#92: Skill Diversification & Saving Like a Stoic

Welcome back, and welcome to November 🍁 

My sister ran in the New York City Marathon this past weekend. It was my first time at the event, and it was a surreal experience. I’d expected a crazy environment with palpable energy, but I hadn’t expected that I’d learn so much (or have lessons I already knew illuminated).

Here are my 2 main takeaways:

• As the old Adidas slogan goes:

There is no way the human body is meant to run twenty-six miles in such a short timeframe (let alone on asphalt), and yet these incredible people do it. One person I saw completed the race in a wheelchair. Another ran barefoot.

It’s all about discipline, will, and the confidence to dream big and ignore those who say that you can’t. So always remember: whatever it is that you want to accomplish, YOU. CAN. DO. IT.

• Support from friends and family go a long way.

Sometimes our egos take over, and we think we can do everything on our own. But it’s always easier, better, more meaningful when we have the love and support of those we care about most.

If someone you know is trying to accomplish something challenging, be there for them. Encourage when they need encouragement. Offer advice when they seek it. Give them tough love when the moment calls for it. Shut up and listen when they need to vent. And if they need you to stand outside in the brisk fall breeze holding a sign while you yell “Keep going,” well…

On the flip side: if you’re the one pursuing a goal, let those close to you know what you need from them. Don’t try to go it alone. Tell them you need them, and tell them what you need.

My favorite thing about the marathon, aside from cheering my sister on as she approached the finish line, was watching other families do the same for their loved ones. I was standing next to a family of 5, and when their runner came around the corner, they went NUTS. Every positive sentiment that came to mind was screamed at the top of their lungs, and the sheer joy on all their faces when their runner stopped to hug them is one I’ll never forget.

I’ve got goosebumps just thinking about it.

Anyway, that’s all I’ve got for you: don’t let anyone tell you what you can’t do, but absolutely let your loved ones in while you do it.

Now let’s get this show up and running…

Kick-Starting November With 🍁 

Elevating Your Brand 🤝 

• Content For Your Commute: Improve Language, Networking, and Problem-Solving

• Expert Advice on the Importance of Being Well-Rounded

Boosting Your Productivity 📊 

• A November 2 DO For Developing New Skills

Fattening The Wallet 💰️ 

• Making Cents Diversifying Your Skill Set / Income

• Hustle Hub: How Stoicism Helps You Save + Much More

Making Cents 💰️ 

Why Skillset Diversification Comes
Before Income Diversification

Short and Sweet: When you hear about diversification, it normally pertains to investments. The idea is that by holding many, the potential poor performance of one won’t hurt you.

The same premise can be applied to your skillset…

Q: Why should you focus on skillset diversification before income diversification?

A: If you don’t come from family money or have enough to diversify your investment portfolio, think about developing / improving more skills to give yourself options. This can help you take on different roles at work (for increased pay) or pursue other projects (side hustles) to generate multiple income streams. Focusing on skillset first can help build the confidence required to diversify your income because you now have more to offer.

Q: How does a diversified skillset impact financial security?

A: A diversified skillset gives your adaptability in uncertain times. Whether it’s a market downturn, a job change, or an unexpected event, having a broad set of skills gives you the opportunity to pivot if and when things get ugly.

Q: How does diversifying skills improve your ability to spot new opportunities?

A: When you develop a variety of skills, you’re better positioned to recognize opportunities that fit those new skills. Skill diversification results in a wider lens to evaluate potential projects, businesses, or side hustles, making you more capable of identifying and capitalizing on lucrative opportunities as they arise.

O.T.F. 
O.F.T - One Final Thought 

Warren Buffett once said, “If you are not a professional investor, if your goal is not to manage money in such a way so you get a significantly better return than the world, then I believe in extreme diversification.”

The sentiment behind this applies to skillset diversification as well. If you’re going to be a specialist, you need to be among the ELITE at whatever it is; for everyone else, being well-rounded is the best way to maximize your utility, adaptability, and overall value.

This isn’t to say that you shouldn’t try to become great at something. It simply means that you should keep more than one tool in your toolbox.

Hustle Hub 📈 

• YOUR SUCCESS: Get $$$ - Yes, saving is a hustle. Here are 12 habits that “can completely transform your finances.”

• THEIR SUCCESS: Get Inspired - How simple conversation and shared culture led to a multimillion-dollar partnership (Lesson: NETWORK! You never know what that connection might lead to…)

• YOUR SUCCESS: Get Educated - Why bootstrapping is the best way to learn about running a business.

Content For Your Commute 🚶🚆 🚗 

Let’s keep this diversification train rolling…

• ON FOOT: Communication skills are important (duh) - to build yours, check out Grammar Girl, with plenty of sub-20 minute episodes that can help you become a better writer, presenter, and overall communicator.

• TRAIN TIME: Diversify your conversational knowledge (essential to good networking!) with Stuff You Should Know, a podcast with no specialty other than educating you on whatever the day’s topic is. Most episodes are between 40-60 minutes, but for shorter commutes, focus on the “Short Stuff” episodes.
  

• FIRST CLASS: One skill that’ll never become obsolete is the ability to solve complex problems. To that end, skip the in-flight movie next time and instead opt for Bulletproof Problem Solving: The One Skill That Changes Everything.

Expert Advice 💭 

Who is Eric Cox?

• He is a “National Board Certified Health and Wellness Coach (NBC-HWC), experienced leadership coach, expert training and development consultant, author, and speaker.” You can check out his YouTube channel here.

2 Do For You: November 💡🍁 

1. Vote!

Today is Election Day. If you haven’t already voted and can make the time, let your voice be heard.

2. One New Skill Per Week

Today’s theme is about skill diversification. Make strides this month by trying to learn one new skill per week. Whatever it takes, let’s roll into December with new abilities that increase our value as employees and make us more well-rounded human beings.

If you need help with developing a process to achieve this goal, here’s some friendly advice from everyone’s favorite bot:

Before You Go

We hope you enjoyed this week’s edition. Next week, we’ll be back with November #2, which includes Cool Communicator, Food for Thought, and much more.

See you then!

You are now On The Fly and In The Know.