It's Time to Build your Human Capital
Instead of focusing solely on Financial Capital and resting on your laurels.
"An investment in knowledge pays the best interest." - Benjamin Franklin
Think about all the skills you have accumulated over the years e.g. walking, talking, language, strength training, sports, public speaking, team building, leading, closing, pitching, etc.
Did you acquire any of these without failing or without spending time?
I doubt that.
Each of them is important to you today because it either helps you in your economic pursuits or is your happy zone.
Also, an interesting question about these knowledge accumulation journeys is, “Was it exciting to go through repetitions of failed attempts or treading outside of your comfort zone?”
No, it wasn't. It’s not supposed to be.
Hence, the learnings are lifelong, and the impression on you is permanent because they come in an emotional state where you can receive the message when supplemented with a shock/failure.
This reminds me of the scene in the movie Dangal when Amir Khan asks his daughters to jump in the river, in addition to pushing them to run in the early morning hours or wrestle with boys.
Both grew up to be gold medalists in different weight categories at the Commonwealth Games, but would they have achieved these feats if they hadn't gone through the pain and discomfort of building these skills?
Again, I doubt that reality ever shapes up without the sacrifices made by the entire Phogat family !!!
As shown in the picture above, the time spent building skills doesn’t have much to show in the beginning since it’s laced with failures, pain, discomfort, anxiety, self-doubt, balancing umpteen responsibilities, lack of sleep, and more.
I vividly remember my MBA prep days when I would spend the whole evening, even whole nights, on a few occasions, going through IMS study material and mock exams, clarifying doubts, and exchanging notes with others so that I could crack the CET (Common Entrance Test). I stood 102nd in Maharashtra and got through KJ Somaiya Institute, where I began my journey in Finance. I am still going strong even after 20+ years in the field, and it feels like I’m just getting started.
The irony is that every skill or knowledge you build up is backed by a purpose, i.e., to survive or thrive. It doesn’t need motivation, drive, or TED talks for inspiration. The mere risk of failing or becoming a nobody is enough for you to burn the midnight oil, study for competitive exams, go through 100s of calls where clients bang the phone on your face, or return empty-handed when you step out to close a sale.
But once you survive this phase and even start thriving, the fire to keep building on the knowledge dies out, putting a lid on your pursuit of mastery or knowledge accumulation.
This isn't clear when you're raking in the perks of economic success. Good times bring you happy memories with loved ones, travels galore, access to parties & events that were once a pipedream, friends in places around the world, and so much more.
However, the lack of knowledge accumulation hits you hard when times change, as demonstrated below by the S curve across different industries -
Technologies change, industries disappear, competitors emerge, and adversity could knock on your door, making you regret not learning and expanding your knowledge or skill sets.
If you care to look today, there are many emerging themes that could take over the world of opportunities in times to come -
Finance
Alternative Investing
Bitcoin & Blockchains
Commodity Bull Run vs. Equities
Active Investing vs. Passive Investing
Emerging Markets vs. Developed Markets
Business
Edtech
Social Media & Influencers
Digital Branding & Advertising
Information Management Systems to deal with an abundance of information
Health
Biohacking & Longevity
HealthTech, i.e., Oura/Whoop/Ultrahuman/CGM
Wholesome Nutrition vs. Accepted norms of eating junk packaged as food
Personal Productivity
AI Tools for outsourcing tasks
Self Expression vs. Stressing about Other’s opinions
Productivity Systems like Notion/Roam/Obsidian/Things/Notes
How many of these are you dabbling in or experimenting with?
How many of these are getting your time and attention?
Is any one of these that you have dedicated to master?
If not, that’s ok. It’s not too late.
Every hour spent on these builds your human capital, adds to your knowledge base, and strengthens your skillset, preparing you for the future that is speeding toward you.
The S curve shows you the pace at which innovation gains momentum and disrupts industries. You can vividly remember yourself in your teens, but the last one or two decades have zipped by in a flash.
Before you realize it, you will be in your 50s.
If you’re not prepared to deal with the future or are incompetent in the future, you will be living in a world with nobody to blame but you.
Wishing you a fantastic weekend ahead🤝
Sending you loads of love and luck🧿
Manish