Episode 5 Transcript

You're listening to the Business in Morocco Podcast the
podcast that discusses all things
business and all things Morocco. My name
is Ryan Maimone, I'm here with my co-host
Ryan Kirk and our goal is to share our
knowledge and experiences you in order
to help you gain wisdom skills and
habits that can help you succeed in
business and in life you can learn more
about us by going to our website moroccopodcast.com
alright let's get started
with today's episode it's going to be a
lovely day
all right welcome to episode number 5
of the Business in Morocco Podcast this
week we're talking about the importance
of long term thinking excited to get
into that first a little little update
on what's happening Ryan what's new? Well
this week I've been working with one of
my clients who is an artist his name is Driss Nyami, we have a website where
we sell his paintings but we decided
that we were going to also sell on jumia.ma many of you know Jumia does of
home food delivery other kinds of
deliveries but they also are an ecommerce
site similar to amazon.com you can go on
Jumia.ma and find anything from
shoes to computers to books all sorts of
things and we decided we are gonna add
Driss' portfolio of paintings to the
website and it's been going good so far
we've got a page with all of his
paintings and when you search for him or
search for paintings his search
results come up been an interesting
learning process in terms of how do you
create a profile
they provide the infrastructure of the
website and the listings they do payment
and they do delivery if we get an order
we need to package the painting and
deliver it to one of their distribution
facilities within 48 hours and then they
do the final mile delivery and collect
payment and then they take a commission
based on the sale price of the item and
they pay I believe within one to two
weeks. It's a pretty good deal and we're
excited about how that's going to go
because we do believe that the future
here in Morocco is going to have a lot more
e-commerce yeah especially as people get
more used to ordering things online and
using their bank cards to to make
purchases yeah yeah that's that's what's
going on what about you yeah no that's
exciting and that's the direction things
are going you're exactly right I need to
get my wife's products on on Jumia
because she makes home decor items and
tables and so I'll have to pick your
brain about how to get that set up
things are good for me this I've got a
video coming out tonight that I'm really
excited about about how to create
success with habits rather than focusing
on motivation so that the basic premise
is that motivation comes and goes we
can't rely on it but when you have
motivation channel that into forming
habits which continue whether you have
motivation or not that's something I'm
really passionate about I really believe
in the power of habits and love to put
out content that that supports that and
educates people about that, remind
people what the name of your channel is
again it's Maroc Treasure so they can
find all of your videos on Maroc Treasure YouTube channel and also are
there links on maroctreasure.com? yes
there there are ways to find the videos
through maroctreasure.com and
there's more more info more content
there that you know like blog posts and
written articles so that's a great
resource as well
alright let's get into the topic of
today long-term thinking before we
define long-term thinking and give
examples of long-term thinking it's
important to understand what short-term
thinking looks like many of our
listeners are young people who may be in
high school or at university an example
short-term thinking is cheating on a
test or a homework assignment it may
appear that cheating will result in a
good grade but that is very short-term
thinking because when you cheat you
don't actually learn you don't actually
improve your overall capability your
overall standing and as we're learning
more and more in this world and
especially here in Morocco having a
degree is not necessarily going to be
the key to getting a good job so if you
cheat in order to get a degree you may
still not actually achieve anything in
the short term or the long term that
would be one example of short-term
thinking another would be crime of any
sort if you're going to steal something
or cheat someone you cheat an employer
or a customer or a supplier that may
give you an immediate benefit
whether it's money or goods but
long-term it produces a situation in
which you're going to have anxiety about
that coming back on you another example
of short-term thinking is taking a bribe
you may have an immediate gratification
from getting some money up front but
when you take a bribe
you're basically owned by that person
forever if you're especially if you're
in a position of power because at any
point in the future they could come back
to you and basically say you need to do
me more favors right now that I've paid
you or else I'm going to expose you yeah
so you've basically created a boss
forever a master you are now a subject
you are a slave to that bribe so taking
a bribe is very short-term thinking my
last example would be not taking
responsibility for a mistake by telling
a lie to avoid a short-term
embarrassment let's say you said you
were gonna do something and you forgot
instead of just telling the person you
didn't do it to avoid the embarrassment
you lie and say oh I did do it but I
just don't have it with me right now
or you make up some excuse when we talk
about suppliers or clients or employees
I will only take this kind of answer so
long in fact it's endearing it's a
positive aspect when I find somebody who
is willing to take responsibility for
their actions admit wrongdoing and move
forward yeah many people may consider
that to be a bad outcome but for me it
builds trust, yeah, Ryan, what examples do
you have of short-term thinking? In all
these examples you can see that there's
a tension or a trade-off between the
present and the future and so there's a
temptation to focus solely on the
present and just enjoy ourselves in the
moment even though it's gonna come back
to bite us even though that we're gonna
pay for this but we can push the payment
off and so we enjoy the moment and try
not to think about the fruit of our
actions for example your health is a
great example where in the moment it can
feel good to smoke a cigarette or
eat some unhealthy food and we don't
notice the cost of that we don't notice
that the price we're gonna pay for that
because it tastes delicious and we love
sugar and for those who smoke having a
cigarette can can be a relief of stress
and and it can it can relieve a need and
feel good in the present even though we
know this is gonna cost us in the future
our finances are another thing
short-term thinking is spending a
hundred percent of your salary or maybe
even 105 percent you get some credit
from the bank and you overspend you
spend even more money than you have in
the moment because you're pushing off
the cost you're pushing off the payment
till later and people love this I mean
you see companies doing this this you
know offering you some furniture or
offering you a car
even though you don't have the money
right now with promises that you're
gonna pay it in the future and people
take up these offers even though they
know it's gonna cost them more they'll
pay more for the car or more for the
furniture than it's worth because of the
extra charges associated with paying it
slowly over time this happens in
relationships as well where you think
about somebody who's who's cheating in a
relationship where they're chosen
they're choosing in the present to enjoy
some temporary pleasure even though it's
gonna cost them in the long run even if
they never get caught it's gonna
undermine and destroy that relationship
that they have with their their spouse
or their partner there's this tension
between the present and the future those
that are most effective those that are
successful in life they choose to invest
in the future they make difficult
choices and sometimes suspend or delay
their their pleasure their gratification
because they're waiting for a bigger
reward in the future but those that
cannot do that are continuously paying
for the poor choices they made in the
past short-term thinking can be defined
as doing things involving immediate
gratification that don't build long-term
and a good definition of long-term
thinking is delayed gratification that
that does build long-term value but not
immediate value Ryan what would would be
some of your best advice or best
examples of long-term thinking what what
kinds of things would people do if
they're thinking long-term
okay well related to your personal
finances investing in assets if I if I
buy some stock or I buy some real estate
it actually creates more hassle for me
it doesn't bring me a lot of pleasure
there's no benefits I have to say no to
things I'd like to purchase and could
enjoy right now because I know that my
investment will grow and give me even
better rewards in the future if I invest
it I know my future self will thank me
so instead of being able to afford a
vacation or a nicer car I might choose
to buy a piece of real estate that grows
and grows and grows that much later in
my life or even in my children's life
will be worth a lot of money that could
buy multiple cars or exquisite vacations
and so it's a trade-off there another
example is just investing in
relationships we've talked before on
this podcast about spending regular time
with the people that we care about in
the present it might be a sacrifice
there might be other things that seem
really pressing exams or projects or
work deadlines and we feel like I don't
have time for this relationship but to
prioritize long term recognizing you
know in 25 years how much is the mark
again on this exam or the results from
this one project what kind of impact is
that going to have 25 years from now
whereas consistently investing in my key
relationships with best friends with
kids with spouses those things bear a
lot of fruit in the long run and it's
that consistent investment that
generates a return yeah that one's on my
list as well I word it a little bit
differently I say spending time each
week to help someone else
with no apparent or immediate benefit
to yourself hmm to build up someone else
to build up the relationship this is
long-term thinking there are many people
who just want to take in relationships
they want to take something immediate
and they're willing to destroy the
relationship or they don't even know
that they're doing it their whole lives
are made up of interactions with people
where they take as much as they can and
then the relationship is over and they
move on to the next person while that
may appear to be desirable in the short
term in the long term you're just going
to leave a path of destruction behind
you and your reputation will follow you
eventually it will come back to haunt
you yeah another great example of
long-term thinking is studying a new
language if you've studied a new
language whether it's Arabic or French
or English or Spanish you know how hard
it can be yeah you know how much pain is
involved in regularly practicing a new
language and there are no apparent
benefits from the beginning in fact you
may feel embarrassed
you may feel silly as you mispronounce
words and misunderstand things not only
is it no apparent benefit but it could
appear to be a negative in the beginning
of an overall negative experience
learning a new language yeah but in the
long term when you spend those hours
becoming fluent in a second or a third
language produces so much value in terms
of relationships in terms of business
the ability to speak multiple language
is a huge gift yeah it gives you
insights and wisdom into new cultures it
gives you the ability to bond with
people on a deeper level
other examples of long-term thinking
exercise you mentioned this before
health exercise running lifting weights
avoiding sweets and eating
healthy foods, being 100% honest all the
time, especially when it makes you look
bad, that can build long-term capital and
long-term trust. You would be amazed the
doors that will open to you when you
find people that really trust you. They
will give you money, they will train you
they will do deals with you if they know
that you are going to be honest and
reliable in the long term in fact it's
one of the things that I'm looking for
here Morocco as I start to build my
company is people that I can literally
trust with my checkbook those are the
people that I'm looking for and the
short-term thinking is they're gonna
take one check and they're gonna forge
it and they're going to get a little
reward and then the relationship is
destroyed when they could have reaped so
much more benefit in the long term if I
could have handed them five thousand
dirhams and know for sure it was going
to be used and exactly the way that we
had talked about and we expected in fact
I've done that with some of my clients I
specifically made a loan to one of my
clients as a test hmm
how are you going to handle this money
right because I would like to know right
now if you're unreliable I don't want to
know next year yeah I don't want to know
in five years I want you to burn me on
this loan right now so that I can focus
my time on somebody else and in fact it
has worked out they've been completely
reliable they are repaying the loan and
guess what that's going to open more
doors for both of us in the future yeah
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now back to the show okay
now that we've really defined long term
thinking as delayed gratification in
order to build long-term value Ryan talk
to us a little bit about how that plays
into your mindset and your thought
process regarding Maroc Treasure, right so
I'm producing weekly videos and
releasing them on my youtube channel the
amount of time I invest to film the
videos the costs that that incurs to me
and just the mental energy thinking
about it and planning content it doesn't
generate results that are worth it
but for me I can see that it's leading
somewhere so I can see that there's
incremental growth that over time more
and more people are watching these
videos and the number of subscribers are
growing and even some older videos that
I might have produced two years ago are
still generating views people are still
watching these videos and so there's
there's long-term benefits to that and I
can see it as establishing a platform of
influence for me and establishing me as
an expert in personal development and
leading to opportunities offline like
just this week I was invited to come up
to Tangier and speak at a at an event
and it's because of my youtube channel a
year ago I never would have foreseen
that invitation so there needs to be a
vision for the long term it's the same
with the podcast we're doing right now
we can't see where this is going to lead
1, 2 years from now but if we are
consistent and we're putting the time in
we're choosing to think long term versus
short term and a great illustration of
this is Domino's knocking over first of
all just the the impact of you knock
over a domino it knocks over another one
and that can lead to great things down
the road but also scientifically a
Domino can knock over a Domino that's
50% larger than it so even if you're
starting very very small you grow over
so you knock over a bigger Domino and
then a bigger one from that and you
can't skip those steps you might be
looking at something that seems daunting
but if you take the steps that lead up
to that it compounds or it grows have
you noticed yourself improving the
quality of your product whether it's
your your training your speeches your
videos over time oh for sure for sure I
mean you can see it visibly just by
looking at a YouTube video that I made a
couple years ago just small little
incremental growth and but even with my
my corporate role so I'm well paid to go
into a corporation and to to teach
things and to to share value
around the area of business development
or personal development but this is
something that I have been working
towards for decades you mean you
couldn't go in to a fortune 500 company
five years ago and speak to them the way
you can today oh definitely not
definitely not and I can even look back
on you know making speeches or doing
teaching what 20 years ago with just a
handful of people just in small settings
that is a domino that I knocked over
that has helped lead me to where I am
and, a book that I read seven years
ago and then I took some valuable ideas
from or helped shape my mindset or
helping me develop good habits I mean
the fruit of that I'm beginning to reap
in my life but you have to have long
term thinking to keep sowing those seeds
to keep cultivating that growth in your
life because otherwise you'll reach a point
where you're not seeing the evidence
you're not seeing the results you're
putting in the effort in the short term
you're making sacrifices but you're not
seeing the fruit because it's a
long-term result it's gonna come later
and so most people they try something
and then they quit they they read a book
they go to the gym then they get on the
scale they don't notice any difference
jeans are still just as tight and
there's a bag of chips tempting them and
so forget about it and it's not until
later that they reap the rewards or the
consequences of their short-term actions
yeah you're perfect example of the
importance and the impact of practice
and I'd just like to give a few examples
of practice because there is this idea
not only in Morocco but around the world of
the overnight success the people the
companies the musicians it always
appears that it was easy for them that
it happened very quickly there was
something innate something special about
them that led to their success but often
this is not the case and they're real
history is hidden
for example the Beatles very famous band
from the 1960s 70s 80s they were from
Britain they came to the United States
and they were on a television program
and it seemed like they just exploded
out of nowhere yeah but what most people
don't know is that before they even came
to the United States they had played as
a band more than twelve hundred times
that is a lot of practice yeah they were
literally playing together night after
night day after day yeah year after year
before they even got the chance to be
exposed to a wide audience and be an
overnight success yeah
another example is Steph Curry who plays
for the Golden State Warriors he is
widely considered to be the best 3-point
shooter of all time
what most people don't know about him is
that he's barely over six feet tall
for those of us in Morocco he's 191
centimeters he's 86 kilograms he takes
more than 2,000 shots per week that he
has calluses all over his hands from the
number of shots he's taken and the
amount of time that he's practiced
dribbling yeah there are some times where he
won't leave practice before he's made a
hundred shots in a row wow you talk
about an overnight success he was not
offered a college scholarship at a major
university he went to a very small
University called Davidson University
yeah the big basketball programs in the
United States they didn't even
want to give him a shot yeah and now
he's considered to be one of the
greatest three-point shooters of all
time and he has been the NBA MVP and
and basketball champions several times
this is not an overnight success this is
an example of the fruit of practice and
the fruit of long-term thinking all
right so long-term thinking fits
beautifully with number two in the seven
Habits which is begin with the end in
mind and having a vision from where
you're headed or where you want to get
to and it can actually provide the the
motivation and the that you need to
persevere in those moments when you're
not seeing results in the short term you
know a guy who decides he wants to get
buff and have big muscles and look good
on the beach in the summer you know
summer beach body in January when he's
struggling to feel motivated when his
chilly and rainy to get out and go to
the gym or to go for a run or he's just
doesn't want to get out of bed in the
morning and do some push-ups having that
picture in his mind of where he wants to
get to six months later can provide him
the the gumption or the motivation he
needs to do it to put in the reps to put
in the work that will leave there but
even broader than just thinking about a
goal like that that's six months
thinking about our lives and the fact
that we're not going to be here forever
and that we only get one crack at this
and imagining the end of our life or
some people use their 80th birthday and
who do you want to be there what do you
want people to say about you
what kind of celebration do you expect
it to be having that picture of our
perfect or ideal 80th birthday can help
us narrow down the options in life and
focus on what's truly important can help
us make good choices in the short term
because it leads to where we actually
want to get to in the long run now in
this podcast as we're speaking about
different books that we've read or that
fit with the topic books that we really
highly recommend will always put links
to those books so if
Morocco podcast.com you can find more
information and more resources to
further your knowledge on the topics so
we've alluded to the 7 Habits of
Highly Effective People we've alluded to
Outliers we've alluded to The One Thing
The Compound Effect
these are personal development classics
that should be part of your education in
order to be effective in life so if
those are books you haven't yet read
make sure you go to Moroccopodcast.com
and find links to them and pick those up
today. You've been listening to the
business and Morocco podcast my name is
Ryan Kirk here with my co-host Ryan
Maimone, if you enjoyed this episode be
sure to subscribe and leave us a 5-star
review on iTunes, Google Play, Spotify, or
wherever you get your podcasts. Download
our entire library of podcasts on our
website moroccopodcast.com
where you'll also find extra resources
related to each episode in the show
notes including a transcript of the show. If you've got a question or topic you
think we should cover on the podcast
fill out the form on Moroccopodcast.com
or email us at Ryan@moroccopodcast.com and we'll give you a shout-out on
the show. Our theme music is Lovely Day
by Bill Withers used under Creative
Commons and we hope you'll have a lovely
day doing business in Morocco we'll see
you next time

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