT MORTALITY Goes under 10 per 1000
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GDP Per Capita (In thousands)
WE BECOME WEALTHIER Global GDP PER CAPITA UP 140%
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POVERTY DECLINES RAPIDLY
Extreme POVERTY nearly eliminated % living on <$1.25 Per Day
Down 78%
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Secondary education completion
WE ARE BETTER EDUCATED SECONDARY SCHOOLING up 52%
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COLLEGE EDUCATED
% oF PEOPLE WITH COLLEGE DEGREES
UP159%
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WOMEN WITH COLLEGE EDUCATION
UP 189%
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MORE OF US WILL LIVE IN CITIES
PERCENTAGE IN CITIES UP 32%
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Major innovations are coming
NANOTECHNOLOGY 3D Printing GENOME SEQUENCING SYNTHETIC LIFE PRIVATE SPACE TRAVEL DESALINATION
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Governments will have to adapt
INCREASED GOVERNMENT TRANSPARENCY OPEN GOV DATA APIS
STRONGER PROPERTY RIGHTS EASIER TO START A BUSINESS BETTER co2 REGULATIONS REMAINING REGIMES OVERTHROWN
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MAJOR GEOPOLITICAL CHANGES
CHINA WORLD’S LARGEST GDP INDIA THE MOST POPULOUS NATION
AFRICA 2B People + ECONOMIC POWER FOSSIL FUEL PRODUCERS LESS INFLUENCE INSECURITY UNTIL WE LOWER EMISSIONS
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AFRICA BECOMES AN ECONOMIC POWER
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Lessons from my 20s
MILLENNIALS PART III, Section 5
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It’s our turn to lead
MILLENNIALS WILL BE LEADING THE NEXT 40 YEARS People born between 1980 and 2000
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SO what’s different about millennials?
SO What’s different ABOUT Millennials?
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SO what’s different about millennials?
WE ARE DEEPLY AWARE OF SOCIAL ISSUES
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SO what’s different about millennials?
WE UNDERSTAND THE IMPORTANCE OF A SUSTAINABLE WORLD
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SO what’s different about millennials?
WE SEE BUSINESS & ENTREPRENEURSHIP AS TOOLS TO MAKE A SCALABLE POSITIVE CHANGE IN THE WORLD
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SO what’s different about millennials?
Status quo & ARE IMPATIENT with the
WE ARE USED TO A FASTER PACE OF CHANGE
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SO what’s different about millennials?
NEVER BEFORE TECHNOLOGY LIKE
WE ARE CONNECTED GLOBALLY THROUGH
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SO what’s different about millennials?
ACCOUNTABLE CORRUPT LEADERS
WE NOW HAVE THE TOOLS TO HOLD
AND CREATE THE MOMENTUM TO OVERTHROW THEM
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OUR GREAT OPPORTUNITY
OUR GREATEST opportunity Is creating a sustainable world IN WHICH EVERY HUMAN HAS ACCESS TO FOOD, WATER, SHELTER EDUCATION, MEDICINE, ELECTRICITY
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OUR GREAT OPPORTUNITY
THE GOOD NEWS IS WE GIVE A DAMN HAVE THE TECH TOOLS CAN INNOVATE LIKE HELL AND ARE HIGHLY COMPETENT
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Lessons from my 20s
CLIMATE CHANGE PART III, Section 6
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Co2 traps heat
AN INCREASE IN Co2 IN AN ATMOSPHERE TRAPS HEAT & MAKES THE
TEMPERATURE GO UP
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Carbon emissions
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ANNUAL CO2 OUTPUT HAS INCREASED FROM 4GT To 40GT SINCE 1900
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CO2 in the atmoshphere
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CO2 Parts per million HAVE INCREASED FROM 293 to 401 SINCE 1900
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-0.40
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1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013
Surface Temperature change over 1937 baseline
EARTH’s AVERAGE SURFACE TEMPERATURE HAS RISEn 1.3°F SINCE 1967
Source: NOAA
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The link between co2 and temperature
In 1896, Swedish scientist
svante arrhenius FIRST Showed the link
between the amount Of co2 in the atmosphere
and temperature!
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97% of Scientists Agree that co2 ! Higher temps
As of 2010, 97% of American CLIMATE SCIENTISTS
BELIEVEd the INCREASE
In earth’s TEMPERATUREs IS CAUSED BY
INCREASED CO2 in the ATMOSPHERE
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21st century temperature increases
THE IPCC INDICATES GLOBAL Surface TEMPERATURES wILL INCREASE ANOTHER 3.4° to 7.9°F
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Sea Levels Rising
A 5°F increase in Surface TEMPERATURES WOULD INCREASE SEA LEVELS by ~11 FT
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Hundreds of millions of refugees
BANGLADESH UNDER WATER 35% of FL Under water 20% of NYC Under Water
An 11 foot sea level rise would mean:
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Moving to a clean energy economy
Move away from fossil fuels As quickly as we can
TO stop this we must
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Moving to a clean energy economy
And to clean energies like solar, wind, geothermal, and Biofuels As quickly as we can
We must move away from coal, oil, and natural gas
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What would a 5 degree (F) increase mean?
“In the pliocene, three million years ago temperatures were
5 degrees (F) higher than our pre-industrial levels, so it
gives us an insight into the five-degree world. The northern
hemisphere was free of glaciers and icesheets, beech trees
grew in the transantarctic mountains, sea levels were 25
metres higher”
- Climate Code red!
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What would a 5 degree (F) increase mean?
“Between 3 and 5 degrees (F) the Amazon rainforest,
whose plants produce 10 percent of the world's
photosynthesis and have no evolved resistance to
fire, may turn to savannah, as drought and mega-fires
first destroy the rainforest, turning trees back into
carbon dioxide as they burn or rot and decompose”
- Climate Code red!
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What would a 5 degree (F) increase mean?
“As the Arctic continue to warm, melting
permafrost in the boreal forests and further
north in the Arctic tundra is now starting to melt,
triggering the release of methane, a greenhouse
gas twenty times more powerful than CO2, from
thick layers of thawing peat.” - Climate Code red!
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What would a 5 degree (F) increase mean?
“There are thousands of gigatons of methane
beneath the seas, comparable to the amount
of carbon contained in the Earth’s coal
deposits. And, as the Arctic waters warm,
some of this methane is likely to bubble up into
the atmosphere.”
- Ezra klein!
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The current debate
THE CURRENT DEBATE DOES NOT RECOGNIZE THE GRAVITY OF THE SITUATION
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A huge economic threat
INCREASED TEMPERATURES ARE INEVITABLE
AND ARE ON TRACK TO THREATEn OUR
Economy + CIVILIZATION
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Passed to 400 PPM Barrier
WE ARE At 401 CARBON PPM AS OF 2014
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Past the 400 PPM Barrier
WHERE WE STABILIZE CARBON PPM WILL DRASTICALLY AFFECT
The type of world Our children live in
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We Passed the 400 PPM Barrier
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500 PPM
WE MUST DO ALL WE CAN AS A SOCIETY TO NEVER GO ABOVE 500 PPM
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350 PPM
AND to get back To 350 PPM Where we were in 1987
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The Historical perspective on CO2
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Steps we can take
THERE ARE STEPS WE CAN TAKE TO REDUCE C02 output
MORE QUICKLY
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Steps we can take
1) STOP FOSSIL FUEL SUBSIDIES
2) PRICE IN THE COST OF C02 pollution cleanup
3) INVEST IN energy & geoengineering R&D
4) SubSIDIZE RENEWABLE ENERGY USE
5) INCREASE ENERGY EFFICIENCY
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1. STOP subsidizing fossil fuel production
Every year the usa Provides $11.5b in Subsidies to the Oil industry This needs to stop Immediately
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2. Price in cost of co2 cleanup
FOSSIL FUELS ARE CHEAP BECAUSE THE COST OF CLEANING UP CO2 POLLUTION
IS NOT INCLUDED IN THE PRICE
Let’s FIX THIS and CORRECT THE INCENTIVES TO USE FOSSIL FUELS
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3. INVEST IN RENEWABLES & GEOENGINEERING RESEARCH
WIND, SOLAR, BIOFUELS, & FUSION HAVE GREAT PROMISE As does carbon SEQUESTRATION And other geoengineering techniques
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FUNDING GeoENGINEERING RESEARCH
GEOENGINEERING TECHNIQUES LIKE carbon sequestration
SOLAR RADIATION MANAGEMENT CLOUD SEEDING and VERTICAL OCEAN PIPING Are worthy of careful research
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US Govt spends 457x more on military than renewables
USA ANNUAL DEFENSE BUDGET
$640 BILLION USA ANNUAL RENEWABLES R&D
$1.4 Billion
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SOMETHING IS OFF HERE…
U.S. ANNUAL DEFENSE BUDGET $640 BILLION
USA ANNUAL RENEWABLES R&D $1.4 Billion
U.S. ANNUAL FOSSIL FUEL SUBSIDIES $11.5 Billion
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4. Subsidize renewables R&D
iN ORDER TO INCREASE MARKET INVESTMENT IN RENEWABLES IN THE NEXT FEW YEARS WHILE THE R&D iS CONDUCTED WE SHOULD SUBSIDIZE THE COST OF RENEWABLE ENERGY
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5. INCREASE ENERGY EFFICIENCY
EFFICIENT BUILDINGS
SMART 2-way grids
SMART APPLIANCES
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CLEAN ENERGY
INVESTING IN CLEAN ENERGY FROM RENEWABLE SOURCES IS OUR BEST BET TO REDUCE THE COMING ECONOMIC COST OF CLIMATE CHANGE
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GRID PARITY is coming
SOLAR POWER WILL BE LESS EXPENSIVe THAN GRID POWER BY 2020 This moment will be the THE TIPPING POINT
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GRID PARITY is coming
COST OF SOLAR COST OF GRID RETAIL COST PER KWH IN USA RETAIL COST PER KWH IN USA
$0.25 $0.04 >!2014
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GRID PARITY is coming
COST OF SOLAR COST OF GRID RETAIL COST PER KWH IN USA RETAIL COST PER KWH IN USA
$0.04 $0.04 =!2020
THIS IS A BIG DEAL
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The apollo mission of our generation
It’s a race to GRID PARITY THIS IS OUR
MOON LANDING
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THE PRESIDENT HAS YOUR BACK
“We're issuing a challenge. We're telling America's scientists and engineers that if
they assemble teams of the best minds in their fields, and focus on the hardest
problems in clean energy, we'll fund the Apollo projects of our time. At the
California Institute of Technology, they're developing a way to turn sunlight and
water into fuel for our cars. At Oak Ridge National Laboratory, they're using
supercomputers to get a lot more power out of our nuclear facilities. With more
research and incentives, we can break our dependence on oil”
– President Obama, State of the union address, January 26, 2011
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FUNDING RESEARCH
The JOINT CENTER FOR ARTIFICIAL PHOTOSYNTHESIS IS THE DOE’S
SOLAR RESEARCH HUB
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ENERGY USAGE
Humans ARE using 15 Terawatts of power ANNUALLY
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ENERGY USAGE
Humans are EXPECTED TO need 40 Terawatts of power
PER YEAR by 2050
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2012 SOURCES OF GLOBAL ENERGY PRODUCTION
86.3%
6.5% 6.5%
0.7%
Fossil Fuels
Nuclear
Hydro
Solar/Wind/Bio
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The potential oF THE SUN
THE SUN PROVIDES ENOUGH ENERGY IN A MINUTE TO POWER THE EARTH FOR A YEAR
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What if?
WHAT IF THERE WERE MICROORGANISMS WHOSE FOOD SOURCE WAS CARBON DIOXIDE
AND THEIR OUTPUT WAS FUEL?
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The potential of algae
ALGAE HAVE THE POTENTIAL TO BE THE WORLD’s FUTURE RENEWABLE FUEL SOURCE
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The potential of algae
BIOFUELS PRODUCED FROM SYNTHETIC ALGAE SHOW GREAT PROMISE FOR RENEWABLE FUEL PRODUCTION
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The potential of algae
ALGAE CONSUME CARBON DIOXIDE PRODUCE FUEL And REQUIRE 1/7th the LAND OF CORN-BASED ETHANOL
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iN SUMMARY
CLEAN ENERGY IS OUR Generation’s Apollo MISSION
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Lessons from my 20s
The Innovation Age
PART III, Section 7
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About this section
This final section called “the innovation age” Is about The trends I am seeing in history and humanity And where that may lead us in
The Decades ahead
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A Timeline of history
TO PUT everything In perspective Here is a timeline of
Earth’s history
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A big picture timeline of earth
Formation of Universe
(13.8B Yrs Ago) Formation of Earth
(4.5 B Yrs Ago)
Land Animals (400M Yrs Ago)
Formation of The Sun (4.6B Yrs Ago)
Oceans Form (3.8B Yrs Ago)
Dinosaurs (250M Yrs Ago)
Pangea Shifts (200M Yrs Ago)
Plants Form (500M Yrs Ago)
Dinosaurs Extinct
(65M Yrs Ago)
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A human Timeline
TO further PUT THINGs In perspective Here is a timeline of
human history
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HUMAN HISTORY TIMELINE
Homo Sapiens (200,000 Yrs Ago)
Language (100,000 Yrs Ago)
Homo Habilis (2.3 M Yrs Ago)
Homo Erectus (1.8M Yrs Ago)
Chimps diverge (5.4M Yrs Ago)
Homo Erectus (2.3 M Yrs Ago)
Fire (400,000 Yrs Ago)
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The human story
And at a very simplified Level, here’s the story Of the last 13.8B years
(as far as we know so far)
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The Great story of humanity
Once upon a time All matter was in
a single point
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The Great story of humanity
Then a massive Explosion we call The big bang occurred
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The Great story of humanity
initially there was no life in the
universe
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The Great story of humanity
The universe was A VAST expanse
Of matter and energy
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The Great story of humanity
THEN ALONG CAME CARBON ATOMS
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The Great story of humanity
WHICH COULD ENCODE INFORMATION
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The Great story of humanity
AND MOLECULES EVOLVED
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The Great story of humanity
A BILLION YEARS LATER DNA EVOLVED
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The Great story of humanity
AND from CHEMISTRY came
LIFE
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The Great story of humanity
ORGANISMS EVOLVED DECISION networks called
NERVOUS SYSTEMS
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The Great story of humanity
NEURONS Aggregated INTO BRAINS
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The Great story of humanity
Brains formed frontal
cortexes
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The Great story of humanity
And emotions and reason formed
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The Great story of humanity
WE WENT FROM ATOMS to MOLECULES TO DNA TO BRAINS to
awareness!
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The Great story of humanity
Now that’s awesome!
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The Great story of humanity
BRAINS PLUS OPPOSABLE THUMBS created TOOLS
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The Great story of humanity
THEN WE CREATED LANGUAGE
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The Great story of humanity
THEN WE started farming
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The Great story of humanity
THEN WE FORMED CITIES
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The Great story of humanity
THEN WE CREATED WRITING
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The Great story of humanity
THEN WE CREATED MATHEMATICS
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The Great story of humanity
THEN WE CREATED the Scientific method
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The Great story of humanity
THEN WE DISCOVERED A WAY OF ORGANIZING OUR EFFORTS
(We called it a company – which in Latin means to “break bread with”)
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The Great story of humanity
THEN WE CREATED
we called it “capitalism” it created incentives for creating what humans want we had to improve it a few times before it worked for everyone And We still have some reforms to go
a system for funneling money to people working together effectively to create value for humans
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The Great story of humanity
THEN WE CREATED
We CALLED IT THE “FINANCIAL SYSTEM” And it took a while before we made sure the right rules were in place so it worked for everyone
A SYSTEM FOR sharing risk so that we could allocate money to projects that create what humans want
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The Great story of humanity
THEN WE DISCOVERED ELECTRCITIY
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The Great story of humanity
THEN WE DISCOVERED
Stored ENERGY WATER ! STEAM ! Oil/Gas/Coal ! nuclear ! SOLAR / WIND / BIOFUEL / FUSION
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The Great story of humanity
THEN WE invented engines
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The Great story of humanity
That’s when things really TOOK OFF
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The Great story of humanity
With energy & engines So much
became possible
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The Great story of humanity
THAT BROUGHT US THE INDUSTRIAL
REVOLUTION
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The Great story of humanity
using machinery one human could be more efficient than ever before
LEADING TO MUCH HIGHER LIVING STANDARDS
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The Great story of humanity
THEN WE CREATED FLYING
MACHINES
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The Great story of humanity
THEN WE sent encoded messages Through the air
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The Great story of humanity
THEN WE built computers
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The Great story of humanity
THEN WE built
computers A global network of
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The Great story of humanity
THEN WE built
supercomputers Pocket-sized
And we called them “smartphones”
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Now, We Are Entering the innovation Age
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The Industrial Age
The industrial age began with The invention of the engine And ended with the invention of the
computer
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The Information Age
The INFORMATION age began In 1950 With The invention of the computer And will end when 50% of humanity
is connected
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The Information Age
In mid-2014 40% of humanity has access To the cloud. By the end of 2015 this figure is on track to reach a tipping point
Of 50%
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The impact of a connected world
The impact of more than half of Humanity finally being connected Will further accelerate change
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A new age is upon us
i believe the world is going to look So different in the decades ahead That we should consider ourselves
Entering a new age
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The innovaiton age
I suggest we call this new age
The innovation age
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The INNOVATION AGE
Instead of the lucky few having Access to free cloud education Soon all humans will be able to access EdX, wikipedia, khanacademy Itunesu, udemy, and coursera
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The INNOVATION AGE
As we enter the innovation age in 2015 We stand on the shoulders of Giants who have come
Before us
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The INNOVATION AGE
Synthetic biology is here Clean energy is here Global connection is here The platforms have been built
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The INNOVATION AGE
We are entering the most exciting Time in human history FOR Creators and
Innovators
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The INNOVATION AGE
The greater the cultural interconnection The faster memes can replicate, Learnings can be shared, and progress can
Be made
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The INNOVATION AGE
The rate of human progress Is a function of the rate of ideas
spreading
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The INNOVATION AGE
And The rate of ideas spreading is a function of the speed of communication tools And the level of species interconnection
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Human cultural evolution
We’re culturally evolving as a species Faster than ever before due to rapid Communication tools that are spreading Understanding and connection across borders faster than any time in
Human History
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Human cultural evolution
The speed of communication tools The level of species-wide literacy And the level of species interconnection Are all rapidly increasing Leading to the rapid evolution of
Human culture
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Human cultural evolution
There is a palpable sense that the leaders Of the millennial generation See beyond the divisions of national borders And religious identities that have kept Human beings apart for
Millennia
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Digital Natives
The four billion digital natives born Between 1980 and 2015 intuitively Understand global connection, Species-level identity, and innovation And will be leading the next
40 years
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What millennials see
Millennials see entrepreneurship As a tool for
good
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What millennials see
And we see efficient, effective Transparent, and tech-enabled Government as
Essential
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Socially RESPONSIBLE CAPITALISM
In the 200 year debate of Socialism vs. capitalism it is socially responsible capitalism that will win built on a foundation of efficiently-run Cloud enabled Government
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The GREAT OPPORTUNITY
Our next great opportunity is creating A carbon-neutral world in which Every human being has access to what They need to
Create & ThRive
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The industrial age 1712-1950
The information age 1950-2015
The innovation age 2015-2050
Entering the innovation age
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Entering the innovation age
WE’re entering THE innovation AGE!
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Entering the innovation age
the age of ubiquitous global connection to people and information
For everyone not just the wealthy
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Entering the innovation age
Soon everyone will have a cloud-connected supercomputer in their
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Entering the innovation age
Education will be democratized
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Entering the innovation age
Atrocities will be
publicized (Better publicized, at least)
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Entering the innovation age
Bad leaders will be
exposed
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Entering the innovation age
Dense Networks of world changers will be
constructed
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Entering the innovation age
Imagine the world we can create
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Entering the innovation age
Imagine the world we WILL create
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Entering the innovation age
It’s time to show our parents what we can do
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Lessons from my 20s
Staying in touch
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Let’s work together
Let’s find a way to WORK TOGETHER AS A GENERATION TO CREATE A WORLD THAT IS SUSTAINABLE IN WHICH ALL PEOPLE HAVE ACCESS TO BASIC HUMAN NEEDS AND EVERYONE Can
ACHIEVE THEIR DREAMS
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Exercises
Now that you’re at the end Don’t forget to put time on your calendar To go back and
Do the exercises
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Join the Hive network
Hive is building a global network Of leaders & entrepreneurs under 40 Dedicated to creating a better world I’d love for you to apply to join us
www.Hive.org
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Program Influences
Here are programs I have participated in the last ten years that have shaped my
perspectives. Thank you to all of the individuals behind these great organizations.
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For Further Reading
The following resources were extremely valuable in the creation of this work:
Films: Connected by Tiffany Shlain Mankind by The History Channel The Commanding Heights by PBS The History of the World in Two Hours by The History Channel Books: Abundance by Peter Diamandis The Rational Optimist by Matt Ridley Anticipating 2025 by The London Futurist Society The 100 Scientific Discoveries That Changed the World by National Geographic The Power of Habit by Charles Duhigg Rich Dad Poor Dad by Robert Kiyosaki Think and Grow Rich by Napoleon Hill How to Win Friends & Influence People by Dale Carnegie
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If you enjoyed this presentation also check out
www.startupguide.com www.hive.org/book
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How to get in touch
@ryanallis
Send me a note or a Tweet. I’d love to hear from you!
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Dedication
Dedicated to Mom Pauline Ann Middleton Allis
March 29, 1952 – May 25, 2012
A mother who inspired others to
1) Love Everyone 2) Be Confident
3) Dream Big
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Lessons from my 20s
THE END