506: How to Instill a Sense of Urgency in Your Business
The Startup Chat with Steli and Hiten
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Full episode transcript -

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everybody desist,

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Luft And

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this is heating shot and two down the side of we're gonna talk about how to notice your own bias. You like talking about more than your sales and market. We just wanna bullshit and chat about business and life And hopefully while we're doing them for my long value, Teoh for people trying to get shit done. Yeah, we don't want to give you feedback. That's bullshit. You want you to do your best how to ensure that you don't make bad decisions because of ah, rigid in trouble buys that might have So the reason why we wanted to talk about this at a pry episode we were just talking about how to negotiate with oneself and with a little bit about this idea that the one thing that I recently noticed off people wanting to believe something because of self interests and then trying to selectively find the information, the experts, the articles, the data that confirms their bias and continuously defending their mind against everything that would attack their thought process and collecting the things that confirm that thought process and how big of all waste to me that seems such oh, I mean, we always do this, but right now it's such a heightened environment that I just noticed this so much. I'm just, you know,

I'll give you one quick example. Then let's talk about this because noticing one's bias, I feel like is sort of a superpower in avoiding making avoidable mistakes. Absolutely so one thing that was really interesting at the kind of, I don't know, maybe six weeks ago or so 556 weeks ago when we were in the Western world in Europe and the US much earlier in the pandemic timeline. And it seems still very far away, like a a problem that was in Asia and in China. And maybe they're a few a couple of cases of Germany, a couple kids in the US but there were still a lot of debated who would ever become a problem in the Western world. I remember talking to a friend of mine in the US, and then I remember talking to a friend of mine in Germany, and what was interesting was how both of them, like my friend in the U. S, was like,

Well, I'm sure I'm in the US I wouldn't want to be in Germany right now because I was like, Oh, why is that? Well, if a pandemic would happen, I would much rather be the U. S. And in Europe, in Germany and I So why is that? It was a well, now the U. S. Health care system is really amazing. And it's not as population dense and brought up a number of reasons why it was like, you know what?

I feel pretty safe. This is probably around the world, not the worst place to be in a pandemic. And Germany would be much worse. And then I talked to my German friend and a couple of days later, and without prompting it, he was telling I'm glad that you were in Germany, Staley right now and not in the US, because you much safer here. If there's something that it was like, really how come? And he was like, Well, you know, the German health, consistent much with the U.

S. Health care system is a catastrophe. Then the politicians and I was like, and that was the moment where I was thinking Wow, like every were also full of shit in every other way I to convince themselves in this situation in this set up is probably going to be better than other people's. I'm like, Holy fuck, you should. This is so interesting

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now and have a good friend. And she's basically maybe every two or three days. She's like, Should I get out of the city? Children? San Francisco, You should get out of the city, check out the city of my friends in New York, have gotten out of you, and come on. Yeah, but that's newer, I'm like, And then and then she's like, Yeah, maybe maybe a small city. Of course.

You know, there's more stuff here. More hospital, etcetera like, yeah. Um, yeah, sure. Uh, yeah. Good. Okay. Like, I don't know what to say. Right? Like,

uh, there's no right answer to hurt her. Like thought right. There's no, like I wanted to tell her. Hey, don't call anywhere, Please. Just still go anyway. Don't do anything. You know, Just stay where you are. Everything will be OK. Just stay where you are. You know me. It's it's gonna be OK.

OK, and sense of like it will be the best and like, it's same thing. It's like there's a irrationality that comes up when we have uncertain. And when we have that irrationality and that uncertainty we're just trying to justify her eggs were trying to justify that. We know what to do. And in a situation like this, the number one thing I can tell you is nobody knows what. And what do you think you do? You're already bias because the level of clarity for a situation does not exist. There isn't somebody you can tell you today with been and have any kind of crystal ball of this. I can say this is what's gonna happen next. And you could even think that. Oh, you know this person? They predicted what was gonna happen or this and that Brits,

like every every prediction, can be right. At some point, it's just a matter like like like what I mean by that is like it's like even people who, like seemingly, are right. They didn't know anything. They're just guessing, too. So I think I think it's like you're making it up as you go. And in the level of comfort we have as humans on making things up as we go is very low. And so you know, this told thing about Germany Year America, Whatever. Like, uh,

you know, wherever you are, there are people that are okay. That really and there are people that are not having some places. There's more people they're not. Okay. Then they are like, you know, if you asking right now, kind of worried about Florida to be opening, you know, like your pictures. I see the things I see that being said, I don't know if it matters, right? Like I don't I don't know if,

like that's rational or not. All I know is that there's people out and about, and they might be spreading this thing to each other. That is our factual. Yeah. Do I need to have a fear for my friends in Florida already? Probably. Probably not. Because what was gonna happen is literally gonna happen. So a lot of this has to do it. Just the acceptance that we controlled. Nothing. I think this pandemic kind of helps us see that. Yeah.

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Sorry, sir. About the drug, I think. Yeah, I think there's an insane level of discomfort with the thought I don't know, and I'm still figuring it out what? I'm trying to figure it out. War Just like people don't like to be in the I don't know what's gonna happen. I'm not sure which side to take yet. Yeah, the frame of mine. And then they come up with these narratives. The other thing that's been so interesting it's so interesting to see for me is that there are all these people that I know that kind off in hindsight, are changing the events in their life to fit a narrative that they've been hyper prepared or they saw this coming. It's really yeah. So I had,

like, I had a friend that, you know, in the beginning of the in January, he took a big loan. Here's like, unequal Merce business that's doing quite a quite well. And then he took out a big loan to have extra cash. But back then I remember him telling me that you know, he his margins are not high enough, and he might want to invest more in having just more stuff in stock. And so he felt he needed some cash cushion. And then now his story is that he knew hard times are coming. He didn't know about the pin. Emily knew an economic downturn might becoming a hard time started coming. And he's done everything right.

Look at him. He has already some cash in the bank and is prepared for the doctor. I'm like, That's so interesting. Like, four months ago. You tell me something else. But now he made these little edits in his own mind, to fit a different narrative to fit the narrative. Right. I was ahead of the curve and I was prepared, right? I've told the brothers both of them I love, but they're idiots at times, and my oldest brother is, you know,

is some weird into some weird conspiracies at times. And I remember, I don't know, two years ago where the discussion he was saying, You know, the population of the world that can grow forever, and eventually something needs to happen to do population control. And now he's like some degree convinced that this might be a government thing to do population control, that all the old people die and they I'm like, like, this is to me, like thinking about everything that I've ever thought it to me. It's such an obviously childish way of thinking about the world, like, How can I make myself feel like I'm smart? Or I was prepared why I saw this coming,

as if that is helpful to me, that's not helpful. Little. It's like if I was walking around, I don't know what would out and saying, You know, I started a remote company because I saw this coming like what the fuck started? Yes, that always started it. Or even, just like I knew that we have to be location independent. And so I'm so happy that five years ago already that this first of all, giving me thinking of a version of myself saying this. I'm like, I want to punch myself in the face. I'm like,

Shut the fuck up you have sold But it's a not treadle and be so helpful. Like, Who is this? Who would I help with? If I if I called my brother and me like you have local stores? I run a remote company. I was so smart, like, how is this helping anybody? This is just like to me, it's just dumb bragging or trying to convince myself that I'm smarter than I really am, right that have done something smart. I was prepared or was ahead of other people. But in reality, I

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think I think it's all Yeah, I think it's just a defense mechanism, right? It's a defense mechanism when we have no control. Yeah, all we're doing is defending ourselves against being wrong, defending ourselves, No, against something. We don't control something. We have no complete lack of control over a pandemic like this. We don't have any control over it. There's only, like, maybe a few things we can do, depending on who we are and what our capabilities are, that might help.

But at the end of the day, the world is in a people. There's a tremendous amount of uncertainty. And this is the time when people wanna feel even in some resemblance of control, and there is not You're not gonna get it. Good luck trying to find

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it right now could cause not going to find it right now. I love that. All right, we'll wrap up this episode on this point as always, if you have. You know what? Maybe maybe this is a weird call to action, but if your family has been a specially point of frustration or weird lessons learned over the past couple of weeks, and it surely has been mine. Send me an email and eaten H in charge people Telkom Stelea clothes that come tell us how you've learned new things about your family during this pandemic. Well, they show you patterns that you now are determined to surpass, improve or change. I find that with most people that I talked to the number one source for worry and also the number one source of like. And I'm just interesting things that are going on that they notice it's much more that families, at this point that it is yet the global markets of politics or an industry. Or customers,

like lots of people are telling me stories about their family members and what's going on right now. Super, super interesting. All right, this is it from us for this episode. Stay safe and we'll hear

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