Why generalists prosper in the current age

Hi friends! I just came back to Europe after 3 weeks in Japan. Rewarded myself with a very much needed rest (my HRV jumped from 66 to 80 yaay). However, we are back on the grind, therefore another edition of Founders’ Fuel was much needed.

The 5 Buckets Principle

There are 5 essential areas every startup founder/entrepreneur should possess. Knowledge, Skills, Network, Resources, and Reputation.

1. What you know (knowledge): This bucket shapes the foundation of your career and entrepreneurial path. We usually start our journeys here (school, university, etc.), but we tend to steer away from this course later on.

2. What you can do (skills): The second bucket is your knowledge applied. Applying your knowledge transforms it into skill, a resource infinitely more valuable because it has proven its worth in the real world.

3. Who you know (network): Your professional value increases when you have knowledge and skills. And as you deliver value to others, your network will start to grow. The third bucket is filled by the connections you cultivate as a consequence of your knowledge and skills, which can open doors to new opportunities.

4. What you have (Resources): Consequently, when you have knowledge, skills, and a network, your access to resources expands. What you gain, be it financial, material, or technological, can be sustained with a solid foundation built by first filling the first three buckets.

5. What they think of you (Reputation): Lastly, as you navigate your path by filling each bucket in the right order of priority, you will undoubtedly earn a reputation. How others see you will depend largely on how you navigate your journey and the decisions you make.

Fill the buckets in the right order. Each bucket is pivotal, with the filling of one often aiding the growth of the next one, creating a synergistic effect crucial for long-term success. You should always start investing in the first bucket then when it’s full and overflows you move onto the next one.

This might come of as a bit of a weird request. Why should I only focus on knowledge and skills only? Surely, doing networking helps me out. Well, yes and no.

For entrepreneurs, the challenges and risks are high, and professional earthquakes can come from anywhere at any time. Everyone hits rock bottom from time to time.

With the pace of progress these days, it is not uncommon you become a part of layoffs. Your company may even go under because of many reasons beyond your control.

When this happens, external circumstances can take away your resources, your network, or even impact your reputation, but they can never take away your knowledge or make you unlearn the skills you've already gained and developed. Knowledge and Skills. These first two buckets are the most important for you to top out all the way, without any shortcuts.

You are not starting from scratch anymore. You are starting with all the information you gained along the last journey that might have led to a failure.

For some, it may seem counterintuitive, especially in a fast-paced business environment. But continuously investing in yourself by expanding your knowledge and skills is the founding block of success. 

Skill Stacking

In a previous edition of Founders’ Fuel I briefly touched on effective skills for being a successful entrepreneur.

The tough reality is that you’re unlikely to be the best in the world at a single skill. You probably won’t be the top programmer, marketer, or product lead. Your first reaction might be, "How can you know? You don’t even know me," or "How outrageous!". Yes, it might sting, and yes, I might be wrong. However, with Earth’s population being over 8 billion, the odds are stacked against you.

The world has been pushing us to focus on a single career path. Finish your computer science degree, get a job as a software developer, gain experience, learn more technologies, and code, code, code. This approach leads everyone to become specialists in their respective fields. The stigma is that being an expert in your core area will make you more successful.

Yet, if you look at the most successful people from the past two generations, almost none of them were specialists. They all were generalists, combining multiple skills into their skillset. Elon Musk, Mark Zuckerberg, Cristiano Ronaldo, Jensen Huang, Richard Branson, Kylie Jenner, and even someone like Jake Paul excels at more than one skill.

All these people utilise the concept of skill stacking. Rather than focusing on being in the top 1% in one specific skill, they get in the top 10% in multiple, complementary skills.

Let me run some numbers by you. Being in the top 10% at six different skills makes you the best person at that exact skill stack in a city with a population of 1 million people. If you were in the top 10% in all of 10 different skills, it would make you the best person at that exact skill stack in the entire world.

Yes, you read that right. Top 10%, 10 skills, the most qualified person in the entire world.

A great example is Cristiano Ronaldo. He’s not just particularly good at any single attacking skill; he has a variety of skill stacks that make him one of the best football players in the world. Ronaldo's skill stack includes speed, agility, strength, tactical awareness, shooting accuracy, and heading ability. This combination of being very good (but not necessarily the best) at multiple skills makes him exceptional overall. This diversified skill set allows him to adapt to different situations on the field, making him a more versatile and effective player.

Another example is boxer named Vasiliy Lomachenko, known as "The Matrix" for his unique fighting style. Lomachenko is one of the most successful amateur boxers of all time, holding a record of 396 wins and 1 loss (after that he turned pro and holds a record of 18 wins out of 21 matches. His success is partly due to his skill stacks, which includes not only boxing techniques but also footwork and coordination honed from years of traditional Ukrainian dance as a child. His diverse skills make him one of the most formidable boxers in the world.

By focusing on building a diverse skill stack, you can leverage your strengths in multiple areas, making you more adaptable, innovative, and ultimately more successful.

If you already have a vision of what you want to do with your life, great! Try to identify the next skill that would be beneficial to your vision. I’ll use myself as an example. I am building two startups at the moment, one being a consumer subscription business. After hearing about skill stacking at a Steven Bartlett talk, I started thinking about what skills I needed to better my product. The first one that came to mind was understanding customer psychology to influence them effectively. I bought the first book on human psychology I could find (which turned out to be a gem - Surrounded by Idiots by Thomas Erikson) and started learning about human psychology.

Next time you’re in a bookstore or library, try stepping outside your comfort zone. Instead of picking up yet another self-development book (yes, I know you’ve read more than 20 of them already), choose something you know nothing about and dive into the subject. This also applies to Youtube videos, masterclasses, Ted Talks, and many other hobbies.

You can either build a skill stack tailored to the industry you want to pursue, or find an industry that already fits your existing skills. The choice is yours.

Having Complementary Skillsets

Having rare and complementary skillset sets you apart from others and provides unique value that’s hard to replicate. When you combine these skills, you create a unique skill stack that is highly sought after in the market. This not only makes you more competitive but also opens up opportunities that might not be accessible to specialists.

For example, if you are a software developer with a deep understanding of psychology, you can design products that are not only technically sound but also incredibly user-friendly and engaging. If you are a marketer with financial acumen, you can craft campaigns that not only attract customers but also align perfectly with the company's financial goals. The possibilities are endless when you combine the right skills.

This principle also applies to founding teams. Complementary co-founders, who possess opposite but complementary skills, statistically have the best chance of success.

Think of it as a Venn diagram where each founder’s skills overlap but also extend into areas where the other might not be as strong. This creates a well-rounded team capable of tackling a wide range of challenges. For instance, one co-founder might excel in technical development while the other excels in business strategy and operations. Together, they cover more ground and can drive the business forward more effectively.

The same concept applies to personal relationships. Couples who have complementary skills and traits tend to balance each other out and have a more harmonious relationship. Each person brings something unique to the table, supporting and enhancing the other’s strengths while mitigating weaknesses. This dynamic not only fosters personal growth but also builds a stronger, more resilient partnership.

In a world where being a specialist has been the gold standard, it's time to rethink the path to success. Skill stacking—a strategic blend of diverse skills—can be your secret weapon. Imagine leveraging not just one, but multiple strengths to stand out in your field. This isn't about becoming the best at one thing; it's about being highly competent in several areas to create a unique and powerful skillset.

I’d love to hear from you:

• Have you noticed how combining different skills has given you or someone you know a unique edge in your field?

• What new skill would you consider adding to your stack to boost your career?

Thanks for reading,
Oliver.