Craftsman Mindset, Slow Productivity, Psychology Of Money & More…
read time 5 minutes
We Cover
Trends: Craftsman Mindset & Slow Productivity
My Takeaway from Psychology Of Money by Morgan Housel
Weekly Musing: Learning from The Week
Finance Demystified: Should you invest in FDs by NBFC?
Podcast: Understanding India’s Foreign Policy
My Weekly Explorations…👀
The Craftsman Mindset ✂️
I often get questions from folks early in their career on how to find a role that matches their passion.
What do I tell them? They are thinking it all wrong.
They won’t be able to find something that they like to do instantly, it’s more about pushing to do the work each day and becoming good. And as one does, they will fall in love with their job.
This is the essence of what is called the Craftsman Mindset. It’s a philosophy centred on honing one's skills and focusing on what one can offer the world, rather than fixating on what the world can offer.
It’s about embracing a commitment to deliberate practice and continuous improvement, with the belief that mastery and success follow dedication to the craft.
Here’s a breakdown of what this mindset involves:
Focus on Skill: The core of the craftsman mindset is the relentless pursuit of skill. It’s not about passion or waiting for inspiration; it’s about putting in the work, day in and day out.
Value Creation: Instead of asking, "What can this job do for me?" The Craftsman Mindset prompts one to ask, "What can I do for this job?" By concentrating on value creation, it shifts the focus from external rewards to intrinsic fulfilment.
Long-Term Commitment: A long-term commitment is essential to mastering any craft. It’s about patience and persistence.
Focus, practice, and commit to the process. That’s the only true way to become a craftsman.
If you're just starting out, adopting this mindset will enable you to grow exponentially.
So, are you honing your craft with dedication?
Slow Productivity 🖥️
I often feel overwhelmed, especially when working across projects. It becomes hard to differentiate work that actually moves the needle from the fluff work.
And the innate constant push to get more done does not help at all.
Shared the above with a friend, and this is the idea he suggested. Sharing my learnings from the exploration.
Slow Productivity is about 3 things:
Embracing a more deliberate pace in work
Focusing on what truly matters
Reducing stress
A simple way to start practising Slow Productivity is the Prioritise-Pace-Reflect framework.
1. Prioritise: Begin by identifying the most important tasks or projects that will have the biggest impact. Instead of spreading thin across many tasks, focus on a few key areas.
2. Pace: Set a realistic pace for work. It’s important to take time and space to think deeply and work thoroughly on priorities. Slow down, and allow yourself to do your best work.
3. Reflect: At the end of the week, reflect. Asking oneself, "Did I focus on what truly mattered? Did I work at a pace that allowed for quality?" is extremely important. The reflection helps to stay aligned with the principles of Slow Productivity and make adjustments as needed.
And that’s it. A simple framework although both you & I will need to make conscious efforts for this to work. But hopefully, it will help us work more intentionally and effectively, without the burnout that often comes from chasing productivity at all costs. Maybe, I will share how this works out for me :)
Psychology Of Money by Morgan Housel
Similar to content frameworks, some books are evergreen, and this is one of them. We all work, whether as an employee, owner, or government servant, to earn money at the end of the day.
However, 90% of learning about money isn't technical jargon that we avoid, but habits we need to consciously develop to earn, manage, and grow our money. This book repeatedly emphasises the importance of developing such mindful habits.
Each time I pick it up, I learn something new. This time, it was the importance of long-term thinking and having patience. Building wealth requires consistent, disciplined saving and investing over time, much like our careers. As professionals, we compound slowly and gradually each day. Therefore, try to make strategic decisions that align with long-term goals rather than seeking quick wins.
P.S. This should become part of all school curriculums.
Weekly Musings
A small reflection from the week would be..
“One doesn't need more intensity; one needs more consistency. Intensity impresses; consistency transforms.”
Finance Demystified
(An attempt to break & simplify one finance concept)
Should You Invest in Fixed Deposits (FDs) Offered by NBFCs?
Fixed Deposit (FD) rates offered by Non-Banking Financial Companies (NBFCs) are often higher than those offered by banks.
As an example, the rates offered by Muthoot Finance is often high as compared to traditional banks.
However, higher returns can also mean higher risks, so it’s not advisable to invest in just any NBFC's FD.
That's why you should consider FDs only from reputable NBFCs only.
Podcast: Understanding India’s Foreign Policy
In this episode of our podcast, we had the privilege of hosting Vikas Swarup, the distinguished former diplomat of India and acclaimed author of the novel Q&A, which inspired the Oscar-winning film Slumdog Millionaire. Vikas Swarup shares his remarkable journey through the world of diplomacy, offering insights into his experiences representing India on the global stage.
That’s a wrap for this this week.
Also, if you know someone who might like this newsletter, forward this to them.
Please write to shashank@salaried.club if there’s anything you’d like to share with us.
See you next week :)
Regards,
Shashank Srivastava