MY PRECIOUS

Frida Kahlo

I meet with my mentor as and when he’s available. He manages my family’s money and he’s very good at what he does - his firm manages about $5 billion, and I have great conversations with him. 

I don’t want to talk too much about him, but he came from a lower middle class background and today is wealthy beyond comprehension. He could buy a plane or two in the middle of the night if he wanted. 

Today we focused a lot of personal growth in my career. 

He gave me two books - The Inheritors by Sonu Bhasin and Fortune’s Children by Arthur Vanderbilt.

Here are some brief takeaways: 

Work backwards from the outcome you want. 

Define the outcome of where you want to be and plan it backwards to your current position. 

2. Eliminate, eliminate, eliminate. 

Life is all about elimination. Don’t focus  on your weaknesses, focus on your strengths. Eliminate all the things you know you’re not good at, you have no interest in and that make you depressed. 

3. Intellectual honesty. 

Be honest with yourself about things you are good at and are not.  The easiest person to fool is yourself. 

4. Read one business biography a week. 

Everything you’re going in life, there’s a 99% chance someone else has gone through it and come out of it victorious. He also mentioned this article.

5. Outline 3 strengths and 3 weaknesses.

6. (In business/ corporate careers) You’re either primarily an investor (you’d rather fund companies and start ups than start them), an operator (you’d rather build something hands on), or a manager (you’d rather periodically manage something hands off. Like for instance you could have your own franchise bakery chain where you don’t need to exercise minute control over every franchise but you still ensure that there’s some managing done from your part). 

7. Do not have extreme ideologies at this age. 

Not when it comes to religion, politics, etc. 

8. Emotions, money and your time are something you need to be ruthless about. Absolutely ruthless. 

Annie Kagan