Transference /  by Alexander Lyadov

 

"If there is an excess of emotions, then there is a transfer," the therapist's words shed light on our group's dead-end discussion. Once, we argued with each other, only to later admit that we hadn't grasped the essence of the debate.

In psychology, 'transference' refers to the patient unconsciously projecting their past emotions onto someone unrelated to them. It appears as if the person is arguing with you, but in reality, you're not present there. It's an imaginary persona they've endowed with qualities important to them. It's like choosing a desired character in a video game and then customizing their weapons, armor, and so on. Unlike a game, it's not the interlocutor, but his (or her) subconscious that selects your avatar. He is unaware of it, hence the emotional tsunami catching him off guard. Without clear reason, he suddenly insults, devalues, shames, or accuses you of all sorts of sins. In those moments, it makes sense to ask, "What just happened here?"

The thing is, continuing the discussion is futile. Inside the person, a drama unfolds, and you're merely the trigger for it to start. Of course, there's a temptation to try helping him get rid of his illusions. But for that, you need the knowledge, skills, and experience of a psychotherapist. Also, you must have a clear reason why this matters to you. Finally, your interlocutor must strongly desire it himself. In any society, such individuals are rare. So, at the first signs of boiling emotions, your best strategy is to put the "dramatist" on ignore. Let this be a reminder for both you and me.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Your Balance /  by Alexander Lyadov

 

Imagine you're walking along a mountain trail near a cliff. Suddenly, you stumble and lose your balance. You can't just continue walking like nothing happened. Now, all your focus and strength go into regaining your balance. But why?

Falling means losing control over yourself. You become entirely at the mercy of gravity and chance. The active subject has turned into a passive object. Instead of a free individual, a slave. In essence, you cease to exist.

It is important to maintain balance - physically, intellectually, and spiritually. Many forces from the outside and within constantly try to shake and push us into the abyss. The bad news is that it's an endless struggle. The good news is that your priority is clear.

As John Danaher, a Brazilian jiu-jitsu coach, put it: "If you can disrupt your opponent's balance, everything else becomes easier. If you can't do that, even the simplest actions will always be difficult. The major part of this game is the battle to break the opponent's balance while keeping your own. Everything else follows from that.”

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Non-trivial Problem? Work Hard /  by Alexander Lyadov

 

Recently, I had a 10.5-hour session with an entrepreneur. Throughout, my focus was solely on the client. But such intensity comes at a cost. The following day, I feel off, like I'm unwell. The natural question arises, "Is this really necessary?"

I remember a book by Mircea Eliade, the historian of religions and ethnographer. He observed that when a shaman finishes a shamanic ritual, he is completely exhausted. It's no easy task searching for a lost soul in the afterlife. I also recall the shamans undergoing ayahuasca ceremonies in the jungles of Peru. Every night, they toiled like peasants in harvest-time.

For me, it's easier because I offer help in the real world. At the intersection of business and personal matters, as one client put it. Still, the problems that founders come to me with are far from ordinary. There's no ready-made template that can help here. Instead, several methods should be used simultaneously. Thus it becomes possible to see the contours of the problem and then describe its essence.

As the philosopher Eugene Gendlin wrote, "In order to ask our questions of the concretely experienced trouble itself we must go to it. We must pause and let it come in more. We must sense it clearly. We must touch it, tap at it, and wait for it to open and answer our questions." Like solving a Buddhist koan, in the moment of enlightenment (satori), everything becomes crystal clear. But first, we must become one with the question, and that's a colossal work.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
As a business therapist, I help tech founders quickly solve dilemmas at the intersection of business and personality, and boost company value as a result.

"I have an important business decision to make. Can you help me?
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Your Career Boost /  by Alexander Lyadov

 

Smart people don't fight for power within a company. It makes them show their worst qualities, and that's just too basic.

It's more interesting when other people beg you to take that power. They see your value, and you're not dependent on anyone. The choice is yours – accept it or do something else.

How do you achieve that? Take on more responsibility.

But for what? For the things everyone avoids – managers, leaders, and owners.

Here's the algorithm:

  1. Look at your company from an outsider's perspective.

  2. Make a list of all its problems, considering the consequences.

  3. Identify chronic issues that have been around for a while.

  4. Try to find the few that give rise to the others.

  5. Tackle the ones that intrigue you the most.

The advantage of this approach:

  • You have no competition in this territory.

  • People will appreciate any progress you make.

  • By solving the problem here, you can replicate the success anywhere.

  • Shareholders and CEOs will see you as a rare person who does care.

  • And congrats, you're now an intrapreneur.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Momentum in Entrepreneurship /  by Alexander Lyadov

The hardest part is starting something from scratch. You need activation energy. For example, it's the willpower to hit the gym, the effort to start a campfire, or the strike to hit the pool ball.

But once the process gets going, it rolls on its own momentum for a while. Now the task is to keep the process from dying out. Luckily, this requires much less effort.

Note that every joule of energy beyond that point will push the process forward. This way, your return on investment keeps growing. Optimal strategy, right? Yet some people harm themselves (I do it too). They start a new project and put a lot of effort into the initial phase. But then, as the process gains momentum, they switch to something else. But when they realize it, the first project has withered. So, it takes extra effort to bring it back to life.

There are many reasons for such destructive behavior. We need to identify a specific one to turn the harm into a benefit. Imagine a founder who excels at launching new business ideas. But when it comes to expanding corporate structures, he (or she) starts suffocating. Not knowing himself leads to depression due to a series of false starts. Another matter is when the founder embraces his nature. This allows him to plan for an early sale of the company. Or prepare for a smooth transition of responsibilities to a younger partner or a hired CEO.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Total Focus /  by Alexander Lyadov

Some entrepreneurs ruin their own businesses.

Though they are convinced they are doing everything well.

This happens when a tempting business opportunity arises. The founder decides, “No worries, I can give it 20% of my attention.” From that moment, the main business is compromised.

The mistake isn’t in assessing whether 20% attention is enough for the new project. In practice, it may demand 30% or even 50%. The misconception is that the main business only needs 80% attention. But that’s rare. Only if there are:

  • a strong team,

  • a stable market,

  • supportive shareholders, and

  • a well-established business model.

Any weakness in these aspects invites disaster. Just like an injured predator in the wild unable to hunt at full strength. The big question is whether it will survive or not.

The main business demands not 100% attention from the founder, but a full 200%. Yet, even that doesn’t guarantee success. Saying this doesn’t mean the entrepreneur can’t focus on anything else. We’ll talk about that next time.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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The Thorny Path of the Entrepreneur /  by Alexander Lyadov

Few want or can be entrepreneurs.

There are at least three reasons for that:

First, you have to manage intangible things. An accountant enters checks into a ready-made system following established rules. A top manager scales a model set up by someone else. Yet, a founder weaves a see-through cocoon of unseen threads for a butterfly yet to come.

Second, you must endure uncertainty. Started a coworking network? Get hit by Covid. Built a factory for your own cosmetics brand? Here comes a war. Your SaaS business doubled every year? Unfortunately, after the stock market correction, investors care about profits, not growth. The founder can't say, "I'm tired" and quit. He must create an island of stability, even when the whole world seems to be falling apart.

Third, you'll have to wait a long time to see results. The greater the time lag between action and consequence, the more the mind drowns in anxiety. It is hard to orient, learn, and adapt oneself. How to find motivation to conquer hardships before the breakthrough arrives in year 5, 10, or 15?

Not everyone needs to become an entrepreneur. But you will achieve more in business and life if you make progress in these three aspects.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Key Question /  by Alexander Lyadov

Louis Zansky

 

Why do so many people struggle to get into good shape?

They lack a clear answer to why.

Gym memberships, gear, community, and trainers won't help. After a week or a year, people will still give up on workouts. External pressure isn't enough for progress. You need inner drive.

The pull comes from the gap between what people crave and what they have now. So an archer's arrow isn't going anywhere; it's going to a specific target. In this realm of personal meaning, one cannot copy it from others or fake it.

For the same reason, people get stuck in their business or career. You can achieve mastery and become an expert only if a powerful force propels you forward. Its name is "I can't NOT do this thing."

It took me several decades to figure this out. Yes, that long. I had to navigate through many intellectual temptations and psychological traps. But this experience of mistakes and revelations wasn't in vain. Now it saves time and energy for my clients - entrepreneurs and CEOs.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Surgery vs. Rehabilitation /  by Alexander Lyadov

 

A rehabilitation specialist saves a surgeon's reputation. Interesting thought, right?

Imagine a patient undergoing knee surgery. Upon discharge, the surgeon advises a course of physiotherapy. But, deep down, the patient believes the main work is already done. So, he or she dives into their daily activities, ignoring the doctor's advice. Six months later, the patient complains the operation didn't work.

Five days after my release, I went to see a ​rehabilitation specialist​. He surprised me: "You could start the procedures and exercises as early as the next day." Inside the knee, there are no blood vessels. Instead, the cartilage gets its nourishment from synovial fluid. Under load, fluid seeps from the depths of the cartilage to lubricate. Otherwise, the fluid goes back in. By leading a sedentary lifestyle after the surgery, the patients are harming themselves. It's also crucial to strengthen the muscles and ligaments above and below the knee. This speeds up its recovery and protects the knee from new injuries.

For two weeks now, I've been training with the rehabilitation specialist. I'm doing unfamiliar exercises—from balancing and lunges to electrostimulation and self-massage. After the check-up, the surgeon felt content. And I must admit, I'm amazed by the results. Even in my youth, my muscles were never this strong and well-developed. A single thought haunts my peace. If I had loaded my legs like this before, I probably would not have needed the surgery in the first place.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Crystallization of Meaning /  by Alexander Lyadov

 

"Describe inquiry to me," is usually how I kickstart the initial business therapy session.

The entrepreneur opens up about what brought him (or her) to me. I listen without interruption. After twenty minutes, he admits that his story comes across as vague. I reassure him, "That's perfectly normal. Happens quite often."

The situation appears clear as long as it stays within us. The solution might not be present yet, but we're already acquainted with the problem, right? It's as though all we need to do is pinpoint a specific tool, approach, or method. This is where time and resources frequently go to waste, akin to searching for a black cat in a dark room. Thanks to Confucius, we know it wasn't there in the first place.

We truly grasp our own thoughts only when someone lends an ear. Even better if the listener mirrors back the essence of what we hinted at. The ideal scenario is when this cycle repeats multiple times. Consequently, the genuine inquiry takes shape. How do I know this?

At that instant, your mood lifts, energy surges, and you experience some relief. Why? Because your intuition senses progress. Now, you're on the hunt for the key in the exact spot where you lost it.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Why Being Paranoid? /  by Alexander Lyadov

Unknown photographer

 

What do you do when crossing the road at a complex intersection?

I look the oncoming drivers straight in the face.

You'd think I should be calm, as the traffic light is green for me, and the driver is obliged to let me go first according to the rules. Other pedestrians have enough of this knowledge, and they walk undisturbed without turning their heads. For me, however, the danger only passes when the pedestrian crossing ends, even if there are no passing cars.

Strangely enough, this behavior of mine is a result of riding a motorcycle. The thing is, a pedestrian and a motorcyclist are very similar in their vulnerability towards those steel machines ready to crush them at any moment. It's just that statistically, a motorcyclist feels their helplessness more often like a cheetah finding itself among a herd of elephants. To the one who got trampled, it doesn't matter who was right. Such asymmetry in the consequences of a collision makes the motorcyclist default to the assumption that everyone around is trying to kill him. That's why at the intersection, I look the drivers in the eyes to make sure they really see me.

Andy Grove, the founder and CEO of Intel, cleverly titled his book "Only the Paranoid Survive." Like a motorcyclist on the road, an entrepreneur also operates in an extremely aggressive environment. And the earlier stage the company is in, the more forces there are in the market, capable of crushing it by intention or by accident. Thus, the fundamental qualities for founders are:

1) recognizing their vulnerability,

2) being paranoidly vigilant, and

3) making difficult decisions quickly.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Creating In Desert /  by Alexander Lyadov

Sometimes I have no idea what to write.

Looking inside, I see an endless desert.

There's no sign of life, so even straining my vocal cords seems pointless. The desert remains deaf to both curses and pleas. The quiet rustling of sand induces drowsiness.

In such moments, self-awareness becomes crucial. Sometimes, it's better to stop resisting and take a "power nap. Thankfully, the ​NSDR protocol​ by Andrew Huberman is always available. After 15-20 minutes of this reboot, clarity dawns, and energy, ideas, and words appear out of nowhere.

Other times, it's just about observing drowsiness as it washes over and gradually recedes. It reminds me of the ten-day Vipassana meditation retreats in India. The voice of S.N. Goenka patiently explained that even the most tormenting sensations and thoughts inevitably lose their power. It turned out that absolutely everything happening within and around us can become an object of observation. All I had to do was accurately describe what I saw.

Now it's funny to remember that there was nothing to write about, right?

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Conquering the Current /  by Alexander Lyadov

A rip current - the deadliest coastal current. It emerges during low tide as the water retreats into the sea.

What's the typical mistake beginners make? In fear, they paddle against the current. As a result, they remain in the same place but quickly exhaust themselves. To survive, it's crucial not to resist the current but rather swim perpendicular to it, meaning parallel to the shore. After 20-50 meters the current dies down and you can easily reach solid ground.

Our resource is nothing compared to the power of the ocean. It is undoubtedly stronger than us, but we can act wisely. Instead of making a foolish choice - arguing with the elements or surrendering to them - it is better to choose a third option - explore them. Currents, epidemics, or market crises have a direction beyond which they are harmless or weak. By the way, the best jiu-jitsu trainers advise attacking opponents not head-on but from the flank or, even better, from behind.

Remember this the next time a serious problem overwhelms you. When our resources are limited, finding a point of leverage becomes paramount.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Don't Be There /  by Alexander Lyadov

 

How to protect yourself better from danger in business and life?

Don't be there.

That's the advice given by Rory Miller and Lawrence A. Kane in their book Scaling Force: Dynamic Decision Making Under Threat of Violence. The authors explain: "If you are not there you cannot get hit."

When I was learning to ride a motorcycle, I dedicated a lot of time to studying ​motorcycle accidents​ on YouTube. The helmet camera videos created the illusion that I was the one experiencing the mishaps. And even though there were no physical consequences, the unpleasant experiences left a significant mark on me.

Subsequently, while riding in the city, I would have a premonition in my body, thinking, "Oh, A, B, or C might happen now." Vigilance would awaken 2-4 seconds earlier than usual. It was enough time to maneuver or brake.

Essentially, safety directly depends on the distance between you and what (or who) is trying to harm or kill you. When a man tries to grab a shark with his bare hands, he closes the distance and loses his ​pinky finger​. Jumping from the roof of a tall building into a pool, this time the guy successfully ​lands in the water​, but with each stunt, statistically, he brings his demise closer.

On the other hand, by excluding people with suspected schizophrenia and psychopathy from your circle of communication, you eliminate unnecessary tragedies and dramas. Similarly, an experienced investor is primarily concerned with the guarantee of preserving investments, and only then the promised returns. During strategic sessions with founders, we deliberately explore negative scenarios to recognize their approach in a timely manner.

Conclusion: Learn where danger resides to avoid being there.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Managing Growth /  by Alexander Lyadov

Unknown photographer

 

"The definition of cancer is cell growth out of control," said ​Dr. Peter Attia​, a world-renowned longevity expert.

Such a perspective is sobering, especially when everyone around is obsessed with growth in various aspects - muscles, followers, or business assets.

Undoubtedly, the absence of development is suspicious. At best, it's a pause or a break, and at worst, it's a state of stagnation or death.

However, it doesn't mean that all growth is beneficial. The medical example above provides a criterion for when a malfunction occurs and why.

As long as growth serves its intended purpose, it's okay. For instance, increasing explosive strength is valuable for a wrestler to win matches. Similarly, it's gratifying when a retail network rapidly scales a proven format.

The problems begin when there is explosive growth, but it lacks an owner or regulator. This occurs during market booms, whether it was the tulip bulbs in the 17th century or the modern-day Bitcoin. Experts predict a wave of bankruptcies and restructurings for "successful" startups this year, which managed to attract massive investments based on a growing but economically unstable model.

It doesn't matter why control over the system was lost, whether it was due to fixation on surface-level metrics, lack of skills, or laziness. However, from that moment on, the system is doomed, like an ascending plane with a pilot who has ejected.

Conclusion: every time you witness rapid growth, don't rush to rejoice; instead, ask yourself, "Did I lose control or do I still retain it?"

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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When Does Growth Occur? /  by Alexander Lyadov

"You get fitter not during your workouts but rather after your workouts, in between your workouts."

The words of ​Andrew Huberman​, a professor of neurobiology at Stanford, sound paradoxical. After all, each of us remembers the excitement of trying a new sport, studying an important subject, or starting a job at a new company. In the hope of reaching the pinnacle as quickly as possible, we were willing to work tirelessly around the clock.

But by exerting stress on our bodies, we damage them. Immediately after a workout, we experience an extremely high level of inflammation, oxidative stress, and autophagy, which is the process of removing damaged cells. Fortunately, there is a phenomenon called homeostasis, which allows the body to constantly strive to restore its internal balance, overcoming resistance from the external environment. Anticipating that stress may occur again in the future, the body is compelled to change so that it becomes indifferent at the new level of equilibrium.

Essentially, this is a cycle of creative destruction and creation. Sacrifice something and progress will halt. The workload must be serious, that's clear. But rest is important not because it's enjoyable, but because it's during this phase that repair, adaptation, and growth occur. That's why, for example, Andrew Huberman suggests spending five minutes with your eyes closed after studying or working out. Like playing the game Tetris, this helps optimally arrange the fragments of new knowledge and skills in your mind.

You may be surprised that by training less frequently, you will actually get closer to your desired goals.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Beyond the Tangible /  by Alexander Lyadov

 

Someone will insist that there's nothing in this picture.

But you will surely laugh and say, "Come on! There are plenty of objects here!"

In the same way, the gaze of a master differs from that of a novice. The latter notices and values only what is tangible and literal, ignoring everything else. Every phenomenon needs to be held, measured, or treated with acid for the novice to admit, "Yes, this thing actually exists."

The word "reality" holds a different, broader meaning for the master. Through the celestial palette, they foresee an impending storm. By the engine's squeak, they recognize a breakdown and diagnose based on what the patient doesn't say.

An expert discerns the function through a barely perceptible pattern, rather than an obvious form. Thanks to this, there's a chance to prevent, preserve, or improve something. The advantage of the implicit state lies in its flexibility, allowing for much to be accomplished.

In this sense, entrepreneurs are intriguing because their activities often appear incomprehensible, dangerous, and foolish to those around them. It's obvious to the onlookers that there's nothing valuable where founders are searching. They fail to realize that founders are weaving a pattern with light and transparent threads, which will eventually gain strength and color. The paradox lies in the fact that the further entrepreneurs peer into the future, the more alone they feel on the road to it.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Self-Inadequacy Paradox /  by Alexander Lyadov

Unfortunately, we are inadequate when it comes to ourselves.

That is, we either coddle ourselves too much or we hurt ourselves too much.

At the beginning of the training, the rehab specialist made me do 200 squats in a row. Then followed a series of exercises for balance, endurance, and strength. Considering that I had knee surgery just a week ago, I would have spared my joint and never chosen such a load. The rehab specialist explained that it was a false mercy because it will only prolong the period of returning to physical fitness.

Another extreme example is familiar to every novice athlete. Dreaming of becoming a champion as quickly as possible, they train three times a day without taking a break. But soon they reach a so-called plateau, and injuries occur more often. That's why the best coaches in the world unanimously say that for skill, strength, or mass growth, the volume of work done over the year is more important than intensity.

In my business therapy with entrepreneurs, I observe the same phenomenon. Sometimes they harshly criticize themselves in situations where objectively even a superhero couldn't have done more. And sometimes, on the contrary, they try to avoid honest discussions about sensitive topics that touch their ego. As a result, costly mistakes are made again, hindering the growth of their business.

Thinking about my rehab specialist, psychotherapist, and business coach, the only thing I regret is not reaching out to each of them many years ago.

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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The Joy of Unleashing Potential /  by Alexander Lyadov

I've always been fortunate in life to have teachers.

Some of them didn't even realize their role.

One word or action from them was a precious lesson.

They offered it to everyone, but not everyone was willing to accept it.

When I found a teacher, I absorbed the insights with my whole being.

Seeing such eagerness, teachers were even more willing to share with me.

Later, when I started helping people with advice, I understood why.

There's nothing quite like the joy of witnessing, let alone being part of, the realization of someone's or something's potential.

Any gardener, trainer, master, or coach will confirm this for you.

Under what conditions is the unleashing of potential maximized?

Firstly, the teacher must be mature and fulfilled in his own field so as not to be envious of the student.

Secondly, the student must know how to accept with gratitude what is given to him, humbly acknowledging how little he still understands.

And in your life, is there someone who genuinely wishes for you to grow?

Yours sincerely,

-Alexander

You can help Ukraine defend itself and the World from Russian aggression here.

”Who are you and what do you do?"
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"I have an important business decision to make. Can you help me?
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Are You Ready For the Flood? /  by Alexander Lyadov

Reuters/Eduardo Munoz

Passersby laughed when they saw 25,000 sandbags piled in front of the entrance to Goldman Sachs headquarters in autumn 2012. The next day, the laughter died down as Hurricane Sandy flooded New York City, knocking out the city's electricity and wreaking havoc.

The photo of the brightly lit Golden Sacks skyscraper against the rest of the empty and dark buildings was a clear illustration of who was prepared for the unexpected and who was caught off guard by it.

“We learned a lot from 9/11, so when we built our building, we built it with a lot of redundancy, and a lot of backup power, and obviously invested a lot in testing and preparation and resilience in planning,” — Goldman CEO Lloyd Blankfein explained to New York magazine. Remarkably, such prudence, rather than admiration, has prompted a barrage of criticism along the lines of, "The fact that the NYU hospital is dark but Goldman Sachs is well-lit is everything that’s wrong with this country".

Investor ​Jeremy Giffon​ explained why this is his favorite business photo: "It's amazing that they built the building long before and were like, we're not going down. Like Goldman Sachs does not die. And I think that's probably some kind of deep entrenched thing in their DNA. You would ask, you can see other banks in that picture, why weren't they built with generators? What culture went into one bank doing that and the others not doing that?"

Defending against catastrophic risk always seems silly and inappropriate while things are going well. And to calmly withstand a shock, you have to create redundancy in the system in advance. Which from a day-to-day operational perspective seems criminally inefficient, especially when cash resources are limited.

Investing in linear scaling of a profitable model is easy, due to the short feedback loop. It is psychologically difficult to invest in defence against a force majeure that may never come. But it is precisely this kind of strategic foresight on the verge of paranoia that distinguishes the founders and CEOs of those companies that not just survive but thrive in a crisis. This is the area of non-linear investments and asymmetrical results. There is no simple formula here; it is already an art.

Yours sincerely,

-Alexander

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