Day #74 Grayleap Reading Challenge #Habits #Blitzscaling
1) Daizy Patel reviews the 15th chapter of the book "Atomic Habits" (Author, James Clear)
Chapter 15 - The cardinal rule of behavior change
The author takes the help of examples to prove the point that sometimes we all know what we should do, but we do not follow that thing. Hence, the problem isn’t knowledge, the problem is consistency.
The 4th and final law of behavior change is "make it satisfying."
For instance, toothpaste brands introduced various flavors to make brushing a pleasurable experience. Wrigley revolutionized the industry by adding flavors like spearmint and juicy fruit, making the product flavorful and fun to use.
The point is that what is rewarded is repeated, and what is punished is avoided. So if we can make anything which is a beautiful experience for anyone, there are chances that they will again do the same thing.
The mismatch between immediate and delayed rewards
In this part of the chapter, the author has talked about a very peculiar human trait: we want immediate results. The results that are delayed are not so satisfying, so sometimes we prefer to make choices based on short-term results or pleasures instead of long-term goals.
The author gives an example of smoking. Smoking has a negative impact on our health over the long term, but in the short term, it fulfils our needs and makes us feel good. Hence, despite being aware of its effects in the future, most of the time, people?adopt it to fulfil their present needs.
The author says that the road less traveled is the road of delayed gratification, and as the saying goes, the last mile is always the least crowded. Further, he explains that it’s possible to train ourselves for daily gratification, but we need to work with the grain of human nature and not against it.
To support this view, here is an example - if you want to stop eating outside food, you can start cooking, and you can save the same amount for some other purposes.
When you skip going out, you transfer some money to something else, which serves a dual purpose: first, the immediate one that you are taking care of what you want, and second, attempting to establish a habit.
The other is the future vision because you saved something for something else, which is a long-term result. Incentives add identity and sustain a habit.
To sum up, a habit needs to be enjoyable for it to last. Simple reinforcement can provide instant gratification for you to enjoy a habit, and change is easy when it's enjoyable.?
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2) Amarendra S. continues his review of Part 3/6 of the book "Blitzscaling" (Authors, Reid Hoffmann & Chris Yeh)
HOW BLITZSCALING STRATEGY CHANGES IN EACH STAGE
Blitzscaling stages can be seen in several ways:
a) Family and Tribe Stage (up to 100 hundred employees): With limited resources, moving faster than others is challenging, unless
(1) there is no competition (rare),?
(2) you are the first mover with a "brilliant growth strategy", or?
(3) You are more determined, differentiated, and resourceful than others.
As per the authors, the ability and confidence to execute the 3rd scenario above would mean:
"This kind of confidence manifests itself in being more aggressive about fundraising, hiring, and infrastructure investment ... the downside is that the cost of failure is much higher... ."
Further:
"But this additional cost can be dwarfed by the potential benefits of achieving first-scaler advantage in a valuable winner-take-most or winner-take-all market."
Next, let us look at the "Village" stage of blitzscaling.
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