I recently enjoyed a swift lunch with an old friend, who was once my roommate during our school years. We had an in-depth conversation about life and career. To my mind, his thought process is far more mature than mine, and his decisions seem more future-oriented. Although our conversation was private, I believe certain insights should be shared with a broader audience.
1. The Role of Luck in Life.
His life experiences have significantly highlighted the impact of luck. While I'm not ready to accept this fully, similar sentiments have been echoed by other successful and wise individuals I've interacted with. I also recently watched an informative video that lucidly explains the 80/20 rule and the principle of luck. The video demonstrates through "agent-based modelling" how the wealthiest person isn't necessarily the most talented but is usually someone of average talent who encounters multiple lucky events in life.
I agreed that luck indeed plays a vital role and perhaps we should focus on factors that can increase our chances of encountering luck, such as being open-minded and optimistic.
My friend also shared some personal stories of unlikely events that had a significant impact on his life. His success stemmed from the courage to seize these opportunities.
In conclusion: "When opportunities arise, give it a try".
2. The Simplicity of Principles.
The truth is usually quite simple. There are two key concepts: "道" (principle) and "术" (techniques). It's crucial to focus more on the principles rather than the techniques.
When you grasp the essence of an issue or problem, you should delve deeper into the governing principles. The method of achievement is secondary.
I agree with this sentiment. It requires wisdom to comprehend the simple truth. I need to invest more time in understanding the essential principles rather than getting distracted by surface-level details.
The principles of business and management are often straightforward. To him, the two core principles are:
- Integrity: This is about consistency in your words and actions, which is fundamental in gaining trust.
- Lead by example: Stand beside your team when they are working hard on their tasks.
I agree with these principles. I've noticed significant improvements in my performance when I adhere to them.
I am a go-getter who seldom looks back. This approach is fine in most circumstances, but it's essential not to repeat the same mistakes.
I haven't fully grasped this lesson yet. I'm learning from people around me like this friend, my colleague, Zhao Peng, and my wife. They all exhibit similar traits: reliability, low-risk tolerance, and delivery. These qualities are precisely why I need such individuals in my team to foster company growth.
Avoid micromanaging, though. Just as you would let a child learn from their mistakes while ensuring they avoid fatal harm, the same principle applies to managing a team.
4. Keep the Passion Alive.
Predicting life and the world in the next 3-5 years is a challenge. However, looking back allows you to see how minor events have significantly influenced your present. A small spark can grow into a significant flame over time. Keep that passion alive and never let it fade.
5. Business development and sales.
When looking at successful companies today, especially the long-standing German firms, two strategies they employ to stand out:
1. Devote a significant amount of time to nurturing relationships with key partners to ensure a long-term partnership. Such a key partner could potentially generate 80% or even a higher percentage of revenues.
2. Cultivate win-win partnerships that are complementary and sustainable. Chasing one-time business deals might not be the best approach to building a sustainable business. A partnership mindset is more beneficial in the long run than a transactional one.
Regularly meeting new people may or may not necessarily contribute to success. It's not about meeting many people, but about meeting the right people and persuading them effectively.
To be honest, I may not be the kind of salesperson who can close a deal within a ten-minute pitch. However, I pride myself on my long-term trustworthiness. I don't abandon my commitments, and I always deliver. More importantly, I value and promote a win-win situation for my customers. I need to further consider a sales strategy that will contribute to the sustainability of the company.
* Some of the text contents have been refined by ChatGPT to enhance clarity.