Summary

The conversation covers various topics, including deep-fried cheese sticks, preventing boredom, Granddad's birthday, the dog track, staying motivated, and the process of writing. The conversation explores the importance of setting goals and chasing after them to find fulfillment and avoid boredom. It emphasizes the need for a North Star goal and breaks it down into actionable steps. The hosts discuss the significance of motivation and how it can be sustained by constantly setting new challenges and finding new reasons to be excited. They also highlight the role of incentives and contests in driving innovation and engagement within a business. The conversation concludes with the idea that choosing something to chase is the key to happiness and personal growth.

Chapters

00:00 The Adult Food on Children's Menus

02:38 Granddad's Dedication to the Dog Track

09:27 Finding New Rabbits to Chase

11:19 Staying Motivated: Setting New Goals

16:07 The Process of Writing: Falling in Love with the Grind

29:12 Motivation and Challenges

45:36 Choosing Something to Chase for Happiness and Personal Growth

Summary

In this conversation, Ian and Frank discuss the topic of changing your manager's mind. They share their personal experiences and insights on navigating the dynamics between managers and employees. They explore why managers often fall in love with their ideas and the challenges of convincing them otherwise. They also discuss the importance of trust, competence, and taking ownership in building a persuasive case. The conversation highlights the need to understand the manager's perspective and the impact of decisions on their roles and responsibilities. The conversation discusses five methods to change the mind of a manager. These methods include bringing new information to the table, explaining the unintended consequences, using facts and data, building a posse of supporters, and changing the environment. The hosts provide examples and insights on how to implement these methods effectively. They emphasize the importance of removing ego and being open-minded to new ideas. The conversation also highlights the significance of storytelling, seeking feedback, and maintaining conviction when persuading a manager.

Chapters

00:00   Introduction and Personal Experiences

03:02   Managers Falling in Love with Their Own Ideas

06:09   Taking Ownership and Making a Big Impact

08:07   Managers Making Decisions for Frontline Employees

13:20   The Role of Trust and Fear in Persuasion

21:18   Proving Competence and Taking on More Responsibility

23:14   Good Managers Harnessing and Empowering Employees

23:32   Bringing New Information

26:51   Explaining Unintended Consequences

30:08   Using Facts and Data

37:08   Building a Posse

44:42   Changing the Environment

Are you burned out? You're not alone. Burnout feels inevitable in this age. But you don't have to roll over and give up. Frank and Ian outline several steps to help you get your mojo back.

Takeaways

• Consistency and daily practice are key to achieving success in any endeavor.
• The Seinfeld method, or creating a streak of positive habits, can help build momentum and lead to long-term results.
• Writing every day can help establish credibility and build a following.
• Distinguishing between fads and trends is important in setting sustainable goals and habits. Streaks can gamify habits and make them more enjoyable and motivating.
• Consistency and daily habits are crucial for success in personal and business endeavors.
• Lead generation and marketing should be daily habits in order to grow a business.
• Streaks can lead to significant long-term rewards and success.
• Streaks can also have negative consequences, such as burnout.
• Starting and maintaining streaks can have a compounding effect over time.

Chapters

07:36

Introducing the Seinfeld Method

14:45

The Power of Consistency and Daily Practice

27:31

The Role of Daily Lead Generation and Marketing in Business

34:37

The Uninterrupted Streak of Breathing

43:56

Starting and Maintaining Streaks for Success

In this conversation, Ian and Frank discuss their experiences raising capital for their businesses and investing in different markets. They explore factors influencing a small business owner's decision to seek capital, such as market conditions and personal financial goals. They also delve into the advantages of investing in Richmond, Virginia, including lower costs compared to other markets and the ability to leverage their knowledge and contacts. The conversation highlights two investment structures they have used: a portfolio of single-family homes and the renovation of commercial buildings. Overall, they emphasize the importance of understanding the market and building a solid team when seeking capital and investing in real estate. Frank and Ian discuss their previous real estate deals and their current investment opportunity. They highlight each deal's different structures and returns, emphasizing the importance of having multiple exit strategies and considering market conditions. They also discuss the benefits of private funding over traditional bank loans and the security of investing in real estate-backed bonds. 

01:38 The Market in 2024: Hunting for Capital

06:05 Richmond's Market and Potential

08:38 Richmond's Metropolitan Statistical Area

10:31 Considering Other Markets: Fort Lauderdale, California, and DC

13:03 Entering the Richmond Market

14:00 Why Continue Investing in Richmond?

15:42 Challenges of Entering a New Market

20:04 Different Investment Structures: Single-Family Homes and Commercial Buildings

22:56 Structuring the Investments: Portfolio of Single-Family Homes

23:26 Structuring the Investments: Renovation of Commercial Buildings

23:52 Different Deal Structures

30:48 Investing in Identical Assets

35:25 Real Estate-Backed Bonds for Cash Flow

41:08 Private Funding vs. Traditional Bank Loans

44:28 Diversifying Investment Portfolios

45:16 Market Conditions and Team Strength

Frank and Ian discuss the challenges of restarting after taking a break in this conversation. They share personal experiences and insights on overcoming inertia and embracing discomfort when starting something new. They emphasize the importance of commitment, setting goals, finding leverage, and seeking support to hold oneself accountable. They also highlight the benefits of taking breaks to recharge and gain fresh perspectives. They encourage listeners to take control of their decisions and make intentional choices when restarting or pursuing new endeavors.

Takeaways:

Restarting after a break can be challenging, but it is possible with the right mindset and strategies.

Embrace discomfort and lean into the change process to overcome inertia and create new habits.

Set specific goals, find leverage, and seek support to hold yourself accountable. Taking breaks can provide opportunities for recharging, gaining fresh perspectives, and avoiding burnout.

00:00 Introduction and Catching Up

02:15 Taking a Break from Podcasting

05:30 The Challenges of Restarting

09:01 The Importance of Commitment and Change

11:08 Embracing Discomfort and Overcoming Inertia

20:32 Setting Goals and Finding Leverage

26:33 The Benefits of Taking Breaks

30:06 Accountability and Recharging

35:37 Seeking Support and Holding Yourself Accountable

Coach "Prime" is disrupting the landscape of college football recruiting. Assuming a roster that won only one game in 2022, Deion Sanders is wasting no time upgrading the roster but at what cost? In this episode, we talk about the pros and cons of building a team versus buying one (along with the short and long-term repercussions).

Screw Vegas; real men take boys trips to Omaha! Thinking of going to see Warren and Charlie next year at the biggest investor event of the year? Frank and Ian give you an inside look at what you can expect from travel, accommodations, restaurants, tickets, finding a seat, and of course, where to find a decent casino.

North Carolina has introduced a bill to eliminate participation trophies. We debate the merits of continuous versus intermittent feedback and how demonizing encouragement for beginners might not be the best answer. When is it appropriate to cheer participation, and when is it hurtful? We look at the parallels of youth sports with managing a corporate team.

Too many people major in minor things. Anyone who responds with “busy” every time you ask them how they’re doing is likely not a productive asset to their company. Why are people busy? It’s typically an inability to prioritize, a refusal to delegate, and an unwillingness to tackle the hardest tasks. So they fill their day moving paper around and responding to emails while the wealthy focus on a few big things and ruthlessly cut everything out of their schedule.

In this episode, we dive into the psychological barriers involved with “busy” people and talk about how you can switch your focus.