Author Archives: Blas

About Blas

Hi, I'm Blas Moros. I'm a half-Swedish, half-Venezuelan mutt who has been fortunate enough to live and travel the world. I spent the first 20 years of my life dedicated to tennis and this culminated in an amazing experience playing for the University of Notre Dame. I am now living in Chicago, working in the finance industry. I have a younger brother at the University of Chicago and a younger sister who is a senior in high school. My parents are unfailingly supportive and I won't ever be able to thank them enough for everything they have made possible for me.

How Children Succeed: Grit, Curiosity, and the Hidden Power of Character by Paul Tough

Summary

  1. The ‘cognitive solution’ is an understated but pervasive illusion that cognition is the most important factor in succeeding in life. This book argues that other skills such as persistence, curiosity, grit, self control, social skills, and delayed gratification are actually the building blocks for a successful life

Key Takeaways

  1. Stress, especially chronic stress, is extremely damaging mentally, emotionally, cognitively, and physically. Students to go through stress early on or showing to have greater chances of disease or risky behavior
  2. Stable relationships and attachments in the child’s early life is extremely important in their social, cognitive, and emotional development. High-quality parenting can go a long way in reducing the effects of stress and it’s downstream effects. Attachment theory shows that parent who respond quickly and sensitively raise independent and confident kids. Safe, secure, stable, nurturing, and sensitive relationships early on has important and long lasting impacts and benefits
  3. In the marshmallow test (a test showing short vs. long term gratification), they found that the students who are able to abstract the marshmallows and think of them as “fluffy clouds” instead of a delicious treats were able to hold off the longest and show the most self control.
  4. Motivation and volition are to central elements to self control
  5. The only way to grow and learn is to try something where you have a legitimate chance of failing and this is where most privileged families hurt their children. 
  6. Rules are metacognitive substitutes to will power. It is much easier and more effective to have a rule saying, “I will not eat donuts” than relying on will power 
  7. Habits and rules go a long way in predicting and controlling behavior. Good habits and positive rules make up for a lot
  8. The importance in believing in a growth mindset instead of a fixed mindset cannot be overstated. If kids believe that intelligence, character, and behavior are malleable and within their control, it improves nearly every area of their life
  9. When raising a child, balance cognitive tasks and the social and character traits that have been discussed in this book. Help your child socialize successfully, be able to fail and get back up, and be there for them to support them and encourage them in tough times. Do not over protect your child, expose them to manageable stress to help them grow, and they will develop the resilience needed to be successful at life
  10. One of the best things you can do for a child give them a stable home relationship support and unconditional love

What I got out of it

  1. Character > Intelligence

Setting the Table by Danny Meyer

Longer write-up and full notes can be found below. Worth reading in its entirety if you want a great perspective on leadership, communication, business, and “enlightened hospitality”

Russell Rules: 11 Lessons on Leadership from the Twentieth Century’s Greatest Winner By Bill Russell, David Falkner

Longer write-up and full notes can be found below. Worth reading in its entirety if you want a great perspective on leadership, mastery, “team ego” rather than personal ego, and so much more

On Grand Strategy by John Lewis Gaddis

Longer write-up and full notes can be found below. Excellent book if you’re interested in strategy and seeing how it has played out and been shaped over the last several millennia

Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth by John Doerr

Summary

  1. OKR stands for “objectives and key results.” They are important in that they help drive good ideas forward by gaining clarity, transparency, and accountability. They are a collaborative goal setting structure for individuals, teams, organizations, or anything else. Objectives are what we want to get done – they must be concrete, actionable, and hopefully inspiring. They are a vaccine for fuzzy thinking and action. The key results are how we determine and measure the progress of getting to an objective. The results must be verifiable and have a number attached to them. Specific hard goals push people and if you have verifiable measures of progress you can hold them accountable. Goals create alignment, engagement, meaning, and fulfillment if done correctly. They’ll align people within a company and clarify what is most important, they break down silos, and help people communicate in the same language. They are meant to help communicate, measure, and achieve lofty goals.

Key Takeaways

  1. OKRs have four superpowers: Focus, Align, Track, and Stretch (FATS)
    1. Focus
      1. Setting objectives gives people a clear path on what to work on and what success looks like. Key results help indicate success and progress since there is a clear benchmark for what ‘success’ means for each objective 
      2. When people help set the objectives they are more likely to follow through
      3. Hand-in-hand with focus is a deep commitment. If you waiver or switch priorities often, you will waste time and confuse your team
      4. Objectives should be one line and clearly understandable. The key results must be objective and measurable
    2. Align
      1. OKRs allow teams to move very quickly as it is clear what the priorities are and ensures everybody is moving in the same direction
      2. Transparency is the key and modern goal setting people allow people to buy in and gives management has a clear idea of what people are working on and why.
      3. Objectives get people to flush out their hesitations or frustrations which helps foster communication and collaboration.  
      4. Alignment is extremely important but hard to come by and is the biggest lever to go from strategy to execution – if people don’t know the business model and what they’re doing to help the company succeed, it is hard for them to go all-in and know what they’re supposed to be working on.
      5. In addition, this transparency allows for the whole company to weigh in on the best objectives. The best objectives tend to come outside the C-suite, coming from the front line employees who have the best access to accurate information and changing trends.
      6. You also get more people thinking about the same problems – flushing out ideas, making connections that otherwise might not have been made, and getting cross-division collaboration
    3. Track
      1. OKRs are living and breathing goals, evolving and adapting with the needs of the company. OKRs are meant to be adaptive guardrails, not strict rules to follow.
      2. The OKRs have to be visible and related to daily, or else they fade into irrelevance. 
      3. Making progress in public goals is one of people’s most motivating factors. You need to write them down and follow up on them often
      4. The constant monitoring and making sure that you’re working on the right thing at the right time is more important than the actual objectives
      5. Expectations are easier to set across groups and fewer surprises can be expected when OKRs are set and tracked accordingly 
      6. Post-mortem: OKRs aren’t done even when completed. You can go through a post-mortem: objective scoring (are the objectives themselves valuable and correct?
      7. Google measures each one in a 0 to 1 scale, with anything above .7 being considered successful, subjective self-assessment, and reflection (what contributed to success, what obstacles did I face)
    4. Stretch
      1. Google adheres to and goes after the 10 X improvement. It requires a new way of thinking and a lot of courage to go for 1000% change vs. a 10% change
      2. A stretch goal cannot seem like a long arch to nowhere and it cannot be imposed from the top down, with no basing in reality. Employee buy-in is essential and leaders have to show that they think the objective is important and obtainable
  2. CFR
    1. Conversation – Feedback – Recognition
    2. OKRs set the direction and give clarity, CFRs provide the fuel to get there. They work hand-in-hand and help boost each other up. Continuous performance management rather than quarterly or annually
    3. A manager’s first job is a personal one – to build a deep and trusting relationship with all of their people. The quarterly feedback which is common and most companies is outdated and eats up a lot of time.
    4. CFR is an updated way to give your people feedback – building trust and pushing them to learn and grow.
    5. They help boost OKRs since people can go all-in, knowing that what they’re working on is important and getting appropriate feedback and recognition for their hard work.
    6. Conversation 
      1. It is important for managers to have one on one meetings with their people – the employee must set the tone and agenda, driving the conversation, but the manager must make themselves open and available to discuss and meet with them. This should help the employee with goal setting and objectives, help them look at their progress and areas where they can improve, enable two-way coaching, future career development, and lightweight performance reviews
    7. Feedback
      1. Feedback must be timely and specific in order to be effective
      2. Without consistent feedback it is very hard to know if you’re moving in the right direction and how you’re progressing
      3. Ask new employees – what they love, what drains them, what their ideal job would look like. Make it clear that the expectation is that they will always tell the truth and do the right thing, and that you’ll do the same
      4. Upward feedback – what are you getting from me that is helpful/harmful? What can I do for you to make you more successful?
      5. Career development – what skills or capabilities would you like to develop? In what areas would you like to develop and how can I help you get there?
    8. Recognition
      1. Continuous recognition is a huge driver of engagement and employee satisfaction. 
      2. Institute peer to peer recognition 
      3. Establish clear criteria – projects finished, values lived out, etc. Replace employee of the month with achievement of the month 
      4. Share recognition stories – blog or newsletter
      5. Recognition should be simple and attainable 
      6. Tie recognition into company goals and strategies – customer satisfaction, product launch…
  3. Other
    1. Ideas are easy execution is hard – OKRs help turn bold and audacious ideas into sustainable, scalable, and repeatable processes
    2. About 3 to 5 OKRs per quarter is about right. 
    3. There should be one sole owner for each OKR or else you dilute ownership and accountability
    4. Don’t confuse your mission with your objectives. Your mission is the direction you want to go and your objectives are the steps you need to take to get there. The mission should be extremely aspirational and the objectives more obtainable. This process allows you to be ambitious yet realistic
    5. Doerr’s favorite quote or definition of entrepreneur is “someone who does more than anyone thinks possible with less than anyone thinks possible”
    6. It is important to have rules from the start. Just like trying to give a teenager rules when there were none as a child, it will be difficult to implement after the fact
    7. The best turnover is internal turnover, where people move to different roles within the company to grow and learn
    8. The adoption period can be difficult and take up to a year, but it is worth it. It has to come from the top and everyone has to buy-in
    9. Culture is the only thing which can’t be commoditized or copied 
    10. Conviction and buy-in from leaders is most important to make this process work
    11. Should establish both ambitious and incremental OKRs

What I got out of it

  1. Some great, actionable takeaways on how to think about and establish OKRs, and why that’s important. CFRs is another great idea to take to heart and implement. Simple but definitely not easy

Trillion Dollar Coach: The Leadership Playbook of Silicon Valley’s Bill Campbell by Eric Schmidt, Alan Eagle, Jonathan Rosenberg

Summary

  1. This is a “help-others” rather than a self-help book. It will teach you how to better help and coach others so that they can flourish

Key Takeaways

  1. Bill Campbell
    1. Bill began every relationship with a foundation of trust. This was essential to him and everybody he worked with felt it. He showed, from the beginning, and regardless of who the person was, that he cared
    2. He always preferred to be behind the scenes but is given credit for helping Apple, Google, and various other companies reach their full potential – totaling over $2T in market cap! Bill was always looking to help others with great compassion and empathy. He helped make sure the problems, ideas, and frustrations were flushed out rather than swept under the rug, making sure everyone was on the same page whether they all agreed with the decision or not
    3. Bill played football at Columbia but was severely undersized, yet led the team due to his effort and attitude. He later coached Columbia but failed and moved into the business world at 39. After only 5 years, he rose up the ranks as a senior executive, first at Kodak, then Pepsi and Apple, later as CEO of Intuit
    4. Bill was always happy and nice to everyone – he showed everyone, regardless of who they, were dignity and respect
    5. Bill was never afraid of crossing divisions within a company he was a sales and marketing guy to start out with but would go talk to the engineers directly and get their point of view, understand them, and help everyone work together
    6. Bill always advocated for more generosity rather than less – he thought that this was an easy and important thing to do for good people
    7. One of Bill‘s main roles was to shine the light on the elephant in the room. He would bring it front and center, expose it, and have people talk about it openly and honestly.
    8. Bill worked from first principles and invariant strategies. It didn’t matter if he was dealing with Steve Jobs and Apple or the flag football team he coached at Sacred Heart. He would treat everyone the same, be present, and follow his same game plan
    9. Bill saw all the chess pieces all the time because he wasn’t on the board! Can often be more effective when you’re not part of the system. Bill did this by not sitting on many boards and by also not taking any cash, or equity. “I don’t take cash, I don’t take equity, I don’t take shit.”
    10. Bill was huge on community and had many yearly trips with different groups – a Super Bowl trip, boys trip, family trip, and he always paid for everything. Even when he died, he set up an endowment to make sure that the tradition continued. He really understood the power of moments and ritual. Bill was heavily focused on building community always connecting people and building deep emotional ties 
  2. Was all about the people and wrote his “It’s the People” Manifesto to capture this idea
    1. “People are the foundation of any company’s success. The primary job of each manager is to help people be more effective in their job and to grow and develop. We have great people who want to do well, are capable of doing great things, and come to work fired up to do them. Great people flourish in an environment that liberates and amplifies that energy. Managers create this environment through support, respect, and trust. Support means giving people the tools, information, training, and coaching they need to succeed. It means continuous effort to develop people’s skills. Great managers help people excel and grow. Respect means understanding people’s unique career goals and being sensitive to their life choices. It means helping people achieve these career goals in a way that’s consistent with the needs of the company. Trust means freeing people to do their jobs and to make decisions. It means knowing people want to do well and believing that they will.”
    2. A manager’s job is to help their people become as effective as possible, to ensure their well-being and success 
    3. Develop a relationship with everyone – don’t be dictatorial, establish credibility, show you really care and love them
    4. Your title makes you a manager, your people make you a leader
    5. People will crown you as a good leader, a good manager – this never comes from yourself.
    6. A manager‘s role is firstly to help his people grow and fulfill their potential but also to help facilitate decisions and remove roadblocks from their people‘s paths. However he hated consensus as he believed this led to group-think. He wanted to air out all the ideas and give everyone a chance to voice their opinion‘s but ultimately the decision is the leader’s. 
  3. Teams > Individuals, Teams > Problems
    1. Bill coached teams and not individuals. When he met with Larry and Sergei of Google, he met with their whole staff not just the founders. He coached them on how to be better managers and leaders of their teams and also how to be better people overall
    2. Always focus on the team rather than the problem
    3. Begin every meeting with some social talk – asking about trips, weekends, plans, anything outside of work that people are passionate about. Deep relationships and clear communication are absolutely vital. Use meetings to get everyone together, build relationships, see each other’s strengths, get everyone on the same page, and make decisions
    4. Bill started meetings by writing five words on the whiteboard that he wanted to cover. He would sometimes ask the person he was coaching to write his top 5 – 9 words. This would help prioritize and show what each thought were the most important topics
    5. The leader should speak last and let everyone voice their opinion‘s. Getting the right answer is important but how you get there is just as important. Sometimes you have to make a hard and unpopular decision but it is the right thing to do – at this point the team has to “disagree and commit”
    6. Winning is important but winning right, winning as a team, is more important
    7. Leaders communicate effectively and clearly. When they see fissures developing, they stop them in their tracks. They fill in the gaps and make sure everyone is on the same page
  4. Other
    1. While a genius can help you in many ways, if they’re sucking up too much management time and aren’t able to work well with others, they shouldn’t be around
    2. An important lesson to learn is that you should only coach the coachable. Those who are coachable are honest and humble, persevere and work hard, and are open to hearing negative feedback.
    3. He always asked a ton of questions – “I would never tell anyone what to, but I would help people get to the root of the problem or help them get to the key question themselves.” Because everyone knew Bill cared and that he was coming from a place of trust and love, he could be extremely candid and blunt in his feedback. He was constantly giving feedback but, if it was critical, he would do it in private
    4. Listening and making sure whoever you’re with is being heard is vital – be present don’t be distracted. Truly listen to people
    5. Don’t tell people what to do. Instead, tell them stories about where you want to end up and let them figure out how to get there
    6. As a leader, you must be an “evangelist for courage” – giving people a greater ability to push past the fear and go for big, bold outcomes. When you set the bar higher for people than they otherwise would, you can get greater results than they thought imaginable
    7. Have the courage to be your authentic, full self. Do not water it down or hide it – this will help you gain people’s trust
    8. Seek people who have “smarts and hearts,”, integrity, work ethic, and are team players
    9. Solve the biggest problems and solve them first
    10. When things aren’t looking good, when you’re losing, recommit! Be positive, be decisive, infect others with this determination and positivity 

What I got out of it

  1. A really inspiring man who dedicated his life to giving back and helping others flourish – focus on the team rather than the problem or any specific individual, establish trust in every relationship, air out any problems even though it may be uncomfortable

Drive: The Story of My Life by Larry Bird

Summary

  1. Bird discusses his childhood, college years, and life as one of the all time great NBA players

Key Takeaways

  1. Magic Johnson gives the foreword and says there are 3 reasons he respects and fears playing against Bird – his dedication, guts, and poise under pressure
  2. Baseteball just ‘clicked’ in his mind. Whatever he practiced he would pick up quickly – he also practiced more than anyone
  3. Didn’t care how much he scored or was the main player, as long as his team won
  4. Extremely competitive and grew up going at it with his brothers – family was always a united front
  5. Blessed with a good memory and was able to remember every instruction – was given the nickname ‘Kodak.’ My memory has always helped me to quickly up on things that I’m interested in. I think I’ve surprised people sometimes when they become aware of my recall capacity. Once, when I was doing a network interview, the producer ran a videotape of a previous year’s NBA championship game so I could comment on the game. When they stopped the tape randomly, they were trying to figure out at what point of the game it was, so I told them right away, “It’s the fourth quarter with fie minutes and forty seconds left.” The producer asked me how I could possibly have known that exact time and I told him I could tell from the fight song that was playing. He asked, “What fight song?” I explained, “I remember in the game the fight song was played three times. The last time they played the song the crowd was going absolutely crazy. Houston had come back from being 17 points down and I remember looking up at the clock at that point and there were five minutes and forty seconds to go.” I went on to describe the rest of the plays for the producer before they appeared on the tape. I guess it’s things like that that earned me the nickname of “Kodak” from Coach Bill Fitch.
  6. Never treated rookies badly – always took them under his wing
  7. His life motto was: I’ll deal with it when it comes. Never over thinking things or wasting energy
  8. When looking for his agent, the key question his team asked of each candidate was, “If you don’t get the job, whom would you recommend?” Almost all of them replied, “Bob Woolf.” Bird was really impressed by that and ended up choosing him
  9. After he was drafted by the Celtics, he read up on their history Red Auerbach, and the rest of the team
  10. As a rookie, have to gain respect. Focused on consistency so the team knew they could count on him every night
  11. Maxwell tried to get reactions from others to get himself fired up
  12. A basketball team consists of 12 men – not five or six. If the team is going to function properly, every member must have a role and that includes off the court, as well as on. The problem is that the public only pays attention to the ones who play the most minutes. Eric Fernsten was perfect for our team because he did everything and anything Coach Fitch asked. What he wanted to do was practice. His games were like mine while I was being red-shirted at Indiana State. He lived for practices. You may find this difficult to believe, but he really didn’t care that much about playing in the games. Eric would walk into practice and say, “Today is my day.” Then he’d go out and give you a real battle. He made the players he practiced against better – and that includes me. If Coach Fitch told him he wanted him to tackle you – which happened about three quarters of the time – that’s what he’d do. He would get me so frustrated, he’d make me want to play harder. He would do everything to you that you hated in an opponent. 
  13. We all knew Danny Ainge had to start playing more, but when you’re a player you don’t think the same way they do in management. Danny had a tough time his first 2-3 years. He played a lot with one eye on the bench and I’ve always said you just can’t play that way
  14. Whenever I’m trying to improve my game, I analyze my weaknesses first and work on those relentlessly. When Michael Cooper made all those subtle changes on me, I knew I needed to come up with something new.
  15. Bill Walton wanted to get his points, just like everyone else on the team. We weren’t afraid to go to him, but we never wanted him to get to the point where he felt he had to score. I think there was a time that seasons when he felt he should score eight or ten points a game. I remember telling him, “Don’t worry about points. We’ll take care of that. Just make your move if you have it. If not, give it to someone who can shoot it.” Once he accepted that, we didn’t have any problems
  16. Magic plays basketball the way I think you should play basketball. We think the same way about the game. We look at such and such a player and say, “If he was on my team, I could make him a great player.” Well, maybe not make him one, but sort of bring out the best of his abilities. We’ve reflected on that experience when we played on the same All-Star team in college. Both of us want to bring out the best in our teammates. We also want the fans to be involved in the game. Without them reacting, it just wouldn’t be as much fun. Magic plays to the strength of every teammate. The Lakers have a great team and they would be very good without him, but he is the special ingredient that brings them championships. 
  17. The Lakers learned a lot from the loss in ’84. They’ve developed the attitude we used to have. When we had our great teams, we remembered every loss. The next time we played that team, we wanted to bust ’em. If we lost a game, the players would say, “What went wrong tonight? The next time we play them, it won’t happen again.” And it wouldn’t
  18. I play for the fans, but they don’t come first. The owners come first. Without them, none of us would have anything. Then come the Celtics, which means Red. He gets me more fired up to play than any other individual. My high school and college coaches were great, but Red is “Mr. Basketball” to me. Then come my teammates and somehow in there I include myself
  19. Leadership is getting players to believe in you. If you tell a teammate you’re ready to play as tough as you’re able to, you’d better go out there and do it. Players will see right through a phony. And they can tell when you’re not giving it all you’ve got. Leadership is diving for a loose ball, getting the crowd involved, getting other players involved – no more, no less. It’s being able to take it as well as dish it out. That’s the only way you’re going to get respect from the players. 
  20. As a kid I always thought I was behind and I needed that extra hour to catch up. Jim Jones once told me, “No matter how many shots you take, somewhere there’s a kid out there taking one more. If you dribble a million times a day, someone is dribbling a million and one.” Whenever I’d get read to call it a day, I’d think about that other kid. There are many times when you’re better off practicing than playing, but most people just don’t understand that. 
  21. Surround yourself with good people and good things will happen

What I got out of it

  1. Perseverance, hard work, freaky memory, honest and straightforward, empathetic, and the consummate team player

The Path of Least Resistance: Learning to Become the Creative Force in Your Own Life by Robert Fritz

I got so much out of this book that I made a bit of a more formal write-up.

If you want to learn more about the power of creating, why the structure in your life impacts your behavior more than your willpower, the importance of facing reality without obscuring it, and so much more, this book is for you.

Loonshots: How to Nurture the Crazy Ideas That Win Wars, Cure Diseases, and Transform Industries by Safi Bahcall

Summary

  1. “I’ve always appreciated authors who explain their points simply, right up front. So here’s the argument in brief: The most important breakthroughs come from loonshots, widely dismissed ideas whose champions are often written off as crazy. Large groups of people are needed to translate those breakthroughs into technologies that win wars, products that save lives, or strategies that change industries. Applying the science of phase transitions to the behavior of teams, companies, or any group with a mission provides practical rules for nurturing loonshots faster and better.”

Key Takeaways

  1. The Bush-Vail Rules: Many of the lessons in this book are adapted from how Vannevar Bush at DARPA and Theodore Vail at AT&T’s Bell Labs handled and fostered loonshots
    1. Separate the phases
      1. Separate your artists and soldiers
        1. Create separate groups for inventors and operators: those who may invent the next transistor vs. those who answer the phone; those who design radically new weapons vs. those who assemble planes. You can’t ask the same group to do both, just like you can’t ask water to be liquid and solid at the same time
      2. Tailor the tools to the phase
        1. Wide management spans, loose controls, and flexible (creative) metrics work best for loonshot groups. Narrow management spans, tight controls, and rigid (quantitative) metrics work best for franchise groups
      3. Watch your blind side: nurture both types of loonshots
        1. Make sure your loonshot nursery seeds both types of loonshots, especially the type you are least comfortable with. S-type loonshots are the small changes in strategy no one thinks will amount to much. P-type loonshots are technologies no one thinks will work.
    2. Create dynamic equilibrium
      1. Love your artists and soldiers equally
        1. Artists tend to favor artists; soldiers tend to favor soldiers. Teams and companies need both to survive and thrive. Both need to feel equally valued and appreciated. (Try to avoid calling one side “bozos.”)
      2. Manage the transfer, not the technology: be a gardener, not a Moses
        1. Innovative leaders with some successes tend to appoint themselves loonshot judge and jury (the Moses Trap). Instead, create a natural process for projects to transfer from the loonshot nursery to the field, and for valuable feedback and market intelligence to cycle back from the field to the nursery. Help manage the timing of the transfer: not too early (fragile loonshots will be permanently crushed), not too late (making adjustments will be difficult). Intervene only as needed, with a gentle hand. In other words, be a gardener, not a Moses.
      3. Appoint and train project champions to bridge the divide
        1. Soldiers will resist change and see only the warts on the baby-stage ideas from artists. Artists will expect everyone to appreciate the beautiful baby underneath. They may not want have the skills to convince soldiers to experiment and provide the feedback that is crucial for ultimate success. Identify and train bilingual specialists, fluent in both artist-speak and soldier-speak, to bridge the divide
    3. Spread a system mindset
      1. Keep asking why the organization made the choices that it did
        1. Level 0 teams don’t analyze failures. Level 1 teams assess how product features may have failed to meet market needs (outcome mindset). Level 2 teams probe why the organization made the choices that it did (system mindset). They analyze both successes and failures because they recognize that good outcomes don’t always imply good decisions (got lucky), just as bad outcomes don’t always imply bad decisions (played the odds well). In other words, they analyze the quality of decisions, not just the quality of outcomes.
      2. Keep asking how the decision-making process can be improved
        1. Analyzing a product or a market may be technically challenging, but it is a familiar and straightforward exercise. Analyzing why a team arrived at a decision can be both unfamiliar and uncomfortable. It requires self-awareness from team members; the self-confidence to acknowledge mistakes, especially interpersonal ones; and the candor and trust to give and receive delicate feedback. The process is likely to be more efficient, and less painful, when it is mediated by a neutral expert from outside the team.
      3. Identify key influences – people involved, data considered, analyses conducted, how choices were framed, how market or company conditions affected that framing – as well as both financial and nonfinancial incentives for individuals and for the team as a whole. Ask how those influences can be changed to enhance the decision-making process in the future
      4. Identify teams with outcome mindset and help them adopt system mindset
    4. Raise the magic number
      1. Reduce return-on-politics
        1. Make lobbying for compensation and promotion decisions difficult. Find ways to make those decisions less dependent on an employee’s manager and more independently assessed and fairly calibrated across the company.
      2. Use soft equity (nonfinancial rewards)
        1. Identify and apply nonfinancial rewards that make a big difference. For example, peer recognition, intrinsic motivators
      3. Increase project–skill fit (scan for mismatches)
        1. Invest in the people and the processes that will scan for a mismatch between employees’ skills and their assigned projects, and will help managers adjust roles or employees transfer between groups. The goal is to have employees stretched neither too much nor too little by their roles.
      4. Fix the middle (reduce perverse incentives for middle managers)
        1. Identify and fix perverse incentives, the unintended consequences of well-intentioned rewards. Pay special attention to the dangerous middle-manager levels, the weakest point in the battle between loonshots and politics. Shift away from incentives that encourage battles for promotion and toward incentives centered on outcomes. Celebrate results, not rank.
      5. Bring a gun to a knife fight (engage a chief incentives officer)
        1. Competitors in the battle for talent and loonshots may be using outmoded incentive systems. Bring in specialist in the subtleties of the art – a chief incentives officer.
      6. Fine-tune the spans (wide for loonshots groups; narrow for franchise groups)
        1. Widen management spans in loonshot groups (but not in franchise groups) to encourage looser controls, more experiments, and peer-to-peer problem solving
    5. For anyone championing a loonshot, anywhere:
      1. Mind the False Fail
        1. Is a negative outcome due to a flaw in the idea or the test? What would you have to believe for it to be a flaw in the test? How might you evaluate that hypothesis
      2. Listen to the Suck with Curiosity (LSC)
        1. When you have poured your soul into a project, you will be tempted to argue with critics and dismiss whoever challenges you. You will improve your odds of success by setting aside those urges and investigating, with genuine curiosity, the underlying reasons why an investor declines, a partner walks, or a customer choose a competitor. It’s hard to hear no one likes your baby. It’s even harder to keep asking why
      3. Apply system rather than outcome mindset
        1. Everyone will make wrong turns in navigating the long, dark tunnel through which every loonshot travels. You will gain much more (and feel much better) by trying to understand the process by which you arrived at those decisions. How did you prepare? What influenced you? How might you improve your decision-making process?
      4. Keep your eyes on SRT: spirit, relationships, time
        1. When championing a loonshot, it’s easy to lose sight of what’s important, of why you are doing with what you are doing. A little obsession can be good. Too much can backfire. What’s helped me, on occasion, to pull back from the edge – to create a more sustainable and productive level of obsession – is stepping back to think on SRT

What I got out of it

  1. A beautiful and powerful framework for how to foster and handle loonshots. Important for any size company or venture