At a logical break from a task which requires focus, I switch to answering mails and chats. One thing that I find difficult to respond to is a series of messages from different people just saying “Hi” or “Hello” or some other one liners which checks ‘how you doing’? People will let me know why are they pinging only when I respond back with a “Hi”.
People are so used to whatsapp communication in personal lives which happens almost instantaneous especially from a section of people who like to be always on. For people engaged in knowledge work, it is extremely hard to have a full duplex communication. The messaging apps have to be considered async first. This means, say what you want to, just like how you write a letter by post to the person expecting long turn around times.
For a remote friendly workplace, first rule that makes it work is async communication. For that to be effective message exchanges have to be rightly sized so that a receiver can read and respond at one go instead of trying to resume the thread once someone becomes available. People should not be available by default for synchronous communication unless they accept a meeting request.
If you have not been an async receiver or a sender, try this for a while – resist the temptation to answer to emails and instant messages immediately as they arrive, best is to turn off notifications for all messengers or any other application. If you receive a ‘Hi’ only message, respond to it in your next window, but resist the temptation to reply synchronously unless you are available.
I complete 20 years as a working professional this month, this is a rear view look. Times change and what applied to me may no longer be applicable now but felt it as a good exercise to look back and pen down the themes. 20s is the age that you feel you are invincible and have a seemingly long future outlook, that gives us a feeling that the 20s will last forever. This makes us subconsciously go for things that only cater to the present but create a harder one for the future self.To give an idea about how times change, let us see cost of living – gold was 10 times cheaper 20 years ago, which means buying a 100cc bike like Hero Splendour was an achievement, it retailed at 48,000 rupees. A salary of 4,000 was adequate for me to start my career.
Luck is a factor on how big we can make it. I ended with a good job only because I went to meet a friend whom I hadn’t met for a long time and he had arrived at my town for an interview, I went along with him. Walk in interviews had 1,000+ people waiting outside the gate at 7 AM to be let in for a 9 AM interview. That is how bad the outlook was for the first job if not placed through campus placements, it was extremely hard. The interviewers do not have the time to sift through so many profiles and find us, irrespective how well prepared we are or how skilled we are. How to increase the luck? The only way to increase is through serendipity – showing up more at places, connecting with a lot of people, have varied interests. Once our foot is in the door, only then the skills get applicable. Throughout the career, this keeps repeating for me.
Once I got the job, I felt that going all out on tech skills will be my forte. I used to take pride that people see me as a wizard who gets a lot of things done. Within a few years I had hit a plateau of what I can accomplish individually. I was putting in more and more effort without moving the needle on the performance indicators. I fell sick often in the pursuit and it caused more setbacks. It is when one of my mentors pointed out on how to become a multiplier instead of being a standalone maker. I had to rewire my ways of working and learn what puts me up in the next level. One of them was communication skills which was a bottomless pit to get skilled on – presentation, interpersonal, spoken and written english, non verbal, feedback on and on. The rule was simple, if I am on a team, the entire team’s productivity should go up.
The invincible 20s mindset, makes us feel that we can go at break neck speed, consume anything, don’t rest and yet still manage to survive. All the years of neglect suddenly manifests one day as a bolt from the truth. A major problem I had is that I did not eat and sleep well in my early days of career. After a point it was a constant repeat of medicines, physiotherapy and poor health until I figured out nutrition and exercise. A sound body creates a sound mind.
The more later you learn skills like driving, language, music, cooking the more difficult it becomes due to the time commitment needed get to a basic level. As we move up the life ladder and start a family, time flies and hard to set aside any time for learning new things that require commitment. Cross discipline learning is very important along with life skills, learning never stops but it becomes easy when you start early. Often times you will hit a plateau in the career, it requires a change in the way in which we work and learn that needs extra effort. Example moving from an individual contributor to lead, a lead to an expert, an expert to an org leader etc. Before making the jump enjoy the plateau for a while but don’t settle there.
When speaking about time, the best investments I have made are the ones that help me save time. Fully automatic washing machine/dryer combo, electric cookware where you can program and set timers are to name a few. I made the mistake of buying status symbols first before coming to terms to reality. The amount of time that gets saved by delegating away is huge.
About savings, I was poor like everyone else with savings. I thought property is the biggest savings and went all in as one stop investment. What it made me was to be afraid to try new things so that I won’t lose the steady stream of income. Living paycheck to paycheck is a very difficult situation and makes you put up with toxic workplaces or makes you risk averse. I did not try my hand on starting a business on my own because of the huge loan bills I had to pay every month. Best form of savings/investments are something that you can pause or redeem when needed, not locked up in real estate through a loan. Car and bikes are a spend not an investment.
Recap – Luck plays a major role in what we are today; being a team player matters; communications skills can never be enough; body and mind keeps score, take good care of it; invest on things that saves time; learn as much as possible early in the career including life skills; understand financial resilience and actively pursue it.
As we had seen, passive savings and narrow investment portfolios may be very efficient but they do not build resilience. Being financially resilient is hard work, maintaining the socio-economic status after unforeseen events is the key factor.
As a salaried person, understand and tune the skills to the market that will keep us employed for a long time. Each economy is different and is dynamic, mindless savings to aim for early retirement will put a strain on mental and physical well being. Once we do not work, the cash flow stops and we would not realise how fast the reserves deplete. Aim for resilience, sustainable lifestyle than early retirement. More here
Cheap loans are everywhere, which will tie you to hefty monthly repayments. Any thing that demands a huge monthly outflow puts a dent in the resilience. Try saving up, if possible fund big purchases like car and homes with as less loans (or lesser tenures) as possible. More here
Resist the temptation to succumb to marketing. Think like a Finance officer, not as a Marketing Executive who has a budget to spend on improving brand recognition. It is your money to be invested at your discretion for your future self, don’t be hard on your future self and end up disposing of what is in hand. More here
Risks are difficult to understand and mitigate. Tail risks are even harder to imagine and plan for. Unless someone diversifies their portfolio of savings and investments along with insurance, safety gears, high quality equipments, healthy habits etc, it is hard to mitigate. It is inefficient to be resilient, but resilience keeps you afloat in dire situations while efficiency drowns you. More here
Summing it all up, realise the concepts of resilience as early as possible. Nothing is too early to learn when it comes to finance. Try to pass on this knowledge to the young ones as soon as possible in a practical way so that they don’t have to learn the hard way. I realised this as an intern in a different town, who was sick in the middle of the month, no cash in bank, hefty credit card dues. Luckily came out of that mess, but learnt a very valuable lesson and changed how I look at finance forever.
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