Entrepreneurship Bruce Lee Achieved His Life Goals by 32 Because Of One Trait Published 2 weeks ago on October 5, 2017 By The Asian Entrepreneur Authors & Contributors Share Tweet In 1969, nobody expected a thin Asian man with a high pitched voice to become one of the most influential characters of the 20th century. Nobody knew, that is, except Bruce Lee. That year, Bruce Lee wrote a letter to himself: My Definite Chief Aim I, Bruce Lee, will be the first highest paid Oriental super star in the United States. In return I will give the most exciting performances and render the best of quality in the capacity of an actor. Starting 1970 I will achieve world fame and from then onward till the end of 1980 I will have in my possession $10,000,000. I will live the way I please and achieve inner harmony and happiness. Bruce Lee Jan. 1969 Four years later, he was dead. But in those four years, Bruce achieved everything he said he would and more. At 32 years of age, he had already changed the fate of film and martial arts forever. Bruce’s letter is overflowing with confidence. But where did this confidence come from? We may never know the whole answer, but Bruce’s writings — collected in books like Letters of the Dragon and Striking Thoughts — give us a clue. In particular, let’s take a look at a letter written by Bruce Lee over a decade before his death, when he was still a 21-year-old student at the University of Washington. Dear Pearl, – This letter is hard to understand. It contains my dreams and my ways of thinking, as a whole, you can call it my way of life. It will be rather confusing as it is difficult to write down exactly how I feel. Yet I want to write and let you know about it. I’ll do my best to write it clearly and I hope that you, too, will keep an open mind in this letter, and don’t arrive at any conclusions till you are finished. – There are two ways of making a good living, one is the result of hard working, and the other, the result of the imagination (requires work, too, of course). It is a fact that labor and thrift produce a competence, but fortune, in the sense of wealth, is the reward of the man who can think of something that hasn’t been thought of before. In every industry, in every profession, ideas are what America is looking for. Ideas have made America what she is, and one good idea will make a man what he wants to be. – One part of my life is gung fu. This art influences me greatly in the formation of my character and ideas. I practice gung fu as a physical culture, a form of mental training, a method of self-defense, and a way of life. Gung fu is the best of all martial art; yet the Chinese derivatives of judo and karate, which are only basics of gung fu, are flourishing all over the US. This so happens because no one has heard of this supreme art; also there are no competent instructors…I believe my long years of practice back up my title to become the first instructor of this movement. There are yet long years ahead of me to polish my techniques and character. My aim, therefore, is to establish a first Gung Fu Institute that will later spread out all over the US (I have set up a time limit of 10 to 15 years to complete the whole project). My reason in doing this is not the sole objective of making money. The motives are many and among them are: I like to let the world know about the greatness of this Chinese art; I enjoy teaching and helping people; I like to have a well-to-do home for my family; I like to originate something; and the last but yet one of the important is because gung fu is part of myself. – I know my idea is right, and therefore the results would be satisfactory. I don’t really worry about the reward, but to set in motion the machinery to achieve it. My contribution will be the measure of my reward and success. – Before he passed away, some asked the late Dr Charles P. Steimetz, the electrical genius, in his opinion “What branch of science would make the most progress in the next twenty-five years?” He paused and thought for several minutes then like a flash replied, “spiritual realization.” When a man comes to a conscious vital realization of those great spiritual forces within himself and begins to use those forces in science, in business and in life, his progress in the future will be unparalleled. – I feel I have this great creative and spiritual force within me that is greater than faith, greater than ambition, greater than confidence, greater than determination, greater than vision. It is all these combined. My brain becomes magnetized with this domination force which I hold in my hand. – When you drop a pebble into a pool of water, the pebble starts a series of ripples that expand until they encompass the whole pool. This is exactly what will happen when I give my ideas a definite plan of action. Right now, I can project my thoughts into the future, I can see ahead of me. I dream (remember that practical dreamers never quit). I may now own nothing but a little place down in basement, but once my imagination has got up to a full head of steam, I can see painted on a canvas of my mind a picture of a fine, big five or six story Gung Fu Institute with branches all over the States. I am not easily discouraged, readily visualize myself as overcoming obstacles, winning out over setbacks, achieving “impossible” objectives. – Whether it is the God-head or not, I feel this great force, this unstopped power, this dynamic something within me. This feeling defies description, and [there is] no experience with which this feeling may be compared. It is something like a strong emotion mixed with faith, but a lot stronger. – All in all, the goal of my planning and doing is to find the true meaning in life — peace of mind. I know that the sum of all the possessions I mentioned does not necessarily add up to peace of mind; however, it can be if I devote [my energy] to real accomplishment of self rather than neurotic combat. In order to achieve this peace of mind, the teaching of detachment of Taoism and Zen proved to be valuable…. – Probably, people will say I’m too conscious of success. Well, I am not. You see, my will to do springs from the knowledge that I CAN DO. I’m only being natural, for there is no fear or doubt inside my mind. – Pearl, success comes to those who become success-conscious. If you don’t aim at an object, how the heck on earth do you think you can get it? – Warm regards, Bruce Wow. There’s a lot to highlight here, but here’s what stood out the most to me: Absolute confidence The most important personality trait in Bruce’s arsenal was confidence. Bruce had absolute confidence in himself, free from all fear or doubt. This was not innate, but developed through years of mental and physical training. Reward through contribution Becoming a millionaire is the side effect of helping a million people. Your salary or influence is not an end in itself, but an (imperfect) measure of your contribution to the world. Intense purpose Bruce called it “spiritual force,” but I prefer the word “purpose.” A lot of people spend their whole lives chasing the “what” and then worry about the “why” later. Instead, study the “why” first (Bruce, for instance, studied philosophy in college) and everything else becomes easy. You always hear people say that your belief defines the limits of your possibility, but talk is cheap. Bruce Lee is one of the few that lived his life walking the walk: If you always put limit on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them. Note: The above letter came from Letters of the Dragon, a collection of Bruce Lee’s letters filled with practical wisdom, philosophical musings, and beautiful sketches of martial arts techniques. __________________________________________ About the Author This article was produced by mysticalraven.com. Mystical Raven is a site intended to share information and increase awareness about issues going on in our society, explore possibilities through scientific studies and research, admire the works of newly discovered artists, share health and relationship advice, as well as dabble in the esoteric and arcane. Related Topics:asianbusinessdreamhealthlifemeStorysuccesswisdom Continue Reading You may like The Brittle vs. Ductile Strategy for Business What Kills A Startup Jasmine Tan, Director of Stone Amperor Is There A Coworking Space Bubble? Dextre Teh, Founder of Rebirth Academy Arthur Lam, Co-Founder of Synergy Comments Entrepreneurship The Brittle vs. Ductile Strategy for Business Published 9 hours ago on October 22, 2017 By The Asian Entrepreneur Authors & Contributors Companies and startups often pursue a path of “brittle strategy” and in it’s execution, it can be translated, in layman terms, into something like this: Heard about the guy who fell off a skyscraper? On his way down past each floor, he kept saying to reassure himself: “So far so good… so far so good… so far so good.” How you fall doesn’t matter. It’s how you land! – Movie : La Haine (1995) — Brittle strategy : A brittle strategy is based on a number of conditions and assumptions, once violated, collapses almost instantly or fails badly in some way. That does not mean a brittle strategy is weak, as the condition can either be verified true in some cases and the payoff from using this strategy tends to be higher. However the danger is that such a strategy provides a false sense of security in which everything seems to work perfectly well, until everything suddenly collapses, catastrophically and in a flash, just like a stack of cards falling. Employing such approach, enforces a binary resolution: your strategy will break rather than be compromising, simply because there is no plan B. From observation, the medium to large corporate company strategies’ landscape is often dominated by brittle “control” strategies as opposed to robust or ductile strategies. Both approach have their strong parts and applicability to corporate win the corporate competition game. The key to most brittle strategy, especially the control one, is to learn every opponent option precisely and allocate minimum resources into neutralizing them while in the meantime, accumulating a decisive advantage at critical time and spot. Often, for larger corporations, this approach is driven by the tendency to feed the beast within the company that is to say the tendency is to allocate resources to the most successful and productive department / core product / etc.. within the company. While this seems to make sense, the perverse effect is that it is quite hard to shift the resources in order to be able to handle market evolution correctly. As a result of this tendency, the company gets blindsided by a smaller player which in turn uses a similar brittle strategy to take over the market.The startup and small company ecosystem sometimes/often opts for brittle strategy out of necessity due to economic constraints and ecosystem limitations because they do not have the financial firepower to compete with larger players over a long stretch of time, they need to approach things from a different angle. These entities are forced to select an approach that allows them to abuse the inertia and risk averse behavior of the larger corporations. They count on the tendency of the larger enterprise to avoid leveraging brittle strategies, made to counter other brittle strategies. These counter strategies often fail within bigger market ecosystem as they are guaranteed to fail against the more generic ones. Hence, small and nimble company try to leverage the opportunity to gain enough market share before the competition is able to react. — Ductile strategy : The other pendant of the brittle strategy is the ductile strategy. This type of strategy is designed to have fewer critical points of failure, while allowing to survive if some of the assumptions are violated. This does not mean the strategy is generally stronger, as the payoff is often lower than a brittle one – it’s just a perceived safer one at the outset. This type of approach, will fail slowly under attack while making alarming noises. To use an analogy, this is similar to the the approach employed with a suspension bridge using stranded cables. When such a bridge is on the brink of collapse, will make loud noises allowing people to escape danger. A Company can leverage, if the correct tools and processes are correctly put in place, similar warning signs to correct and adapt in time, mitigating and avoiding catastrophic failure. To a certain extend, the pivot strategy for startups offer a robust option to identify the viability of a different hypothesis about the product, business model, and engine of growth. It basically allows the Company to iterate quickly fast over the brittle strategy until a successful one is discovered. Once found, the Company can spring out and try to take over the market using this asymmetrical approach. For a bigger structure, using the PST model combined with Mapping provides an excellent starting point. As long as you have engineered within your company and marketed the correct monitoring system to understand where you stand at anytime. Effectively, you need to build a layered, strategic approach via core, strategic and venture efforts combined with a constant monitoring of your surroundings. This allow you to take risks with calculated exposure. By having the correct understanding of your situation (situational awareness), you will be able to mitigate threats and react quickly via built-in agility. However, we cannot rely solely on techniques that allow your strategy to take risk while being able to fail gracefully. We need techniques that do so without insignificant added cost. The cost differential between stranded and solid cables in a bridge is small, and like bridges, the operational cost between ductile and brittle strategy should be low. However, this topic is beyond the scope of this blog post but I will endeavor to expand on the subject in a subsequent post. — Ductile vs Brittle : The defining question between the two type of strategies is rather simple: which strategy approach will guarantee a greater chance of success? From a market point of view this question often turns into : is there a brittle strategy that defeats the robust strategy? By estimating the percentage of success a brittle strategy has against the other strategies in use, weighted by how often each strategy is used by each competitor you can determinate the chances of success.Doing this analysis is a question of understanding the overall market meta competition. There will be brittle strategies that are optimal at defeating other brittle strategies but will fail versus robust. However, the robust one will succeed against certain brittle categories but will be wiped out with other. Worse still, there is often the recipe for a degenerate competitive ecosystem if any one strategy is too good or counter strategies are too weak overall. Identifying the right strategy is an extremely difficult exercise. Companies do not openly expose their strategy/ies and/or often they do not have a clear one in the first place. As a result, if there is a perception that the brittle strategy defeats the ductile one, therefore the brittle strategy approach ends up dominating the landscape. Often strategy consulting companies rely on this perception in order to sell the “prêt a porter” strategy of the season. Furthermore, ductile strategies tend to be often dismissed as not only do they require a certain amount of discipline, but also the effort required in its success can be daunting. It requires a real time understanding of the external and internal environment. It relies on the deployment of a fractal organisation that enables fast and risky moves, while maintaining a robust back end. And finally, it requires the capability and stomach to take risk beyond maintaining the status quo. As a result, the brittle strategy often ends up more attractive because of its simplicity, more so that it’s benefit from an unconscious bias. — The Brittle strategy bias: Brittle strategies have problems “in the real world”. They are often unpredictable due to unforeseen events occurring. The problem is we react and try to fix things going forward based on previous experience. But the next thing is always a little different. Economists and businessmen have names for the strategy of assuming the best and bailing out if the worst happens, like “picking pennies in front of steamrollers” and “capital decimation partners”. It is a very profitable strategy for those who are lucky and the “bad outcome” does not happen. Indeed, a number of “successful” companies have survived the competitive market using these strategies and because the (hi)story is often only told by the winner’s side only, we inadvertently overlook those that didn’t succeed, which in turn means a lot of executives suffer from the siren of the survival bias, dragging more and more corporations into similar strategy alongside them. In the end all this lot ends up suffering from a more generalized red queen effect whereby they spend a large amount of effort standing still (or copying their neighbors approach). This is why when a new successful startup emerges, you see a plethora of similar companies claiming to apply a similar business model. At the moment it’s all about UBER for X and most of these variants. If they are lucky, they will end up mildly successful. But for most of them, they will fail as the larger corporations have been exposed and probably bought into the hype of the approach. ________________________________________________________________ About the Author This article was written by Benoit Hudzia of Reflections of the Void, a blog about life, Engineering, Business, Research, and everything else (especially everything else). see more. Continue Reading Entrepreneurship What Kills A Startup Published 3 days ago on October 19, 2017 By The Asian Entrepreneur Authors & Contributors 1 – Being inflexible and not actively seeking or using customer feedback Ignoring your users is a tried and true way to fail. Yes that sounds obvious but this was the #1 reason given for failure amongst the 32 startup failure post-mortems we analyzed. Tunnel vision and not gathering user feedback are fatal flaws for most startups. For instance, ecrowds, a web content management system company, said that “ We spent way too much time building it for ourselves and not getting feedback from prospects — it’s easy to get tunnel vision. I’d recommend not going more than two or three months from the initial start to getting in the hands of prospects that are truly objective.” 2 – Building a solution looking for a problem, i.e., not targeting a “market need” Choosing to tackle problems that are interesting to solve rather than those that serve a market need was often cited as a reason for failure. Sure, you can build an app and see if it will stick, but knowing there is a market need upfront is a good thing. “Companies should tackle market problems not technical problems” according to the BricaBox founder. One of the main reasons BricaBox failed was because it was solving a technical problem. The founder states that, “While it’s good to scratch itches, it’s best to scratch those you share with the greater market. If you want to solve a technical problem, get a group together and do it as open source.” 3 – Not the right team A diverse team with different skill sets was often cited as being critical to the success of a starti[ company. Failure post-mortems often lamented that “I wish we had a CTO from the start, or wished that the startup had “a founder that loved the business aspect of things”. In some cases, the founding team wished they had more checks and balances. As Nouncers founder stated, “This brings me back to the underlying problem I didn’t have a partner to balance me out and provide sanity checks for business and technology decisions made.” Wesabe founder also stated that he was the sole and quite stubborn decision maker for much of the enterprises life, and therefore he can blame no one but himself for the failures of Wesabe. Team deficiencies were given as a reason for startup failure almost 1/3 of the time. 4 – Poor Marketing Knowing your target audience and knowing how to get their attention and convert them to leads and ultimately customers is one of the most important skills of a successful business. Yet, in almost 30% of failures, ineffective marketing was a primary cause of failure. Oftentimes, the inability to market was a function of founders who liked to code or build product but who didn’t relish the idea of promoting the product. The folks at Devver highlighted the need to find someone who enjoys creating and finding distribution channels and developing business relationship for the company as a key need that startups should ensure they fill. 5 – Ran out of cash Money and time are finite and need to be allocated judiciously. The question of how should you spend your money was a frequent conundrum and reason for failure cited by failed startups. The decision on whether to spend significantly upfront to get the product off the group or develop gradually over time is a tough act to balance. The team at YouCastr cited money problems as the reason for failure but went on to highlight other reasons for shutting down vs. trying to raise more money writing: The single biggest reason we are closing down (a common one) is running out of cash. Despite putting the company in an EXTREMELY lean position, generating revenue, and holding out as long as we could, we didn’t have the cash to keep going. The next few reasons shed more light as to why we chose to shut down instead of finding more cash. The old saw was that more companies were killed by poor cashflow than anything else, but factors 1, 2 and 4 probably are the main contributing factors to that problem. No cash, no flow. The issue No 3 – the team – is interesting, as if I take that comment ” I didn’t have a partner to balance me out and provide sanity checks for business and technology decisions made” and think about some of the founders and startup CEOs I know, I can safely say that the main way that any decision was made was by agreeing with them – it was “my way or the highway”. I don’t therefore “buy” the team argument, I more buy the willingness of the key decision makers to change when things are not working (aka “pivoting” – point 9). _________________________________________________ About the Author This article was produced by Broadsight. Broadsight is an attempt to build a business not just to consult to the emerging Broadband Media / Quadruple Play / Web 2.0 world, but to be structured according to its open principles. see more. 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