Hello everyone,
Welcome to 2024. I wish you a year full of adventure, surrounded by amazing people, and a healthy one.
I often wonder what a new year really means. Do you ever get to think about it? I used to be more excited about a new year, but now I don't think too much of it. I like to think that every cycle has all four seasons and when you complete all four you start a new cycle. But hey, I understand the excitement of a new beginning - a new chance to start fresh and pursue your better version.
I would guess that New Year's resolution is a big thing when it comes to sales of "I'm going to change my life now" products, to the same extent as Father's/Mother's Day, Valentine's Day, and other commercial dates.
As for my resolution for 2024, I want to invest my time in creating an optimized daily routine, continue to explore my intellectual curiosity, and embrace the experimental and learning process of building WE.
One thing I have committed to is my sporting endeavors for the year: 70.3 Valencia in April, Madrid Marathon in April, and Ironman Florida in November - I may add more races to my calendar but these are the main milestones for what I hope will be my best season yet.
My Q1 Project: Psych 101 for Founders
In the first quarter of the year, I will be exploring a topic that has been on my mind for some time but which I have not spent much time on; the need for founders and leaders to understand basic human psychology.
If you think about the founder of a tech startup, they are building a company alongside people who are constantly dealing with internal and external stakeholders such as investors and suppliers, and whose sole objective is to serve the needs of their customers, who are people.
Put simply, leaders lead people to build the best solution for people.
I would like to explore the theory around this topic, including academic papers, books, and other media. I will also be interviewing leaders, psychologists, anthropologists, and others to gather their thoughts.
My goal is to create a Psych 101 for founders - how to better understand and connect with your people.
I don't want to write a book about it - yet - but I will share all my discoveries, ideas, and insights with you and I plan to organize the final material to publish it for free so the message can travel and help founders, leaders and employees.
And because I'm human and I'm living in 2024, I had to ask chatgpt - "Why should entrepreneurs learn about human psychology?" and I got the following: ....
“Entrepreneurs can benefit significantly from understanding human psychology for several reasons:
Consumer Understanding:
Knowing how consumers think, make decisions, and react emotionally helps entrepreneurs tailor their products or services to meet specific needs and preferences.
Understanding consumer behavior can inform marketing strategies, allowing entrepreneurs to create more effective advertising campaigns and improve customer engagement.
Effective Communication:
Entrepreneurs often need to communicate persuasively with various stakeholders, including customers, employees, investors, and partners. Understanding psychology helps in crafting messages that resonate and influence positively.
Team Management:
Entrepreneurial success often relies on effective team management. Understanding psychological principles helps entrepreneurs build and lead diverse teams, fostering a positive and productive work environment.
Negotiation Skills:
Entrepreneurs frequently engage in negotiations, whether with suppliers, clients, or partners. Knowledge of human psychology can enhance negotiation skills by allowing entrepreneurs to understand the motivations and perspectives of the other party.
Adaptability:
Entrepreneurial environments are dynamic, and being able to adapt to changing circumstances is crucial. Psychological insights can aid entrepreneurs in anticipating market trends, understanding customer feedback, and adapting their business strategies accordingly.
Risk Management:
Entrepreneurs often face risks and uncertainties. Understanding behavioral economics and decision-making processes helps in assessing and managing risks more effectively.
Innovation:
Successful entrepreneurship often involves creating innovative solutions to problems. Understanding human needs, desires, and behaviors can inspire creative thinking and the development of products or services that truly address market demands.
Emotional Intelligence:
Emotional intelligence is essential in leadership. Entrepreneurs with a good understanding of human psychology can navigate interpersonal relationships more effectively, leading to better collaboration and a positive company culture.
Customer Satisfaction and Loyalty:
Satisfied customers are more likely to become loyal customers. Knowing what drives customer satisfaction and loyalty, as well as understanding the psychology of customer feedback, can help entrepreneurs build lasting relationships with their clientele.
Resilience:
Entrepreneurship often involves facing failures and setbacks. Understanding psychological principles can help entrepreneurs build resilience, cope with stress, and maintain a positive mindset, crucial for long-term success.
In summary, a solid understanding of human psychology equips entrepreneurs with valuable insights that can be applied across various aspects of their business, from product development and marketing to team management and customer relations. It provides a foundation for making informed decisions and fostering success in the complex and dynamic world of entrepreneurship.”
I have stocked up for this trip and it will be a major part of my writing for the next few weeks.
My three favorite books of 2023:
Scaling People: Tactics for Management and Company Building
Hyperfocus: How to Be More Productive in a World of Distraction
Dr. Huberman delivers two great episodes in a row
Rick Rubin, world-renowned music producer of numerous award-winning artists, including Johnny Cash, Red Hot Chili Peppers, Beastie Boys, Adele, Eminem, Slayer, and many more.
[Insane 1.3M views in three days!!!] David Goggins, retired Navy SEAL, highly accomplished ultramarathoner, best-selling author, and influential public speaker. David explains how he mastered his inner dialogue to build extraordinary levels of discipline and mental and physical toughness.
Best from Linkedin
In 2003 LEGO was $800m in debt. But by 2015 they had $1billion+ in sales. What was at the heart of such a crazy comeback?
Patterns.[Mastering your homepage copy] There’s a lot to keep track of when nailing your homepage copy:
✅ Identify the right ICP
✅ Hone in on a key painpoint/problemMust-read for every venture studio founder and VC. This 21-page interview provokes rethinking of the basics of startup creation. 100% you'll disagree with something. These thoughts below are from a founder of a startup studio that launched 100+ deep tech startups in the last 10 years:
90% of routine tasks can be automated. As a busy CEO, I cut my 60-hour workweek in half using AI. Here are 8 powerful tools that I use daily:
1️⃣ChatGPT (GPT-4) + Claude 2: Not your average chatbots. They're personal assistants who never sleep. From drafting emails to brainstorming strategies, these two language models are my go-to for quick, intelligent responses.Series A went totally wrong for my startup :(
[Seed]
After graduating from 500 Startups & and raising seed, our mobile app startup pivoted into b2b saas.
We quickly found PMF, got a bunch of clients lined up, and our team was working 100 hours a week to deliver.⬛ Venture studios allocate 20-40%+ equity ownership, but are they a good bet? Here's what the data shows & best practices:
First, what's the difference between a venture studio and a startup studio?
Changing minds isn't about attacking people's views. It starts with seeking to understand their views.
"You're wrong!" signals arrogance and elicits defensiveness.
"I'm surprised to hear that. Can you walk me through your reasoning?" shows curiosity and invites thoughtfulness.
- Adam Grant
Two Great Ones:
Watch the Bill Maher video below and then read this summary below of the book “The Coddling of the American Mind”. They go well together. "The Coddling of the American Mind" is a book by Greg Lukianoff and Jonathan Haidt that examines a phenomenon in which young people, particularly college students, are becoming more fragile, sensitive, and prone to avoid challenging ideas or engage in open debate.
Victor Frankl wrote Man’s Search for Meaning after surviving a concentration camp during World War II. He observed the outer extreme of what happens to people who no longer have a WHY to live for.
Edited 4 hours after publication!
I was scrolling through Linkedin when I found an interesting article that led me to David Sacks' (PayPal Mafia and one of the hosts of our popular All In podcast) newsletter.
This article is perfect for B2B founders and will help them think through their sales strategy and how to set the right incentives. I highly recommend reading it and please share it with friends who are in the same situation.
I recommend it to my food friend Felipe Vieira, the founder of Networkme, as he is setting a very aggressive expansion for the company in 2024, including rapid growth in Brazil.
"Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth."
Marcus Aurelius
Hecho con amor en Madrid.
Love,
Dan