Episode 65 Transcript

Okay welcome to Episode 65 of the Business in Morocco Podcast today we're going to be talking about our book recommendations things we've been reading things we've just finished in 2020
things that we want to pass on to you and recommend you read
we are in week seven just finishing up
seven weeks of the lockdown in Morocco Ryan
how are you surviving and thriving over
there well i hate to say i've probably gotten
used to this lockdown um more
more comfortable with it um
so the lockdown itself is is fairly
normal but i do see some changes coming i have
some clients reaching out to me
saying that they want to do they want to
start thinking about doing some marketing and uh getting
ready for the the reopening of the economy so
that's good constantly thinking about what is
allowed right now
and what can be done and trying to
pursue
different different opportunities
during this this time of home
confinement
but yeah mostly just uh trying to keep
the kids
occupied during the day and and stay
uh mentally alert
you know consuming content podcasts
videos reading books like
like those that we're going to share
today on the podcast so
yeah i'd say the the word that uh
that describes this past week is just
perseverance
just gonna try to persevere through this
and uh and make it out on the other side
hoping that may 20th stays may 20th
and does not move uh
move is not delayed again
yeah even if they do extend the lockdown
we're certainly a lot more than halfway
to the end
that's for sure if we're uh 49 days in
by the time this airs they're not going
to extend it
further than that so alhamdulillah we're
getting close
yeah and the truth is is that a lot of
people are just not paying attention to
it
i mean if you go out there for your
authorized activities
you just see there's there's a lot of
people who are taking it very seriously
they're very scared
um they're terrified of this virus
um and there's others who just it's like
it doesn't
it's like a normal day i mean you see
groups of guys you know 8 10 guys
some have mass some have no mass they're
hugging they're
messing around they're fooling around
like it's nothing so
i'm hoping that the actual
infection right here in Morocco is is
higher than anyone thinks
and that we're we're moving in the
direction of herd immunity so that
there won't be a second wave and and the
economy can start to recover
because a lot of damage has already been
done
yeah agreed yeah looking forward to uh
some of the measures being reduced and
things starting to open up
and especially for businesses starting
to get back on their feet earning some
income
well let's uh let's give some advice to
our
viewers and listeners about some things
they can read
to occupy their time during the rest of
this confinement
you want to go ahead start with uh your
number one
recommendation yeah so one book i've
been reading
actually a second time i just picked
this up again off the shelf is
Cash Flow Quadrant so that book may not
be as familiar to
our audience but certainly they know
Rich Dad Poor Dad
this is the same author Robert Kiyosaki
and this is basically like a
continuation
rich dad poor dad 2 if you will and he
basically just talks about the
difference between employees
those who are self-employed uh they have
you know their own business that they
work in day-to-day
and then those that own businesses like
they
aren't necessarily needed they don't
have to be there every day they own a
system
and then lastly investors those who just
put their money to work and their money
works for them
to earn earn an income and he has this
kind of quadrant here that he describes
and some of the skills necessary for
each of those roles and the mindsets
and kind of is encouraging people to
move from this side over to
the other side to become business owners
and investors
the cool thing for me reading this book
i first read it in 2011
and so i've been reflecting back on
where i was at in my thinking
and in my um like my career
and in my business investing and it's
it's cool to look back and see how
some books have had a really powerful
impact on my life especially
related to business and finance i first
read rich dad poor dad when i was
a newlywed like it was 2004
and that had a huge shift in my
paradigms what i thought about money and
what my plan was for the future
and that was what convinced me to to buy
a property
so my wife and i ended up purchasing a
condo and that kind of began our
journey in real estate investment but
then this book
shifted that for me because i owned a
condos
the same one when i was reading this
actually i owned a second one as well
but they were both losing a bit of money
each month
so in the long run i was making money
because there was appreciation
and over time you know holding it for
years they were both rented out
they were going up in value and so i
would you know refinance and take out
some of the money and come out ahead
but month to month it was losing the
rent didn't cover
all of the expenses including the
mortgage payment and he calls them in
cash flow quadrant he calls a
a investment property like this an
alligator
he calls it a liability even though the
bank would classify it as an asset it's
taking money out of your pocket
each month and when there's something
like this pandemic that we're
experiencing right now
it kind of verifies what he's talking
about because especially when people's
incomes are dropping
some tenants have lost their jobs and so
they might be struggling to pay full
rent
if you're holding an asset that's not
paying for itself
it becomes a liability in a moment like
this because you need money
to live on day to day and this thing is
actually costing you money day to day
and so reading this book back in you
know 2011
shifted my thinking and i i changed my
real estate investing
strategy and now purchase different
properties that that are
cash flow positive so i guess what
has been really striking me is i'm
realizing how powerful
books can be in shifting your thinking
and
changing your actions because i can kind
of go back
over the last 16 years and see the steps
i've taken financially particularly
related to my real estate business in
canada
and see how key certain books were
including rich dad poor dad
and cash flow quadrant so i highly
recommend
both those books rich dad poor dad is
the number one
personal finance book of all time and
you'll find
scores of successful and wealthy people
that
point back to that book as being a huge
catalyst
in their thinking and so you've gotta
everyone's gotta read that book even if
you are an employee just working with a
salary
but cash flow quadrant really takes
takes it a step further
so i recommend that as well
yeah that's great i i i endorse those
books as well
i think they're they're very basic
economic literature
for economic education that typically is
not taught
in any kind of school environment yeah i
mean i went through
business school and a lot of what he
talks about we
we never really covered in any of my
classes so
yeah it's very good uh very good content
my first recommendation is also
one that demonstrates the power
of books and ideas and that is
uh managing oneself by peter drucker
and it's a small book
it's a short book he doesn't try to
cover a whole lot
but he basically focuses on this idea of
what are your strengths what are your
weakest weaknesses
what is your capacity to to learn and
adapt
and once you understand these things
can you make changes to what you do
every day to improve your performance
and your efficiency and your
effectiveness
and one of the things that i really took
away from this was
the way people learn there's many
different different ways of learning
but he mentioned one specifically he
talks about
a category of learners called writers he
says typically writers
do very poorly in school because
they don't learn by listening they don't
learn by reading
they learn by actually creating content
and writing it out and he gives an
example of beethoven
had numerous
hundreds of books of notes that he took
while he was creating content that he
never actually went back and looked at
but just the process of writing it out
was helped him learn
um and he talks about how these types of
people get very bored
at school because it's a lot of
listening it's a lot of reading but
that's not the way that they learn and
so they get labeled as you know
attention deficit disorder or as bad
students simply because they learn in a
way that the school
does not teach and so
one of the things for our listeners to
think about is
how do you learn and what would be a way
for you to figure that out
and are you pursuing those methods of
learning that are best suited for you
so that was that was a big one another
one
was this idea of tracking your own
performance
he he suggested that you you make long
goals
six months 12 months 18 months
right you say these are my goals and you
you break them down by
area of your life an area of your work
and then you track how you do did i did
i
accomplish that goal did i do it well
did i finish it
and he said if you go through this twice
you know 12 month or 18 month periods
you go through it twice
after eight after uh three years
you should know what you're good at
and you should know what you do well and
then you should also know what you don't
do well
by looking at the performance of
yourself over a long period of time
he says once you've figured these things
out you need to stop
doing those activities that waste your
time
and energy and effort and focus
on those things that you actually do
well now i know this is like
in an ideal world we can get rid of
certain
tasks and we can focus on others
it's not always um true in the job that
we're doing that we can just
give an assignment to somebody else but
it's good to really understand what am i
good at
what have i performed well at over a
long duration
and can i put myself in a job or a
company that will allow me to thrive in
that area
and avoid the jobs or the companies
that will make me do the things that i'm
not good at yeah
yeah that's solid that's solid advice
and and um
it actually came up in a book that i was
reading another one called it's called
free to focus i read it at the beginning
of this year by
michael hyatt i really recommend michael
hyatt i've heard him on a number of
big name podcasts so if you just google
him you'll you'll find him
but he talks about his way of talking
about it is uh
finding your true north and just
trying to figure out what are the things
that you are
both passionate about and proficient at
you know so you enjoy them and you're
good at it
and of course every job is going to have
elements of it that
you're not amazing at or that you can do
but you don't enjoy
but the more and more you can delegate
um
those kinds of tasks particularly for
business owners i know we've got a lot
of entrepreneurs
and a lot of students that are choosing
their career and thinking about
what industries to go into the more and
more you can
structure your day so that the the bulk
of your time is spent doing things that
you're
you're gonna see a lot more success
and i think that's what's cool about
drucker is is
he's thinking about it like a like a ceo
like as if
you are a company or you are a business
and you need
to do well and so companies need to say
look we can't compete in this area this
is not something that
is in our wheelhouse it's not something
we're good at let's focus on
the things that make us a lot of money
the things where we're dominating the
market
let's double down on that and we can do
that same thing as entrepreneurs
absolutely it's true for for employees
for workers for independent contractors
but if you're a business owner and you
have lots of employees it's very
important for you as well
because you want your people doing what
they do best and you want them enjoying
you know from a customer perspective
there's nothing worse
than engaging a company and talking to
someone
who could not care less about your
customer experience
yeah if your people who are interfacing
with your customers
if they hate you or they hate your
business or they resent their job
it's going to be obvious yeah and it's
going to give your customers who are
paying you
a bad experience yeah and i see this all
over the place
and you know it's it's
it's something that's fairly easily
avoidable yeah
um yeah and and for managers
and for business owners it's important
to recognize that
everybody is different we all have
different areas that we enjoy
and that we're good at and so sometimes
we can feel guilty about delegating
something we think oh this is the worst
job i hate
i hate entering all the the numbers into
this excel spreadsheet
i feel guilty delegating this to
somebody else
it's like i'm giving them the worst job
but our worst job could be somebody
else's best job
something that they actually really
enjoy and the author of free to focus he
gives the example of of booking travel
he says like i just can't stand you know
arranging my accommodations and booking
my
my transport and buying flights he just
hates that whole process
but he found an assistant that actually
just really enjoys that he loves
searching for deals and looking at the
times and seeing what's available and
coordinating the logistics
so he's he realized oh i'm actually
delegating something to this guy that he
really enjoys
and as long as you can get the people on
your team
doing what they really enjoy and their
skills are going up and they're getting
proficient at it
the whole company is going to benefit
absolutely
and i've i mean just to give you an
example i've been working with jumia
recently
in the last few weeks uh figuring out
ways to sell things on jamia
and you know they have figured it out
they have got employees who care about
their job
who want to provide good customer
service who are responsive
who are competent and you know i know
that we're uh we're still trying to
negotiate uh
an interview with uh the manager here
morocco virginia
and hopefully we'll get that for our
listeners here in the near future
yeah but you know i'm i'm going to
congratulate him when we do get him on
the podcast because
for me as a seller uh it has been a
great experience
and whatever they're doing they're
they're doing it right they're finding
the right people they're training the
right people
whether it's customer service online or
through text message or phone call or
the people who work at the warehouses
and i don't know if you've experienced
this recently ryan but
we talked about this before the delivery
process for me has gotten
much better much much better yeah they
have smartphones
they're calling me they're asking for
the
localization through whatsapp to send
them
the the coordinates through google maps
and it must be the last four or five
deliveries i've had no problems
with the driver so yeah that's that's
exciting they're they're getting it
dialed in they're getting it figured out
yeah i mean we gotta
we gotta remember i mean all of this is
fairly new in morocco you know like just
it's only been the last two to three
years that we're really seeing all the
the globo and jumia
guys jetting around making deliveries
previous to that you really only saw
pharmacies
um as the common delivery guys going
around so
yeah it sounds like they're they're
improving that's that's encouraging
i'm not sure but maybe the folks at
jamia have read my next book
recommendation which is
uh the score takes care of itself by
bill walsh
he is pretty universally considered to
be a great leader
in the united states sports community
american professional football the nfl
and funny enough he didn't actually
write this book
he did a series of interviews with an
author who then wrote the book
okay but it's very well done and it is
a book about the mindset and the
priorities
of bill walsh and the culture of the
organization that he had with the san
francisco 49ers
and i just wanted to list off some of
his
habits for a good leader
knowing that the folks in jumeirah have
figured it out
in a lot of ways so let me just read off
this list of uh
of habits just be yourself essentially
you can't be somebody else for
for the long run so just be yourself um
but while you're being yourself be
committed to excellence
be positive you know sometimes we're can
be negative
it may not come naturally to us but be
positive be prepared anyone can be
prepared
you don't have to be a genius to be
prepared be detailed oriented
so there are stories of bill well she
would go around the headquarters
and he would look at the way that
the person cleaning the offices was
doing their business
the way that people were dressed the way
that people organized their files
the the classic example was the way that
the organization answered the phones he
actually
wrote out the script for
the secretary who answered the phones
and he said look
this is what you need to say this is how
you need to say it
and it needs to be like this every time
so he was very detail-oriented he wanted
the entire
organization to just feel and be
professional not just you know the
athletes on the field
but everyone in the organization when
you went through it
there was an air of professionalism
and hard work and discipline
be organized be accountable meaning if
you make a mistake you got to own up to
you got to tell people hey i made that
mistake this is what i'm going to do to
fix it
and move on be nearsighted and
farsighted we've talked about this a lot
ryan
um think in the long term make long-term
decisions
when he first got to the team he
essentially got rid of like all the
coaches and almost all the players
and a lot of the staff i mean they were
terrible team when he first came there
but he knew that they were going to be a
bad team
his first year because he had to fire
almost everybody and start over
but he was making that decision because
he had a long
long-term perspective yeah
number nine be fair be firm
be flexible uh believe in yourself
and be a leader i mean he always knew
that people were watching him that
people were going to follow his example
if he was unfair then his staff was
going to be unfair
if he was inflexible then other people
are going to be
inflexible right if he doubted himself
then you know his quarterback was going
to doubt himself when deciding
what play to call or whether or not to
throw to this receiver
or what decision to make so in his
opinion it all started at the top and it
flowed down
through the organization so this book is
uh
it's a good read and it's very practical
i think it's applicable not just for for
leaders but people
um in any organization yeah i love
reading
reading biographies and books that are
really focused on
one leader or one person's experience in
sports or in business
because it takes other books that are
mostly teaching principles and ideas
and kind of shows how it is fleshed out
how it how it can be applied
in a person's situation and so kind of
brings the lessons to life
and if you're reading a whole bunch of
books about principles
and ideas and then you mix in some
biographies of
successful people you can start to see
some of those ideas
really lived out and what it looks like
and it makes it easier to apply it
i also love you know thinking about the
title the score will take care of itself
recognizing kind of the difference
between lead indicators
and lag indicators you know focusing on
the small things that will lead to the
results
so we have an objective we have a goal
that's the lag indicator
but what are the steps we need to take
that will hopefully lead to those
so we've talked about this before in
relation to like a sales funnel
you want to increase revenues or you
want to increase the number of clients
and you kind of traced it back to
one of the first steps is making these
cold calls
it's actually picking up the phone and
approaching customers and
asking to set up a meeting and if you
have enough of those calls
give it time and if your system's effect
efficient you're going to end up with
the sales revenue that you're hoping for
but there's a difference there
between that if you're doing the right
things the score is going to take care
of itself
that's exactly right i'm reading a book
called good habits bad habits i picked
this up at the
casablanca book fair a couple months ago
at the english books dot ma booth
and i'll you know i've talked a lot
about habits i love books
about habits one of the things in the
chapter i just finished
was about how powerful our context is
in protecting our habits and recognizing
that habits are basically
automatic behavior it's things that we
do without really thinking about it
so when we understand how habits work we
can
create a system or create an environment
that that helps support habits that
lead us in the direction that we want to
go because habits can be positive and
they can be negative
we have habits that we do behavior that
we do habitually without thinking
without making a decision
that is hurting us it's taking us away
from our goals
and then we have others that are helping
us bringing us towards our goals
so when you're wanting to form a good
habit you want to really protect it in
like this cushion of this environment
you don't want anything to get in the
way
so if there's any change in the routine
or
in the context or the environment it can
cause you to have to
consciously examine and make a decision
and whenever you have to think whenever
you have to make a decision that
habit becomes vulnerable okay so for
example
if you want to develop the the habit of
exercising
one of the environments that can really
help you is the time of day
people do a lot better when they have a
specific routine
this is the time of day that they always
go to the gym or they always go for a
run or they always do their workout
and if you if anything interferes with
if a meeting runs late or the alarm
doesn't go off or someone
didn't you know needs a ride to school
or anything that interferes with
that means now you have to think you
have to analyze
am i going to do this workout and at
that moment you're vulnerable to come up
with a justifiable reason to skip it or
to push it back
and it's it's become vulnerable and so
the the best thing you can do is try to
create this environment this supporting
context around your habits so that it
just flows naturally
you just do it without even thinking
like brushing your teeth before bed
or like making a coffee in the morning
or leaving work leaving
the your home at the same time driving
the same route to work
you're not making decisions about these
things because they just flow in the
routine in the context
so we can use that to help us support
the good habits we're trying to develop
yeah i i ryan you have really uh
convicted me on this whole power of
habits you know
i must say before you and i met and we
started talking about business and
professional development
i honestly hadn't spent a whole lot of
time thinking about the subject
um but you know i completely agree um
i really like that one
that one idea that you mentioned where
we we hook
those new habits we want to have we hook
them to other habits that we already
have
yeah is that called again it could be
called habit stacking
habit stacking yeah yeah powerful
very powerful um
how is your uh your chart of derisia
going by the way
my jurisa chart i only i've only been
filling it in when i meet with my tutor
so if i do any study um separate
from separate from him like when it's
just me on my own
i don't fill that in and actually now
that i'm sharing that with you that
could be
my downfall in a moment like this this
because i haven't met my tutor in a
couple of months
and so what i've what i'm finding is
that i don't have that incentive or that
well first of all i don't have that
accountability
to meet with my tutor because i don't
have a set appointment
um but then secondly i don't have that
reward or that little
boost of being able to check it off so
even if i do study at home i don't get
that same
encouragement so maybe what i need to do
is
adjust my my system so that even if i
study for i put in the time i still get
to
to tick the box or color it in on my
chart so i would get that little reward
yeah one little bridge to to another
book i wanted to recommend
yeah this book is called the four
tendencies
and it's talking about the difference
between external obligations
and internal obligations and some people
they are able to decide something
themselves they're able to say
you know what i should exercise or i
should go to bed earlier i should wake
up or i should eat healthy i should quit
smoking
and that's it once they've decided to do
something
they do it they're self-disciplined
self-motivated they follow through on it
but other people they really struggle to
meet
obligations to themselves and they need
external accountability
like i'm describing with my tutor even
though i believe i should be studying
indonesia and i need to keep going with
it's really my appointment with my tutor
that keeps me progressing
and when i don't have those appointments
i struggle to put the time
in by myself and so in in many ways in
that case i'm i'm being
an obliger which is one of the
tendencies described in this book
so it's really helpful to know kind of
where you fit on this
personality profile i really recommend
gretchen rubin
so you can take a free quiz
by googling gretchen rubin or the four
you can go to her website take a free
quiz and it gives you a little report
about your tendency and some
simple advice that you can apply to help
be effective within your tendency
so the book was really useful and
i highly recommend it for anybody that's
wanting to increase their effectiveness
the last book i'm going to mention is
i'm saving the best for last
and it actually it's applicable to all
the books that we've already mentioned
and it's called the war of art
by steven pressfield and
if there's one that i can recommend now
we had episode 17 where we talked about
books
but of all the books that i've
recommended this book again the war of
art
is by far the number one and the reason
is it addresses
this issue that is
really the foundation of everything that
we talk about which is
resistance so so everything we talk
about is
doing something being something making a
change
um you know getting a degree starting a
business
developing a product or a service
it all involves doing something
and and this book really talks about for
those people who want to do something
you have to understand that there is a
force
that is against you it's it's in all of
us and
it's it's sort of in our human nature
and he defines it as
the resistance the resistance cannot be
seen it cannot be touched or heard or
smelled but it can be felt
we experience it as an energy field
radiating from
a work in potential it's a repelling
it's negative its aim is to shove
us away distract us prevent us
from doing our work and
he basically says that if you understand
that there is something
within us as humans and within culture
and nature
that causes us to stay put
to to not change to not take risks to
not go out and and
make changes then once you understand
that it's there
you can fight it he talks about how the
resistance is
internal it's not something that's
actually external
forcing against you it's in your mind
it's in your soul
he says resistance is insidious meaning
it it bullies you and it
pushes you you mentioned earlier if if
if i don't have a time that i exercise
then
then there's going to be an easy excuse
that comes into my mind
later right for sure this is the
resistance that he's talking about
he says the resistance is
it doesn't get tired it's always going
to peck at you
it's going to tell you oh you don't need
to do your homework today
you don't need to do that research on
that new product or service you don't
need to call that customer right now
it's going to encourage you to
procrastinate
yeah don't you have a netflix show to
watch right
exactly he says the persistence is
uh it's universal it's for everyone
it's everywhere it's in every domain
whenever you're trying to accomplish
something of magnitude of significance
the resistance is going to be telling
you you can't do it
it's too hard it's never been done
before
it's uh it's not possible
you're not the right person to do that
right this is the little voice that's
going to be speaking to you
it's based on fear you're not going to
accomplish it
or or it'll tell you yeah it's possible
you could do this but you know what
you're not the right person and you're
going to put in a lot of hard work and
time and effort and then you're going to
fail
so you better just not try at all it's
like this trader within us right
working against us yeah and the last
thing i'll say about the resistance he
says
it's the most powerful right at the
finish line
right as you're getting to that point
where you're going to break through and
you're gonna you're gonna
move past the resistance and really
accomplish something
the resistance is at its most powerful
wow
and you know it's really it's true now
and and the more that i come to
understand
um you know european culture and
moroccan culture and the differences
between
these cultures and america i would say
the resistance is strong here in morocco
there's sort of uh an idea that
that i need permission to do what i'm
doing
someone else needs to give me permission
you know whether it's the government or
my family or my friends or society
i need someone else's permission to do
what i'm doing
and if i have that permission then i can
go ahead and do it but if i don't have
permission well then
it's not allowed and and one of the
things that makes the united states so
different is that that
there is a culture of everything is
allowed
unless it is specifically illegal or
prohibited
right yeah so i don't need permission
to start a new company i don't need
permission to write a book i don't need
permission to
start a youtube channel i don't need
permission to start
blogging or to start creating posts on
instagram
i don't need permission to educate
myself
you know i don't need that permission
and so what i want to encourage our our
listeners and our viewers is
start embracing this idea that you don't
need permission
that you know as long as you stay
moral you're not hurting other people
you're not committing fraud you're not
lying you're not cheating you're not
stealing
you don't need permission just go forth
you know pursue something and know that
the resistance is going to try to stop
you
and it's there but it's not real
and uh and you can overcome it that's
cool
yeah man motivational words have you
read that
the word have you read linchpin by seth
godin
so i have not read it but i've listened
to it
okay because he i don't know if he uses
the term the resistance but he talks
about
yeah okay so a similar idea and he he
kind of equates it back
to like evolutionary ancestors and
the lizard brain just trying to survive
and stay safe and not take risks and
uh so yeah similar kind of thing just
saying like go for it you know like
you've got something valuable you've got
a voice to add to the world
you've got these ambitions you've got
these dreams so pursue them
don't give in to this traitor within
that's telling you you can't do it
and there's never been a better time i
know it sounds like a horrible time
during a global pandemic and a
there is no better time to ignore the
resistance
and just go try something new then right
now
because honestly the economy is in
tatters
it is it has been devastated
and right now is the time for new ideas
and new initiatives and new products and
new services
people are going to be more open to that
kind of stuff than ever before
um and so go for it yeah huge disruption
right so there's tons of shifts and many
many industries so now is a great time
to break into it
all right any parting thoughts i guess
just
realizing that reading is such a good
habit because
it really shapes our thinking so we need
to be selective in the books we read
because they have a powerful impact on
us so
yeah getting recommendations from people
that you're learning from or that you
respect
is a really wise practice i keep a list
in my phone
and when i'm listening to a podcast or
watching a youtube video and someone
that i follow
someone who's mentoring me says oh this
book blah blah
i write it down and uh keep a list and
then when i'm looking for new books
or i'm browsing a bookstore and i see
one of the books i've
i've heard about then i know that that's
that's got the recommendation of someone
i trust and
someone who i'm learning from so
keep reading

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