Podcast Summary
Confronting Fear, Embracing Pressure, and Capitalizing on Opportunities: Face your fears, excel under pressure, diversify your skill sets, and stay curious to seize opportunities for personal and professional growth.
Ben Aspirin's interview highlights the importance of facing fear and embracing pressure in order to excel in any competitive field. As a renowned MMA fighter, he talks about how fighters have to deal with intense fear and perform under immense pressure during fights. This insight applies to various aspects of life, where fear and pressure can hinder success. Ben also emphasizes the significance of leveraging personal brand and expertise to build a business post-career, showcasing the importance of diversifying skill sets and exploring new opportunities. Furthermore, his involvement in the crypto space demonstrates the value of staying curious and open to exploring emerging industries. Overall, Ben's story inspires individuals to confront their fears, adapt to new challenges, and capitalize on opportunities for personal and professional growth.
Ben Askren's journey: From Olympic wrestler to business learner and adaptor.: Success in one field doesn't guarantee expertise in another. Continuous learning and adaptation is key for personal and professional growth.
Ben Askren's transition from wrestling to business showcases the importance of continuous learning and adapting. Despite being a master in his craft as an Olympic wrestler, Askren recognized the need to expand his knowledge and skills in the business and finance world. He actively sought opportunities to absorb information and understand how the business side of things works. This highlights the value of being open to new experiences and constantly seeking growth, regardless of one's expertise in a particular field. Askren's journey serves as a reminder that success and mastery in one area does not guarantee expertise in another, and a willingness to learn and adapt is crucial for personal and professional development.
Twitter: Evaluating Authenticity and Intelligence: Twitter provides a quick and effective way to gauge someone's authenticity and intelligence, making it a valuable tool for evaluating individuals' character and background.
Twitter can be a powerful tool for determining someone's authenticity and intelligence. Ben Askren, a well-known UFC fighter, shared that he enjoys Twitter because it allows anyone to voice their opinions and engage in conversations. He believes that Twitter is an egalitarian platform where people can quickly determine if someone is genuine or not. Moreover, Shaan Puri, another participant in the conversation, mentioned that scrolling through someone's Twitter timeline can provide a better background check than any other method. This insight highlights the importance of social media in forming opinions about individuals and suggests that Twitter can serve as a valuable tool for evaluating someone's character and intelligence in a relatively short period of time.
The Value of Authenticity in a Social Media World: Being true to oneself and embracing authenticity can lead to respect and support from others, both personally and professionally.
Authenticity is highly valued in today's social media-driven world. People can quickly discern whether someone is being genuine or fake, and they appreciate individuals who are authentic. This is evident in the case of Lance, who had to maintain a facade for many years but now desires to act normal and showcase his true self. The documentary on Lance Armstrong received praise because he openly admitted his mistakes and shortcomings, demonstrating authenticity. It's crucial to be true to oneself and not let ego dictate one's actions or be tied to outcomes. This lesson applies not just in personal matters but also in business ventures, as launching and building something may be intellectually manageable but emotionally challenging. Adopting an authentic approach can earn respect and support from others.
The Importance of Mental Preparation and Passion in Pursuing Success: Finding your zone and staying relaxed before competing, investing in mental well-being, and having personal passion and mindset are crucial for success in any endeavor.
Finding what works best for you in terms of mental preparation is crucial for success. Ben Askren, a former wrestler and mixed martial artist, emphasizes the importance of staying relaxed and enjoying the moment before competing. He mentions that he is an overthinker and learned early on in his career to find his zone and take his mind off the task at hand. Askren values his mental preparation so much that he would fly someone to Asia just to have them in the locker room with him, providing support and helping him get in the right frame of mind. This shows that investing in mental well-being can have a significant impact on performance. Additionally, Askren mentions that he genuinely enjoyed competing and didn't experience the fear and negativity that other fighters may have felt. This highlights the importance of personal passion and mindset in pursuing any endeavor.
The drawbacks of rituals and superstitions in performance: Instead of relying on rituals, focus on gaining experience and developing the skill of performing under pressure.
Rituals and superstitions can actually be counterproductive and hinder performance. While some may find comfort in specific routines or lucky charms, relying too heavily on them can become a weakness and create a sense of vulnerability. Instead, it is more important to develop the skill of competing or performing in high-pressure situations. This skill can be honed through experience and exposure to a variety of challenging scenarios. Wrestlers, for example, often have an advantage in mixed martial arts because they have frequently competed in front of large crowds and faced numerous opponents. So, rather than depending on rituals, individuals should focus on gaining as much experience as possible and becoming proficient at performing under pressure.
The Path to Mastery and Success Key Takeaway: True mastery and success in any field requires dedicated practice, perseverance through challenges, and continuous improvement.: Subtitle: The Path to Mastery and Success True mastery and success in any field requires dedicated practice, perseverance through challenges, and continuous improvement.
Mastering a skill requires time, effort, and the ability to persevere through challenges. Whether it's becoming a better speaker or launching a business, the process of achieving success follows a similar blueprint. It's not enough to simply enjoy something and dabble in it. True mastery comes from dedicated practice and continuous improvement. Just like the example of playing racketball, initial excitement can quickly fade when faced with more skilled opponents. However, those who stick with it, overcome adversity, and hone their abilities will ultimately achieve greatness. This applies not only to specific skills, but also to the broader goal of becoming successful in any chosen field.
The mindset shift to achieving mastery: Embrace plateaus, pivot, and enjoy the journey to achieve mastery in any field.
Achieving mastery in any field requires a mindset shift. Many people start off as dabblers, trying different activities but giving up when faced with challenges. Others become achiever grinders, pushing through with grit and stress, but lacking fulfillment. The true masters, however, approach their journey with a different perspective. They understand that success is not a constant upward trajectory, but rather a series of plateaus and growth spurts. They embrace the plateaus as opportunities for learning and improvement, welcoming them like old friends. Masters also recognize that innovation and pivoting are key elements of their journey, whether it means creating something new or simply doing something new for themselves. By adopting the mindset of a master, we can navigate the ups and downs with resilience and enjoy the process of achieving mastery.
Strategies for Success: Pivoting, Goal-Setting, and Maximum Effort: Adapt, set high goals, work relentlessly, but remember to plan and manage your finances wisely for long-term stability in any career.
Success in any field requires a combination of strategies, including pivoting, setting ambitious goals, and giving maximum effort. Ben Askren emphasizes that sometimes you need to change your approach, adapt, and pivot to overcome failures. He also highlights the importance of setting high aspirations and striving to be the best in your chosen field, just like he did in wrestling and MMA. Askren's experience suggests that achieving great success requires dedication, hard work, and a relentless pursuit of excellence. However, it's important to recognize that not everyone in every industry will attain financial stability, even if they are skilled and well-known. Askren's cautionary example of fighters like Mike Perry underscores the need for financial planning and smart money management, regardless of success in a particular career.
Financial Insecurity in the UFC: Most UFC fighters struggle to make a sustainable income, face financial instability, and need to plan for retirement and seek alternative sources of income beyond their fighting careers.
Fighters in the UFC do not have as much financial security as one might expect. While there are a select few who can earn millions of dollars per year, the majority of fighters struggle to make a sustainable income. It is not uncommon for fighters to go bankrupt, even at the top level of the sport. UFC fighters face several challenges that contribute to this financial instability. They are independent contractors, not employees, and only get paid if they fight. They have limited options to leave the UFC due to contractual obligations. This lack of leverage makes negotiating fair compensation difficult. Ultimately, fighters need to plan for their retirement and ensure they have alternative sources of income beyond their fighting careers.
MMA Fighters and Financial Success: Exploring Additional Avenues: Being a successful MMA fighter doesn't guarantee financial stability. Diversifying income through public speaking or other business ventures may be necessary to supplement earnings in this field.
Being a professional MMA fighter, especially in the UFC, does not guarantee a lucrative career. The baseline salary in the UFC is relatively low, with fighters earning 10,000 to show up and an additional 10,000 to win, all while having to cover their own expenses like insurance, coaching, and taxes. Even winning your first three fights in the UFC does not result in substantial financial gain, as the demand for fighters is high and the supply is overwhelming. On the other hand, owning and operating a wrestling gym can generate more revenue, but it is limited by the availability and schedule of the athletes. Therefore, for financial success in these fields, it may be necessary to diversify and explore additional avenues such as public speaking or business ventures.
Leveraging Expertise Beyond Business Success: Becoming a world-class expert in any field can lead to opportunities in public speaking and consulting, allowing individuals to monetize their skills and make a significant income.
Being world-class at something, even if it's not directly related to business, can open up opportunities for public speaking and consulting. This can be seen through the example of Chris Voss, a former FBI negotiator who became a renowned speaker and consultant after mastering hostage negotiation. Voss was able to leverage his expertise to teach negotiation skills to various industries and make a significant income without the need for physical infrastructure. This highlights the importance of expertise, regardless of the field, and how it can be applied to different contexts. It also emphasizes the potential for individuals to monetize their skills through public speaking engagements and consultancy, even without prior business success.
The Rise of Independent Media and the Potential Business Opportunity: The next 10 years will see a surge in individuals becoming their own media persons, with platforms like Rockfin offering payment in tokens and the potential growth of independent, non-traditional media.
There is a potential business opportunity in the rise of independent media. Ben Askren shares his belief that in the next 10 years, there will be a surge in individuals becoming their own media persons. He mentions his acquaintance who founded a company called Rockfin, which utilizes a payment algorithm on the blockchain where individuals are paid in tokens instead of dollars. This model allows for the potential growth in value as the company expands. Ben draws parallels from this idea to platforms like Uber or YouTube, highlighting the value of being an early participant in a digital network. Additionally, he emphasizes the decline of traditional legacy media and the potential rise of independent, non-traditional media in the next 5 years.
Challenges and Potential for Growth: The Journey of Rockfin: Despite facing challenges and a lack of understanding, Rockfin can learn from successful platforms and attract more users by overcoming hurdles and promoting the potential value of being early adopters.
Rockfin, a platform similar to OnlyFans but for athletes, faces challenges in its growth and adoption. While they have a unique business model, with subscribers paying a monthly fee to access all content creators on the network, their user base has not seen significant growth. Additionally, there is still a lack of understanding among people regarding the value of being paid in tokens rather than dollars. Many see this as a negative rather than a positive aspect. However, examples like YouTube and Uber show the potential value and wealth that can come from being early adopters of such platforms. To succeed, Rockfin needs to overcome hurdles and attract more users to its network.
Leveraging Incentives for Network Effect: Offering tokens or equity as incentives to early adopters can drive growth and engagement, as seen in the success of companies like PayPal, Ethereum, and Reddit. Startups can utilize this strategy to challenge established platforms.
Utilizing tokens or equity as incentives to bootstrap a network effect can be a powerful strategy for new platforms trying to compete with established giants. This approach encourages early adoption and participation by rewarding early adopters with more tokens or equity, creating a sense of exclusivity and value. Companies like PayPal, Ethereum, and Reddit have seen success in implementing this strategy, driving significant growth and engagement. For example, Juno, a ride-hailing service, offered shares or rewards to early drivers, leading to its acquisition for $200 million. Similarly, jet.com rewarded users with equity, resulting in significant stock returns when acquired by Walmart. By leveraging these mechanisms, startups can effectively build and expand their networks to challenge established platforms.
Innovative engagement strategies and ownership incentives in digital platforms and beyond.: By offering ownership opportunities and tokenizing contracts, individuals can benefit from immediate rewards while contributing to the future success of a platform or project. Blockchain technology opens up new possibilities for creating and calculating value.
There are innovative ways to engage users and provide them with ownership incentives. Companies like Ben & Jerry's and Sam Adams have successfully raised funds by offering local citizens the opportunity to become owners of their shops or receive stock certificates. This concept can be applied to digital platforms as well, with early users receiving more benefits and potentially becoming owners of the platform. Additionally, the idea of tokenizing contracts, such as athletes tokenizing their lifetime earnings, is an interesting concept that allows individuals to capture immediate rewards while giving away some of their future upside. The use of blockchain technology opens up new possibilities for creating value and calculating network worth. Looking forward, there is potential for more creative solutions to problems, such as developing biometric guns for police officers to enhance safety and prevent unauthorized use.
Recognizing and Supporting the Challenges Faced by Police Officers: Supporting law enforcement through technological innovations can alleviate their concerns and help them protect communities while ensuring their safety and well-being.
The job of a police officer is incredibly difficult and often dangerous. It is important to recognize and appreciate the challenges they face on a daily basis. While there may be a few bad apples among them, there are also many dedicated and exceptional officers who work tirelessly to protect their communities. Finding ways to make their jobs easier and safer, such as implementing technological innovations like fast reliable biometric data and touch ID triggers, can alleviate their concerns and help them return home to their families at the end of each day. Supporting and valuing law enforcement is crucial for a functioning society.
