Max Koh Profile picture
12 Oct, 17 tweets, 4 min read
This is Bill Walsh.

He was the head coach of the San Francisco 49ers.

He was famous for teaching the team's receptionists how to answer the phone properly.

Here's 12 leadership lessons I learnt from him:

Thanks to @rabois for recommending it in many of his podcasts.
1. Sweat the little things

How the players dressed and the appearance they gave to others when taking the field was very important.

I wanted our football team to look truly professional—impeccable.

Thus, shirttails tucked in, socks up tight, and more were requirements.
2. Respect the team

Players were told their practice helmets, which carried our emblem, should never be tossed around, sat on, or thrown in the bottom of their lockers:

“Wear it, hold it, or put it on the shelf in your locker.”

It represents who you are and what you value.
3. Go in wanting to win. But expect defeat. It keeps you humble.

Do expect defeat. It’s a given when the stakes are high and the competition is working ferociously to beat you.

If you’re surprised when it happens, you’re dreaming; dreamers don’t last long.
4. Focus on processes

I directed our focus less to the prize of victory than to the process of improving - that is, our actions and attitude.

I knew if I did that, winning would take care of itself, and when it didn’t I would seek ways to raise our Standard of Performance.
5. Hire managers who support your culture. Makes your job easier.

I began hiring personnel with an eagerness to adopt my way of doing things.

These included assistant coaches I was very familiar with - to install and nurture my organizational values and philosophy.
6. Team above everything else

The trophy doesn’t belong just to a superstar quarterback or CEO, head coach or top salesperson.

And this organizational perception that “success belongs to everyone” is taught by the leader.

Likewise, failure belongs to everyone.
7. Teach your team to demand a lot of themselves, and their peers

When you know that your peers—the others in the organization—demand and expect a lot out of you and you, in turn, out of them, that’s when the sky’s the limit.

It has a transformative effect.
8. The leader's job is to facilitate camaraderie

The leader’s job is to facilitate a battlefield-like sense of camaraderie among his or her personnel.

To care about one another and the work they do, to feel the connection and extension so necessary for great results.
9. Be professional

There was no showboating allowed after touchdowns, no taunting of opponents, no demonstrations to attract attention to oneself.

Because one individual shouldn’t take credit for what our whole team had done.
10. Culture precedes positive results

Players began acting in a way that reflected pride and professionalism, even as we continued to lose games.

Champions behave like champions before they’re champions;

they have a winning standard of performance before they are winners.
11. Create a first class environment

In a way, an organization is like an automobile assembly line; it must be first class or the cars that come off it will be second rate.

The exceptional assembly line comes first, before the quality car.
12. The score takes care of itself

I had no grandiose plan for winning a championship, but rather a comprehensive plan for installing a level of proficiency in all areas, both on and off the field.

Beyond that, I had faith that the score would take care of itself.
All the above lessons were taken from Bill Walsh's book:

"The Score Takes Care of Itself"

This book has helped me become a better leader and General Manager in my company.

It taught me to mind the little things.

And to always hold myself to a high standard.
Recap of 12 lessons from Bill Walsh:

1. Sweat the little things
2. Respect the team
3. Go in wanting to win. But expect defeat.
4. Focus on processes
5. Hire managers who support your culture.
6. Team above everything else
7. Demand a lot of themselves, and their peers
8. The leader's job is to facilitate camaraderie
9. Be professional
10. Culture precedes positive results
11. Create a first class environment
12. The score takes care of itself

Jump back to the top and Retweet this so you can find it easily:
If you found this helpful, follow me at @heymaxkoh

I share my journey of how I attained financial freedom before the age of 30 by:

• building my leadership skills as a General Manager in my 9-5 job

• investing in great businesses.

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More from @heymaxkoh

13 Oct
15 Investing Lessons from Yen Liow:

Based off his recent presentation at the MicroCap Leadership Summit 2021.

*Hint: You do NOT need to find 100 baggers to create great wealth.

Thanks to @yliownyc for the value bombs.

And to @iancassel for organizing this.
1. True compounders are rare. Hold on tight when you find one

Over last 20 years, of all the US listed companies with market cap over $2B:

Only 14% of them have have compounded at more than 20% for 5 years.

And only a tiny 3% have compounded at more than 20% for 10 years.
2. Strategy - find horses

Horses are monopolies and oligopolies that compound EPS at 2-3x the broader market for long periods of time.

True north: Over time, stock price and intrinsic value will converge.

So find businesses that can show durable growth in FCF or earnings.
Read 21 tweets
13 Oct
Will you feel happy when you finally quit your 9-5 job and never have to work again?

Here's why that may NOT happen:
3 reasons:

1. Rich is about finding fulfilling work

2. We need to "struggle" for something

3. The same traits that helped you retire early will make you unhappy when you actually do retire early.

Here's my story...
I recall that day mid of 2020, when I hit my own version of financial freedom.

It's been a day I've been waiting for my whole career.

When my portfolio crossed a certain amount of net worth.
Read 16 tweets
12 Oct
Why do people get stuck in the rat race with a job they can't quit?

The answer has to do with the "Fear and Greed" cycle:
I recently had a chat with a friend over dinner...

She was telling me how she goes to work everyday out of fear.

Because she's worried if she stops working, she won't have money to pay the bills and put food on the table.

She's driven by fear of not having enough money.
So that forces her to wake up everyday and go to work at a job she doesn't like.

But it doesn't stop there.

It only gets worse because of this other emotion known as "Greed".

How does that come about?
Read 10 tweets
11 Oct
Richer, Wiser, Happier.

This has been my favourite investing book of 2021.

Here's 20 of my favourite quotes and lessons:

Thank you @williamgreen72
1. Bet big but infrequently

You have to be like a man standing with a spear next to a stream. Most of the time he’s doing nothing.

When a fat juicy salmon swims by, the man spears it. Then he goes back to doing nothing. It may be six months before the next salmon goes by.
2. Read a lot + Patience

How long can he go without buying? “Oh, I can wait ten years—even longer,” Chou replied.

In the meantime, he studies stocks that aren’t cheap enough to buy, hits balls at a golf range, and reads two hundred to four hundred pages a day.
Read 26 tweets
10 Oct
Investing & Meditation. My true short story:

I come from a Buddhist family. 2 of my aunts were ordained as Nuns in their early 20s. That's how deep and serious this runs in my home.

I was taught how to meditate at age 4. Focus on breathing. Watch my thoughts.

I hated it.
As a kid, I couldn't sit still. I had a "monkey mind" as they called it.

The adults kept encouraging me to meditate. But I was a rebellious teen.

Fast forward to today, I have been meditating without fail for almost 15 mins every morning. Since Jan 2019.

What changed?
I started investing more seriously.

Started putting more of my money into high growth stocks, and the volatility and draw downs made me realize how weak and frantic my mind was.

Out of panic, I started meditating seriously to learn how to center myself.

What's the lesson?
Read 4 tweets
9 Oct
Friend of mine borrowed a fair sum of $$ from the banks in the march 2020 covid crash. Even took on leverage.

Best time to buy stocks, he said.

He even built a financial model on excel to understand his downside.

No issue.

But a few weeks later, he sold them all.

He told me:

“When the 2nd circuit breaker hit and the market fell further, I took a double look at my excel model.

I could still take further drawdowns and be ok.

But when I picked my 5 year old daughter up from school that day, I started to panic...
“Am I making the right decision, I wondered?

What if something happens that I didn’t expect?

I wouldn’t be able to give her the life I promised I would. “

Few days later, he sold all his stocks.
Read 4 tweets

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