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The Argument For Moving Against the STATUS QUO

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The 10 Minute MBA, is a no-fluff weekly podcast that teaches you practical business lessons you can use to grow your business immediately.

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Welcome to the ten minute MBA. I'm your host, Scott D clary. On the ten minute and BEA. I give you tools, tactic, strategies, insights and tips that you can use to start, scale, grow and en x Your Business. Let's get into it. What's going on, Scott here today? I want to talk about moving against the status quote. These are going to be lessons that I pulled out of an incredible conversation that I had with Anthony Diorio, who is the cofounder of etherium and, candidly, one of the smartest, most forward looking individuals I've ever had the chance to sit down with. I had him on the success story podcast. We spoke about a ton of stuff, but one thing that I thought was incredibly interesting is just how he looks at solving problems, and obviously this is why he has been so successful. But I think it's a valuable point to touch on and to speak through and to expand on. So let's start off with a question. The way things have always been done in any industry, in any category, if they have never existed, what would you do? It is a compelling thought and this is the stream of thought that ran through the entire conversation I had with Anthony. It's rare to encounter someone who thinks like this, but not just things like this, things like this in a lens of serving others. His desire to serve others is so extreme. He's incredibly forward thinking and he rejects the status quo in everything is approach to business, across everything he's done, not just atherium, leads him to new views, new angles and unique ways of solving problem. For example, if you're frustrated with the stock standard practices that your industry follows, perhaps you're looking for a way to jump the rails into carve a new path that leads to better outcomes. Now you might be at the beginning of your entrepreneurial journey, looking for unique...

...ways to fill that gap, to create something new. But wherever you're at, I do suggest you go listen to the full interview with Anthony. It's filled with a ton of insights into cutting edge thinking entrepreneurship and plenty of food for thought. So let's go into the topic of going against the status quote, because is a major topic that we spoke about and I think we can expand on that and provide some value. So first let's talk about Anthony. How he disrupted. I'll disrupted a lot of stuff. I want to recap his achievements within Crypto, what he's managed to achieve over the past three decades, and incredibly impressive. So in late two thousand and thirteen, he co founded thetherium, one of the first decentralized smart contract platforms. At its peak, and it's still increasing every single day, the total market cap of etherium is valued at over three hundred and fifty billion dollars. He's made ground, making headway in Crypto Wallat Technology, fueled by his passion for financial autonomy and freedom. He was also founder of the Central Company that is devoted to staying on the cutting edge of decentralized technologies and disrupting industries across all sectors. Of course, if you're a crypto enthusiast, you know Anthony Di Oreo, you know etherium, but not everybody knows these things. So that's his background as someone in the entrepreneurial space. Sometimes it's difficult to avoid this get rich quick mentality because we see it all over social we see these incredible lives of people are leading, these entrepreneurs that have the nice cars, the great life, the jets or whatever, but the reality, and especially in Crypto, it's compounded because we see people that actually made like millions of dollars in an exceedingly short period of time. But, however, in general and the general business space, you have to focus on being smart, being strategic and thinking differently,...

...and Crypto is more or less gambling in a lot of in a lot of different ways. Entrepreneurship is gambling to but ultimately that monetary gain cannot be your only driving force, not if you want to achieve Anthony Di Oreos level of success. Anthony has a mission. So from the outset and Anthony was a thinker with a desire to empower and serve others. His vision has remained consistent since etherium. Allow people autonomy over their digital lives. There are three pillars that he has always built things on. He thinks it's very important to own your identity, he thinks it's very important to own your money and he thinks it's very important to own your communications, and those three things, done in a decentralized fashion, allows the user to have full control, and that's an incredibly powerful product with an emphasis on identity ownership and financial freedom. He was drawn to Crypto for its ability to remove the middle man from the equation. Unlike banks, etherium and also other crypto allows people to mediate and control their own finances without having to go through a third party. To quote Anthony, his mission is always been about freedom. He doesn't like school. He doesn't like being told what to do. With Bitcoin, I saw it as a big opportunity to help create change and a power billions of people around the world with the tools that they need to be their own bank. Knowing that a theoreum is one of the first crypto projects that really achieve notoriety and success outs out of like Bitcoin, it's particularly impressive that Anthony was able to focus on the objective rather than the monetary gain. His others first mentality led him to develop technologies that have been truly life changing for millions of people. So establishing a personal mission this is incredibly important as an entrepreneur. This is something Anthony Did as an entrepreneur. Going against the grain perhaps is one of the most important things you can do as an entrepreneur. But to do that you do have to establish your own personal mission, and the mission cannot be a...

...financial or business goal. It's not solve this problem or make this company the biggest in the world. Your personal mission is something that encapsulates who you are as an individual and what you stand for. It's your guiding light, your North Star, metric when things get tough, and it's the source of motivation when all around you people are giving up. For Anthony, his mission for many years was focused on the financial freedom of others. He didn't find true clarity around his reason for doing things, however, long until a theorium and taken off, so to quote Anthony, after the big ICO craze. It happened in two thousand and seventeen. I started reevaluating what it is I want to do with my life, and I've gotten to the point where I didn't need to be thinking about setting myself up for the rest of my life. Things are pretty good at the time, but I realize that the more freedom that I was seeking, the less freedom that I actually had. This realization, coupled with the success of his endeavors with a Theorem, opened his eyes for the need of more personal direction as and less business direction. So he ended up rethinking what his mission was. He spent a lot of time thinking about three things. Is what his why and is how. And over a decade he decided that what makes him happy is being in service, not just building, but being in service. So he wants to serve as many people as possible and to help people because that's what ultimately makes him happy. So what Anthony did here is reminiscent of the finding your why exercise popularized by Simon Sink in order to find what you stand for. These are the questions that you should be asked and yourself as an entrepreneur. What are you passionate about? What makes you unique? What can you offer the world than no one else can? When you answer these questions, you become more in tune with your personal mission and what you can offer the world. You'll find is some of the most successful people in the world, from Oprah Winfrey to Elon Musk, have very clear missions that inspire them to achieve great things. Now, after you figured out your mission, next you should look for your Ikey Guy. Now, what is Ikey Guy? This was not a topic that actually was discussed in the interview, but I thought it provided some framework for entrepreneurs...

...and I find it's a very useful concept to explore the concept of ikey Guy. It's a concept of what gets you up in the morning. It's what drives you and gives your life purpose. It's much more than financial or business. It's different for everyone, but there's actually a chart based on Japanese culture that can help you find what your Ikey guy is. So the chart has for section. It's what you're good at, what you love, what the world needs and what you can be paid for. And then you find a balance between these four things, and this is the key to finding your Ikey guy. It's almost like the old saying if you find a job you love, you'll never work a day in your life. The point is to find that one task that sits at the intersection of talent, passion, utility and monetary compensation. For some people this is their job, for others it's a hobby or a passion or project that you do on the side. But finding your Ikey guy is key to living a filling life. It's what drives you and determined your why. So the reason why I bring up this Japanese philosophy is that for most people, they're icky guy remains hidden. It's something they have discovered yet, or it's something you're not actively looking for. However, I view it the same way that I view Simon cynics concept of finding your why I believe it's truly necessary to have outstanding success, exceptional success, success beyond the measure of what most people think is possible. Now, if you want to stand it from the pack, perhaps this is your starting point. This is what you have to figure out to successfully go against the grain. Another thing that I actually pulled out from speaking with Anthony that stood out to me as an abundantly clear thought is throughout his entire career, anthony had remained well ahead of the curve. So what I mean by this is that Anthony's a forward thinkers. So he watches trends, he understands the progression of technology and its impact on society, and this understanding has allowed him to remain at the forefront of innovation. So, for instance, when Bitcoin came onto his radar, anthony didn't wait for someone else to jump onto the new technology first. He Dove in himself, learned absolutely everything he possibly could about it and...

...quickly devise the strategy to use a technology for good and, when there was no technology available, to manage multiple cryptocurrencies from one wallet. He didn't wait for another company to fill that void, because there was many that were trying. He created his own technology, which is now used by some of the largest exchanges in the world. This mentality, staying ahead of the curve, being proactive rather rather than a reactive has served anthony and etherium well, obviously, and it's a mindset that I believe any buddy can effectively use to set themselves up against the status quote. So how you can stay ahead of the game? So how do you actually adopt this mentality and and be ahead of the curve in your own industry? So, first of all, I think it takes a level of courage to be proactive. To be honest, it's easy to react how others are doing it, but it takes guts to forge your own path. Once you've braced for a potential bumpy ride, you have to be real with yourself that it's not going to be easy. You can begin to educate yourself on trends within your industry. Think about these points. What are people talking about? So this is an easy one. If you're present on twitter or Linkedin or any social you keep an eye on Hashtags, key words, articles that are shared frequently, you see things that are going viral and you see things that are trending. What's happening in the world outside of your industry? Again, this is something you can keep tabs on by following popular news sources and blog are there any technology, technological advances or societal changes that could have an impact on your field? And then, lastly, what's the next big thing? Now, admittedly, this is a harder question to answerer, but if you keep in the company of innovative thinkers, you generally have conversations around trends and things before they take off. So, of course, it takes more than forsight to create something truly disruptive like etherium. It also takes guts, passion and an unwavering dedication to your vision. But if you're ready to challenge the status quote, these are all attainable qualities. So what's your next move? So you've decided what you want to take on. Say you found your Ikey Guy. Say you've come to terms of the...

...fact that it's going to be difficult and you know where you want to take your company or your business or even yourself. What do you do next? You reframe the issues at hand. So entrepreneurs are described as inventive, innovative, courageous and relentless in their pursuit of their vision. They are also risk takers, often bucking the status quote in favor of something new and better. When it comes down to it, though, what entrepreneurners actually do is solve problems. They see a need in the world and they find a way to fill it. What sets some entrepreneurs apart from the rest, however, is the way in which they go about solving these problems. Do they use methods that have already been proven to work, or do they experiment and take risks? This is where Anthony Di Orio always had the upper hand. He's an innovator by nature and he continues to come up with his own methods and frameworks for problem solving. So let's break down Anthony's framework for problem solving so that you can think the way anthony does. So part of Anthony's approach to business has always been skepticism, not a pessimistic skepticism, but a skepticism that basically allows him to reframe the issue he's trying to solve. So, for example, he recognized very early on that there were serious flaws in the advertisement based model of accumulating and finding customers that most businesses were using at the time and are still using. To quote Anthony, there are better ways to do things that don't necessarily rely on advertising models. Advertisers are paying money to get eyeballs on something, which leads to this attention economy that we have. We need to think differently. So, instead of following the what's considered, quote unquote, Normal Anthony designed his own framework in order to counteract the issues he identified with other business models. So a lot of the times business formulas are not efficient enough, they have deficiencies which exclude people. And if you can move the dial from deficient models, it's serve fifty percent of the population to serving sixty percent or seventy percent of the population by joining your product or joining your...

...company or joining your mission, and including this is actually coming back to community building, to be honest, and you're serving your audience better, not just getting their attention but actually serving them and you're making sure their day today life is getting better. This is when you can actually build a community which in turn can build a business. To help bring this change about, Anthony uses a framework of his own invention, which focuses on creating solutions for as many stakeholders as possible, not just the top percent, which could be the most profitable customers. To quote Anthony, he wanted to be a leader and a problem solverer, because I think that that's two things that the world is sorely lacking these days, and he's using the framework that he's developed to serve as many people as possible. So, taking a leaf from Anthony's book, is there a way that you can reframe the problem that you're trying to solve? Is there still a problem to be solved in the first place? Perhaps the issue is that the current solutions just aren't cutting it. This is we're going against the grain can ultimately create lasting change. So these are some questions that you should actually be asking yourself if you're trying to reframe a problem and look at a problem differently, and ultimately you can still bring it back to Anthony's model. We're trying to build community and serve a wider percentage of the population, but at least before you go down that route, do try and reframe the problem and take a look at it from a different perspective? So questions you should be asking yourself how of others attempted to solve this problem or fill this gap. Where they successful? In what ways did they fall short? What are the potential benefits of a new solution? How would improve the lives of those affected? How could you go about implementing a new solution? What risks or challenges would you face? What's a totally new angle you've never considered before. If every other pre existing business disappeared out of your mind, what would you come up with to solve that problem? And if you're able to come up with a new solution that actually works, it is likely to be met with some resistance. But, after all, the status quote is comfortable. It's always risky trying something new, but if you're able to succeed in...

...spite of the resistance, that's when you know that you've really made a difference. So, in summary, going against the status quo can be a daunting task. You have to set yourself up for success. You have to understand where your values lie and then, from that cornerstone, that's when you can build out a strategy and a mindset to position yourself against the status quote and to look at things differently. Whatever your passion is, be it art, fashion, food, technology, don't be afraid to think outside the box and to create something new. The world needs more entrepreneurs that can challenge the normal, that are not afraid to do things differently. anyways, if you enjoyed this, I hope it provided some value. If you love Anthony Story in the way that he looks at the world, definitely go check got the podcast. What you can also do, for sure, is hit that like button, hits subscribe. Leave a comment below any business topics. If you want me to go into it, just leave it in the comments below. I'll get to it. Have a great week. We'll speak against you by now.

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