Added: Sep 8, 2023
In this podcast episode, Ali Abdaal interviews Steven Bartlett, a renowned entrepreneur and author, about his path to success and the habits that helped him become a millionaire.Steven Bartlett's Unconventional Path to Success
Bartlett shares that he grew up in Plymouth as the only black family and the poorest family in the area. He faced insecurity and shame, and his parents stopped parenting him at a young age, creating a void of independence. Despite these challenges, Bartlett started running small businesses in school and realized that school and grades wouldn't lead to the success he desired.
The Importance of Quitting and Starting in Life
Bartlett emphasizes the importance of quitting and starting in life. He believes that quitting and starting should be held in equal regard, as they are both actions of winners. He shares his own experiences of quitting school, university, and startups to pursue his own path. Bartlett developed a quitting framework to help others make quitting decisions. The framework involves assessing whether the hardship of a situation is worth the rewards on offer and whether one believes they can make a situation better.
The Quitting Framework and How to Make Quitting Decisions
Bartlett's quitting framework consists of two subcategories: quitting because something is hard and quitting because something sucks. For the former, one must assess whether the hardship is worth the rewards. If it is, they should not quit. If it isn't, they should quit. For the latter, one must determine if they believe they can make the situation better. If they can't, they should quit. If they can, they should assess whether the effort required is worth the rewards. If it is, they should stay and fight for it.
The Power of Discipline and Its Relationship with Time
Bartlett discusses the power of discipline and its relationship with time. He believes that discipline is crucial for success and that many time management techniques fail because people lack discipline. Bartlett introduces the discipline equation, which involves assessing the why behind a goal, the psychological enjoyment of pursuing the goal, and the psychological dissatisfaction and friction experienced in the pursuit. He also emphasizes the scarcity of time and the need to allocate it intentionally.
The Impact of Limiting Beliefs and the Need for Self-Belief
Bartlett acknowledges his own limiting beliefs and insecurities. He shares that he believes he is not organized, which stems from his upbringing in a messy home. He also mentions other insecurities and feelings of not being enough. Bartlett emphasizes the importance of self-belief and the need to counteract limiting beliefs. He believes that first-party evidence and experiences are crucial for changing beliefs and building self-confidence.
The Role of Pain and Rock Bottom in Driving Change
Bartlett discusses the role of pain and rock bottom in driving change. He believes that change happens when the pain of staying the same becomes greater than the pain of change. He acknowledges that rock bottom can be a powerful driver of transformation and change. Bartlett also mentions the importance of growth zones and stepping outside of one's comfort zone to confront stubborn beliefs.
The Value of First-Party Evidence and Belief Change
Bartlett emphasizes the value of first-party evidence in belief change. He believes that knowledge alone is not enough to change beliefs. He shares examples of how personal experiences and witnessing others' experiences can provide first-party evidence that challenges existing beliefs. Bartlett encourages individuals to seek out growth zones and confront their beliefs to counteract stubborn beliefs.
The Connection Between Childhood Experiences and Insecurities
Bartlett reflects on how his childhood experiences have shaped his insecurities. Growing up in a poor and insecure environment, he developed a sense of shame and insecurity. He shares how these experiences have influenced his behavior and beliefs as an adult. Bartlett acknowledges that his ambition and drive may stem from these insecurities and the desire to prove himself.
The Motivation Behind Steven Bartlett's Relentless Drive
Bartlett discusses the motivation behind his relentless drive. He shares that he finds fulfillment in creating things that help and add value to others' lives. He mentions the joy he experiences when hearing from listeners who have been positively impacted by his podcast. Bartlett also acknowledges that metrics and milestones matter to him, but he recognizes the importance of finding intrinsic motivation and fulfillment in his work.
Progress Principle and Sense of Forward Motion
The progress principle refers to the idea that individuals experience a sense of fulfillment and motivation when they have a feeling of progress in their work. According to Harvard Business Review, people reported having their best days at work when they felt a sense of progress. This principle aligns with the concept of forward motion, which is the idea that humans need to feel like they are moving forward and making progress in order to stay motivated. Steven Bartlett emphasizes the importance of constantly reminding oneself and the team that they are going somewhere, as it creates a feeling of progress and motivation.
Importance of Challenging Yourself
Bartlett highlights the significance of challenging oneself in order to grow and achieve success. He refers to the example of Sir David Brailsford, who transformed the British cycling team into the best in the world. Brailsford's focus on marginal gains and continuous improvement played a crucial role in their success. Bartlett explains that finding small ways to improve and celebrating those 1% gains can have a significant impact on motivation and the feeling of progress. Challenging oneself and focusing on the smallest things can lead to enjoyable wins and a sense of forward motion.
Pursuing a Goal that is Subjectively Meaningful
Bartlett emphasizes the importance of pursuing a goal that is subjectively meaningful to each individual. He mentions that everyone on his team has a different reason for working with him, and it is essential to help each team member find their own reason. Bartlett believes that as long as individuals have a personal reason that aligns with their values and aspirations, it doesn't matter if their reasons differ from others. The key is to find a goal that feels worthwhile and meaningful to oneself.
Autonomy and Control in Your Work
Autonomy and control over one's work are crucial factors in feeling motivated and fulfilled. Bartlett explains that when individuals lack control and autonomy in their work, they are more prone to physical and psychological challenges. Having control and autonomy allows individuals to feel like they are not confined and can make decisions that align with their own judgment. Autonomy and control contribute to a sense of freedom and satisfaction in one's work.
Working with a Supportive Community of People
Bartlett emphasizes the importance of working with a supportive community of people. He believes that having a supportive team enhances all the other factors mentioned above. When individuals feel supported by their colleagues, it makes the progress principle, challenging oneself, pursuing meaningful goals, and having autonomy and control even more effective. A supportive community creates an environment where individuals can thrive and enjoy their work.
Philosophy Towards Work
Steven Bartlett shares his philosophy towards work, which is driven by his entrepreneurial spirit, self-belief, and curiosity. He describes himself as having a "disease of entrepreneurship" and a desire to build in different areas. Bartlett believes in the importance of caring about the work he does and finding fulfillment in it. He mentions that he loves marketing, psychology in business, and the creative element of creating something that makes people feel something.
Team Culture and Team Philosophy
Bartlett emphasizes the significance of team culture and team philosophy. He believes in creating a culture where experimentation is encouraged, and the team works together to find the right answers before other teams. He mentions that he is good at marketing and has a passion for understanding how the things they create impact humans at a profound level. Bartlett also discusses the importance of having a diverse team with different perspectives and skills.
Marketing
Bartlett expresses his love for marketing and psychology in business. He believes that marketing is a form of psychology and enjoys understanding how to influence people's emotions and behaviors. He mentions that he obsesses over every detail of marketing, including titles, thumbnails, trailers, and story arcs. Bartlett's focus on storytelling and creating experiences that make people feel something is evident in his work across his various companies.
Investing in Companies
Bartlett talks about his involvement in investing and attending board meetings for companies he has invested in. He mentions that he has a desire to build in different areas, which led him to invest in companies related to blockchain and psychedelic business. Bartlett believes in backing himself and investing in his own companies. He mentions his plans to invest in Flight Story and Third Web, as well as his involvement in philanthropic initiatives.
Balancing Work and Personal Life
Bartlett acknowledges the challenge of balancing work and personal life. He mentions that he has created rules, such as having dedicated date nights, to prioritize his relationship with his girlfriend. He believes in finding harmony rather than balance and adjusting the allocation of time and energy based on what matters most at a given time. Bartlett also discusses the importance of communication and expectation alignment in relationships.
Dealing with Criticism
Bartlett acknowledges that criticism is an occupational hazard, especially as a public figure. He mentions that he has learned to focus on feedback that is potentially valuable and aligns with his personal integrity. Bartlett emphasizes the importance of staying true to oneself and not letting criticism affect his sense of self-worth. He mentions that he has put systems in place to manage feedback and avoid getting caught up in negative comments.
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