The Wise Words Actionable Newsletter #5
Get motivated with our top actionable idea of the week and start making a change!
Greetings Wise Wordians!
Welcome to the newest edition of the Wise Words Actionable Newsletter! Whether you're joining us for the first time or you're a returning reader, our goal remains the same: to deliver one actionable insight from an influential book each week, giving you a practical tip to apply in your daily life. Let's dive in!
📚 Book Spotlight: Optionality by Richard Meadows
This week, we have taken an actionable idea from Richard Meadows book "Optionality” which explores the value of keeping your options open. Meadows delves into strategies for reducing dependency on any single path, job, or perspective, advocating for a flexible approach to life and decision-making.
The idea this week will help you diagnose the highest leverage investments or expenses (depending how you look at it) you can make. If you want to see more of the ideas from Optionality check out our full book summary here!
🚀 One Actionable Idea: Deciding on the things that are Worth Investing Money In
The single most powerful way to open up your options in life is to a) have more money, or b) require less of it in the first place. Frugality requires us to decide what is actually worth deliberating over in the first place—to choose what to choose.
There are two categories of items that Richard Meadows identifies as the best use of our money.
First, focus on everyday essentials: your laptop, phone, desk, keyboard, and professional tools. If you love cooking, quality knives and pans are a good investment. Since you spend a lot of time in bed, a high-quality mattress is essential. This also applies to art and other items you use daily.
Second, invest in items related to safety and risk prevention. It's crucial not to skimp on things like helmets, safety equipment, car tires, condoms, or anything else that safeguards your life and well-being.
✨ Your Challenge:
Now it's your turn! Take a moment to reflect on how you are spending your money and if you can use your money in these two categories more often. Share your thoughts, experiences, or questions with us on Instagram using #actionablewisewords. Let's create a community of action-takers!
❓Question of the Week:
Our top question for this week is:
What problems do people keep complaining about?
It has several potential use cases, including but not limited too:
Market Opportunity Identification: Discovering prevalent issues can reveal gaps in the market, offering opportunities for new products or services.
Customer Satisfaction Enhancement: Addressing common complaints can significantly improve customer satisfaction and loyalty.
Innovation and Improvement Focus: Understanding these problems can drive innovation, leading to improvements in existing offerings or practices.
Problem-Solving Skills: It encourages a problem-solving mindset, fostering creativity and critical thinking in finding effective solutions.
So, give it a try today and start thinking about all the complaints that people are making as opportunities / problems to solve.
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We hope you enjoy implementing this week's actionable step! Remember, small changes lead to big transformations. Until next time, happy reading and thriving!
Until next week,
Jes and Tristan