Episode #272: Scott Galloway – The Algebra Of Happiness

Scott Galloway is a Professor of Marketing at NYU Stern School of Business where he teaches Brand Strategy and Digital Marketing to second-year MBA students and is the author of the Digital IQ Index ®, a global ranking of prestige brands’ digital competence. In 2012, Professor Galloway was named “One of the World’s 50 Best Business School Professors.” Professor Galloway is also the founder of several firms including: L2 a subscription business intelligence firm serving prestige brands; Red Envelope, an e-commerce firm (2007, $100mm revs.), and Prophet, a global brand strategy consultancy with 250+ professionals

Professor Galloway was elected to the World Economic Forum’s “Global Leaders of Tomorrow,” which recognizes 100 individuals under the age of 40 “whose accomplishments have had impact on a global level.” He is also the NY Times best-selling author of, The Four.

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“Steve Jobs is the most famous deadbeat dad.  We should worship character and kindness.” — Scott Galloway

Show Notes:

  • Commonalities of sustaining excellence:
    • They are demonstrably great at multiple specialty areas
    • They have grit — a willingness to roll up their sleeves.  And work a lot.
    • They hold people accountable — “If they don’t perform, show them the door. Strategic firing.”
    • They have empathy – They understand other people and what they want to achieve
  • Scott explains why he’s a builder and a teacher
    • He’s an NYU professor.  He also has started and ran three successful businesses at the same time.  This allows him to give practical, real life, advice to his students
  • The best method for learning is teaching — “It forces you to really know what you believe.”
    • “You have to prepare, have themes, support them with research.  You have to bring it.”
  • His viral videos — “I try to behave as if nobody is watching… I need to be real and myself.”
    • Why he said, “Mark Zuckerberg is Putin’s bitch.”
  • “Steve Jobs is the most famous deadbeat Dad.  We should worship character and kindness.”
  • The power of saying “exactly what you think.”
  • “You’re smart to be afraid when you’re younger.”
  • Scott Galloway’s Career Advice:
    • 1) Get certified. Get your degree. College grades make 2X that of those who don’t graduate.
    • 2) Be remarkable (“So good they can’t ignore you”). What two attributes can you bring together that make you unique (the artist who knows how to use excel).
    • 3) Invest in variance – find the 6-8 things that are most important to your firm. Become in expert in a couple of them (Be a great public speaker, great writer)
    • 4) Get to a city (Allen Gannett agrees)
    • 5) Boring is sexy
    • 6) Delay gratification – Power of compound interest. Invest in something that will pay off
    • 7) Demonstrate strength and grit. Exercise everyday. Be stronger
    • 8) Don’t follow your passion – be passionate about being great at something.
    • 9) Ignore the myth of balance. He has balance now because he worked like crazy for 20 years.
    • 10) Build credibility.
  • Advice I received from my Dad when I first became a manager — “You can’t just be an inspiration guy. You need to understand the numbers, the business side, too.”
  • The best managers “move their chair next to the person they’re leading and have a real conversation with them.”
  • The myth of balance: “If you want to be a top 1% earner, then you won’t have balance.  I don’t know anyone who’s able to do that who doesn’t work their ass off.”
    • Did the money bring happiness?  “Yes, but also a divorce.  Money is a means to an end.”
  • The Harvard happiness study:
    • “Happiness is love full stop.” — “Love who you are, who you’re with… Love WHAT you do and who you do it with.”
  • Sweating vs watching:  “You should spend more time sweating than watching other people sweat.  High performers are physically fit.  Work out.”
    • “The only youth serum is exercise.”
    • “When it gets real, I want to be able to run fast or kill them all.  Working out gives me the confidence to do that.”
  • Things vs Experiences:
    • “We overestimate the happiness things will bring us.  We underestimate the happiness experiences bring us.”
  • The Four:
    • The hidden DNA of Amazon, Apple, Facebook, and Google.
    • Google = God.  Knows more about you than anything else
    • Facebook = Love
    • Amazon = Consumption
    • Apple = Signals your worth. Sex.
  • Why joining The Learning Leader Circle is a good idea
  • Use the “Get To Know You Document

“You should spend more time sweating than watching other people sweat.  High performers are physically fit.  Work out.”

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Episode 078: Kat Cole – From Hooters Waitress To President of Cinnabon

Episode 216: Jim Collins — How To Go From Good To Great

Episode 200: Keith Hawk & AJ Hawk — Showing Up, Doing The Work, Earning Trust, Helping Others, Winning The Super Bowl, Celebrating #200

Episode 234: Jocko Willink — Why Discipline Equals Freedom