The fall will probably kill you...
Kenny’s New Year anthology of ways to hang on to some clarity in a world of confusion: running to Chanonry Point, human behaviour, incentives and the joy working with great people.
I have just returned from a run out to Chanonry Point on a magical Ne’er Day here on the Bonnie Black Isle. Butch Cassidy and the Sundance Kid is on the telly and my family are all around.
It feels like a perfect start to 2024. So let me begin with a few things to think about, liberally selected from the brilliance of others.
You might call it Kenny’s New Year anthology of ways to hang on to some clarity in a world of confusion:
“People calculate too much and think too little.” Charlie Munger
This may sound odd from a professional accountant. I look at numbers two ways: When someone presents me with numbers; I use them to help me find the right questions to ask. Or when I have thought through the options, numbers can help me confirm the impact of my decision.
“It's the work on your desk. Do well with what you already have and more will come in.” Charlie Munger
Sometimes you just need to get on and do what needs to be done. Nothing creates opportunities like doing good work.
“Searching for reasons where there are only humans to be found.” Jason Fried.
I love this. In many situations, no amount of analysis give you a clear answer. It's not about finding linear, logical reasons why something didn’t work out. It's about diverse, often contradictory human behaviour. All you can do is put it behind you and move on.
"Show me the incentive and I will show you the outcome" Charlie Munger
There is no complete way to analyse human behaviour. Incentives are the best tool available. When you think about improving performance, start with incentives. Your own, your team’s, your customers’.
“Working with great people is one of the best parts of my life.” Sam Altman
When I look back on my career, this is the thing I feel most lucky about. Working with great clients and colleagues. You want everyone on your team to feel the way Sam does. You want your customers to feel the same way.
When you are building a fast growing business, never lose sight of Butch Cassidy’s words at the top of this post: “What are you crazy? The fall will probably kill you.” Finding and keeping customers is the number one priority. All the rest is just learning to swim. You can figure that out once you are in the water.
Let me finish with my advice to myself (from Charlie Munger again)...
“Of taking your work very seriously, but never yourself.”
Happy New Year.
Reading:
Hakone at 100 by Brett Larner. Extract from a new book. Ekidens are a unique and wonderful part of Japanese running culture. Making an individual sport into a team effort. I especially love that every single competitor in the Hakone gets name checked live on TV. Much better way to start the year than darts.
Republican states are going strong on wind and solar but not for the climate by Hannah Ritchie. Always excellent and well worth following. This is a great reminder that proven economic incentives will drive our response to climate change. Not policies and targets and protests. We need to harness the economy, not fight it.
Too few leading lights in business by Ian Ritchie. This is the right starter question. How do we give our young people the grounding they need to start and lead a high growth business? Not a unique Scottish problem but an interesting perspective.
Look Back Less by Jason Fried. It took a while for this to sink in. I love his description of project retrospectives “searching for reasons where there are only humans to be found.” You can only learn from what you did and do better next time. And the next opportunity is right in front of you, now.
What I wish someone had told me by Sam Altman. I have no idea whether this post was inspired by the recent Open AI shenanigans. Whatever, its full of simple, sound advice. Hard to pick a favourite but his last point really resonates: “Working with great people is one of the best parts of life.”