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Jack Butcher

@jackbutcher

1 Feb

Building a Personal Monopoly: (thread)

How to combine competence, curiosity, and character to create a category of one.

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1/ Competence

If we want anyone to spend their time, attention or money on anything of ours, we must first be competent.

Lots of people are competent, so there's lots of competition here.

Let's say this is "school teachers"

2/ Competence + Curiosity

If we add curiosity to the mix, competition starts to thin.

This separates the generalist practitioners from the irrationally passionate.

Let's say this is "school teachers who are curious about learning innovation"

Read 9 tweets

Jack Butcher

@jackbutcher

28 Jan

@david_perell

The DICE Framework: (thread)

I just shared this idea in "How to Build a Personal Monopoly" w/ @david_perell

Here it is again.

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@traf

1/ Divergence

Steve Jobs famously said "You can only connect the dots looking backwards."

So your job to begin with, is to collect dots (h/t @traf), or "diverge" — we're pulled our curiosity to create competence: Jobs, projects, experiences, books, people, places, ideas, etc.

2/ Convergence

The stringing together of the things you care about in a unique (and marketable) manner.

For me — design, commerce, philosophy, self-development.

This is where we "connect dots."

Read 9 tweets

Jack Butcher

@jackbutcher

28 Jan

What is "first principles thinking" and how does it work?

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1/ First, a few definitions.

A "first principle" is a foundational assumption or proposition - it is foundational in that it cannot be deduced from other assumptions or propositions.

Think of a first principle like an element. It cannot be broken down further. It is pure.

2/ "First principles thinking" (or "reasoning from first principles") is a problem-solving technique that requires you to break down a complex problem into its most basic, foundational elements.

The idea: to ground yourself in the foundational truths and build up from there.

Read 14 tweets

Jack Butcher

@jackbutcher

20 Jan

"Finding your passion" will have you going in circles.

Finding a problem you're passionate about solving will give you direction.

@austin_rief

Credit to @austin_rief for sparking this thought:

https://twitter.com/austin_rief/status/1351271066845519875

Ironically, what you despise the most will probably do a better job of locating something within you that you can turn into something useful than what you love.

Read 8 tweets

Jack Butcher

@jackbutcher

19 Jan

Automate or die:

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The bigger our business grows, the less time we can spend on the things that made our business grow in the first place.

More and more time is spent sending emails and scrolling through spreadsheets instead of working on product.

Fortunately, the most time consuming "commodity tasks" can be automated: billing, enrollment, documentation, content scheduling etc.

Read 7 tweets

Jack Butcher

@jackbutcher

9 Jan

@SahilBloom

Circle of Competence 101:

@SahilBloom x @jackbutcher

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1/

A Circle of Competence is the set of topic areas that align with a person's expertise.

If the entire world of information were to be expressed in a circle, an individual's Circle of Competence is the small sub-circle that represents their expertise.

2/

The idea surfaced in the 1996 BH annual letter.

"You don’t have to be an expert on every company...you only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital."

Read 14 tweets

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