MBA1248 Must Read: When by Daniel Pink

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Hey O welcome to the $100 show, your business building companion every day 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 $100 MBA, a 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 influenced me as an entrepreneur. I share with you its takeaways, its insights and why you should read it too. Today's Must Read is When by Daniel Pink. In this book, Daniel Pink goes through around 700 scientific studies to get a better understanding of how big a role timing plays in our lives. He sifts through data from fields of economics, anthropology, social psychology and he gives you a thorough look at why we make the decisions we do and why we make them when we do. I was fascinated by this topic because I always wondered how much does timing affect your success when you launch that product, when you start that business, when you increase your prices? This book not only explores those things, but also explores when is the best time to do nothing and when to choose the right time that is optimal for your success. This includes the time of day as well as the time of your life. At what age are you most likely to succeed in certain areas? I'm going to share all those insights and more in today's episode. So let's get into it. Let's get down to business. The author of When Daniel Pink is a best selling author of multiple books that have topped the New York Times bestseller charts over and over. He's a graduate of Yale Law School and he also has experience in politics, having worked as a speechwriter for Al Gore during his vice presidency. His previous books include the Surprising Truth of what Motivates Us and To Sell as Human. Daniel Pink is known for taking the time to do the research and that he provides in his books. It's hard to argue with his opinions when he backs him with so much data. When I was going through his book, I would find myself saying, really? Is that true? And then he would give me case study after case study and I'd be like, wow, it's kind of hard to deny that. So he's really good at exploring surprising truths. One of the things he starts out with that I found very interesting was this concept of an emotional pattern that we have in our daily lives. Believe it or not, most people love their daily routines day in and day out. We brush our teeth, we take a shower, we get up and have a cup of coffee, we take the dog for a walk, we check the mailbox, we check our inbox. We might catch up on the news. Whatever it is, we have this daily routine, it's a sense of comfort. But he also points out that in parallel to these habits, there's another, subtler pattern to our daily lives. He shares that researchers at Cornell University looked at Twitter to try to get a sense of prevailing moods of of people during the typical day. By examining 500 million tweets from over a two year period, they saw a very clear pattern. And that pattern is that there's a general feeling of positivity and hope that peaks during the morning and drops swiftly in the afternoon and then climbs up in the evening. He says this cycle happens pretty much every weekday to pretty much everyone, regardless of their race or nationality. I thought this was incredible. And I looked at my own life, my daily routine, asked myself, am I most positive in the morning? Do I go through those dips in the afternoon and go back up in the evening? And I had to agree. Yeah, of course Twitter isn't the best gauge for emotional accuracy since it's not known for honesty. But nevertheless, this pattern has been noticed in other studies too. This daily pattern is known as morning peak, afternoon trough and evening rebound. What's interesting about this pattern is that it has a direct impact on our work. In a separate study, three professors at American Business School analyzed over 26,000 earning calls. These are conference calls between a company's CEO and the primary investors where they discuss how things are going and what is expected. These calls often determine whether a stock price rises or falls. The interesting thing is that the study showed that calls that happened later in the day, the more negative the calls would get. So if they had this call early in the morning, the better the result, the better the stock price. And this study was done over 2000 public companies. This is incredible. So what does this mean for you? I shared a lot about this particular insight from the book, but I want to make sure that it's applicable to you. Well, as a business owner, you need to be mindful of this. This is true. This is going to happen to you. So if you are positive and you are your best self in the morning, as the studies show, and that the work will be affected by this, then you need to make sure you do the most important stuff at the start of your day. The things that are not as mission critical should be done later in the afternoon. Things like replying to emails, any kind of social media that you have to do for your business, admin work, that kind of stuff. Do it later in the day, at the start of your day, do the big things that move your business. Writing content, working on your product, working with your team. These are the things that really matter. But then in the book he also mentions that this has to be in balance with your chronotype. Studies show that on average, one in every four people has a differing internal clock, what's known as a chronotype. In addition to the normal chronotype, which experiences the morning peak and the afternoon trough and then the rebound in the evening, there are two others, the night owl and the lark, which is early risers. Researchers suggest that 20 to 25% of people are owls or night owls who excel at night, like inventors like Thomas Edison who they hit their peak around 9pm Larkspool like to go to bed early and wake early. We're talking about these people that like to wake up at 5am and get started. Funny enough, they say larks are the most rare type of chronotypes. So look at yourself and know where your cycle is. I'm definitely not a lark. I take a while to wake up in the morning. I need about an hour just to fully awake and that's after my cup of coffee. So if I have a meeting in the morning, I need to wake up two hours before that meeting to make sure that I'm on the money, that I'm actually focused. So be mindful of your chronotype so you can adjust your day accordingly. Another part in this book I really liked is that knowing your cycle, knowing the ups and downs, you need to be vigilant about taking breaks to avoid midday mistakes. When when you're tired, you're going to make mistakes, you're going to get frustrated. He mentions babies. You know when babies get tired, they get cranky, they start crying, they get uncomfortable, they don't know how to express themselves and say, hey, I need a nap. As adults, we suppress that and when we get tired, instead of getting all cranky, we just perform worse. Some of us get cranky, but the point is that it affects our actions. So sometimes you need a break. The Italians love taking a midday kind of coffee to pep them up around 2 o', clock, 3 o'. Clock. And I love this practice because it gives you a second wind. One, it gives you a chance to take a break and step away from work for a few minutes and then two, the caffeine helps as well. He mentions that in Denmark there's a lot of importance placed on taking breaks, he says. Also, the hospitals have noticed that standards of care have gone up when breaks were introduced in the workday. So be mindful. You can't be a hundred percent all day long. You will dip. You will need to take a break so you can come back at it stronger.

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Guys, I really enjoyed this book when by Daniel Pink. There's so much more I can share, but this episode would be an hour if I shared them all. I tried to pick out the ones that kind of stood out to me, and I left a few gems so you can discover them on your own. When you read the book, check out when by Daniel Pink. It's going to change the way you think about timing. Remember the top of the episode where I talked about launching a business, launching a new product, changing your prices? All those things are backed by decisions. There's a time where you make a decision about that, you make a decision about launching. You make a decision about changing your prices. I highly recommend you don't make decisions when you're in one of your dips, when you're in the midday, or when you're tired. I actually like to make decisions on the rebound towards the evening. Why? Because I have a bit of perspective. I'm not overly optimistic as I am in the mornings, but at the same time I've had a chance to kind of see the day and I'm not in the lowest point of my energy. I'm a lot more reflective and I'm not as hasty to make decisions at that time. So be mindful of when you make decisions, because decisions are kind of those things that, yeah, you can change them later on, but it will affect your business even in the short term. So make sure you're at your top form or your best form possible. Thanks for listening to the $100 NBA show. If you love what you hear, hit subscribe right now on whatever you use to listen to podcasts. Whether it's Spotify or Apple podcasts or Stitcher Radio or Overcast, we're on them all. By hitting subscribe, we make sure that you get your episode automatically right on your device so it's ready for you when you're ready to listen. So hit subscribe right now. All right, before I go, I want to leave you with this. This book when is very research driven. It's very different from a biography. A biography is a story, people telling you their experiences, and personally, I can't read too many research driven books in a row. I will have to take a break after this one because to be quite honest, it's a little harder to get through. It's interesting, it's fun, but your brain is working over time to process all the information, so be mindful of that. So if you're picking up a book like this understand that's what you're getting into. It may take you a little bit longer to get through it than a biography, for example, but it still has great value because it challenges your beliefs and thoughts through research. Just a little reading tip for you when you pick up this book. All right. Thank you so much and I'll check you in tomorrow's episode. I'll see you then. Take care.

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