And to tell you the honest truth...it isn't a fun job 😅
It's stressful, draining, and when it's unclear whose responsibility something is, it's yours.
2/ Now that I've moved into a role as an investor, one thing I tell startup founders is this: CEOs only have one job -- prioritize.
CEOs are professional prioritizers.
Everything else is detail.
Which brings me to the main issue I find with startup founders.
3/ It's not that they aren't smart or dedicated or capable of performing at a high level, it's that they make no time in their day for their key responsibility of prioritizing.
4/ They're so busy reacting to emails, Slack notifications, and hopping between calls, they don't make time to prioritize the things that will help the company scale.
5/ And so my advice to every founder is this: Make time to think.
It is quite literally a competitive advantage.
While other people are distracted, running from task to task, you'll be able to do the strategic thinking necessary to build a company.
6/ I recently appeared on The @NFX Podcast with @JamesCurrier where we talked about why I wrote my first book Hooked, how to build habit-forming products, and my angel investment strategy.
1/ How can we motivate people to make healthy decisions and be more productive?
Before we answer that, we have to know the difference between extrinsic and intrinsic motivation.
2/ Extrinsic motivation relies upon factors outside ourselves, such as the approval of others, to provide an incentive for action.
Examples of extrinsic motivators include the pursuit of money, social status, praise, food, material wealth, or fame.
3/ Here’s where things get interesting.
Studies reveal that high stakes rewards, like cash bonuses, can hinder cognitive capacity because they shift our focus away from the task and onto the outcome.
We can become preoccupied with rewards instead of just doing the work.