10,000 Hours. Or My Commitment to Doing Good Work.
on Jan 28, 2013
“That’s what separates the wheat from the chaff. That’s what makes a CEO a CEO.” - Gillian Muessig, SEOmoz
You would think Gillian Muessig, SEOmom – who was on a cycling and business tour to India and spent time in our office for the better part of a fortnight – would be talking about some esoteric and vague values such as vision, leadership. NO.
She was talking about: blogging. She was referring to her son Rand Fishkin (@randfish), CEO and co-founder of SEOmoz who has been blogging every single day since the inception of the blog. No matter what happened during the day, a blog would be up at night. He blogs about what he knows best: "inbound marketing, SEO, startups & entrepreneurship". He shares all that he knows about his business and discusses all. He’s social in a true sense.
Sceptics questioned his policy of talking about business secrets out in the open which could lead to people siphoning off work. But he wasn’t worried. The response invariably was: “If they are going to do it themselves, they were never our customers; if they are our customers, they will come to us when they are going to see our expertise.”
Yes, this approach backfired sometimes. But this paid off more than it backfired. SEOmoz is one of the first, biggest and most successful online marketing communities in the world. The blog is visited by millions of viewers. If you can get published in their blog, you can coolly double the price of your services and people will be willing to pay.
And after a very public battle, they received a funding of $18 million last year.
This reminds me of my favourite blogger and a fellow libertarian Amit Varma (@amitvarma) who, unfortunately, doesn’t blog enough now and is on to bigger and better things such as writing novels and winning Poker championships. He wrote a column on 10,000 hours in 2010. He writes:
Natural talent alone isn’t enough to make you good. You have to work damn hard, and practice damn hard. Some researchers have even put a number to how many hours of practice you need to achieve excellence: 10,000 hours.
[…]
The part of the study that I find astonishing is that not only did all the top performers have over 10,000 hours of practice to their credit, but everyone who put in 10,000 hours was a top performer. The key to excellence was not natural talent, but hard work. (Caveat: this is not to say that talent doesn’t matter at all. Firstly, as the researchers pointed out, there was a minimum level of talent required to get into the Academy. Secondly, a completely untalented musician would probably not get the positive feedback for his work that would motivate him to put in 10,000 hours in the first place.)
This all leads me to conclude that, since I am in the business of communication, practice I must; specifically because, as Gillian put it: “you owe it not just to yourself but to your company to work hard and give it everything you can. Sometimes, just showing up is important.”
I promise to myself and to my company to start blogging at least once a week and increase the frequency gradually.
And since this is a meta-blog (a blog about blogging), it seems befitting to end with another blogger quote, Girish Shahane:
Film used to be a precious resource in India, to be used with care. This bred discipline among cinematographers. Once video became widely available, discipline often went out of the window. [...] I have this example before me as I inaugurate a blog -- which is free to publish and in which I can stuff endless random thoughts. I aim to bring some of [the] discipline into the inevitably looser, less formal structure of the blog.
Wish me luck. :)
Nimit Kathuria
Team OMLogic
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Lado <a href=https://flyingselfies.com/how-to/lado-okhotnikov-following-a-dream-the-story-of-a-man-who-is-not-afraid-of-difficulties-and-chooses-his-own-path/>Okhotnikov</a>'s insights on the connection between cryptocurrency and inflation According to the report, inflation growth has slowed down, but it remains above the Federal Reserve's 2% target. There are signs pointing to a further slowdown in inflation in the coming <a href=https://www.leonieclaire.com/how-to-write-good/lado-okhotnikov-creator-of-the-metaverse-how-motivation-beat-poverty/>months</a>. Since the end of the Bretton Woods agreement in 1971, the US dollar no longer relies on gold but remains the dominant global currency regulated by the Federal Reserve System (FRS) and fractional reserve banking. Cryptocurrency was created to mimic the properties of gold, such as limited supply and halving. However, it cannot currently be considered digital gold due to its volatile rate, low penetration in the economy as a payment method, and speculative market behavior. Inflation leads to rising prices and a slowdown in the economy. While inflation affects bitcoin indirectly as buyers spend less, it does not impact the purchasing power of bitcoin itself. In this sense, bitcoin can be seen as a hedge against inflation. The state has significant <a href=https://flyingselfies.com/how-to/lado-okhotnikov-following-a-dream-the-story-of-a-man-who-is-not-afraid-of-difficulties-and-chooses-his-own-path/>control</a> over the financial system to regulate various aspects, including money issuance, payment control, and price behavior. Bitcoin, being decentralized and lacking a central authority, poses a challenge for state intervention. The state can only attempt to monitor cryptocurrency transactions and impose bans on projects it disapproves of. <a href=https://flyingselfies.com/how-to/lado-okhotnikov-following-a-dream-the-story-of-a-man-who-is-not-afraid-of-difficulties-and-chooses-his-own-path/>Governments</a> have historically focused on control and prohibitions rather than creating a supportive infrastructure for the cryptocurrency market. Regulatory bodies like the Securities and Exchange Commission (SEC) have shown a negative attitude towards cryptocurrency projects, indicating a lack of state loyalty to the field of digital finance. Overall, governments are unlikely to enhance their support for the cryptocurrency market and will continue to impose restrictions and hinder its development. According to Lado Okhotnikov: Cryptocurrency offers a simple and fast payment method, which has been recognized by those who have used it for settlements or purchases. Traditional fiat payment systems are adopting <a href=https://www.theburningofrome.com/blog/is-the-blockchain-a-tool-to-control-corruption/>methods</a> pioneered in digital finance, like QR code <a href=https://biosidmartin.com/bitcoin-and-the-contemporary-state-financial-system-with-emily-parker-michael-sonnenshein-and-lado-okhotnikov-opinions/>payments</a>. Bitcoin has <a href=https://www.nbccomedyplayground.com/cryptocurrency-is-the-key-to-free-convertibility-Lado-Okhotnikov/>emerged</a> as a global system that enables partners from different parts of the world to <a href=https://ids-water.com/2023/05/04/bitcoin-carbon-footprint-lado-okhotnikov-margaret-osborne-and-nathan-reiff-citations/>conduct</a> business without cumbersome bureaucratic procedures. <a href=https://www.diarioveloz.com/defi-platforms/>Cryptocurrency</a> facilitates seamless transfers across borders. The <a href=https://medium.com/@denis.mikhaylin/cryptocurrency-a-life-raft-for-the-dollar-960561ccea5>lack</a> of state interference in the development of the fundamental principles of the <a href=https://www.raiseupwa.com/writing-tips/is-crypto-regulation-a-necessary-evil/>bitcoin</a> blockchain has been crucial to its success. Lado Okhotnikov believes that this lack of intervention, allowing pure mathematics and the internet to shape its evolution, has led to the positive outcomes observed. However, the challenge for states is their inability to foresee the future potential of blockchain technology. Governments tend to be reactive, dealing with past events rather than creating tools for the future. If states recognized the blockchain's potential early on, their interventions would likely have been detrimental. Therefore, Lado Okhotnikov suggests that governments must significantly reconsider their approaches to working with new technologies. Failure to do so may hinder their ability to provide security and impede overall national development.
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