190. Hack your way to mediocrity

#MakingBetterDecisions, #Goals,?#ComplexAdaptiveSystems, #Wealth, #Careers

“the perils of chalta hai and that enemy of excellence, jugaad.” – Harsha Bhogle

About 5-6 years ago, in one of our yearly Strategy offsites with my last employer, we had Harsha Bhogle, a noted cricket commentator, as a special invite. In his talk, he said something that shook me out of my lethargic stupor. He said “Jugaad is the opposite of excellence”. This event was done at a time when “jugaad”, i.e., hacks, were all the rage. At that time, I myself become only recently acquainted with the concept of “life hacks” through a popular TV program that our family used to watch regularly. Was that program called “Hacking the System” – I don’t recollect any more. At that time, i.,e., years leading to and during COVID-19 pandemic, “Life hacking” somehow became a rage and almost a badge of honour for people who adopted them. And there I was, thinking that hacking was only about finding ways around computer systems, generally with a nefarious intent.

To be sure, here is what I mean by hacking: A hook or crook method that helps you to get through a situation; Hacking is generally not methodical and has one-time or limited-time application.

“When solving problems, dig at the roots instead of just hacking at the leaves.” - Anthony J. D'Angelo

Over-reliance on hacks may limit you from developing a systematic approach to achieving your objectives. Hacking may be efficient in the short term but could be severely limiting in the long term. To give you an example, consider these two ways of preparing for a final exam. 1. You could analyze question papers of the last ten years and figure out the pattern of question paper. Then focus your preparation on chapters from which questions are expected and also mostly on the types of questions that have generally been asked in the past. 2. Another way to prepare is to be diligent throughout the semester. Attend all the classes, make notes during classes, complete the assignments and prepare well for the tests. Both these methods can help you clear the exam with flying colours. In the second method, however, you will end up retaining your learning for longer.

“If you cannot do great things, do small things in a great way.” —?Napoleon Hill

Hacking surely has its place. All of us face situations in life where we may not have the luxury of time or energy for excellence. Your only resort may be to hack away. It is my belief (and certainly an abiding operating principle of my life) that sustainable progress can be achieved only on the back of quality/excellence.

In complex situations, where all kinds of unforeseeable impacts could arise from all directions, hacking may actually be counter-productive. What may seem like a sensible hack may get undone by any unforeseen factor. In those situations, your reliable recourse is to keep plugging away by following applicable, preferably simple, best practices. When you are stuck in a traffic jam, it may be tempting to force yourself into any tiny gap that may arise in the adjoining lane, but there is no telling if that lane will continue to move. A better approach is to stick to your lane and instead focus on reducing your angst by listening to radio or talking to your co-passengers.

You may have come across a friend, family member or a colleague who, upon following a special diet program, was able to lose significant weight in a short period of time, say, 3-6 months, only for them to regain most of it soon after. Dieting is no doubt the best ROI method to manage weight but only suitably ‘balanced’ diet practices get you to the right weight and also help you keep that weight. While on this topic, “right weight” and “high quality/excellence” – both are subjective qualities. I can’t imagine there being one set of universal benchmarks for them.

“It may be satisfactory, but that's another word for mediocrity.” ―?David Goggins

One common theme in many of my articles is the unfathomable power of compounding. Naval Ravikant says it best when he says “All the returns in life, whether in wealth, relationships, or knowledge, come from?compound interest.”. Well, hacking is the antithesis of compounding. Hacking inhibits you from taking advantage of compounding.

I find most trading techniques in stock markets are akin to hacks. It is my belief that in the long run, true wealth can be created by taking stock positions in high quality companies, at reasonable prices and then, riding out a number of “fear and greed” waves that inevitably follow. Hacks such as trying to time markets (trading) and capital gains tax harvesting are to be used only sparingly – surely, not as primary modus operandi.

Bottomline

“I thought I’d solved a problem when really I was creating new ones by taking the path of least resistance.” ―?David Goggins

Hacking can be very valuable. In fact, without a “hacking” mindset, I’m not sure how much one can progress. World is too complex and messy for “best practices” to always work. Ability to hack your way through this messiness can be invaluable arsenal in your armoury. Hacking may become a problem only when it is taken too far. Like all valuable things, they remain valuable only when used within limits. “Hacking mindset” can interfere with quality. It may offer immediate progress at the cost of long-term potential. Hacking tends to leave messy trails. It inhibits you from developing mindset to build methodical, repeatable practices and consequently limits you from developing a ‘compounding’ mindset.

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