Scott Adams (the Dilbert guy) on how to be successful

Dilbert: Follow Your Passion

Scott shares a very honest and modest story of his own success over at the WSJ.

1. Don’t “follow your passion”

When I was a commercial loan officer for a large bank, my boss taught us that you should never make a loan to someone who is following his passion. For example, you don’t want to give money to a sports enthusiast who is starting a sports store to pursue his passion for all things sporty. That guy is a bad bet, passion and all. He’s in business for the wrong reason.

Cal Newport explains why the phrase is a modern phenomenon.

2. Success drives passion, not the other way around

Dilbert started out as just one of many get-rich schemes I was willing to try. When it started to look as if it might be a success, my passion for cartooning increased because I realized it could be my golden ticket. In hindsight, it looks as if the projects that I was most passionate about were also the ones that worked. But objectively, my passion level moved with my success. Success caused passion more than passion caused success.

3. Systems are more powerful than goals

If you achieve your goal, you celebrate and feel terrific, but only until you realize that you just lost the thing that gave you purpose and direction. Your options are to feel empty and useless, perhaps enjoying the spoils of your success until they bore you, or to set new goals and re-enter the cycle of permanent presuccess failure.

4. Failed? Don’t just get stronger…get smarter

I do want my failures to make me stronger, of course, but I also want to become smarter, more talented, better networked, healthier and more energized. If I find a cow turd on my front steps, I’m not satisfied knowing that I’ll be mentally prepared to find some future cow turd. I want to shovel that turd onto my garden and hope the cow returns every week so I never have to buy fertilizer again. Failure is a resource that can be managed.

Scott ends by sharing anecdotes of his own failures, including a big investment in Webvan, which he subsequently increased just a few weeks before it declared bankruptcy. What did he learn? Diversify your investments. And never listen to company management.

Wonderful article. Please read it. See my linkblog for a stream of articles that I’m reading.

18 more startup reads (for the 101 series: Seed Fundraising, CEO, Mistakes & Failures, and Hiring)

Here are the 101s published to date:

Here were my favorite new links for each 101:

Being a CEO: Reid Hoffman’s If, Why, and How Founders Should Hire a “Professional” CEO

To be a successful growth-stage CEO, you need to be ready to manage a 1,000 person organization and devote substantial time to time consuming things like running meetings and other business process. You can’t just do the exciting stuff like making the final call on product and speaking at conferences, while shuffling off everything else to the mythical COO who loves doing all the dirty work and doesn’t want any of the credit.

Hiring: Marc Andreessen’s How to hire the best people you’ve ever worked with

Ethics are hard to test for. But watch for any whiff of less than stellar ethics in any candidate’s background or references. And avoid, avoid, avoid.

Mistakes and Failures: Rand Fishkin’s 7 Unlikely Recommendations for Startups & Entrepreneurs

There’s nothing wrong with finding a great technical co-founder, but there’s a lot wrong with finding a mediocre one, or one who doesn’t work out long-term and creates a messy situation for the fledgling business. One bit of advice that everyone gives that I agree with is that choosing a co-founder must be like choosing a marriage partner – and its breakdown can often spell the end of the company.

Seed Fundraising: Fabrice Grinda’s A SuperAngel’s Investment Guide

An email update or a 5-10 minute phone call once in a while is more than enough to get a sense of how the business is doing. Moreover, rather than having structured times to talk, it’s much better to be available punctually whenever the entrepreneur needs help. This works better for me given it takes less absolute time and is better for the entrepreneur because they get the help they need when they need it. I sometimes don’t talk to an entrepreneur for 6 months or more, but then end up spending a lot of time with them discussing a term sheet they might have received if they are fund raising, etc.

We’re almost to 70 lessons for the 1-Read-A-Day newsletter. Once I reach 100, my next goal is to publish the first edition of the Startup Textbook – based 100% on curated content that I summarize and organize.

10 great articles – Kevin Kelly’s The Third Culture, Mark Manson on India, Jesse Plemons and more

Check out my new linkblog. It includes every article I’ve read in November, with highlights. It’s a neat conversion of my public Evernote notebook, and I’ll be using it to share what I’m reading.

Recommended reads:

  • Mark Manson (the PostMasculine guy) on happiness. Great insights
  • Reid Hoffman’s cups of water metaphor to understand business strategy
  • Buffer explains why 8-hour days are no longer relevant
  • These monks must complete a 1000-day, 7-year challenge which includes running 52 miles/day for 100 straight days. And if they fail? They commit suicide…
  • Mark on the chaos and poverty he experienced in India. Oddly, now I want to go
  • Kevin Kelly describes a third culture, driven by technology and not traditional science or art
  • How could I not include Murakami’s new short story? Here, his protagonist wakes up to discover he has become Kafka’s Gregor Samsa in a reverse-metamorphosis
  • Thanks to Dan, fascinating Reddit thread (among many)
  • Todd Alquist (played by Jesse Plemons) was one of the most interesting storylines from Breaking Bad’s final season
  • Reid Hoffman’s entire Series B fundraising deck for LinkedIn (which raised $10mm from Greylock); here are my notes

November Quotes: “I am the one who knocks.” – Walter White in Breaking Bad

Tucker Max’s monthly quotes post is full of gems.

A CEO’s job is to interpret external realities for a company – A. G. Lafley

Courtesy of Venkatesh Rao, whose writing will change your view of human nature and how you interpret motivation and behavior. Powerful, powerful stuff.

The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man. – George Bernard Shaw

Ironic.

You ok? – Butch
No, man. I’m pretty far from okay. – Wallace

A great movie reveals itself in layers. You notice beautiful new details with every viewing.

Only men need to be loved, sweetheart. Women need to be wanted. – Gemma to Nero

Yes, I streamed all 5 Sons of Anarchy seasons. As a friend told me, sometimes you want steak, and other times you just want McDonald’s.

The aim of every artist is to arrest motion, which is life, by artificial means and hold it fixed so that a hundred years later, when a stranger looks at it, it moves again since it is life. Since man is mortal, the only immortality possible for him is to leave something behind him that is immortal since it will always move. This is the artist’s way of scribbling “Kilroy was here” on the wall of the final and irrevocable oblivion through which he must someday pass. – William Faulkner

Definition of happiness […] is the moment before you need more happiness. – Don Draper

Dr. Drew says something similar. That if you want to know happiness, look at a heroin addict.

I am not in danger, Skyler. I am the danger. A guy opens his door and gets shot and you think that of me? No. I am the one who knocks! – Walter White

I wonder why they use “of me” and not “is me”.

Tomorrow may be hell, but today was a good writing day, and on the good writing days nothing else matters. – Neil Gaiman

If you’re new to Gaiman, I recommend reading Graveyard and How To Talk To Girls At Parties.

It doesn’t matter how you get knocked down in life; that’s going to happen. All that matters is you’ve got to get up. – Ben Affleck (Oscar acceptance speech for Argo)

The best lovers do not have the best bodies. They are not the best-looking, and they do not have the largest respective body parts. What they do have is the best attitude: they are completely enthusiastic. – Lou Paget

[When Vonnegut tells his wife he’s going out to buy an envelope] Oh, she says, well, you’re not a poor man. You know, why don’t you go online and buy a hundred envelopes and put them in the closet? And so I pretend not to hear her. And go out to get an envelope because I’m going to have a hell of a good time in the process of buying one envelope. I meet a lot of people. And, see some great looking babes. And a fire engine goes by. And I give them the thumbs up. And, and ask a woman what kind of dog that is. And, and I don’t know. The moral of the story is, is we’re here on Earth to fart around. And, of course, the computers will do us out of that. And, what the computer people don’t realize, or they don’t care, is we’re dancing animals. You know, we love to move around. And, we’re not supposed to dance at all anymore. – Kurt Vonnegut

I love how Vonnegut writes. A style and voice so crisp, memorable, and yet completely unique. Good writers follow the rules. Great writers know when to break them, to beautiful effect.

My complete list of quotes is here.

The Evan Williams formula for getting rich online

Evan WilliamsFrom a Wired review of an Evan Williams speech.

The main point: Stop creating things cause they’re new and cool. Instead, find something everyone OBVIOUSLY wants, see how they’re currently getting it, and make it easier, faster and cheaper.

…the internet is “a giant machine designed to give people what they want.”

Williams created Blogger and Twitter and will be a billionaire soon…so he knows how to give people what they want.

“We often think of the internet enables you to do new things,” Williams said. “But people just want to do the same things they’ve always done.”

The Internet will become a digital representation of the real world. If you carry that thinking far enough, we may cease to exist as physical organisms (see Tron).

Increasingly, everything that happens and everything we do, everyplace you go and check in, every thought you have and share, and every person who liked that thought… is all connected… and it keeps multiplying relentlessly.”

The Internet is about convenience, and convenience is speed and “cognitive ease”.

In other words, people don’t want to wait, and they don’t want to think — and the internet should respond to that.

See Google (finding things), Amazon (buying things), Apple (communicating things), and Facebook (also communicating things?).

The key to making a fortune online […] is to remove extra steps from common activities as he did with Blogger.

See also Uber (getting somewhere). Chris Sacca calls it closing the loop.

The Internet is not utopia. It’s more like…modern agriculture:

“[Agriculture] made life better. It not only got people fed, it freed them up to do many more things — to create art and invent things.”

Modern agriculture has downsides (eg, animal abuse, overeating, environmental damage) and so does the Internet (eg, mental health, media addiction).

A Dave McClure quote sums it up:

“Great companies do 1+ of 3 things: Get you LAID (= sex). Get you PAID (= money). Get you MADE (= power)”