Quote of the Day - QOTD

[Kevin88660]

Wang Xing, founder of Meituan: An entrepreneur fails only in two way- either running out of cash or giving up.

 

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[WJK]

Wang Xing, founder of Meituan: An entrepreneur fails only in two way- either running out of cash or giving up.

The cash part of your quote is interesting. Cash allows you either fail continuously or it allows you to try something else -- your Plan B, Plan C.. I know people who are 20 years into a business -- where they've done their first year 20 times and failed every time. They haven't had to change their MO because they've put in a cash infusion each year to cover their string of failures. Limited resources result in your second reason for failure. Either their business model was a bad idea or they ran out of resources.

 

[Kevin88660]

The cash part of your quote is interesting. Cash allows you either fail continuously or it allows you to try something else -- your Plan B, Plan C.. I know people who are 20 years into a business -- where they've done their first year 20 times and failed every time. They haven't had to change their MO because they've put in a cash infusion each year to cover their string of failures. Limited resources result in your second reason for failure. Either their business model was a bad idea or they ran out of resources.

Yes you are right.

Wang Xing was funded by Generous VC so he was playing a different game.

Monetization at an early stage is important who business people who use their own money.

But in current economic climate even investors are cautious about stories on pure growth.

 

[advantagecp]

“A harmless man is not a good man. A good man is a very dangerous man who has that under voluntary control.” -Jordan Peterson

The more I think about this the more I like it.

 

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[Dwight Schrute]

Noël Coward:

"I'll go through life either first class or third, but never in second."

"Work hard, do the best you can, don't ever lose faith in yourself and take no notice of what other people say about you."

"Work is more fun than fun."

 

[sparechange]

Good one from Elon Musk

''Stop being patient and ask yourself, how do I accomplish my 10 year goals in 6 MONTHS? You'll probably fail but you'll be alot further than the person who simply accepted it would take 10 years.''

Kinda like the 10x principle from Uncle G, aim big.

Which compliments this one from MJ

“We want entrepreneurs to succeed, the problem is the disconnect with your actions; your effort is not of a millionaire“ ~ MJ DeMarco

 

[OneLife]

It hit me hard soon as I saw the quote;

"We all die. The goal isn't to live forever, the goal is to create something that will". -Idk

 

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[FBA-N-SEO]

This is likely already on the list sine somebody said it on the forum:

"There are a lot of people in the sprint but very few in the marathon"

 

[Daniel A]

“I am not what happened to me, I am what I choose to become.” Carl Gustav Jung

 

[Daniel A]

“Think lightly of yourself and deeply of the world” Miyamoto Musashi

 

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[Siberia]

“Think lightly of yourself and deeply of the world” Miyamoto Musashi

Where you place your attention is where your energy goes.

 

[Voice Angel]

Be "selectively ignorant."

Ignore topics that drain your attention.

Unfollow people that drain your energy.

Abandon projects that drain your time.

Do not keep up with it all. The more selectively ignorant you become, the more broadly knowledgable you can be.

 

[Daniel A]

“When we are young we are often puzzled by the fact that each person we admire seems to have a different version of what life ought to be, what a good man is, how to live, and so on. If we are especially sensitive it seems more than puzzling, it is disheartening. What most people usually do is to follow one person's ideas and then another's depending on who looms largest on one's horizon at the time. The one with the deepest voice, the strongest appearance, the most authority and success, is usually the one who gets our momentary allegiance; and we try to pattern our ideals after him. But as life goes on we get a perspective on this and all these different versions of truth become a little pathetic. Each person thinks that he has the formula for triumphing over life's limitations and knows with authority what it means to be a man, and he usually tries to win a following for his particular patent. Today we know that people try so hard to win converts for their point of view because it is more than merely an outlook on life: it is an immortality formula.”
― Ernest Becker, The Denial of Death

 

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[Itizn]

"Don't focus on the problem, focus on the solution"
"See yourself as victorious"

- DJT

 

[andyhaus44]

Imagine this: If you had $86,400 in your account and someone stole $10 from you, would you be upset and throw all of the remaining $86,390 away in hopes of getting back at the person? Or move on and live?

Right, move on and live. We all have 86,400 seconds each day. Never let someone’s negative 10 seconds ruin the remaining 86,390.

 

[msufan]

Imagine this: If you had $86,400 in your account and someone stole $10 from you, would you be upset and throw all of the remaining $86,390 away in hopes of getting back at the person? Or move on and live?

Right, move on and live. We all have 86,400 seconds each day. Never let someone’s negative 10 seconds ruin the remaining 86,390.

This is actually a good analogy, because if someone stole $10 and I knew it could never happen again, I'd move on. But if I knew this was something where they could do it over and over again, I'd take action... which is probably a pretty good rule of thumb for time or money.

 

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[ZF Lee]

"Success isn’t luck — it’s intent. It’s doing what you’re trying to do on purpose.

If you run to catch a bus and you catch it, it’s the running that made it happen. You could’ve thought you’d miss it, waddled forward in misery, blamed your bad luck and been late… or you could’ve run and had the same fate as those who made it.

It’s not luck, it’s effort.

It's not myth, it's motion.

Please stop brushing off muscle. Please stop diminishing grit.

And no, not all success has to be hard. And effort doesn’t always equate to victory. Sometimes things just don’t work out. But getting really f*cking good at something?

That, my friend, requires work."

-From a Justin Blackman email today

 

[Kevin88660]

"Success isn’t luck — it’s intent. It’s doing what you’re trying to do on purpose.

If you run to catch a bus and you catch it, it’s the running that made it happen. You could’ve thought you’d miss it, waddled forward in misery, blamed your bad luck and been late… or you could’ve run and had the same fate as those who made it.

It’s not luck, it’s effort.

It's not myth, it's motion.

Please stop brushing off muscle. Please stop diminishing grit.

And no, not all success has to be hard. And effort doesn’t always equate to victory. Sometimes things just don’t work out. But getting really f*cking good at something?

That, my friend, requires work."

-From a Justin Blackman email today

What is luck in business?

It isn’t sleeping at home and something suddenly drops from the sky suddenly.

It usually comes in the form as a external growth catalyst for existing veterans.

The prerequisite is to stay in the same game for a number of years.

Zoom went viral in 2020 due to pandemic necessity but it existed since 2011.

 

[Daniel A]

"If you come from less, you will have to do more. It is what it is. Handle your business."

 

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[WJK]

"If you come from less, you will have to do more. It is what it is. Handle your business."

Coming from less is sometimes an advantage. I learned that when I was very young and went to Fashion/Business College 50 years ago. The other "girls" there all had Daddy's credit cards. Daddy paid for their apartments and school bills. I was poor with almost no resources. So I chose my seat on the front row of the classroom. I asked LOTS of questions and I hung on every word. I made friends with the teachers and spent my breaks asking more questions. I had a 3.9 grade point average. I got a stellar education.

The other "girls" bullied me a lot. I didn't pay attention to them and I didn't cower when they came after me. In the end, they left me alone because I pushed back when they bothered me. They got their "Mrs." degrees by marrying the right men. I used my education to create a successful career in real estate.

When I met up with some of the other students when we were in our 40s, they told me that I was SO LUCKY! They had forgotten about all the hard work and planning I had put into my career. They had expensive lifestyles and most had rocky marriages or rotten divorces. I was light years ahead of them. The contrast was more than remarkable.

Starting at the bottom of the pile can be the rocket fuel to get you there. It's a personal choice.

 

[heavy_industry]

When I met up with some of the other students when we were in our 40s, they told me that I was SO LUCKY!

Do you know what is most concerning about this disgusting behavior?

The ones who called you LUCKY actually believe this - to the very core.

They HAVE to believe this.

How else would they justify the crushing reality of their own inadequacy? Their failure to act? Their lack of discipline and commitment?

Blame everything on luck and capitalism!

It is easier and much more comfortable than looking in the F*cking mirror and seeing the MONSTER that has created the life that they are currently living.

 

[WJK]

Do you know what is most concerning about this disgusting behavior?

The ones who called you LUCKY actually believe this - to the very core.

They HAVE to believe this.

How else would they justify the crushing reality of their own inadequacy? Their failure to act? Their lack of discipline and commitment?

Blame everything on luck and capitalism!

It is easier and much more comfortable than looking in the F*cking mirror and seeing the MONSTER that has created the life that they are currently living.

I used to get really mad when people called me "lucky". All I could think about was the long days and the struggles to make things happen. Then I realized that I was, and am, the luckiest girl on the block. I ride a wave of lucky moments that I have created through hard work and relentless forward motion. I attract Lady Luck regularly. The "girls" who were my fellow students don't get the insights and lucky breaks that fall on me as I keep pushing forward. It has to do with the concept of momentum which allows me to create my own good luck. I have thought about this issue a lot over the years.

Now when others tell me I'm lucky, I agree with them and thank them for noticing. I know that I will find what I seek -- and those wins are what I focus on and count. The struggles and setbacks are just part of the process which are to be expected and planned for -- not emphasized. I work every day on having a thankful and a grateful spirit.

 

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[DonyaSze]

Imagine this: If you had $86,400 in your account and someone stole $10 from you, would you be upset and throw all of the remaining $86,390 away in hopes of getting back at the person? Or move on and live?

Right, move on and live. We all have 86,400 seconds each day. Never let someone’s negative 10 seconds ruin the remaining 86,390.

This one is really freaking good. Everyone who has ever gotten angry at something super tiny needs to see this.

 

[WJK]

This one is really freaking good. Everyone who has ever rest of the day was them screaming at each other.

The other day, I had two tenants get into a 90-second disagreement. The rest of the day was followed by a contest between them about who was right and who was wrong. Uh? They must have more spare time than I have. Talk about a wasted day!

 

[MJ DeMarco]

Do you know what is most concerning about this disgusting behavior?

The ones who called you LUCKY actually believe this - to the very core.

They HAVE to believe this.

How else would they justify the crushing reality of their own inadequacy? Their failure to act? Their lack of discipline and commitment?

Blame everything on luck and capitalism!

It is easier and much more comfortable than looking in the F*cking mirror and seeing the MONSTER that has created the life that they are currently living.

You've been contributing some awesome takes since your return, thank you the wisdom.

 

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[Kevin88660]

I used to get really mad when people called me "lucky". All I could think about was the long days and the struggles to make things happen. Then I realized that I was, and am, the luckiest girl on the block. I ride a wave of lucky moments that I have created through hard work and relentless forward motion. I attract Lady Luck regularly. The "girls" who were my fellow students don't get the insights and lucky breaks that fall on me as I keep pushing forward. It has to do with the concept of momentum which allows me to create my own good luck. I have thought about this issue a lot over the years.

Now when others tell me I'm lucky, I agree with them and thank them for noticing. I know that I will find what I seek -- and those wins are what I focus on and count. The struggles and setbacks are just part of the process which are to be expected and planned for -- not emphasized. I work every day on having a thankful and a grateful spirit.

How did entrepreneurs and business people persevere back then? Persistent high inflation and high interest rate. Saving and loan crisis. Japanese cars taking over the market…. Plenty negative headlines back then. Seems like history is repeating but those who have the will and means will still make it nonetheless.

 

[WJK]

How did entrepreneurs and business people persevere back then? Persistent high inflation and high interest rate. Saving and loan crisis. Japanese cars taking over the market…. Plenty negative headlines back then. Seems like history is repeating but those who have the will and means will still make it nonetheless.

I did get caught up in all of it. Mortgage interest rates were 9.5% when I started in real estate in 1976. By 1980 I owned 50% of two real estate offices and I was doing OK. Then it all crashed when interest rates went to 22% almost overnight. We closed one office and sold the other one -- we never got paid for the one we sold. It was a dead loss -- but I sure got a good education from those days.

Then around the early 1990s, everything crashed again when the Savings & Loan and the Thrift system failed. My boys were grown and left home around then. My ex-husband kicked me to the curb. I had been his trophy wife. He told me that he didn't need me anymore as he walked out the door. So, I went back to college -- I went to law school at night and on the weekends. I was in my early 40s. I had been doing some commercial and residential RE appraising on the side of my brokerage/investing business. It was before they licensed us. I ended up appraising full-time.

I met a fellow student at school who told me he was a Forensic Accountant. I pulled my chair up closer and asked about the nuts and bolts of what he did. It was "doable" for me too in my field. By the time I finished law school, I was working 60 hours per week at my real estate and carrying 9 grad units at school. I developed an expert witness and litigation support practice to go with my appraisal practice. No one at school knew about my business life. So, when I graduated, I didn't become an attorney. I was already doing better than my attorney clients.

When they did license us later in the 1990s, I qualified as a Certified General RE Appraiser, the highest license you can get. I'm still licensed but retired.

See, I am lucky. I'm not saying it was easy. There were only 7% women in the field of Commercial RE Appraising and the good 'ol boys constantly tried to kick me out of the business. They had (and have) a private trade organization that they would not let me join without me going to work for one of them for several years. I've been self-employed since 1976 -- so that wasn't going to happen. I went to law school to get the biggest stick I could find. And even with my Juris Doctorate, they still rejected me. Licensing appraisers gave me a level playing field.

I've had good days and bad days in real estate over those 48 years. I've pivoted several times as the business winds have changed. I've had big wins and huge failures. It's all in playing the game.