Building a Life - Howard H. Stevenson

Dec. 24, 2021

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Howard H. Stevenson, Sarofim-Rock Professor of Business Administration, Emeritus

2:08 What is Success? • A State of Being • What one brings, what one is, what one was/used to be • Is it a score? Is it measured by money? Is it measured by stability? 4:20 “Compared to who?” 4:55 Velvet Rut (?) “The Problem Is: Sometimes things happen.” 5:26 Entrepreneur’s Idea of Success “Follow my lead.” • Different life path, Different Time, Different Game 6:15 Who is Me? What do I want? I’ve been doing what other people tell me to do 6:26 Choices (always choosing into the next day) 6:59 Success is a tough problem (a problem?) • Intrinsic vs Extrinsic valuation of oneself 7:47 (Resentment, Jealousy, Pride) 8:23 Multiple Success Universes Fear 1. I won’t succeed 2. I won’t succeed enough 3. I have to be someone else’s idea of a success 8:57 Success is getting what you want, happiness is wanting what you get (high in agreeableness = happy?) 9:47 Being The Big Don 10:37 Interviewing 150 high achiever, care about other people, have many connections, keep going and growing. Wide range of occupations. Felt good about themselves, through their years of seizing opportunities, avoiding regrets 12:20 People Treat Themselves In The Present ‘12:58 Acheivements are numerous. Money Power Fame 14:35 Unhappy with a legacy 14:57 Happiness is about present pleasure/joy. Legacy is defined about those who come after you. 16:05 Time, Impact Drivers of action Context/Epoch “I can very often hear my father speak when I’m talking” 18:43 Altruism requires someone who wants success of others 19:40 Find Your Passion • The way will produce the joy 20:42 Focus decides Memory 22:16 You can always maximize “I want a little more” 23:24 “I will finally be happy when….” 23:39 Storytelling of • Starting Small • Small Achievements • Build Bigger 25:08 Cambridge Joy exists outside the office 27:14 24 Hours A Day • Balance - a seal 🦭 spinning • Juggling - keep eye on all the balls 🤹‍♀️, catch and throw catch and throw, energy direction, practice • The Falling Ball is the one that requires to be watched and given most care 29:42 Making Attachments as a young person, making friends, sharing our lives. The sooner you realize what makes you happy, the better • Dinner with family What makes you feel badly? 31:04 Determined Middle of Life • Death Wakes People Up! 32:25 Many children = More balls to juggle Key Problem 32:58 All isn’t achievable. What industry do you want to be in? Who do you want to compete against? 34:24 Regret 35:00 “Enough” • Too Much, Too Little, Just Right Ideas 💡 books 📕 Time 🕰 Progress 36:50 Keeping a balance sheet, including donations, track it • A List shows you what you accomplish and what is left to be checked off Values, Kids 39:10 40:30 Enough sets limits, allows transitions + Motivating AND Rewarding 41:24 Enough needs Energy • Some people just can’t stop doing, can’t take a prolonged vacation 42:17 Influence on Family, Marriage bringing together values 43:32 Money Management 44:18 Frank Baton: The Weather Channel, paid to get off the Forbes list, wants to serve the customer best as possible • Harvard, Virginia, Old Dominion, Military School 46:18 Legacy: What will they say, what will they think? • A+ isn’t 100% • Practice/Development can generate success 47:24 The Future is always a bet/gamble, but trust tomorrow will come 47:56 Inflection Points (high drama, high stakes, lifechanging) They are gifts 🎁 48:53 Math Contest Winner, got to Stanford and recognizes he didn’t have the drive of those other guys 49:20 Win Loss Don’t Know, accept defeat challenge defeat. Am I where I want to be? Am I when I want to be? Am I what I want to be? 50:20 “Live Life Forward” not backwards - Change the past, what did you learn, go forward 51:35 Ireland vs England, when did they steal our land? • Generations have been watching it, it’s ours • Century-Long Conflict 52:21 The Mentor • Forming a board of directors 53:57 (Know Strengths and Weaknesses) 54:17 “Life is Risky” (it’s gonna rain on someone’s parade) but learn the risks to make better decisions, what risks can you control? (“Ignorance is not bliss”) 55:21 Ripple & Splash 💦 • Ripple - unknown impact your life had on others/the world 56:02 Values, Catch Falling Balls, Who Matters to you?, How long you got?