I've fairly recently discovered this concept of a "moat", even though competitive advantage and all the other arguments in your article have been around for a long time. Somehow "moat" describes this position better. Thanks for the write-up.
Thank you so much for sharing great insights with us, Erik!
I was in ODF9 and I often read this article to keep reminding myself of what matters in my life.
Here's a list of my highlights that I really resonated with from this article and my notes:
* Ask others: What’s something that’s easy for me to do but hard for others? What's something I have that’s very difficult for people to reverse engineer?
=> Note: this is very important questions!
* Some other hacks to build moats include picking something that isn’t big now, but will be in the future (e.g. crypto in 2016), something that relies on exclusive relationships that you can access (e.g. enterprise healthcare, access to LPs), or something that is legibly impressive or valuable but has no playbook. (e.g. Tyler Cowen, Tim Ferris, Elad Gil examples)
=> Note: I should be flexible on new things as a founder. Access.
* Should you specialize or generalize? Either could work, but you have to actually be good at something. That’s a key concept. If you’re a generalist, you want to be the best at the intersection of a few different skills
=> Note: I think I'm a generalist type of person. I keep looking for the intersection of a few different things.
Ikigai depends on the person and their situation. I'm curious if this map fully covers the case that the person needs to rely on other people's help due to their disabilities or any sicks... but have Ikigai in themselves according to Mieko's book. In the sense, "what you can be paid for" doesn't need to be the component for Ikigai.
I see. That's an interesting perspective. But from my experience, it makes sense that "what you can be paid for" is not necessary for keeping my ikigai. I guess that during the process that we're doing or pursuing something, we can feel ikigai. I see a similarity in the philosophy of Dao in ancient China.
The best moat comes from persistence and long term dedication. Engage with something wich is important for the world for which the world i snot ready yet, but you love to do and engages with your whole being. Subsidize "your habit", your "side hustle" with something adjacent, as Frank Herbert would advise you. When the time comes, you will be ready, and it cannot easily be re-engineered. There is no short term fix for levelling up what Long Term Attention can create.
It is like the joke, do all that with your lawn, but keep doing it for hundreds of years.
This is good. I think one of the best nuggets here is towards the end - sometimes it takes committing to specializing in something (even if it's not your ideal or final expertise) to build that moat.
Descriptively, I agree with this as a way of narrating the success stories of people. But prospectively, as a strategy, I much prefer Steve Jobs' quote on this: "You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future."
Erik, I'd appreciate if you would stop exposing these extremely valuable secrets. 😂
Maybe Erik's "moat" is sharing dope knowledge with others to better them.
Agree. Oversharing is generally a very, very good thing. :)
I've fairly recently discovered this concept of a "moat", even though competitive advantage and all the other arguments in your article have been around for a long time. Somehow "moat" describes this position better. Thanks for the write-up.
Thank you so much for sharing great insights with us, Erik!
I was in ODF9 and I often read this article to keep reminding myself of what matters in my life.
Here's a list of my highlights that I really resonated with from this article and my notes:
* Ask others: What’s something that’s easy for me to do but hard for others? What's something I have that’s very difficult for people to reverse engineer?
=> Note: this is very important questions!
* Some other hacks to build moats include picking something that isn’t big now, but will be in the future (e.g. crypto in 2016), something that relies on exclusive relationships that you can access (e.g. enterprise healthcare, access to LPs), or something that is legibly impressive or valuable but has no playbook. (e.g. Tyler Cowen, Tim Ferris, Elad Gil examples)
=> Note: I should be flexible on new things as a founder. Access.
* Should you specialize or generalize? Either could work, but you have to actually be good at something. That’s a key concept. If you’re a generalist, you want to be the best at the intersection of a few different skills
=> Note: I think I'm a generalist type of person. I keep looking for the intersection of a few different things.
Thank you so much again!
Reference: https://glasp.co/#/kazuki/?p=StPqvKX4hUlvfLV56q61
I've been calling my personal moat 'community builder', but I'm refining it more towards 'indie community builder'.
Thank you, Erik! I enjoyed reading this article and I put this in my newsletter that curates good reads of a week.
I think there's interesting perspective that connects this ikigai map and curation. The process of pursuing the career and curating something you think important is very similar. Ref: https://glasp.substack.com/p/ikigai-map-and-the-curator-economy
Thank you for sharing an interesting article, Kei!
Yeah, Ikigai is an interesting concept and I love the book written by Mieko Kamiya.
Based on her book, the Ikigai map used in this article doesn't cover the whole Ikigai case but it's still an easy way to think about it :)
That's interesting to hear. What's missing in this article?
Ikigai depends on the person and their situation. I'm curious if this map fully covers the case that the person needs to rely on other people's help due to their disabilities or any sicks... but have Ikigai in themselves according to Mieko's book. In the sense, "what you can be paid for" doesn't need to be the component for Ikigai.
I see. That's an interesting perspective. But from my experience, it makes sense that "what you can be paid for" is not necessary for keeping my ikigai. I guess that during the process that we're doing or pursuing something, we can feel ikigai. I see a similarity in the philosophy of Dao in ancient China.
Yes, that's what I meant and believe too!
this was a great read, thanks Erik
The best moat comes from persistence and long term dedication. Engage with something wich is important for the world for which the world i snot ready yet, but you love to do and engages with your whole being. Subsidize "your habit", your "side hustle" with something adjacent, as Frank Herbert would advise you. When the time comes, you will be ready, and it cannot easily be re-engineered. There is no short term fix for levelling up what Long Term Attention can create.
It is like the joke, do all that with your lawn, but keep doing it for hundreds of years.
This is good. I think one of the best nuggets here is towards the end - sometimes it takes committing to specializing in something (even if it's not your ideal or final expertise) to build that moat.
Everything is cumulative!
Descriptively, I agree with this as a way of narrating the success stories of people. But prospectively, as a strategy, I much prefer Steve Jobs' quote on this: "You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future."
Thoroughly enjoyed this Erik.
Amazing read, Thanks Erik!
Definitely interested in Jam access just signed up!
Amazing read, Thanks for sharing.