MBA1128 Must Read: Tribe of Mentors by Tim Ferriss

Let me tell you about Intuit QuickBooks. When I was starting out my business, I remember sitting at my desk late at night not working on my business but cleaning up numbers, tracking and reconciling payments and wondering how this became my life. But once I automated the admin side of things of my finances, those nights had disappeared and I felt a whole lot better. Outdo it with intuit QuickBooks QuickBooks is the trusted end to end solution that businesses rely on for getting paid, managing finances, paying employees, finding new customers, and more. QuickBooks provides a team of AI agents and trusted experts, so doing it yourself no longer means doing it alone. Their payment agent gets you paid faster, their customer agent finds leads, follows up and secures more sales, and the accounting agent automates and categorizes transactions. Get your critical business jobs done with QuickBooks on the Intuit platform. Ready to save on new tech? It's time for Dell Tech Day's annual sales event celebrating our customers with fantastic deals and benefits. Perks include Dell Rewards, free shipping, premium Support and more. PCs like the Dell 14 with Intel Core Ultra processors will help you do more faster and with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com deals. Hey O welcome to the Hundred Dollar MBA show, the business podcast that's always got your back with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar MBA who complete business training and community online and today's episode is a must Read episode. On our Must Read Episodes. I share with you a book that I've read that has greatly influenced me as an entrepreneur, has helped me in some way and I share with you its takeaways, its insights and why you should read it too. Today's must read is Tribe of Mentors by Tim Ferriss. Tim Ferriss is the New York Times Best selling author of the Four Hour Work Week, the Four Hour Body, the Four Hour Chef. Yes, Tim Ferriss writes a lot of good books and this book that I'll be talking about today, Tribe of Mentors is sort of a collection of knowledge. It's like wisdom from people who are successful. If you don't know. Tim Ferriss has a podcast called the Tim Ferriss Show. So much of the content that is in this book have come from him meeting these amazing people that he interviews on the show and it's condensed in this meaty book. What I love about this book is that it has a golden nugget after golden nugget of wisdom from all these great successful people in different walks of life, from actors to directors to athletes, entrepreneurs. In today's episode, I'm going to share with you some of those golden nuggets and why you should pick up this book and read it. We have a lot to cover, so let's get into it. Let's get down to business. Tribe of Mentors by Tim Ferriss Great, great book. First of all, Tim is a great author. He actually is a really good writer. His blog is very popular as well because of his writing. His first book, the Four Hour Work Week, is probably the most well known entrepreneurial book in the space. And I would say tribal. Tribe of Mentors is kind of like the masterclass or the master level of four Hour Workweek. Four Hour Work Week gets you started while Tribe of Mentors kind of polishes the fire points in your game as an entrepreneur and as a successful person. So let me get into some of the great insights that he shares in the book. The first one he talks about is books and how they can inspire and stimulate you. He mentions that many of the successful people that he has interviewed or spoken to or knows incorporate reading as a daily habit. And books are a big part of why they're successful. He talks about how the talk show host Jimmy Fallon and the actor and former NFL star Terry Crews both value the same book, Viktor Frankl's Man Search for Meaning. So a great book can influence even the best of the best, and it's probably the reason why they're the best at what they do. I totally endorse this idea. Reading is one of the best habits you can form. I believe that actually reading great books makes you a better communicator. It just allows you to understand what great communication is all about, whether it's in written form or verbal, or on a webinar, on stage or one on one conversations. Whatever it is increases your vocabulary, it broadens your mind, and it doesn't have to be a lot of reading. It could be 10, 15, 20 minutes a day. Even 30 minutes a day makes a huge difference. If you read 30 minutes a day, you know, whether in the morning or before bed, you can easily read, you know, two to even three books a month. Talk about feeding your brain some useful stuff. Another concept that resonated with me in the book is that he talks about how failure can help you grow and improve yourself. Most of us at some point in the past have experienced at least one big failure. Setbacks like that can really make you feel down. It's crucial, crucial to pick yourself up. But it's even more important to learn from your failure. I talked about in Andre Agassi's book Open, how he firmly believes that all his losses as a tennis player allowed him. It was his rite of passage, allowed him, showed him how to beat those players, how to become a winner. He realized that he had to lose to win. And you can just swap the word lose for fail in this scenario and in your life. Failure can also motivate you to take action to make improvements in your life. So failure is a common thread in successful people's lives. So don't feel down if you fail. Instead, rejoice, feel like you're in good company. You're amongst the people that understand that failure is a part of success. Also in this book, he talks about making investments, and he's not talking about traditional investments like the stock market. Talk about making investments in yourself. Whether it's learning a new language or learning how to code, or improving your public speaking skills or improvements in your personal health. You know, exercising the way you eat, the way you sleep, how much you sleep, I should say. Jason Freed, the CEO of Basecamp, he actually had to exercise less. He, he found it to be a little bit detrimental because he was using it as an excuse to kind of eat whatever he wanted or not sleep as much. You know, that's kind of rare where people need to exercise less. But know yourself and make those adjustments and improve yourself, make self improvement part of something that you have to do not would be nice to do. Now he also talks about, you know, it's easy to self improve if you join a community. Like if you join the gym with your friends and you have a gym buddy or gym buddies, or you join a team like an intermural league. You know, I play basketball on Thursday nights and it's a great way for me to get my cardio in. And I feel obliged to go because my team is counting on me. You know, we gotta beat this next team that's playing us tonight. I gotta make sure I show up and bring my A game and put 100%. I definitely agree with this. You know, building a community around your activities of self improvement can allow you to be self motivated and keep on doing it. There's something about numbers, there's something about being a part of community that pushes you beyond yourself. If you can build community into the things you do to improve yourself, do it. We're talking about reading. That's why people love book clubs because it promotes the idea that, hey, we're all reading this book together. We're going to talk about it later. If you want to learn how to code, find somebody else who wants to learn how to code and learn together, whether it's online or in a classroom. Push yourself and push each other. Community helps. Another one I love in this book is about dealing with overload, work overload, and how you have to start saying yes to yourself and no to others. A lot of us have a hard time saying no to others, but what happens is that we just deteriorate. We just overwhelm ourselves with all the tasks we have to do because we didn't know how to say no, he says. If you want to deal with overwhelm, start saying more yes to yourself, the things that you should do for yourself and no to others. Or be more selective about who you say yes to or the things you say yes to. Spend more time on your health. Spend more time on your mental health, on your emotional health. Whether that's, you know, meditating or taking walks. However, according to millionaire entrepreneur Gary Vaynerchuk, sometimes saying no even though you want to isn't the best choice. He says, to stay open to the surprises of life. He likes to say yes 20% of the time, even though it may not be worth it to him. So he keeps a window open. He has some sort of balance. So he doesn't say no. Like 99% of the time he says no 80% of the time to allow that 20% to be like, hey, maybe that one thing I said yes may waste my time, but at the same time I might get lucky and it might change my life or change my business. Another piece of advice in this book is don't follow advice just because it's trendy or other people are doing it. Ed Cohen, who set 71 different weightlifting related world records, warns people against adopting techniques just because they're new and trendy. He believes the fundamentals are the best. Old is gold. Not everything that is new is the best. There is a wisdom in doing something that's tried and tested versus something that's new and untested. The problem is that in our culture we celebrate the new. Especially in social media, whatever is new is like what's hot, what's good. And Steven Pressfield, the great author and screenwriter, says social media is very superficial and true satisfaction comes from getting your deep work done, putting in the hours and letting everything else follow and not worrying so much about what your metrics say on social media and what people say.

At Capella University, learning the right skills could make a difference. That's why our business programs teach you relevant skills you can take from the courseroom to the workplace. A different future is closer than you think with Capella University. Learn more at Capella. Edu Busy work weeks can leave you feeling drained. Prolon's five day fasting mimicking diet rejuvenates you at the cellular level, lets you enjoy real food, and does not require an injection. Developed at USC's Longevity Institute, Prolon supports biological age reduction, metabol, skin health and fat loss when combined with proper exercise and nutrition. Get 15% off plus a $40 bonus gift when you subscribe at prolonlife.com PandoraProromo.

The last takeaway I want to share with you when it comes to this book, Tribe of Mentors by Tim Ferriss is that he says, remember to value yourself and others. At one point, Tim Ferriss, the author, he asks all the mentors that he's interviewed for this book what piece of advice they would give to everyone in the world if they were given the opportunity. He actually frames it in a way like if you can, you know, rent out a in a prime location that everybody would see what would be on that billboard. And many people focus on asking people to be good to one another. The CEO of Salesforce, Marc Benioff, is a committed philanthropist and would advise everyone to find out how they can help their local public school. Something that we can all do. Investor Ray Dalio reminds people to stay open minded and seek less obvious opportunities. And there's a really good insight in this book that I want to share right before we close out and it says if you miss a good opportunity, don't beat yourself up. Contrary to what people might say or what you might be feeling, it's not the end of the world or the end of your chances. There'll be opportunities if you keep on knocking, if you keep on trying. I highly recommend you pick up Tribe of Mentors. It's a big book, it's a long read, but it's well worth it. And it's one of those books you could just pick up, open up, get a few nuggets, and, you know, be on your way. You don't have to read it in sequence. It can be a reference. I love it. Thank you so much for listening to the 100 MBA show. Before I go, I want to leave you with this. Some of us, we say, oh, I wish I had all these great mentors. I wish I had access to some really successful people. Well, Tim Ferriss has access to some really successful people. Some celebrities, athletes, actors, entrepreneurs that have really done big things in this world. So one way to have access to the same people is to have access to Tim's work. He's giving it to you in this book so you don't necessarily need to be the first point of contact, right? He can be your gateway. He could be the person that presents all those insights to you. All curated and on a silver platter. So don't miss out on those opportunities that people like Tim offer you. Thank you so much for listening to the $100 NBA show. I'll check you in tomorrow's episode. I'll see you then. Take.

At Capella University, learning the right skills could make a difference. That's why our business programs teach you relevant skills you can take from the courseroom to the workplace. A different future is closer than you think with Capella University. Learn more at Capella Eduardo.