I had a spirited chat with a friend this week about a house in Atlanta that just hit the market. We debated how long it will take to sell. I think it will sell within a week, and my friend thinks it will take a few months. Surprised, I dug into his why. He things it’s overpriced and that a price reduction will be needed to move it after it sits unsold for a few weeks. I think the price is fair. The true disconnect is what we think the house is worth.

After more back and forth, I got to the root of our disagreement. I’m bullish on Atlanta. I think the city offers qualities other major metros can’t that make it a place people see themselves settling down in and calling home for the long term. And pandemic dynamics contribute to it being a desirable destination. Home prices reflect this and are likely to continue increasing for the foreseeable future. I believe that prices are fair relative to where they’ll be in the future.

My friend has lived in Atlanta for a long time. He remembers a glut of houses on the market after the financial crisis and some now-trendy neighborhoods being seedy. He believes Atlanta is in a real estate bubble and prices will drop at some point. In other words, he believes current prices are inflated relative to historical prices.

As I reflected on our conversation, I realized that we had different perspectives: I was focused on the future, and he was focused on the past.

Looking at an opportunity, I’m a fan of future thinking. I wasn’t always like this. Flipping this mental switch transformed how I analyze opportunities. I’m able to see opportunity and capitalize on it because I can still see it as “cheap.” If things go as I predict, the asset will increase in value, and I will have gotten a deal at its current price. It’s irrelevant that I didn’t buy at the cheapest historical price, a consideration that I view as a mental trap.

I’ve noticed a pattern recently. I was working on something and couldn’t make a decision as quickly as I wanted to. Stopping to think about this, I realized a few things.

When I’m doing something familiar, gut instinct carries more weight in my decision-making. I know quickly what I want to do, even with little information. I may not be able to articulate my reasoning beyond listening to my gut, but I’m still confident in the decision. This is the zone I operated in as a founder for many years. I didn’t start off like this, but as the company grew, I gained confidence in my intuition and decisions.

When I’m doing something unfamiliar, it takes longer to decide what I want to do. I have a gut instinct, but it feels more subtle. To compensate, I try to gather more information that will help me make a decision I can be confident about.

My instincts are usually accurate in either situation, and I’ve historically been able to trust my gut and decide. But I haven’t been exercising this skill enough lately, and that’s affecting my decision-making in unfamiliar situations. I want to listen to my gut in all situations, so I’m going to experiment with exercises to help me get back to the old me: trusting my gut and making a decision, regardless of the situation.  

Today marks the end of my eighty-first week of working from home (mostly). Here are my takeaways from week eighty-one:

• Leaning in – I’ve had pretty good gut instincts historically but don’t always listen to them. This week, I reminded myself to trust my gut more and be more intuitive.
• Closing window of opportunity – I’ve written about this. This week, I had a great chat with a friend about it, which reminded me that I need to treat opportunities with closing windows as top priorities.
• Pace – This week was busy. And full of lots of good things too. The rest of October will probably be supremely busy because of how much there is to get done before the holidays.

Week eighty-one was a hectic week, but a good one. I’m getting myself ready for this to continue for the next few weeks.

I recently listened to a guy tell the story of how he landed a difficult-to-obtain job. He wielded unconventional tactics that included cold emailing his soon-to-be boss. Now he has a coveted job he’d been trying to get for years. When I asked why he took such bold steps, he said he had nothing to lose. Hearing “no” was the worst that could happen.

I love his perspective and perseverance. He knew what he wanted and went after it. He didn’t let rejection stop him.

Talking to him was a good reminder that if I want something in life, I should go after it. I may not get it on the first try, but if I keep at it, my chances of success will go up.

Wayne Gretzky said it best: “You miss 100% of the shots you don't take.”

Personal finance has been a hobby of mine since high school. When I hear founders solving for problems in this area, I’m always interested. Today a founder shared some interesting insights that got me thinking. One of the biggest challenges I’ve seen is that most tools to help people manage their finances are outside the normal consumer flow. If you want to save for a big purchase or just stick to a budget, it can be difficult. Part of the challenge is that these tools are usually independent apps that the user utilizes after a transaction has occurred.

Digital wallets on smartphones are gaining traction. I believe that in the not-so-distant future, we will no longer carry a wallet in our purse or back pocket. Everything—driver’s license, credit cards, etc.—will be in our digital wallet. The digital wallet will be how we make purchases, and it will become the center of gravity for consumer purchases. When that happens, we’ll see the next evolution of personal finance tools, because they’ll be built into the consumer’s purchasing flow. They’ll be able to affect the buying decision before it’s completed. This could lead to sustained behavior change, which many of us desperately need if we’re to improve our financial situation.  

I’m not sure when the digital wallet will be adopted by the masses, but when it is, it could have a big impact on consumer spending habits.

I’ve been told by friends and family that I’m good at staying focused on an objective. I wouldn’t have said that about myself, but after hearing it from a few people I spent some time reflecting. It’s true that historically I’ve been able to tune out distractions more easily than other people can. Sometimes I barely notice something that’s driving others crazy.

I’m a goal-oriented person, which has a big influence on how I navigate any situation. I think about it in terms of my goal. Will it affect my achieving the goal? If not, I don’t worry about it—I don’t put much weight into it and let it play out. If it will, I determine if it will help or hurt my chances of achieving my goal. I lean into things that support my goal and look to mitigate things that could hinder me from reaching my goal.

Time and energy are finite resources. This approach helps me focus them where they matter most: my goal.

A friend asked me to sit in on a chat with a founder. At the end of it, my friend asked if I thought the founder was right or wrong about the problem and his plan to solve it. I told him I had no idea.

I tend to be more interested in how someone arrived at a conclusion than the conclusion itself. Why they want to do things a certain way is more interesting to me than what they want to do. I shared this with my friend and told him that I think (at least based on this short conversation) that the founder has a solid thought process. He could be right or wrong initially. But his thought process will likely lead to eventually figuring things out and being successful.

Having a strong opinion is a great founder trait, but why you have that opinion is more important. As your share your vision and how you plan to execute it, consider sharing the why too.

I listened as an investor described what he’s seeing in the world of investing: a “land grab for high-quality assets.” He’s been an investor for years, so I was curious to hear his definition of high quality, which turned out to be a rapid growth rate that can be sustained. He doesn’t think a specific number defines rapid growth; rather, grown is relative to others in the sector or business model. As for the meaning of sustained, he wants to see a path to maintaining the growth rate for at least three years.

His perspective is interesting. I’m not sure I agree with all of it, but I respect it. Sustained growth is great, but combining it with profitability is even better, in my book. I’m not saying that a company has to be profitable to be great, but sustained rapid growth and profitability is an amazing combination that’s difficult to achieve. The companies that have it are the ones I view as being in a league of their own.

I was asking a founder what he’s been up to. He gave me an update on the last few months, including something that’s not going well. His conversations with potential customers aren’t yielding the results he expected.

As we dug in, I realized a few things. He’s being told that his solution is lacking. It isn’t solving the problem well enough, so potential customers aren’t committing to trying it. Getting told that his baby is ugly is frustrating him. He’s not taking rejection well at all.

I reminded him that regardless of what prospects tell him—yes or no—the why is what’s most important. If multiple prospects turn into customers for the same reason, he’s likely hit on something and should lean into it. If multiple prospects tell him no for the same reason, his solution is missing the mark, and he should figure out how to address their concerns in the solution.

Bad feedback is part of the entrepreneurial journey. How you perceive it, though, is within your control and can be the difference between success and failure. Next time you don’t hear what you want, try to understand what it will take to get prospects to a yes.

Today marks the end of my eightieth week of working from home (mostly). Here are my takeaways from week eighty:

• Connecting – Had an opportunity to connect with folks in person this week. It was good, and it energized me. Zoom is time efficient, but face-to-face conversations can’t be replaced.
• New beginnings – I spoke with a few people this week who are starting new chapters. It feels like lots of people are starting or getting ready to start new things. I’m excited to support them and can’t wait to see where they end up.
• Feedback – I continued connecting with friends to get feedback on things I’m thinking about. I’m very thankful that I have people in my circle I can count on for great perspectives.  

Week eighty was an energizing week. The quarter is off to a good start. Looking forward to continuing the pace next week.

‍