Max Koh Profile picture
22 Sep, 10 tweets, 3 min read
You don’t need to be the best. You just need to be different.

Instead of trying to be the best at one skill, aim to be decently good at several skills and combine them.

I learnt this from @ScottAdamsSays years ago and it’s fast-tracked my career and income.

Here’s why:
1/ Build your own personal monopoly

Monopoly = a niche that you can dominate.

In most companies, there will usually be somebody else who can do what you do. You're replaceable.

By mastering several skills and combining them, you become the only person who can do A+B+C.
This makes it hard to put you in a bucket.

While there are many who can do either A or B or C, you are the only one who can them all.

Because of this, there is no price anchor or comparison.

You can set your own value and it gives you leverage at the negotiation table.
2/ Good + Good > Excellent.

You may not be in the top 1% of a specific skill. But you don’t need to be.

Simply by being above average in several skills, you’re able to combine them to create something novel.

It makes you hard to copy, and almost impossible to compete with.
That's when 1+1 = 3.

By having multiple skill sets, you’re able to expand your opportunity set too.

This opens more doors for you. You have choices.

And the more swings you take in business and life, the higher your chances of hitting a home run.
3/ Opportunity cost of time

It’s a known fact that most of us can get decently good at most skills by spending a few months focusing on that.

But to go from above average to the top 1% in the world in that domain?

That requires possibly 100x more effort.

Good news...
You don't need that level of intensity.

Olympic athletes train like crazy just to shave off an extra second from their race times.

The difference between 1st and 3rd place on the track could be minimal.

But most of us are not in the business of winning gold medals.
Hence we can make better use of our time to widen our arsenal of skills.

This allows us to:

• spend less time
• increase our market value
• widen our circle of competence

It’s also a more exciting way to live as we expose ourselves to many different domains.

1. Build your own personal monopoly

2. Good + good > Excellent

3. Opportunity cost of time

Now, go build your talent stack.
If you found these useful, follow me here at @heymaxkoh

I share my personal journey as a 9-5 worker who's been able to:

• Develop high income skills

• Increase my earning potential, exponentially

• Grow my wealth by owning high quality stocks and businesses

• • •

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More from @heymaxkoh

20 Sep
Best of Josh Tarasoff

@joshtarasoff is an investor who looks at businesses with a different coloured lens.

Knowing he wants to stay low key, I'm grateful he gave me the green light to write about him.

Here's my top 5 mental models from his interviews & letters over the years: Image
1. Bet on change instead of consistency

Classic Buffet: are people going to buy this product 50 years from now? Are people still gonna drink coke?

However, what I learnt from Josh is some types of changes can be predicted with more certainty.

a) Win win win

b) Dual value prop
Win Win Win

When there's a new way of doing things that benefits multiple parties, that change is more certain to endure.

Josh gives the example of Pet insurance benefiting:

• Pet owners (pay less $$)
• The vet (makes more $$)
• The pet itself

The ecosystem fluorishes.
Read 19 tweets
10 Sep
Everytime I see an interview with Fred Liu of @HaydenCapital, I grab my notepad.

The interview that Tilman from @goodinvestingc did with Fred last month had so many investing nuggets.

I took time to transcribe it personally so I wouldn't miss anything. Here's a few lessons:
1/ The importance of being a student of business models to develop pattern recognition:

"All investing is pattern recognition - you need to look at enough data points and patterns to formulate your own idea of what works and what doesn't, and how businesses/ ecosystems develop"
- Constantly deep dive on new businesses I may not have any intention of owning

- The more mental models I can accumulate, the easier it is for me to spot patterns in future

- Opportunities appear as a result of connecting the dots based on what I researched previously
Read 15 tweets

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