Inside My Brain

Thoughts about startups, tech, marketing, and life

CATEGORY: Careers

A look back at the 2010s, and forward to 2020

The 2010s was probably the most impactful decade of my life, both on a personal and professional level.

The decade was filled with ups (mostly personal) and downs (mostly professional). A lot of change happened, and I learned a ton, both in terms of new skills and knowledge, and about myself.

Recap of the 2010s

Here are some of the things that happened last decade. 

On the personal side, all great:

  • I married my best friend in the world (3 times in fact – in DC, Mexico, and Queens!)
  • I had an amazing, wonderful daughter
  • I bought a beautiful house
  • I traveled to Greece, Australia, Thailand, Taiwan, Colombia, and many other great locations around the world

On the professional side, so-so:

  • I left my dream job in the sports industry to become a tech startup founder (and maybe F’d up career in the process)
  • I launched 3 startups that failed
  • I discovered crypto/blockchain and am working on transitioning to this industry for my career
  • I learned so much about technology, marketing, product, and what it takes to create a company

There’s not much more to say about the things that happened in my personal life. That side of life is amazing and I can’t be more grateful.

Regarding my career, I have no regrets, but hindsight is 2020 (pun intended!) and there are some things I would do differently. More on this in a future post!

Looking ahead to 2020

2020 is going to be another year full of change.

On the personal side, my resolutions are to:

  • Hit 160 pounds at some point (equates to losing 8 pounds from today)
  • Work on my poker game (I have a couple leaks I need to plug)
  • Be the best dad and husband I can be

On the professional side:

  • I aim to work in crypto full-time, whether it’s a full-time gig with one company or multiple consulting projects. I should have some positive announcements soon about this!
  • Get better at coding. I’ve been “learning to code” for over 6 years now. I just need to focus on come up with a plan to get much better at it and build some apps from scratch. 

Conclusion

The 2010s was a bit of a roller coaster ride, but overall it was an amazing decade. I can’t wait to see what the 2020s bring!

How was last decade to you? I’d love to hear what happened!  

Process > Results

I recently listened to the book titled Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts by poker champion Annie Duke

Being a poker player, I was naturally compelled to read this book. And being an entrepreneur, I totally understand the difficulty of making decisions with little information. And Thinking in Bets crystallized this concept really well. 

The premise of the story is that in poker (and life) you have to make decisions with imperfect or very little information, and due to luck, the right decision may result in a negative outcome. 

For instance, before the flop comes, pocket Aces is the best hand in poker. So it’s always the right decision to raise pre-flop. But against another pocket pair, there is an 18% chance you will lose. So if your Aces get beat by another pocket pair, were you wrong for playing your Aces the way you did? 

On the flip side, you can make a terrible decision and play your hand like crap, and still win.

Here’s another example. In Super Bowl XLIX, the Seattle Seahawks had a 2nd down at the New England Patriots’ 1-yard line with 26 seconds left on the clock and a chance to win the game. They had one of the best goal-line running backs in Marshawn Lynch. But head coach Pete Carroll decided to call a pass play, and Seattle QB Russell Wilson threw an interception to end the game 

Many have called this the worst decision in football history. 

But what if Russell Wilson threw a touchdown? What would people have thought about Carroll’s decision? They would have likely said that it was “gutsy”, “brave”, and “fearless”.

In reality, the decision actually made sense, primarily due to clock management and the defensive formation the Patriots ran. I won’t get into it here, but you can check out this Slate article and this SBNation article for more info. 

We all make decisions with imperfect information.

Maybe it’s a decision to hire someone for your team at work, and that person doesn’t perform as expected. 

Maybe you decide to buy a new house in a great neighborhood, but a black swan event happens and the house’s value goes under water. 

In both cases, you could have done all of your research correctly, checked off all of the boxes, dotted your T’s and crossed your I’s. But sometimes things happen that you have no control over. 

If this happens, do you doubt your decision-making abilities? Do you not trust your process anymore? 

Certainly, you should try to find the holes in your thought process. Did you not see something you should have seen? Did you not do enough research? 

But if you’re confident you did all you can do, you shouldn’t doubt yourself just because the outcome wasn’t positive. 

If the outcome turned out the way you expected, I’d bet that you would think you’re a genius, right? Right. 

So the point of this all is to separate the outcome from the process. Whether you were right or wrong, you can’t let the result of your decision cast doubt on the work you did to get there. 

I think this is a really important mindset to have. Process over results!

Have you been in any situations where you thought you made a correct decision that turned out negatively? I’d love to hear your thoughts!

Where do you go to do your best work?

I was chatting with a fellow startup buddy who primarily works out of coffee shops around DC. I asked him the question, “What’s your algorithm for selecting which coffee shop you’re going to work at each day?”

He said that it depends on the type of work that he needs to get done that day. If he needs to write, he’ll go to Coffee Shop #1. If he needs to get in a design frame of mind, he prefers Coffee Shop #2. For most other tasks, he’ll go to Coffee Shop #3.

I thought this was so interesting.

I work in an office two days a week and split the rest of my work week between home, a co-working space, and (less frequently) coffee shops.

These are vastly different environments with varying levels of noise, distractions, and comfort. So if I need to take calls on specific days, I’ll avoid coffee shops because they are too noisy. Or if I’m a bit tired, I’ll avoid working from home (that couch is soooo tempting) and will go to a co-working space or coffee shop so I can be surrounded by more energy.

But I never thought about which environment would be better for specific types of work, especially not to the granularity of different coffee shops (which are all pretty similar) for different skills.

There’s been a lot of talk about the importance of work environments, much of it surrounding the controversy of whether open offices are good or bad for productivity. For example, see these articles from The Washington Post, The Ladders, and David Heinemeier Hansson (DHH is the founder of Basecamp and Ruby on Rails and has very strong opinions on the workplace).

Open offices promote collaboration, teamwork, and ideation. Open offices are noisy, lower morale, and increase interruptions.

The fact of the matter is that everyone works differently, and this can change with the day of the week. Or the type of work that needs to be done.

Many corporations force their employees to work from the office full-time. But I think that many companies are finally seeing the benefits of a more flexible work schedule for their employees.

Entrepreneurs often have the flexibility to experiment and find their ideal workspace for the type of work that they need to do or the mood that they’re in.

So my question is, do you know where you do your best, most productive work? Does the location vary by the type of work that you do, the mood that you’re in, or other factors? I’d love to hear more about your story in the comments, or tweet at me at @mikewchan.

Thanks for reading!

What I love and hate about learning to code

Since I became an entrepreneur nearly six years ago, I’ve attempted to learn to code a few times but never really stuck with it. I took some online courses learning Ruby on Rails and Javascript (Meteor and Node), but all that knowledge just faded away over time because I failed to continue to work at it.

I think it was because I wasn’t building projects that were that interesting or helpful to me. Now I’m learning Python and have stuck with it longer than anytime in the past because I’m working on things that directly impact my life.

I’ve written a small script that automates some of the reporting that I do for my day job (and I continue to improve it) and am working on a program that syncs my Amazon Alexa shopping list to Trello, which my wife and I use to organize our shopping list. You can read more about these projects in this Quora answer.

There are great and terrible things about learning to code. Here are my thoughts on what I love and hate about my journey.

What I love about learning to code

Thinking deeply

I enjoy thinking deeply through the problems that I face when learning to code.

When I’m learning something new, especially something as difficult as software development, I have to really concentrate to understand what I’m doing and what’s happening.

Still, most of the time I have no idea what’s going on.

But I do enjoy getting really deep in thought and pretending that I understand what I’m learning. 🙂

Logical thinking

Regardless of the programming language that you’re learning, you have to apply a lot of logic. I really enjoy thinking through what is the best logic I should use.

For loops, if/then statements, different ways to format your data – you have to be able to apply these techniques, and many more, in various situations. There’s always more than one way to do something with code, and the logic you apply will determine what’s the best solution.

Researching

I truly enjoy researching solutions to specific problems that I’m facing. I spend A LOT of time on Stack Overflow searching for solutions, and I really enjoy doing this research. I obviously don’t always know what I’m researching, but I like the process of researching and implementing a solution.

It’s an amazing feeling when something works

It’s an amazing feeling when, after a lot of thinking deeply, applying logic, and researching, the script you wrote actually does what you want it to do.

It’s actually my third favorite feeling in the world (the top two are bodily functions that I won’t get into, haha).

The Challenge

Learning to code is hard. And I like the challenge that it offers. It’s invigorating.

What I hate about learning to code

It’s really time consuming and fucking hard

I like the feeling of getting things done. And often I’m not getting anything done when I code.

There are times I just sit there and stare at the blinking cursor with no idea what to type next.

It takes FOREVER for me to write code. I’ve been working on some of these scripts for months and sometimes it seems like I’m going backwards.

It’s literally like learning a new language.

I do enjoy the challenge…most of the time. But there are times when learning to code just seems too hard.

I feel like I’ll never amount to anything

I don’t think I want to become a full-time software developer, but even if I did, I can’t imagine getting good enough at programming to become one.

I feel so far behind and don’t believe that I can really ever catch up to developers who have years or decades more experience.

When I get stuck on a problem and can’t figure it out, feelings of inability and stupidity pop up. It’s tough.

Conclusion

Learning to code is fun and shitty at the same time.

One minute I’m pumping my fist because something worked, the next minute I’m smashing my head against my desk because I broke something and have no idea what.

Hopefully the pros will outweigh the cons and I’ll just keep cranking away at it.

 

What if things went right?

Prospect Theory graph

Most people believe losses hurt more than gains help.

When presented with a difficult or speculative decision, many people’s first thoughts would be about what could go wrong.

But what if things went right?

I’ve invested some money into Bitcoin, Ethereum, and other cryptocurrencies and frequently have conversations with others about this. Some of the negative things I hear are:

  • Have fun losing your money!
  • I’d never invest in anything not backed by a real asset
  • Crypto has no intrinsic value – I’ll pass

I’m not saying that you should invest in things you don’t understand. I totally get if crypto is too speculative for many, and I’m prepared to lose the amount I invested; it’s not enough to break my bank if things go to shit.

But what if some cryptocurrencies actually panned out? What if the underlying technology is the future of the internet (which I believe it is), adoption rose over the years, and thus the value of these cryptocurrencies increased in lockstep? A lot of money can be made.

There were so many things that could have stopped Uber or AirBNB from becoming a reality. Local regulations did not allow for ride- or home-sharing. Riders or travelers would certainly think sitting in someone else’s car or sleeping in another person’s home would be sketchy. And who the hell would want someone else in their car or home?

If the founding teams of Uber or AirBNB actually allowed these hurdles to stop them from creating these products, the world would be a very different place right now. We’d still be waving down cabs on the street and staying in overpriced hotel rooms.

But Travis Kalanick, Brian Chesky, and the companies’ investors thought about what could go right, instead of wrong. And these companies have changed the world.

Humans are naturally loss and risk averse, and according to prospect theory, losses have more emotional impact compared to an equivalent amount of winnings.

It’s difficult to go against human nature. It’s natural to think about what could go wrong, especially if you have a lot to lose and people depend on you.

But what if things went right?

What I Learned from Indra Nooyi on Freakonomics Radio

Indra Nooyi

Image courtesy of Wikimedia Commons

I recently listened to an episode of Freakonomics Radio with Indra Nooyi, the CEO of PepsiCo. It was an amazing listen, I highly recommend it.

While Indra talked about so many interesting things she has experienced during her tenure at PepsiCo and her life in general, I took away three main points from the interview:

  1. How getting close to the customer is all that matters
  2. The importance of a STEM education, even for someone in the food business
  3. Developing “adaptation strategies”

Let’s dig deeper.

How getting close to the customer is all that matters

Around 13:50 of the interview, Indra talks about how men and women eat snacks differently. Men will loudly crunch on their chips, lick their fingers, and tip the bag to pour the remaining crumbs into their mouths. Women won’t crunch out loud, won’t lick their fingers, won’t pour crumbs into their mouths, and like to store snacks in their purses.

Indra has institutionalized the importance of deeply understanding customers into PepsiCo and uses that knowledge to design all aspects of their products – from packaging, shelving, storage, all the way to consumption. She frequently scans supermarket shelves to see how products are displayed, and sometimes visits customers’ homes to see how they’re storing and consuming the product.

All of this research and knowledge goes into a bag of Doritos. Seriously.

No matter what industry you work in – food, construction, technology, or any other – if you truly understand everything about your customer, you’ll be successful. You need to figure out how they select products or services, how they consume them in different scenarios, what their pain points are, and much more to add as much value as possible.

Importance of a STEM education

Around 16:40, Indra stresses the importance of having a science, technology, engineering and math (STEM) education.

How does the CEO of a global food and beverage company benefit from having a background in science?

Her education helps her better understand the science behind the research, development, and marketing of new, healthier snacks and foods.

Because nutritious foods are more highly scrutinized, PepsiCo has to back up these products with scientific facts. And the CEO needs to fully understand and communicate these facts to customers.

Additionally, knowledge of science helps her better grasp and communicate to her staff and Board of Directors why she is funding these scientific R&D initiatives and how they will get the company to a better place.

Indra mentioned that science is much harder to learn when you’re older, and if you have that foundation in STEM, you can easily learn anything else along your career journey. So true.

Development of adaptation strategies

Finally, around 31:30, Indra talks about developing “adaptation strategies” to deal with the things that life throws at you.

Indra talked about how her mother told her to “leave the crown in the garage”, meaning that even though she’s the CEO in her career, she shouldn’t act that way when she gets home. If she did, she wouldn’t be a good mother, wife, or daughter.

I think development of these adaptation strategies is really powerful. If you don’t adapt to your surroundings, you’re going hate life. If you act the same way in every situation, you’re going to alienate a lot of people, or be alienated by a lot of people. If you don’t adjust to the environment around you, you might have difficulty moving forward.

I’m not saying you shouldn’t be yourself. But there’s a lot of value in recognizing the situation you’re in and adapting to the environment.

Conclusion

Being the CEO of a massive international organization is a tough job. And Indra Nooyi basically laid out a blueprint on how to excel at it.

Regardless of what industry or function you’re in, I would highly recommend giving the episode a listen. Let me know what you think of it.

I saw a therapist today for the first time

Yup, I went to a therapist today. First time ever.

Psychotherapy

No, I did not lie down on a couch. Image courtesy of Wikimedia Commons

Over the last couple of months, I’ve been having very odd dreams where certain scenes and scenarios repeat themselves.

There are certain buildings that I’ve never seen in real life popping up in dreams over and over again. I sometimes find myself in a vehicle on a car lift about 50 feet above the ground, scared shitless. I’m often running away from or toward something. Weird, right?

So I decided to see a therapist to discuss my dreams.

Years ago, the alpha-male version of myself would have looked at someone who went to therapy as weak and fragile, and the thought of going to therapy would have never crossed my mind.

I’m a different person now, and I think it’s because I’m an entrepreneur. For better or for worse.

My therapist said that dreams are the mind’s way of processing everything around you. Your environment, everything that you do and deal with on a daily basis, and all your fears and anxieties can be manifested in your dreams.

And that’s probably what’s happening with my dreams. The stress and uncertainty of being a startup founder is the likely cause of my weird dreams. What these dreams mean is TBD.

Whenever I speak with people interested in startups and entrepreneurship, I say that managing your psychology is the hardest part.

Many of these budding entrepreneurs and founders are really smart people who have seen nothing but success in their careers. They’ve climbed the corporate ladder, obtained raises and promotions, and haven’t failed at all.

I’ve been in their shoes before. So I warn them about how it feels when things aren’t working. And things will not work a lot. Things haven’t worked for me for five years.

I also tell them how good things feel when things do work, and how you have to celebrate little wins, as insignificant as they may be. This keeps you sane.

There’s a great post titled “The case against entrepreneurship“, where the Co-founder and former CEO of the mobile game Dots, Paul Murphy, describes how difficult entrepreneurship is. Paul describes a lonely and expensive existence full of problems, fear, and greed.

One of my favorite startup writers is Nate Kontny, CEO of CRM software Highrise. He wrote a recent piece titled “Making it personal” where he describes why he puts so much of his personal life into his content and talks about the lows as well as the highs.

This kind of content – real, raw pieces that highlight the tough parts of entrepreneurship – really resonates with me and my journey. Sure, the “how I grew my business 100% in 30 minutes” or “25 things you need to do before 5AM to be successful” articles are inspiring, but that shit gets old quickly. To the writers of these articles – I’m happy for your success, I really am. Maybe even a little envious. And you are inspiring. But I don’t just want to hear about your success, I want to learn about everything you went through, even the tough times, to achieve it.

Anyway, back to therapy.

Entrepreneurship is hard. Tech startups are even harder. I knew that going into it.

Managing your psychology is one of the most important and difficult parts of being an entrepreneur. It’s not helpful to keep everything inside and having it build up until you explode.

I’m not at any risk of hurting myself or anyone around me. Many might say that I don’t truly need therapy. Maybe they’re right. But I think talking to an objective, professionally-trained third party can help get my mind right, and I’ve chosen to do that.

Let’s see how this goes.

A look back to 2017 and forward to 2018

At the beginning of this year, I didn’t make any resolutions like “lose 5 pounds” or “work out 3 times a week.” Rather, I just vowed to be more focused, disciplined, and consistent in work and life.

Let’s see how I did, and what’s in store for 2018.

Looking back to 2017

Focus

For 2017, I pledged to be more focused on a macro level (doing fewer things better) and a micro level (focusing more on the task at hand).

I’d call this a minor win.

In 2016, I spent a lot of time working on my podcast, the Go and Grow Podcast. While I really enjoyed it and it helped build an audience, it wasn’t getting me closer to my goal of launching my startup. So I put it on hold, which gave me more time and mindshare to work on WinOptix. That was a win.

But I did and continue to spend a lot of time learning how to program in Python. Python is great for data science (which will help with WinOptix) as well as back-end and web development. While learning Python took away some time and focus away from WinOptix, I think it will help me become a better technical leader, which will certainly help the company and my career in the long run.

On a micro level, there were certainly times where I got distracted from the tasks I was working on. But overall, I was very consistent in using the Pomodoro Technique and turning off notifications on my phone to stay focused. (Just as I write this, my phone buzzed. Ugh.)

Discipline

I vowed to be more disciplined with my schedule and diet and exercise regimen.

I’d also call this a minor win.

I made it a point to schedule my tasks in my Google Calendar the night before or morning of a work day. Specifically assigning a time to execute the task and setting its duration forces you to focus on that task and not allow it to expand. Super helpful.

Overall, I was relatively disciplined with my diet and exercise, if you leave out the last two weeks of holidays. 🙂  I worked out about 2-3 times a week, with a mixture of basketball, lifting, and push-ups and sit-ups at home. And overall, I think I ate pretty healthily over the year. Vicky and I did do the keto diet for a while, but my cholesterol spiked, so I had to stop. So I just went back to a balanced diet.

Consistency

I’d call this a draw.

I was pretty consistent in working on WinOptix. I worked an additional 10-20 hours per week on nights and weekends to make as much progress as possible.

I mostly kept up with posting to this blog weekly, only missing weeks where I was traveling or on holidays.

Unfortunately, I don’t think I was as consistent with blogging for Thorn Technologies. Writing about very technical topics like cloud computing can be tough.

And I was just OK in staying consistent on social media and keeping up with personal and home improvements.

A draw sounds about right.

Looking forward to 2018

2018 is going to be a big year. Yeah, I know, I say that every year. But for real.

First of all, I’m turning 40! So I better figure out my life soon. 🙂

Next, there are a few things that I’d like to accomplish this coming year.

While I’ll continue to be more focused, disciplined, and consistent, there are a few specific goals that I’d like to achieve.

The first is to acquire at least 5 paying customers for WinOptix. We’re launching the product by the end of January, and hopefully we’ll get a ton of feedback from our initial users to make the product better to the point where they’d be willing to pay for it. Then we can really go out to the market and sell it.

Second, I’d like to complete at least 3 Python projects. I’m currently working on a Pomodoro timer and a program that takes data from CSV files, concatenates them, and runs reports on the data. So my goal is to complete those and add one more project to the mix.

Finally, I want to be a better dad and husband. While this isn’t as concrete as the other two goals, it’s still something to strive for. I think I’m doing a good job, but I can always get better.

What are your goals or resolutions for 2018?

I’d love to hear from you. Write your thoughts in the comments, tweet at me @mikewchan, or email me at mike@mikewchan.com.

I feel like I’m starting over everyday…is that a good or bad thing?

Starting line

Ever since I became an entrepreneur over five years ago, there have been many starts and stops and ups and downs. Two steps forward, one step back (or sometimes three). The roller coaster ride is to be expected.

But what I didn’t really expect was how it feels like I’m completely starting over…every…single…day.

Not knowing anything. Researching all the time. Feeling lost. But learning a lot.

Is the feeling of starting over everyday a good or bad thing?

The good parts

Let’s start with the good.

First of all, I’m constantly learning.

There’s always a new marketing channel or tactic that needs exploration and experimentation. And even with the tactics that I’m knowledgable about, there are so many different ways to execute them to address different target customers, points in the buying cycle, and many other scenarios.

And running my startup WinOptix involves so many skills where I’m admittedly weak.

I’ve had experience recruiting in the past, but mostly for marketing roles. How do I properly assess the quality of a software developer or a UX designer? Sure, I can take a look at their GitHub or Dribbble pages. But that’s only scratching the surface. It’s tougher to discern how the person will work with you and integrate into your team, how hard he or she works, and many other factors.

I have plenty of marketing, sales, and business development experience, which has definitely helped in building software for these folks. But I’m attacking an space, government contracting, where I have little experience. So learning about the industry is a task that continuously needs to be addressed, and there’s always something new happening that I need to absorb.

I’m learning Python, and holy shit, that’s literally learning a whole new language. Some days I get it, other days it feels like I’ve never seen a line of code in my life. But learning to code forces me to concentrate and think deeply to solve problems. And when those problems are solved, boy does it feel good.

Secondly, things are fresh and I’m never bored.

Unless you count my five years of entrepreneurial experience as one job (I wouldn’t), I’ve never held a job down for more than 4.5 years. And before that gig, my longest tenure at a company was 1.5 years.

This is so millennial of me, even though I’m not one.

I’m not sure if I just get bored, if I’m not challenged enough, or both. I just need to constantly learn and do new things. That’s why entrepreneurship seems to be the right fit for me, at least for now.

Learning new things keeps my days fresh and exciting for me.

The bad parts

The first bad thing is that I often feel lost and helpless.

If you’re a newbie at anything, there are many times where you just don’t know what to do. Sure, you can research some blog posts, read that answer on Stack Overflow, or ask a colleague or friend what you should do in specific situations. But not knowing so many things can wear on you and make you feel like you’ll never be able to learn or accomplish anything.

Next, I’m becoming more unemployable by the minute.

Who the hell is looking for a marketer who has also been doing a little bit of sales, product, and strategy, while also knowing a little bit of Python, data science, and design?

While that description doesn’t sound too bad, it’s really broad. While I can go relatively deep on some subjects, I’m a generalist. And many companies want specialists with focus and depth of knowledge.

Finally, I feel that I’ve wasted a lot of time and money.

I’m a pretty educated guy – undergrad degree in Materials Science, Masters in Industrial Engineering, and MBA. But unfortunately I don’t use a lot of that education I’ve obtained.

I’m not saying I regret getting those degrees and that they haven’t helped my career at all. My engineering degrees certainly have taught me how to think logically and analytically, and my MBA gave be a broad business perspective and a strong network.

Yet I just feel that despite all my education, I’m still researching everything and feeling lost more often that I should be. Sure, I got those degrees a long time ago, and things have changed. But damn, I just think they should have more impact on my everyday work.

And shit, I’m almost 40 years old. Maybe I’m writing this blog post due to a mid-life crisis, maybe I’m just really introspective, or both. Regardless, it’s hard to see 20-somethings crushing it and making it on award lists like Forbes’ 30-under-30, as meaningless as those lists are. It’s difficult to not think back and say “Man, I wish I had known 15 years ago…”

Conclusion

There’s not much to conclude here. I’m really not sure whether feeling like I’m starting over everyday is a good or bad thing.

I love learning, and acquiring new skills will certainly help my career. But being a beginner at a lot of things doesn’t add that much value in the end.

Maybe I need more focus. But then boredom might eventually creep in. Then what?

What do you think? Do you ever feel like you’re constantly starting over? I’d love to hear your thoughts.

In poker, business, and life, there’s only one real way to learn – by doing

poker-390064_1280

I took the last two weeks off from blogging because I was traveling for Thanksgiving to NY/NJ and the Amazon Web Services re:Invent conference in Vegas. I hope you didn’t miss me too much.

Anyway, while in Vegas, I of course had to hit up the poker table. Many times.

During one late night/early morning session, a pretty young guy (let’s call him Chad, I don’t remember his real name) who was also there for the conference sat down next to me. Nice guy, pretty chatty, and probably had a few drinks in him, like everyone else at the table.

He sat down with $100 and lost it within 20 minutes.

He whipped out another $100 and lost that within another 15 minutes, most of it to me on one hand.

He took out another $100. At this point, the guy sitting on the other side of him and I started helping Chad out a little. We told him how it was OK to fold once in a while (he essentially played every hand), the importance of position, and other poker fundamentals.

Regardless, he lost that last $100 pretty quickly.

When he left the table, I looked around and said “I guess there’s only one way to learn,” and everyone had a good laugh.

You can read all the poker books in the world and watch the World Poker Tour on TV, but once you step into that casino and sit down at the poker table, everything changes. And the only way to learn is to play a lot of real hands and probably lose some money.

You can read all the books and blog posts about how to build a company, recruit a team, develop a product, and more, but until you actually start putting in real work, you won’t learn how to do all that.

You can prepare yourself for raising that baby, but childcare books won’t ever prepare you enough for changing that first shitty diaper or dealing with a 2-year old’s temper tantrum.

The only real way to learn anything is to do it.

I’m not sure if Chad will learn from his experience in Vegas. After all, it was late, he was probably drunk, and it’s Vegas, so who really cares about losing a little money, right?

Regardless, the lesson is that there’s no better way to learn than by actually doing.

You’ll never be able to replicate situations at the poker table, in business, or life. The only way to learn is having the direct experience of doing.

So what will you do today to learn?