the magic of failing fast and often

Hi human,

With the end of daylight savings, we’re saying hello to early sunsets 🌅. If you’re feeling a productivity dip when it gets dark, you’re not alone.

A few ways I like to keep my productivity high is by planning my day to make the most of the daylight hours, bumping up the brightness in my place, and playing music to keep my brain in the zone.

The shift in time and seasons can affect our mood and productivity. Embrace this change, perhaps try out a new hobby, or simply take some time for self-care.

Here’s some food for your mind this week:

WELLNESS
Redefining Failure

James Dyson experienced 5,126 setbacks before finally achieving success with his bagless vacuum cleaner design. Over five years, he developed 5,127 prototypes, accumulating nearly $1 million in debt. Despite having no assurances of success, Dyson viewed each failure as a valuable lesson on the path to finding the right solution.

Rather than letting failure stop him, Dyson embraced it as a means of learning and discovery. Today, Dyson is a global brand known for its top-notch machines.

Instead of thinking of failure as the worst thing that could happen, see it as a step closer to success. If it takes 10,000 nos to get to yes, the trick is to fail fast and often.

💡 This week’s challenge

1. List all your failures. Make a list, extract the lessons, and instead of seeing those experiences as “failures” think of them as fuel for your journey.
   

2. Reframe the way you think about failure. Failure is a dynamic process of learning and growth. Each new attempt gets you closer to your goals.
   

3. Allow yourself to fail. Try new things, step out of your comfort zone, and embrace these moments for true growth and learning.

FINANCIAL WELLNESS
Invest Wisely by Avoiding These Common Mistakes

Navigating money mistakes can be overwhelming, but it’s a crucial part of learning. Here are some investing mistakes to be aware of, including a few I’ve faced myself. Keep these in mind next time you plan your investments 💸.

🔻 Common Investing Mistakes

1. Neglecting to start. Starting is always the hardest part, and procrastination often disguises itself as cautiousness. How many times have you put off taking that first step?
   

   
   Hesitation may come from good intentions, but it can lead to missed opportunities and slower wealth accumulation.
   
   

2. Having unrealistic expectations. It’s normal to dream big, but when expectations outpace reality, disappointment often follows.
   
   Set realistic goals and stay focused on the long-term journey. Avoid comparing yourself to others and remember that investing is a marathon, not a sprint.
   
   

3. Chasing Trends. It’s tempting to follow the latest opportunities for quick gains and instant gratification, but trends can be short-lived. 
   
   Take a more balanced approach to investing and always do your research.

🙅‍♀️ My Top Investing Mistakes

• Investing in businesses I didn’t understand. I invested in stocks simply because they were well-known names (ex. banks, airlines, restaurants). I didn’t understand their business models and overlooked the chance that they might not be as profitable as I thought.
  
  

• Not investing consistently. It was hard for me to prioritize investing. There were more enticing things to spend on and sometimes I didn’t have the budget. I missed out on potential ($$) growth, but setting up recurring investments and prioritizing investing in my budget has made a difference.
  
  

• Listening to the noise. I listened to stock analysts, market experts, and headlines without realizing they were playing a different game.  
  

❇️ This week’s challenge

Conduct a portfolio review. Take a closer look at your portfolio and compare this year’s performance to the last. Consider these questions:

• Do I know what I own?

• What’s my investment thesis for owning these companies/assets?

• How is the stock/company performing?

• Am I holding on to underperforming assets?

• Am I paying too much in fees?

There will be ups and downs in your financial journey. Your investment goals might also evolve. That’s perfectly fine. Embrace the changes and enjoy the ride!

Disclaimer: The views expressed in this newsletter are for informational and recreational purposes only. Nothing contained in this newsletter should be construed as investment advice.

INTERESTING FINDS
What’s New

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🎧 Brian Chesky on creativity, work addiction, and loneliness. In this episode of Diary of a CEO, Airbnb co-founder Brian Chesky takes us on the highs, lows, and pivotal moments in building Airbnb. (link)

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