How An Idiot Can Beat A Genius…Details Inside…
“An idiot with a plan can beat a genius without a plan.” This is a powerful quote from Warren Buffett. In this episode, we are going to explore how and when, a so called idiot can prevail over a praised genius…It's actually easier than you think
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It's going to be about a quote that I saw that says that “even an idiot with a plan can go farther than a genius without a plan”. And I think it's actually very true. You need to have some sort of direction where you're going or where you want to go.
You don't need to know exactly how you're going to get there, you know, because this is the problem for a lot of people where they're not going to start anything until it's like super polished and everything is defined. So you don't need to go to the extremes but just the general direction.
And I see so many people who basically start something and they have absolutely no idea where it's going. You know, like how they're going to monetize it. You know, again, I told you in previous podcasts that, you know, sometimes you need to go and start before you're ready. OK.
So what it means is you don't need to have every single detail planned and to rehearse and everything. You just need to start, but you need to know where you're going.
So if you're starting a business, something that you want to make a living from, that needs to fuel your lifestyle. Before you do anything. You need to figure out how you're going to monetize it. OK. Because, you know, I've seen a lot of businesses and even myself, so I'm saying out of experience. I studied some stuff and I was like, well, you know what? We'll see how we can monetize that later.
And that's a big mistake, because once you've built something and you realize that the monetization requires the actual thing to be built completely differently, then it's a hassle to go and turn things around. And it's a lot easier to plan the fact that you're going to monetize it this or that way. So regardless if you're going to do it now, you just need to know that in the future, this is what you’re going to do.
And so you plan it when you're designing whatever it is that you're doing. So it's the same thing for when I do developments, for example. I try to give some sort of roadmap to my developer. So what I do is we'll start with a like a beta version. Right. So that has a limited number of functionalities and. And well, basically, I'm telling them or him or her. Okay. So this is phase 1, right?
In Phase 1, I want this. I want that. But in phase 2, I know I will need this. And then phase 3, I know I will need this. So can you please when you're developing the tool, make sure that you take that into consideration and build something that in the future can evolve to this like phase 3. Yeah. So it's the same thing. I'm not at phase 3 right now, but I know I will get there at some point and I need to make sure that I plan for it.
You need to plan this stuff so that you're not going to end up having surprises. And yeah, you know, sometimes you hear about stories of some guy. And you're like, dude, how did this guy make it? You know, sometimes it's just that the only reason is that this guy or this girl had the plan. Right.
They're not the smartest people in the world in terms of like book smarts or something. But as long as you have a plan and especially a very, very simple plan, then you will be able to make it, you know. So the plan just needs to be something very simple, like two, three steps.