Good Judgment

I recently put together a week long, off-campus, Finance & Investing “Experience” for twenty of my high school students (I cheekily called it “Billionaire Bootcamp”). These were all students who wanted to learn more about finance, investing, real estate and entrepreneurship.

I’m extremely lucky to have graduated from the University of Chicago with a very close group of friends, all highly accomplished in various industries, including finance. I called on this friend group to come and speak to my students and they offered incredible, world-class advice.

One of them–Joe–in preparation to talk to my students, asked a billionaire that he works with, what single piece of advice he would give to those looking to make it big. Perhaps even to become a billionaire.

The billionaire’s answer?…

Good judgment.

If you have good judgment and make good decisions, then you’ve got a chance at a billion. More importantly, you will have a high quality and happy life.

Without good judgment?….You don’t stand a chance.

Affirm The Struggle

Positive affirmations are great. And research shows that they can help you get through times when you’re struggling.

But their power lies in the fact that you’re first actually trying to do something hard to then affirm.

Your Inner Whisper

Your inner voice is whispering. Telling you what you should do.

Can you get quiet enough to hear it?

And once you hear it, can you be courageous enough to follow it?

Name Brand

A follow up to yesterday’s post “What’s In A Name”

Pick a name for your project (or company or whatever it is you’re trying to do) that feels right to you in the moment. Don’t worry if it’s perfect. Just decide on something and get moving.

If you’re intentional and consistently produce excellent work over a long enough period of time, then the name will eventually be perfect.

Because everyone will associate your name (or brand) with excellence. And that’s a perfect place to be.

What’s In A Name

Not starting your company or band or project or script or whatever idea you have until you have the perfect name for it is just an excuse to stall.

You’ll never have the perfect name.

Just pick something pretty good. Or at the very least one that doesn’t suck.

And get to work.

True story behind why we named ourselves “Vs. Theatre Company” (or at least a major reason)…It was the title of our favorite Pearl Jam album. (H/t to my good buddy Ron Klier for that one.)

Grit Is A Finite Resource

Grit is a wonderful thing

But it’s also a finite resource.

Therefore, you must have goals that (a) truly energize you, (b) you actually think you can accomplish someday and (c) you can’t have too many at one time.

Choose your goals wisely my friend.

The Compound Effect Of Going First

Speaking of going first, the transcript of this talk given by Peter Kaufman is a must read.

Tons of absolute gems in here. Enjoy it this weekend over a cup of coffee.

And when you’re done, go first at something. And then go first again. And again. And again….

You won’t regret it.

P.S. – H/t to Shane Parrish for providing.

A Third Option

There’s a fantastic scene in the film Jay Kelly in which the character of Jay, a movie star (played by George Clooney), meets up with an old friend from acting class, Timothy (played by Billy Crudup). After reminiscing about old times including Jay telling Timothy that he was far and away the best actor in the class (“I could watch you do anything.”) the two have a confrontation in the parking lot. Timothy tells Jay “I can’t stand you. You kind of stole my life.” He wanted to be an actor, but Jay swooped in on an audition, got the part and the rest is history. Timothy gave up acting entirely, got married and is now a child therapist.

The scene got me thinking…why does being an artist (in this case, an actor) have to be a binary option? Either you “make it” in the business. Or you don’t, and have to quit.

Well, it’s not binary.

There’s a third option.

Which is…Have a job/career that pays the bills, doesn’t kill your soul, and in all your free time, make art.

That could be taking classes, doing play readings (Vs. does one every week), making short films or producing a play. Not to mention reading and seeing plays, and watching films.

Yes, the third option requires discipline and focus and sacrifice and commitment. And yes, you may never get paid a single dime for your art.

But no matter what, you can hang your head high knowing that you never gave up on your dream, your love, your art.

And that’s a helluva good option and life.

Go make your art.

Never stop making your art.

Going First

You will never, ever regret going first.

Even if your work wasn’t quite good enough to ship or you weren’t fully ready for the moment or you didn’t have all the necessary data to make the best possible decision, you still won’t regret going first.

Best case scenario?…Success. A positive outcome.

Worst case scenario?…Failure. A negative outcome…Kinda….Because you will gain an incredible and invaluable learning experience.

Waiting and watching while someone else goes first?…You get nothing. Nada. Zero. Zilch.

Just go first.

Not Quite Good Enough

Notwithstanding that making a living in the arts is really f-ing hard and often not a meritocracy and that you need a lot of luck, etc…what if the reason you’re not where you want to be is because your work just isn’t quite good enough…

…Yet.

Don’t be disheartened by that.

Be inspired and empowered.

Because it means it’s within your control.

You could get there.

Keep at it. Keep working. Keep training. Keep growing.

And regardless if your efforts ever lead to monetary success, isn’t it awesome to know that there’s always another level you can get to? I mean, that’s the whole reason to do it anyway, right? For the pursuit of excellence…Otherwise, why are you doing it?