rise and shine it’s an espresso time
good morning relief nation it’s even my
one word is believe and I believe in you
I believe in that amazing gift you have
inside to you that needs to be shared
with the world so let’s start the day
off right together grab your cup of
coffee and sit on today’s message define
your circle of competence over to you
Warren Buffett
I have an old-fashioned belief that I
can only should expect to make money and
things that I understand and when I say
understand I don’t mean understand you
know what the product does or anything
like that I mean understand what the
economics of the business are likely to
look at look like ten years from now or
20 years from now I know in general what
the economics of say Wrigley chewing gum
will look like 10 years now the internet
isn’t going to change the way people
chew gum it isn’t going to change what
you come they chew you know if you own
the chewing gum market in a big way and
you’ve got double mint in the super mint
and juicy fruit those brands will be
there ten years from now so I can’t
pinpoint exactly what the numbers are
gonna look like on Wrigley but I’m not
gonna be way off if I try to look
forward on something like that that
evaluating that company is within what I
call my circle of confidence I
understand what they do I understand the
economics of it I understand the
competitive aspects of the business
figuring out the economic consequences
TV I think there’s I don’t know 20 25
million cents a year sold the United
States I don’t think there’s one of them
made in the United States anymore I mean
you’d say TV set manufacturer what a
wonderful business site everybody now
nobody had a TV in 1950 or thereabouts
45 to 50 everybody has multiple sets now
nobody is in the United States has made
any real money making the census they’re
all out of business
you know the Magnavox is the RCA is all
of those companies radio was the
equipment of the 20 over 500 companies
making radios in the 1920s again I don’t
think there’s a u.s. radio manufacturer
at the present time but coca-cola you
know I was at 1884 Jacobs pharmacy or
whatever and fellow comes up with
something a lot of copiers over the
years but now you’ve got a company that
is selling roughly 1.1 billion
8 ounce servings of its product not all
cokes right and some others daily
throughout the world 117 years later so
understanding the economic
characteristics of a business is
different than predicting the fact that
an industry is going to do wonderfully
so I look at the internet businesses are
look at tech messes I say this is a
marvelous thing and I’d love to play
around on the computer and it now I
ordered my books from Amazon and all
kinds of things but I don’t know who’s
gonna win unless I know who’s gonna win
I’m not interested in the best thing
I’ll just play around on the computer
and defining your circle of competence
is the most important aspect of
investing it’s not how important how
large your circle is you don’t have to
be an expert on everything but knowing
where the perimeter of that circle of
what you know on what you don’t know is
and staying inside of it is all
important Tom Watson seniors started IBM
said in his book he said I’m no genius I
said but I’m smart in spots I stay
around those spots and you know that is
the key so if I understand a few things
and I stick in that arena I’ll do okay
and if I don’t understand something but
I get all excited about it because my
neighbors are talking about stocks are
going up and everything they start
fooling around someplace else eventually
I’ll get creamed and I should the most
successful people in the world they know
what they’re great at and they know what
not to touch
they know what they never want to be
great at they’re not gonna now you know
they never want to be good at it they
have zero passion for it and as long as
you’re spending their time doing it
they’re not gonna be able to be a
success I believe that everybody has
what I call Michael Jordan level talent
at some point you could be the best in
the world at something it’s just finding
what that is and then spending more time
there I think the goes of you who even
have the awareness what that Michael
Jordan level talent is you’re not
spending a lot of time there you’re
spending like 10% of your time doing
that thing that you could be the best in
the world at and 90% of your time doing
the stuff that you hate that you suck at
that never want to get better at if you
suck at something but you want to get
better you have a passion for it you can
learn you can get good really quickly
but if you have no interest in it and
you’re just kind of doing it if that’s
how you spend your life spending 90% of
your time doing work that you hate that
you never want to get better at you’ll
never do great things if you’re spending
time on work that you hate it just
doesn’t have
if you’re around people that you hate
doing work that you hate it’s not
enticing is not not inspiring is not
pushing you will never go off and do
great things and so it’s finding what
that thing is that you have the ability
to be the best in the world that and
then going all-in on that so my new
mission is I want to help solve the
world’s biggest problem I believe the
world’s single biggest problem is
untapped human potential I think it’s
the biggest problem I don’t think it’s
cancer I think I think the person who
can solve cancer right now is working at
a McDonald’s and I want to help her
leave McDonald’s and go solve cancer I
recognize that my unique ability is
around balloon but my unique ability is
to help people believe in themselves I
believe in people more than they believe
themselves and that by being around me
either in person or my content or the
books or anything helps people believe
more in themselves to go out and do
amazing things I can’t solve cancer I
don’t have that ability if I tried I
would I would fail and sock-like I don’t
like science I don’t want to learn
science
I have no interesting getting better at
that and all the other problems that the
world is facing I don’t know how to go
and solve those things I don’t have the
interest in doing it what I want to do
is partner up with the people who have
those big ambitions who have those big
dreams to go out and solve an important
problem and I give them that little bit
of juice I give them at that little half
a percent extra that makes them make
that switch that every day they’re
waking up on fire going off and chasing
that goal that big ambition that I have
was solving the world’s biggest problem
untapped human potential is never gonna
be realized it never will happen there’s
always more room for potential but it’s
inspiring it’s exciting and I’m doing
the thing that I love best that I’m
really good at that I have the Michael
Jordan level talent that I have ever
incarnate level talent at and so I
encourage you to find that thing that
you are great at that you can be greater
maybe you’re not great at it yet but
like you can be you can be the Michael
Jordan of this and then trying to find
every possible way to spend as much time
doing that thing where you can just add
so much insane value compared to all the
other activities and tasks and boring
crap do you hate doing stop doing the
crap start doing the Michael Jordan
level work
so the question today today is I’m
curious what is the biggest crap that
you got to give up in your business then
you got to eliminate from your
day-to-day that you got to stop doing
immediately let go of so you can be
unleashed what is that thing that you’re
gonna drop now leaving the comments
below I’m really curious to find out I
also want to give a quick shout out to
Serge Berber off Serge thank you so much
for picking up a copy of my book in one
word really really really means a lot to
me I love that picture that you posted
that’s a great happy picture in an open
field and I hope you got a lot from the
book as well so thank you guys again for
watching I believe in you and I hope you
continue to believe in yourself and
whatever your one word is I’ll see you
again tomorrow morning for another shot
events Bessette
in my life I thought I knew everything I
thought I’d know how to run a restaurant
but I realized that I was a really good
chef I was a really good cook
I had no idea about finances I knew
nothing about I couldn’t read a P&L and
I didn’t know how to run a dining room
and and those are a big part of a
restaurant you know certainly a big part
of any business you know it turns a
financial so when I when I when I was
able to buy Raquel I was able to buy
French Laundry I realized that I needed
somebody in the dining room I can focus
on the name there was an expert on the
dining room and I needed somebody you
know who could take care of our
financial and so it became a tripod
there was me in the kitchen focused on
the food which was really my expertise I
realized that was my expertise that was
my strengths and I need to play with my
strengths and and find those individuals
who could compensate for my weaknesses
and so Laura Cunningham became the
general manager of the restaurant we had
a young bookkeeper named Pat McCarthy
and she took care of all of our
financials and that’s what the basis and
the foundation she was a girl wants to
someone who I guess takes charge of like
her own life so it’s a girl boss or a
guy boss it’s someone who knows their
weaknesses and knows what their
strengths are knows how to play to their
strengths I think there’s a lot of
people out there and I’ve interviewed a
lot of them who my favorite interview
question is name your biggest strengths
and your biggest weakness or what do you
have to work on and the scariest people
the ones who say like I show up early
it’s my biggest weakness or like I work
too much it’s my biggest weakness and
you know everybody has things that they
can improve upon and I think a world
where everybody is more aware of that is
a good one in a place where people can
be empowered to make choices in their
life rather than throw themselves into
places that they may not inherently be
successful because the world is sold
them some story of what they should be
doing so I guess a girl boss is someone
who is in choice so what do you meet new
talent emerging talent and you’re
mentoring them if what if you don’t have
a confidence that they have the level of
talent required to achieve greatness how
do you counsel them what do you say to
make them feel
confident to not rob them of that moment
but also steer them in the right
direction I mean you can’t say you
really you’re zero by talking to them
understand what their concerns are what
what sort of self-image they have and
and trying to to show them their
strengths to and if they have some kind
of weakness while trying to you know not
focus on those weaknesses I think an
entertainment industry that’s that’s
what works you know you you know your
strengths you milk him you know you you
know your weaknesses you try not to
focus on them so much so that the
audience doesn’t focus on them as much
raise your standard Apple at the core
its core value is that passion not one
drop of my self-worth depends on Europe
that’s something to me
I don’t ever give up I’d have to be dead
or completely incapacitated hey believe
nation if you want to see my all-time
favorite top ten most a success I have a
very special secret video for you these
are the individual clips that I have
personally learned the most from and
applied to my life and my business check
the link in description for details
good morning relief nation it’s even my
one word is believe and I believe in you
I believe in that amazing gift you have
inside to you that needs to be shared
with the world so let’s start the day
off right together grab your cup of
coffee and sit on today’s message define
your circle of competence over to you
Warren Buffett
I have an old-fashioned belief that I
can only should expect to make money and
things that I understand and when I say
understand I don’t mean understand you
know what the product does or anything
like that I mean understand what the
economics of the business are likely to
look at look like ten years from now or
20 years from now I know in general what
the economics of say Wrigley chewing gum
will look like 10 years now the internet
isn’t going to change the way people
chew gum it isn’t going to change what
you come they chew you know if you own
the chewing gum market in a big way and
you’ve got double mint in the super mint
and juicy fruit those brands will be
there ten years from now so I can’t
pinpoint exactly what the numbers are
gonna look like on Wrigley but I’m not
gonna be way off if I try to look
forward on something like that that
evaluating that company is within what I
call my circle of confidence I
understand what they do I understand the
economics of it I understand the
competitive aspects of the business
figuring out the economic consequences
TV I think there’s I don’t know 20 25
million cents a year sold the United
States I don’t think there’s one of them
made in the United States anymore I mean
you’d say TV set manufacturer what a
wonderful business site everybody now
nobody had a TV in 1950 or thereabouts
45 to 50 everybody has multiple sets now
nobody is in the United States has made
any real money making the census they’re
all out of business
you know the Magnavox is the RCA is all
of those companies radio was the
equipment of the 20 over 500 companies
making radios in the 1920s again I don’t
think there’s a u.s. radio manufacturer
at the present time but coca-cola you
know I was at 1884 Jacobs pharmacy or
whatever and fellow comes up with
something a lot of copiers over the
years but now you’ve got a company that
is selling roughly 1.1 billion
8 ounce servings of its product not all
cokes right and some others daily
throughout the world 117 years later so
understanding the economic
characteristics of a business is
different than predicting the fact that
an industry is going to do wonderfully
so I look at the internet businesses are
look at tech messes I say this is a
marvelous thing and I’d love to play
around on the computer and it now I
ordered my books from Amazon and all
kinds of things but I don’t know who’s
gonna win unless I know who’s gonna win
I’m not interested in the best thing
I’ll just play around on the computer
and defining your circle of competence
is the most important aspect of
investing it’s not how important how
large your circle is you don’t have to
be an expert on everything but knowing
where the perimeter of that circle of
what you know on what you don’t know is
and staying inside of it is all
important Tom Watson seniors started IBM
said in his book he said I’m no genius I
said but I’m smart in spots I stay
around those spots and you know that is
the key so if I understand a few things
and I stick in that arena I’ll do okay
and if I don’t understand something but
I get all excited about it because my
neighbors are talking about stocks are
going up and everything they start
fooling around someplace else eventually
I’ll get creamed and I should the most
successful people in the world they know
what they’re great at and they know what
not to touch
they know what they never want to be
great at they’re not gonna now you know
they never want to be good at it they
have zero passion for it and as long as
you’re spending their time doing it
they’re not gonna be able to be a
success I believe that everybody has
what I call Michael Jordan level talent
at some point you could be the best in
the world at something it’s just finding
what that is and then spending more time
there I think the goes of you who even
have the awareness what that Michael
Jordan level talent is you’re not
spending a lot of time there you’re
spending like 10% of your time doing
that thing that you could be the best in
the world at and 90% of your time doing
the stuff that you hate that you suck at
that never want to get better at if you
suck at something but you want to get
better you have a passion for it you can
learn you can get good really quickly
but if you have no interest in it and
you’re just kind of doing it if that’s
how you spend your life spending 90% of
your time doing work that you hate that
you never want to get better at you’ll
never do great things if you’re spending
time on work that you hate it just
doesn’t have
if you’re around people that you hate
doing work that you hate it’s not
enticing is not not inspiring is not
pushing you will never go off and do
great things and so it’s finding what
that thing is that you have the ability
to be the best in the world that and
then going all-in on that so my new
mission is I want to help solve the
world’s biggest problem I believe the
world’s single biggest problem is
untapped human potential I think it’s
the biggest problem I don’t think it’s
cancer I think I think the person who
can solve cancer right now is working at
a McDonald’s and I want to help her
leave McDonald’s and go solve cancer I
recognize that my unique ability is
around balloon but my unique ability is
to help people believe in themselves I
believe in people more than they believe
themselves and that by being around me
either in person or my content or the
books or anything helps people believe
more in themselves to go out and do
amazing things I can’t solve cancer I
don’t have that ability if I tried I
would I would fail and sock-like I don’t
like science I don’t want to learn
science
I have no interesting getting better at
that and all the other problems that the
world is facing I don’t know how to go
and solve those things I don’t have the
interest in doing it what I want to do
is partner up with the people who have
those big ambitions who have those big
dreams to go out and solve an important
problem and I give them that little bit
of juice I give them at that little half
a percent extra that makes them make
that switch that every day they’re
waking up on fire going off and chasing
that goal that big ambition that I have
was solving the world’s biggest problem
untapped human potential is never gonna
be realized it never will happen there’s
always more room for potential but it’s
inspiring it’s exciting and I’m doing
the thing that I love best that I’m
really good at that I have the Michael
Jordan level talent that I have ever
incarnate level talent at and so I
encourage you to find that thing that
you are great at that you can be greater
maybe you’re not great at it yet but
like you can be you can be the Michael
Jordan of this and then trying to find
every possible way to spend as much time
doing that thing where you can just add
so much insane value compared to all the
other activities and tasks and boring
crap do you hate doing stop doing the
crap start doing the Michael Jordan
level work
so the question today today is I’m
curious what is the biggest crap that
you got to give up in your business then
you got to eliminate from your
day-to-day that you got to stop doing
immediately let go of so you can be
unleashed what is that thing that you’re
gonna drop now leaving the comments
below I’m really curious to find out I
also want to give a quick shout out to
Serge Berber off Serge thank you so much
for picking up a copy of my book in one
word really really really means a lot to
me I love that picture that you posted
that’s a great happy picture in an open
field and I hope you got a lot from the
book as well so thank you guys again for
watching I believe in you and I hope you
continue to believe in yourself and
whatever your one word is I’ll see you
again tomorrow morning for another shot
events Bessette
in my life I thought I knew everything I
thought I’d know how to run a restaurant
but I realized that I was a really good
chef I was a really good cook
I had no idea about finances I knew
nothing about I couldn’t read a P&L and
I didn’t know how to run a dining room
and and those are a big part of a
restaurant you know certainly a big part
of any business you know it turns a
financial so when I when I when I was
able to buy Raquel I was able to buy
French Laundry I realized that I needed
somebody in the dining room I can focus
on the name there was an expert on the
dining room and I needed somebody you
know who could take care of our
financial and so it became a tripod
there was me in the kitchen focused on
the food which was really my expertise I
realized that was my expertise that was
my strengths and I need to play with my
strengths and and find those individuals
who could compensate for my weaknesses
and so Laura Cunningham became the
general manager of the restaurant we had
a young bookkeeper named Pat McCarthy
and she took care of all of our
financials and that’s what the basis and
the foundation she was a girl wants to
someone who I guess takes charge of like
her own life so it’s a girl boss or a
guy boss it’s someone who knows their
weaknesses and knows what their
strengths are knows how to play to their
strengths I think there’s a lot of
people out there and I’ve interviewed a
lot of them who my favorite interview
question is name your biggest strengths
and your biggest weakness or what do you
have to work on and the scariest people
the ones who say like I show up early
it’s my biggest weakness or like I work
too much it’s my biggest weakness and
you know everybody has things that they
can improve upon and I think a world
where everybody is more aware of that is
a good one in a place where people can
be empowered to make choices in their
life rather than throw themselves into
places that they may not inherently be
successful because the world is sold
them some story of what they should be
doing so I guess a girl boss is someone
who is in choice so what do you meet new
talent emerging talent and you’re
mentoring them if what if you don’t have
a confidence that they have the level of
talent required to achieve greatness how
do you counsel them what do you say to
make them feel
confident to not rob them of that moment
but also steer them in the right
direction I mean you can’t say you
really you’re zero by talking to them
understand what their concerns are what
what sort of self-image they have and
and trying to to show them their
strengths to and if they have some kind
of weakness while trying to you know not
focus on those weaknesses I think an
entertainment industry that’s that’s
what works you know you you know your
strengths you milk him you know you you
know your weaknesses you try not to
focus on them so much so that the
audience doesn’t focus on them as much
raise your standard Apple at the core
its core value is that passion not one
drop of my self-worth depends on Europe
that’s something to me
I don’t ever give up I’d have to be dead
or completely incapacitated hey believe
nation if you want to see my all-time
favorite top ten most a success I have a
very special secret video for you these
are the individual clips that I have
personally learned the most from and
applied to my life and my business check
the link in description for details
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