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PERSONAL NOTES FROM THE TIM FERRISS PODCAST

MARCH 15, 2018
Click HERE to Check Out the Podcast

NOTES

*** Tim’s questions are colored blue

  • Former CEO of home depot 
  • Crazy good terms podcast 
Tim “starting with common ground” 
  • Built to scratch book 
Could you let us know which parts of the built to scratch book were helpful? 
  • Great entrepreneurial story 
  • How you lead from an inverted pyramid 
What did you think you would grow up to be when you were in high school? 
  • Interested in politics
How did he engage in entrepreneurship as a lawyer (which are usually risk averse)? 
  • Starting a law firm 

What did Jack Welsh ask in that first meeting with Frank?

  • First “how are you organized?” because that tells a lot of what your priorities are
  • Other questions would be about people

Single most important aspect of leadership: generosity 

  • Jack Welsh: “I don’t need to pay people to tell me that I’m right, I pay people who are going to tell me where I’m wrong” 
  • Advice as a CEO “you’re going to tell a joke and everyone is going to laugh, even if you’re not funny”

How do you celebrate?

You get what you celebrate 

  • People respond to being recognized 
  • Everything you do is in front line of your associates 

What type of metrics were being looked at?

  • especially NPS = net promoter score

Exploring the macro by digging into the micro 

Favorite “failure”?
  • Before becoming CEO, his son was given a temporary assistant manager position (after coming from Iraq).
  • Frank was sent to a Home Depot store to check it out. It was very badly managed and it was actually the store over which his son was looking over.
When something is bothering you, what is the thought process, how do you do something with it? 
  • What am I worried about? Go check it out – fact-finding

People progress in life from solving bigger problems

  • Don’t assume that your worry is well founded 
Tim: “outsourcing the worry” – knowing that someone else is worrying about that thing 
What you always want to get to is simplicity on the other side of complexity 
  • When you get there you know you got it and really understand it 
  • Whenever you find yourself bound up in complexity just know that you haven’t worked it hard enough

There are 2 places where you should spend money, if necessary.

1. Your matress

2. Your shoes

If you’re not going in one, you will be in the other.

If you were going to teach a class to high-school students, what would you teach and why?

  • History – because it’s about people

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Life enthusiast with a great desire to constantly perfect myself, get in better physical and mental shape, while also helping other people by sharing everything I’ve been able to learn.