In their book, The Unfair Advantage, Ash Ali and Hasan Kubba highlight the crucial role of self-awareness in attaining clarity and success. By understanding our motivations, personality, and mindset, they argue that we can uncover our unique strengths and unfair advantages.
To facilitate this process, Ali and Kubba introduce the MILES Frameworkâan effective tool for discovering and evaluating our internal and external assets, whether earned or unearned, psychological or circumstantial.
The MILES Framework
Mindset
The chapter talks about how having the right mindset is crucial when using the MILES Framework. Ali and Kubba explain that your mindset can have an immediate impact on your life. They introduce the concept of gratitude, which they say can make you happier and more focused. They also talk about two types of mindsets: a growth mindset and a fixed mindset. They say that having a growth mindset is better but warn that relying on it too much might overlook the unfair advantages and limitations people face.
To balance things out, they suggest having a realistic perspective while still believing in possibilities. They call this a “reality-growth mindset,” which involves being self-aware, having self-belief, and setting achievable goals. The authors also talk about four characteristics of a strong reality-growth mindset: vision, resourcefulness, constant growth and lifelong learning, and grit and perseverance. Lastly, they stress the importance of mindset as they start discussing the core of the MILES Framework, beginning with money.
Money
Starting a business can be unfair if you don’t have enough money. According to Ali and Kubba, it’s a good idea to have 6 to 18 months of money to support yourself before you quit your job. This will give you enough time to focus on your startup and succeed. But if you don’t have much money, you can still start a business with low costs and find paying customers quickly. Learning marketing and sales, raising funds, and freelancing are other ways to increase your income.
However, the authors recognize that poverty and financial instability are not good for starting a business, and it’s important to have basic needs met. They briefly mention a solution called “universal basic income” to help people who are struggling financially. Finally, it’s worth noting that having a lot of money can make people lazy, while not having enough money can make them creative and resourceful.
Intelligence & Insight
Ali and Kubba discuss the different types of intelligence and how they can affect our journey as business owners. They say that while academic intelligence is usually recognized and measured, there are other kinds of intelligence, like social and emotional, that might not get as much attention. They suggest figuring out your strengths and weaknesses by looking at yourself and asking friends and coworkers for their opinions. They also write that it’s important to work with other people and find a partner who has different skills than you.
Be curious, ask questions, try things out, and be considerate of other people’s feelings and problems to develop your social intelligence, creativity, and insight. The authors explain that being intelligent or not intelligent can both have good and bad sides when it comes to starting a business. They say that it’s important to have a balance of intelligence and optimism to get through challenges. They also warn against only relying on your own experiences and say that it’s important to test your ideas with real feedback from the world.
Location & Luck
In this part, Ali and Kubba discuss how important it is to choose a good location for personal and business decisions. They say that just like we think about what we want when selecting a place to live, we should also be cautious when picking a location for our business. They suggest asking questions like whether similar businesses are nearby if you can find the talent you need there, and if it’s easy for customers to find you. The writers explain that even if you’re a solo business owner, the location can still affect things like how productive you are and how you meet people. They also discuss the importance of having an attractive website, good SEO, and a strong design for your online presence.
Next, they discuss luck, mentioning psychologist Dr. Richard Wiseman’s idea that people can make their own luck. They explain Wiseman’s four steps to creating good luck, which includes taking advantage of opportunities, trusting your gut, expecting good things to happen, and turning bad luck into good luck. Ali and Kubba write that it’s important to take action, meet people, and create opportunities to improve your luck. The writers also discuss how a location can have pros and cons depending on things like cost, talent availability, and competition. They say that a “bad” location could actually be good because it’s cheaper and you can work with people from all over the world.
Education & Expertise
Ali and Kubba discuss how education and skills are important to build a successful company. They say that it’s never too late to learn more, like getting a postgraduate degree or taking online courses. They suggest thinking about things like having a good idea for a startup, enjoying a certain career, and being able to afford it when deciding to learn more. The authors also talk about how studying case studies at business school, learning technical things in STEM fields, and developing important thinking and cultural skills through humanities studies can help build education and expertise.
They also encourage self-learning through platforms like YouTube and structured online courses, reading books for practical advice, seeking mentors, and learning by doing. The authors emphasize the value of practice, gaining experience, seeking feedback, and teaching what you know to solidify expertise. They acknowledge that one person cannot be an expert in everything and suggest finding co-founders or employees with complementary skills. Finally, they promote multidisciplinary thinking and the value of broad knowledge.
Status
In this section, Ali and Kubba talk about the idea of status and how it can affect our lives. They say that it’s important to know our own social status based on our background and the advantages we’ve had. If we’ve accomplished something noteworthy, like going to a prestigious school or working at a well-known company, it’s good to mention it on platforms like pitchdecks, LinkedIn, or resumes.
However, it’s also important to strike a balance and not brag too much, as this can hurt our relationships and lower our status. They say that status is more than just saying it out loud; humility is also important, and different cultures have different levels of tolerance for self-promotion. They encourage people to be true to themselves, not play down their accomplishments when necessary, and avoid unnecessary self-praise.
The authors say that being confident and believing in yourself is crucial. They suggest that it’s more important than having lots of friends or being skilled at something. If you can push through tough times and figure things out, you can be successful. They also say that sometimes people who didn’t have much status do well because they were motivated and believed in themselves. But, if you have too much status, you might forget what life is really like for most people.
Conclusion
The MILES Framework is a comprehensive model for identifying and leveraging your unfair advantages in any field. By understanding your motivations, personality, and mindset, you can develop the strengths that set you apart and achieve success.
The framework encourages cultivating a balanced mindset that acknowledges limitations and possibilities and emphasizes the importance of continuous learning and skill development in life and work.
Whether leveraging your location or financial resources, cultivating curiosity and creativity, or developing social and emotional intelligence, the MILES Framework offers a powerful tool to help you achieve your goals.
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