When I was 22, I could've made 30% more in my first job.

But I didn't.

Why?

I didn't ask for a raise. I had no clue you could do that!

Early career years are painful. You feel like an idiot 98% of the time.

Here are 20 things about building a career I wish I knew sooner 👇👇
Everything boils down to AMA

A: Ability - do you have the skills to pull it off?
M: Motivation - do you have the desire to pull it off?
A: Attitude - do you have the headspace to pull it off?

Strive for situations where each of these 3 are firing on all cylinders.
Play games worth playing

My friend @ChrisJBakke has a pithy quote:

“$30M Under 30 > Forbes 30 Under 30.”

He said it in jest, but it’s spot on. In the internet era, it's easier than ever to chase vanity metrics (meaningless PR/accolades).

Focus on what actually matters.
Don’t overstudy outliers (e.g. billionaires)

Outliers are unique by definition. If you obsess over analyzing how they succeeded, you'll likely pull out the wrong lessons.

If the ball bounced slightly sideways, the outcome would have been completely different.
Optionality caps your downside AND your upside

As you progress in your career, the accumulation of skill is more attractive than the promise of potential. This shift can be painful - it happens very suddenly.

Sacrifice optionality early, so you can get more of it later.
"Anything is possible" doesn't mean "everything is probable."

It's important to understand: (1) whether something is likely and (2) the impact of a stated outcome.

There's no "right or wrong", but you should always be aware of the risk you're taking and its implications.
The right time to start is yesterday

If you’re waiting for the right time, you’re implicitly assuming: (1) there is a “right time” AND (2) you will recognize that right time.

Think about that.

Each of those individually are borderline impossible to diagnose, let alone both.
People don’t have short attention spans, they have short consideration spans

If you want to meet someone, work with them and/or get their help, you need to figure out "the hook."

Busy people get thousands of inbound emails, DMs and phone calls.

Focus on standing out.
Adding value will get you consideration.

There’s one resource we’re all constrained by - time. If you want to build a relationship, figure out how you can make someone's time more valuable.

Make an introduction, help with an initiative, deliver an insight.

Accelerate them.
Internalize asymmetric upside

An asymmetric bet is simple to understand. If you lose, you lose 1x. But if you win, there's no limit to the upside (♾)

You want to make sure you're taking enough swings (and the right types) to give yourself a shot at meaningful upside.
Aggressively seek out knowledge

A lot of rich people often say "nobody really knows what they're doing." 🤷‍♂️

Bull. Shit.

Most successful people I know are well intentioned, well networked and well read.

There are clear proven tactics/strategies - learn these early on.
Learn just enough to be dangerous

You don't need to be an expert, but you should know enough about: (a) how the world works, (b) how businesses work and (c) how people think.

Most people surprisingly don't. If you do, you'll be an asset in any organization from Day 1.
Break up challenges into component parts

1. Incentives
2. Personalities
3. Perspectives
4. Constraints
5. Resources

Most difficult situations I have faced have been a function of ~2-3 of these being out of whack. I didn't realize this until long after the fact.
Building is 99% execution, 1% vision

We glamorize vision and foresight too much. The majority of any project is actually really boring.

It's all about being present, consistent and giving it the right level of effort day-in and day-out.

This is deceptively difficult.
Seek out situations that maximize your value:

1. What am I GOOD at?
2. What does the MARKET need?
3. What do I WANT to do?

If you’re lucky enough to find the intersection of these 3, hold on tight.
Learn the 101 of equity

Don’t EVER get duped. I've seen too many people accept options packages that they flat out don't understand.

It takes a small person to look smart.

It takes a big person to act smart.

If you don't know what something means - ASK.
Build in public

I wish I started this earlier. Building in public is one of the most underrated and powerful things you can do in your career.

College is $250k for a credential. The internet now allows you to do that for free.
Build an audience

When I started my podcast, I did it with strong selfish interest. I wanted to learn from the best in the world.

In parallel, sharing my thoughts built audience which created opportunities.

⬆️audience = ⬆️reach = ⬆️surface area = ⬆️serendipity =⬆️opportunity
Spend time with people that are better than you

The quickest way to accelerate your personal growth is to surround yourself with people that are better than you at specific things.

Pick their brains and learn from them.

It's the fastest way to level up.
Spend more time on Twitter

Seriously.

It sounds crazy, but I've made many of my best friends IRL from Twitter and learned a TON from them.

LinkedIn DMs = Death to Me
Twitter DMs = Deal Making

This platform is criminally undermonetized (but that’s changing now!)
Don’t compare yourself to others

As you get older, the likelihood that you will have an amazing friend that doesn't get the credit they deserve and a morally soulless person that gets ahead is pretty likely.

Especially in tech.

Play your game and just focus on yourself.
BONUS: Don’t get high on your own supply. You’re not really that cool. And the quicker you figure that out, the better it is for you and everyone around you.
So to recap:

- Start TODAY
- Aggressively seek out knowledge
- Spend time with people that will 10x you
- Follow their “playbooks”
- Don’t compare yourself to others
- Be nice. Reputations are everything

Careers are a marathon not a sprint.

Best of luck!
If you enjoyed this thread, give me a follow

➡️@romeensheth⬅️

And if you have any questions, DM me.

I’ll answer questions over the next few hours.

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More from @RomeenSheth

19 Jun
0/ [THREAD] Over the last 4 years, I’ve interviewed 100+ of the most successful Investors, Founders and Executives in the world.

Here are the 20 "must have" lessons that most stuck out to me.

Lessons on life, career advice, entrepreneurship and startups 👇👇👇
1/ Always strive to simultaneously be overrated and underrated.

Contrary to popular belief, being overrated is good. It opens doors and gives you credibility.

But don’t let this go to your head. Stay hungry, humble and hardworking.
2/ Most people overinvest in expiring skills & underinvest in permanent skills.

Expiring skills are tactical; their relevance diminishes with time and technology

Permanent skills are evergreen and create disproportionate impact (e.g. communication, judgement, trust, empathy)
Read 23 tweets
13 Jun
0/ If you’re an SMB operator and want to increase the value of your business, focus on 2 things above all else.

1. EBITDA: how much $ do you make
2. Risk: how reliable is the $ you make

Enough has been written about #1. Here are 5 things you can do to tackle #2:

[THREAD]
1/ All 5 of these tactics are a function of the same guiding principle:

Spend more time working ON the business, not IN the business.

Your job as CEO is to consistently:

- Identify opportunity
- Execute once
- Set process
- Delegate
- Fire yourself

With that said…
2/ Establish your focus

Most SMBs survive in the early days through 1-2 key customers.

If you do a good job, they'll give you more business.

That's the trap.

If it's not in your core focus, resist the urge.

If you don't you'll become a consulting firm for 1 customer.
Read 9 tweets
12 Jun
0/ Nothing pisses me off more than Lawyers ripping Founders off when putting investment docs together.

The worst part is most Investors aren’t helpful - 85% push the bill to Founders.

As an ex-lawyer, I saw all the inside tricks.

Here's how to reduce your legal bill by 90%:
1/ First, it’s important to understand how lawyers make $.

A legal bill has nothing to do with the end deliverable.

Wait what? That’s right. Lawyers make money via the billable hour.

Regardless of quality, you get charged based on how many hours the lawyer(s) spent with you
2/ The second cost variable is hourly rate.

Hourly Rate is a function of seniority of the lawyer you are working with.

Why is this important? Because the hourly rates go up FAST at top law firms.

Junior Associates = ~$400/hr
Senior Associates = ~$1000/hr
Partners = $1000+
Read 13 tweets
12 May
0/ I quadrupled down on angel investing this past year and have invested $1M in 20 companies.

In the process, I’ve learned what feels like 5 years worth of lessons.

Here are my 10 biggest takeaways for anybody interested in angel investing:
1/ Ownership reality > ownership mindset.

The earlier you think of yourself as an investor, the better.

Investing in startups is a cheat code to participating in the future with asymmetric upside.

Worst case, you lose 1x your money; best case you 1000x it.
2/ Investing breaks down into 3 phases:

I. ACCESS: Did I see the company?
II. JUDGEMENT: Did I say yes?
II. VALUE: Did they say yes?

You need to be good at all 3 to get a deal done.

Figure out where you're weak / strong. Each requires a slightly different skill set.
Read 12 tweets
5 May
Raising money for startups is wild right now. I’ve never seen anything like it.

Lots of Founders are wondering how to approach it and who they should partner with.

Here are 10 observations / practical tips I've shared with 100+ Founders in the last few months 👇👇👇
1/ If you’ve got the hot hand, take the shot.

At some point the music will stop.

Until then, there’s $1T+ sitting on the sidelines looking to be put to work.

If you are showing strong traction, there’s never been a more "Founder Friendly" time to raise capital.
2/ If you don’t have a hot hand, it’s tough out there

Huh? You just said there’s a bunch of capital sitting on the sidelines.

Yes, BUT it’s reserved for the best deals.

In 2020, $50B+ was deployed into tech (all time high), but only 3.3k deals got done (lowest in 8 years).
Read 13 tweets
29 Apr
0/ Breaking: Shopify Q1 earnings are out. They're BANANAS

In Q1, $SHOP had

- GMV: $37B (+114% YoY)
- Revenue: $988M (+110% YoY)
- Gross Profit: $559M (+117% YoY)
- Operating Income: $118M (vs. -$73M last year)

Here are the takeaways / how to put these numbers in context👇
1/ First, let’s define how SHOP thinks about their business.

Everything boils down to 3 components: (1) Merchants, (2) Partners / Capabilities, (3) GMV.

⬆️merchants with ⬆️capabilities drives ⬆️activity.

This is what Shopify means when they say they're “arming the rebels”
2/ Financial metrics are all growing fast (at 100%+ YoY), but the better way to think about the SHOP is by looking at how fast it’s growing its ecosystem.

- Financials are a TRAILING indicator of the business.

- Ecosystem is a LEADING indicator of the business.
Read 12 tweets

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