21 Principles To Fast-Track Business Success

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The most impactful lessons come from pain, not gain.

Throughout my 4-year business journey, I've encountered a mix of setbacks and triumphs. From these experiences, I've distilled a set of 21 principles that can guide you on your quest for success and avoid unnecessary difficulties in your entrepreneurial journey, as well as in any professional or personal endeavors you choose to pursue.

#1: Operate like a barbell; everything in the middle is boring, similar, or over-optimized.

It's easy to get caught in the middle ground, where you blend in with the competition. Embrace extremes and stand out, whether it's in innovation, creativity, or problem-solving.

#2: If it feels cringe, don't do it, no matter how great the results could be.

Your brand's integrity and authenticity are paramount. If a marketing tactic or decision doesn't align with your values, it's not worth pursuing, regardless of potential gains.

#3: Good advice never tells you what to do; it shows you what could happen and then lets you choose.

Seek advice not to be told what to do but to gain insight into the potential consequences of your choices. Ultimately, the decision is yours to make.

#4: You are always the biggest bottleneck.

Recognize that your limitations can hinder your growth. Identify areas where you can delegate, automate, or improve to overcome this bottleneck.

#5: Be patient with results but impatient with people.

Success takes time, but don't revolve your actions around other people’s schedules and priorities. They will never align, and all you’re doing is holding yourself back.

#6: Your ego is a killer, so be curious, not judgmental.

Keep your ego in check; it can blind you to valuable insights. Cultivate curiosity, open-mindedness, and a willingness to learn.

#7: Everything is negotiable; don't take anything at face value.

There's room for negotiation in almost every aspect. Don't accept the status quo; explore opportunities for better deals.

#8: First, find what makes you different, and then relentlessly pursue better.

Identify your unique selling proposition — learn to become competition-less. Then continuously strive for improvement and innovation to protect your moat.

#9: Speak to one person even if you are speaking to a group.

Personalize your communication to connect with your audience on an individual level. This fosters engagement and resonates more effectively.

#10: If you cannot articulate the problem, you cannot solve the problem.

Clear problem definition is crucial in business. Without it, you'll struggle to find effective solutions. Take the time to understand and express the issues at hand.

#11: Simple does not mean easy; it represents deep understanding.

Simplicity in processes and strategies often reflects a profound understanding of the subject matter. Smart is simple.

#12: Reduce friction; it's the special sauce.

Streamline processes, eliminate unnecessary steps, and reduce the friction for your clients and your business. The simpler and easier the solution, the more you get paid.

#13: Knowing the rules of the game will always give you an advantage.

This is more than just knowing the rules, regulations, and laws that govern your work...this is about checking our assumptions at the door. Most people assume they “know,” but they don’t. For example, over 95% of the tax code is written to stimulate wealth, not increase your taxes. Taking the time to understand of the real rules will help you, not hinder you.

#14: Use what you learn; otherwise, it's a waste of time.

Continuous learning is invaluable, but it's only beneficial when you apply what you've learned. Implement new knowledge and adapt your strategies accordingly.

#15: Leverage Parkinson's law and the Pareto principle whenever you can.

Parkinson's Law (work expands to fill the time available) and the Pareto Principle (80% of results come from 20% of efforts) are powerful tools for productivity and efficiency. Apply them strategically.

#16: Master how to learn, think, and communicate, and you can literally do anything.

These skills are the foundation of success in any endeavor.

#17: Everything is a remix.

Originality is often a result of combining existing ideas and concepts in new and innovative ways. Don't be afraid to draw inspiration from various sources and create your own version. The simplest way to create value is to share insights, not just information.

#18: Writing is not about going from start to finish.

Writing, like problem-solving, benefits from iterative processes. Don't expect your first draft to be perfect; embrace revisions and improvements.

#19: Being effective is more important than being efficient.

Efficiency is about doing things right, while effectiveness is about doing the right things. Focus on priorities and achieving your business goals.

#20: Taking notes is an insurance policy on your meeting and thinking time.

Leveraging a great notetaking system is a safeguard against memory lapses and hours already invested. It's remarkably undervalued.

#21: Time is not a resource; it's a measurement; attention and energy are your real resources.

Attention and energy are where you have control and leverage. And that’s important because leverage is a force multiplier. Use them wisely to get (rich without getting lucky).

Use these 21 principles to serve as your guiding light. Embrace them, adapt them to your specific circumstances, and let them steer you toward success.

Keep learning, stay curious, and never stop pursuing excellence in your endeavors.

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Welcome to Impact Thinking.

Hi, I’m Peter. I quit my highly-regarded, 6-figure job at Harvard to build a strategy consulting company in 2019.

Hard work is a respectable characteristic, but it’s limiting. You need leverage. And I’ve seen first-hand that thinking is the greatest form of leverage.

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