Bootstrapping Your Dreams Show

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#227 How to not get distracted | Nir Eyal | Manuj Aggarwal Jul 30, 2021

Show notes

Highlights

0:01- The problem is no longer that we don't know what to do. The problem is we don't know how to stop getting in our own way. We don't know how to stop getting distracted.

0:09- Conventional wisdom turns out not only to be wrong but turns out to be actually harmful.

0:13- And so this is why our self-image is so important that if we believe that we are limited in one way or another, we will act according to those beliefs.

0:23- This is called learned helplessness. And so that's what we need to understand that the way we talk to ourselves, the way we imagine and perceive our temperament around our limitations, is incredibly important

0:38- Again, you can't call something a distraction unless you know what it distracted you from

(1:09) Introduction:

Nir Eyal writes, consults, and teaches about the intersection of psychology, technology, and business.

Nir previously taught as a lecturer in marketing at the Stanford Graduate School of Business, and Hasso Plattner Institute of Design at Stanford, Nir co-founded and sold two tech companies since 2003.

And was dubbed by MIT Technology Review as the profit of habit-forming technology.

He's the author of two best-selling books. Hooked: How to build habit-forming products and Indistractable- how to control your attention and choose your life.

Indistractable, received critical acclaim winning outstanding works of literature, literature OWL Award as well as being named one of the best business and leadership books of the year by Amazon, and one of the best personal development books of the year by Audible.

The Globe and Mail called indestructible, the best business book of 2019.

In addition to blogging at nirandfar.com, Nir’s writing has been featured in the New York Times, the Harvard Business Review, Time magazine, and psychology today.

Nir is also an active investor in habit-forming technologies.

Some of his past investments include event pride anchor.fm, which was acquired by Spotify, Canva refresh.io, which was acquired by LinkedIn product and Marco Polo presence learning, seven cups, and many more.

Nir has attended Stanford Graduate School of Business and Emory University.

(2:55)

So tell us a little bit about your new book Indistractable, how did it come about and what is the theme of this book?

(3:04) The book Indistractable is about Nir's struggle with distraction. There was one moment in his life that made him reevaluate his relationship with it. He shares that experience that made him realize how distracted he must have been while eating or even while working on a task. Nir says the problem is no longer that we don't know what to do. The problem is we don't know how to stop getting in our own way. We don't know how to stop getting distracted. He shares how he was able to figure out the solution to prevent getting distracted after immersing himself in studying psychology.

(6:25)

You do very thorough research on every topic that you undertake. So tell us about that, like, you know, how do you come up with that process? How do you even start researching this, if nobody has done a good enough job of doing this, you're breaking new ground? How do you go about doing all this?

(6:57) Nir says that to him every book starts with a personal problem. He shares that it’s the reason why he loves his job,

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#226 Ten crucial aspects you need to consider before considering and implementing a new business strategy Jul 28, 2021

Show notes

(0:56): Aspect number 1 - Evaluate if you're ready for a change in business strategy.

One of the most important things to consider is if you're actually ready to make a change. The professional world presents us with a lot of chances to learn and grow, but it's important that you have the mindset (and network) to take advantage of those opportunities.

(2:00): Aspect number 2 - Figure out the root cause of the problem and fix it.

A business needs a lot of different things to go right for it to continue to grow. If a few things go wrong, it can still grow. But it will take an incredible set of circumstances to get there. So you need to identify the root cause of the problem and plan a strategy to fix it.

(3:12): Aspect number 3 - Make sure that your new business strategy has a positive ROI.

Your business goals should be such that the expected return on investment (ROI) is high. The higher the ROI, the more likely it is that you will succeed. When planning a new strategy, determine if this business plan will bring a high return on investment.

(4:02): Aspect number 4 - Make sure that your new plan complements your existing strengths.

An important aspect of selecting a successful new strategy is identifying which core strengths your company already has. While your new strategy may help you to differentiate yourself from your competition, it will not help you fundamentally change the way you do business.

(5:52): Aspect number 5 - Create a game plan before you start implementing the strategy.

A plan gives you a clear picture of how you will reach your goals, and it helps prevent you from making poor decisions. If the plan is clear, then mistakes are less likely to be made, and you’ll be more likely to get the results you want. Once you have a plan, implement the strategy.

(7:11): Aspect number 6 - Make sure to consider your budget while implementing a strategy.

While an incredible business plan can propel you to success, having the right financial roadmap can ensure your success. Budgeting will help reduce your stress when implementing any new business strategy or change in work routine.

(8:22): Aspect number 7 - Consider the risks of implementing a change in strategy.

Every time you implement a new strategy, in any area of work or life, there's going to be some risk. So, before you implement a new strategy in your business, it's important to consider risk. Chances are that the payoff will be worth the risk - but sometimes not.

(9:14): Aspect number 8 - Make sure the new strategy is not too overwhelming and is realistic.

Every business must have a strong and clear strategy but if you want a new strategy to be successful, make sure it's not too demanding and it's attainable. If your new strategy is too demanding, it will not be attainable. If it's not attainable, you won't be able to follow it.

(10:55): Aspect number 9 - Set a cutoff point and know when to give up on a strategy.

When you're planning a new strategy, you also need to decide how long you'll wait before you give up. This is called your cutoff point. It's important to be realistic and objective about how much time and money you have available to try something new.

(12:02): Aspect number 10 - Be transparent with your customers about the new strategy.

As an entrepreneur, you never know when you might have to change your business direction. But it's important to hold off on implementing those changes until you have talked with the people who matter most in your business - your customers and clients.

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#225 The secret to building lifelong customer relationships | Jeff Moore | Manuj Aggarwal Jul 23, 2021

Show notes

Highlights:

(00:01)- But if we find ourselves spending more time, you know, chasing things that are not there, then we're taking time away from the customers that want to do business with us.

(0:15)- I also have a saying, and this is really the saying that was born in the Thursday night boardroom, and that is learn to teach, teach, to know, know, and share, and do with passion.

(0:28)- We all share the same frustration. Yeah, we don't feel understood.

(0:35)- The connection that you have with someone you know, feels that you understand them and get them and they're comfortable with you. Because if that's not established, all the messaging in the world won't matter.

(0:48)- I don't believe it's a game-changer. I believe it's an accelerant.

(0:51)- There is going to be no back to normal. There's going to be a new normal. Yeah. But and but you know what, we're going to also recognize human interaction.

(1:30) Introduction to Jeff Moore

Jeff is the director of seafood and business and business development at the Global Protein Group.

In 2019, Global Protein Group, the foodservice and custom products solution division of Porky products, was one of the largest traders of beef, beef, pork, and poultry in North America generated about $2 billion in sales.

Jeff is known for short-term, short-term sale cycles, the high comes convergence, value base, quantifiable Business Solutions, team building, and world-class lifelong customer and supplier relationships.

Jeff is the founder of Business Development, marketing, and entrepreneurial lifestyle, and business advisory mastermind group called Thursday night boardroom, and over 800 members from 26 countries from different industries have been part of this group.

Jeff is an experienced leadership coach, Speaker F is also the creator of multi-layer Strategic Initiatives involving suppliers and customers in tandem, that share a common language called value.

Interview questions-

(3:38)

So can you tell us how you got started? What is your journey like in the business world?

(3:58) Jeff talks about how he started from making $300 a week. His family bought a seafood company and in 14-15 years they started making sales of 35 million. He shares that he was invited to the original Tony Robbins, the ultimate business mastery summit in about 2009. Jeff talks about the beginning of the ‘Thursday night boardroom’. He also recalls how watching Gary Vaynerchuk keynote at the ultimate business mastery summit changed their lives.

(11:08)

You keep pushing yourself. So what is that drive that pushes you?

(11:37) Jeff talks about what drives him and pushes him forward is the acknowledgment. He shares that doing what you love matters but acknowledging that there's going to be another level that matters the most. He is reminded of the best leader he has ever worked for and tells about a significant thing he said that made a huge impact on him. He said it's about wanting to get to another level.

(14:26)

You treat the business as an extension of life. Like most people say, Oh, you know, I'm going to a nine to five and I'm, I'm done but, you know, you like to complete the whole package and you encompass life and business and, and family. So tell us a little bit more about that. Where did that concept come from?

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#224 The ultimate customer acquisition strategies Jul 16, 2021

Show notes

Show notes-

(0.26) How companies like Alibaba and Amazon acquire popularity-

Companies like Amazon, Alibaba have achieved massive scale. How did they acquire all those customers? How do they keep growing their customer base, and how do they get the customer to buy from them again, and again? Here’s how they do it-

(1.20) Point 1- They shorten the consumer shopping time.

These companies have realized that you'll be more likely to buy a product when it's convenient. So they use technologies like artificial intelligence, data mining, and machine learning to help them predict the products you'll like. They then make it very convenient for you to look at the product, select the product, and checkout.

(2.39) Point 2- They offer low price products along with convenience.

Companies like Amazon and Alibaba realize consumers are often driven by price. Price is one of the most important factors when it comes to consumer behavior. They realized that consumers are very price-conscious. So, they source from many different sources and present the best prices.

(3:38) Point 3- They make accurate product recommendations.

When recommending a product, Amazon and Alibaba take into account all aspects of a customer's profile to maximize the chance the customer will actually buy. Amazon and Alibaba use AI to make accurate product recommendations. They feed data into algorithms, and the algorithms return recommended products based on your profile, preferences, browsing history.

(5.40) Point 4- They can accurately predict the logistics and delivery dates.

Alibaba and Amazon have been using technology to integrate their own systems with third-party shippers like postal services. They have also started using their own shipping service. Amazon is investing in drone technology, which could be used to deliver products to our doorsteps.

(7.39) Point 5- They influence the consumers to connect with their brand.

Amazon and Alibaba know the importance of brand recognition. Amazon and Alibaba understand human psychology, consumer behavior, and they use their knowledge to influence consumers. Amazon and Alibaba use product variety and other consumer-friendly strategies to make people more connected to their brands.

(9:14) Why you should include AI in your planning and execution-

If you haven't looked into AI and other technologies to grow your customer base, you need to consider making changes today. I encourage you to include AI in your planning for your marketing strategy, business strategy, for operations when optimizing sales and optimizing pricing which can be optimized using the power of AI.

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#223 Can AI win wars? | General David Petraeus | Manuj Aggarwal Jul 14, 2021

Show notes

Shownotes:

(0:01) Highlights of the episode

(0:01)- A lot of what we do is to be like someone we admire or individuals we admire, and that's what prompted that decision.

(0:10)- There are very, very bright people in the world who don't see it at all the same way that I do, or that many in uniform way.

(0:17)- People who don't seem to see the world the same way you do can still be exceedingly bright, and exceedingly well informed.

(0:25)- Cyberspace is a new entire domain of warfare without question.

(1:01) A brief introduction to General David Petraeus

General Petraeus, has served in the US military for 37 years, including tours in cold war Europe, United States, Central America, Heidi, Bosnia, Kuwait, Iraq, Afghanistan, and the greater Middle East.

He culminated his military service with six consecutive commands as a general officer, five of which were in combat, including command of the 101st Airborne Division, Air Assault during the fight to Baghdad, and the first year in Iraq multinational security transition command Iraq over 15 subsequent months multinational forces Iraq during the surge from February 2007, to September 2008.

US Central Command from 2008 to 2010, and the International Security Assistance Force in Afghanistan from 2010 to 2011.

General Petraeus graduated with distinction from the US Military Academy, subsequently earned a Ph.D. from Princeton University, and has held academic appointments at six universities.

He has received numerous US military State Department, NATO, and UN medals, including four Defence Distinguished Service Medals, the Bronze Star Medal for valor, and the Combat Action Badge and he has been decorated by 13 foreign countries.

Following his service in the military, General Petraeus served as the director of the CIA, leading the agency through a period that saw significant achievements in the global counterterrorism effort, development of a strategic plan for the agency, and an initiative to increase worldwide human intelligence coverage.

General Petraeus joined KKR in June, June 2013, as chairman of the KKR Global Institute, he went on to become a partner at KKR in December 2014. The Global Institute supports the KKR investment process and KKR portfolio companies with analysis of geopolitical macroeconomic, environmental, social, and governance issues.

General Petraeus is also a member of the board of directors at successful companies like optive and onestream. General Petraeus is also a successful venture capitalist himself, a visiting fellow at Yale University's Jackson center, and an honorary professor of international security at the University of Birmingham, England.

(3:44) Question 1 -

Can you just recall a few incidents which may have had a significant impact on you, the direction of your career, any mentor you met, any meetings, chance meetings that you had?

(4:03) General David Petraeus talks about what inspired him to join the military, and shares stories that profoundly affected his life. He shares his experiences of working with people who had different opinions than him, and how that opened up his perspective.

He also shares the incident of him getting shot.

(18:25) Question 2-

Going into combat going into the real field is very different from learning on the job. So, did yo

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#222 Here Are 5 Crucial Tips On Engaging A Competent Management Consulting Company Jun 23, 2021

Show notes

Show Notes-

Hiring the right consultant at the right time can improve your business and help you save time and money.

So, how do you hire a consultant?

Over the years, I’ve learned what works and what doesn’t. When it comes to hiring a new marketer or business consultant for your organization, there are 5 questions you MUST ask in order to avoid costly mistakes.

01:04 Question one - ask to see their past projects

Ask about what type of clients they have had, what results they were able to achieve, and in what time frame were they able to achieve the results.

Because if they were able to increase sales by 10%, and it took them a decade, that is not going to help you. But if they were able to achieve that within a month, that is somebody you want to work with.

01:54 Question two - ask for past client testimonials

Ask for existing testimonials from previous clients. This will give you an idea of their expertise, of how other clients feel about the consulting services they provide, and whether or not they are worth hiring.

Many companies won't give out information on past clients unless they have had enough positive results with them.

02:37 Question three - Inquire about their processes

get clarity about the processes and capabilities of your consulting company and how compatible they are with your organization.

Because the last thing you want is for a consultant to come in and introduce something that will disrupt your team.

03:39 Question four - Let them ask the questions

Management consultants come in, present their solutions, and ask a lot of questions to you about your organization, your products and services.

But let me tell you a secret, let the consultants do more talking and let them ask more questions.

The idea is, you don't have to go to them with a fully formed problem. Let them ask questions of you, and then they'll formulate the problem around their understanding of what your needs are.

04:57 Question five - Figure out the ROI

You need to ask how you figure out what the return on your investment is going to be?

Once you have answers to the previous four questions, you should ask yourself if your investment can generate the right return. For instance, you should have a fair idea that if you invest $100, you can expect to get $500 back out of this engagement with the consultant.

Once you have the whole picture in front of you, go ahead, engage that consultant, get the return on your investment and save that time to move forward your organization as quickly as possible.

If you follow these simple steps, I am confident that you will be able to find the right candidate for the job and get better results.

Timestamps

01:04 Expertise and Pasty Experience

01:54 References and Testimonial

02:37 Clarity and Compatibility

03:39 Understanding and Curiosity

04:57 Return of Investment

Connect with me on different social platforms:

• LinkedIn: https://www.linkedin.com/in/manujaggarwal/

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#221 The Secret Behind Building Your Network To Succeed | Russel Dalgleish | Bootstrapping Your Dreams Show Jan 15, 2021

Show notes

If you don’t want to miss out on some great insights on building your network, join me as I get in a conversation with Russell Dalgleish; he was listed on the Top 100 Most Influential Entrepreneur list.

Alongside sitting on the boards of 10 companies and organizations, including the Institute of Directors Scotland, Startedin, and ScotlandIS, he also supports the new generation of entrepreneurs and helps them grow.

His list of achievements and diversity does not end there; he is also an experienced speaker. Russell has delivered entrepreneur-focused events in Abu Dhabi, Edinburgh, Hong Kong, London, Los Angeles, San Francisco, and Shenzhen, China.

Russell is back on the podcast for the second time to share the secrets behind his success, time management skills, and networking power!

Here Russell talks about:

(2:45) Russell updates on how things are unfolding for 2021.
(4:55) How is the world adapting to the rapid changes of the covid crisis?
(7:14) Insights on “What is the new normal?”
(11:00) Actionable steps for networking online successfully.
(15:58) Russell’s secret to building a successful global organization.
(19:00) How did Russell learn three things to change the strategy of the Scottish business network in 2021?
(22:33) What drives Russell to support Scottish business and women entrepreneurs?
(26:46) How to deal with the challenges of a digital age?
(33:36) How to reach Russell online?

Find Russell on:

LinkedIn:

https://www.linkedin.com/in/russelldalgleish/

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Facebook: https://www.facebook.com/manuj.aggarwal

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Manuj’s stories:

Read Manuj’s story here: https://him.innerget.com

And his entrepreneurial journey here: https://www.InnerGet.com

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#220 Innovating and socially impacting through technology with Melissa Sassi | Manuj Aggarwal | Bootstrapping Your Dreams Show Jan 14, 2021

Show notes

Are you curious to know how the leading tech giants like IBM and Microsoft headed? What are the challenges of making technology accessible around the globe? Then join me as I discuss with Melissa Sassi, the Global Head of IBM Hyper Protect Accelerator, Founder & CEO of MentorNations.

Melissa has given 100+ talks at UN events, education summits, tech conferences, and a keynote speaker in digital inclusion, women in tech, community building, youth empowerment, imposter syndrome, mentorship, and personal branding.

She has spent several years in Microsoft's Airband Initiative, where she was an internet and energy access impact investor. She is the chair of IEEE's Digital Intelligence initiative and a Founding Member of the Coalition for Digital Intelligence with the WEF, OECD, IEEE, and DQ Institute.

Melissa strives to make a digitally inclusive world with her work as a Board member of TAKMIL, a nonprofit organization with 30 informal schools in rural Pakistan, and TechWomen. Asia, an Afghanistan-based nonprofit organization, focused on tech skill-building for young Afghani women.

(2:33) Melissa talks about her journey and her desire for a vibrant career.

(10:50) How she used volunteerism and a hackathon to land her next big job.

(12:50) With the level of success you’ve achieved, how do you find the passion to help others succeed?

(18:00) What motivates you to keep going in spite of the odds?

(19:34) Why it is important for everyone to adopt technology.

(21:30) A tip on how to deter young people from violent extremism.

(22:55) How have you promoted and achieved your goals at IBM so far?

(27:35) Tell us about how your title “CHIEF PINGUIN” at IBM came about

(31:02) What role do you play to help startups?

(35:00) What makes IBM cloud special, and different from other services?

(37:47) What do technologies need to do, to appeal to executives?

(39:02) How do you cope with all the events you host, all the work involved?

(42:36) Tell us more about the event we are working on (THE HUMAN CODE)

(46:50) How will this event benefit the audience?

Reach Melissa here:

https://www.linkedin.com/in/melissasassi

Facebook

https://www.facebook.com/melissa.sassi1

Instagram

https://instagram.com/msassifrass

Twitter

https://twitter.com/mentorafrika

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#219 Dance: Boosting Business, Boosting Health | Mahrukh Dumasia | Manuj Aggarwal| Bootstrapping Your Dreams Show Jan 14, 2021

Show notes

Do you want to learn exclusive insights into the dance industry? Are you curious about how leading dance institutes create successful businesses?

Then join me as I discuss with Mahrukh Dumasia, the Creative Head and Chief Choreographer of TLCDC (Terence Lewis Contemporary Dance Company), which was voted as the number 1 Dance Company in India, and the Program Head of TLPTI(Terrence Lewis Professional Training Institute).

Mahrukh is one of the first Indians (along with Terence Lewis) to receive the prestigious Dance Web Scholarship at the Impulstanz – Vienna International Dance Festival. Together with Terence, they have choreographed Oscar-nominated movies, Broadway Westend Musicals, Disney India’s The Beauty and the Beast, and dozens of globally successful events. Terence’s multiple Guinness World Records, his membership in the UNESCO-International Dance Council, and International awards have made TLPTI a premier institute that fosters creative excellence in the talented, enthusiastic dancers, raising the standards of dance in India and beyond.

Marukh has a diverse set of skills. She is also a multilingual writer, fluent in English, Hindi & French. She has also been a faculty member at St. Xavier's College, Mumbai.

Here Mahrukh talks about:

(2:23) Mahrukh reminisces how she started dancing.
(5:14) How Mahrukh turned into a professional dancer program head
(6:14) Challenges Mahurukh faced in taking up dance as a career
(8:25) The shifting notion about dance in India
(9:51) Her advice on how to achieve dreams and overcome challenges
(14:15) Mahrukh talks about her 21-year long journey with Terence
(20:20) The positive effects dance could bring even to amateurs
(25:10) How has lockdown made us realize the importance of dance
(27:49) Mahrukh talks about the impact dance has on mental health.
(32:53) She explains how her firm handled the COVID-19 crisis responsibly
(38:13) Her collaboration with IBM on blending art and technology
(44:41) The reason behind the name - “The Human Code.”
(46:33) How and when can people register to be a part of the human code event

Find Mahrukh on:

Instagram:

https://www.instagram.com/mahrukhdumasia/

Facebook:

https://www.facebook.com/mahrukh.dumasia

https://www.facebook.com/groups/humancodewithmanuj/

Reach us on:

Facebook: https://www.facebook.com/manuj.aggarwal

Instagram: https://www.instagram.com/manujagro/?hl=en

Linkedin: https://www.linkedin.com/in/manujaggarwal

Manuj’s stories:

Read Manuj’s story here: https://him.innerget.com

And his entrepreneurial journey here: https://www.InnerGet.com

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#218 The science of making better decisions with Matt Oguz | Manuj Aggarwal | Bootstrapping Your Dreams Show Dec 23, 2020

Show notes

Do you want to learn to make unbiased decisions based on scientific models? Do you need advice on investments and addressing current market needs while embracing long term trends? Then join us with Matt Oguz, a successful investor, entrepreneur, decision theorist, and writer!

Matt is a successful investor and a founding partner at Venture Science, a San Francisco-based investment firm that pioneers an approach to venture capital based on data research. The core principle of the firm is based on his idea of making decisions based on math and avoiding biases while evaluating investment opportunities.

He is also the Chief Investment Officer at the Iris Family office. He is candidly outspoken about his approach and shares his valuable thoughts as a renowned columnist on TechCrunch.

Matt is a polymath, with multiple skill sets in analytics, behavioural economics, decision sciences, and AI.

Here Matt talks about:

(1:35) Matt talks about his early journey and challenges faced as an immigrant
(4:35) What are the factors to be considered before making a decision?
(12:10) To what extent does historical data help predict the future?
(14:39) What drove Matt to start Venture Capital?
(18:43) Most contributing factor for the success of a startup
(22:06) How does Matt spot big opportunities before they turn into big names?
(25:58) What does Matt think about investing in technology?
(28:20) How quantum computing will change the world
(30:55) Long term effects of the pandemic on the economy
(35:51) How are business models changing with the pandemic?
(38:23) How to reach Matt online?