Episode 045 - Pump the Brakes!

Business Broken to Smokin' Podcast

In this episode of the Business Broken to Smokin’ Podcast: Mark and Shane talk about a new tool Mark developed called “Pump the Brakes” - a hack to balance out making decisions with your gut and also with thinking!

Download the tool here: https://lodestonetruenorth.com/podcast-episode-045-pump-the-brakes/

0:00 Intro

4:20 A lot of visionaries are driven by ideas and they often have a sensory operating system.

5:50 How to approach this exercise

• Pressure test the idea
• Balance emotion with reality
• Forced objectivity
• Turn over big rocks and see what’s underneath
• Help prevent ugly girlfriend syndrome
• Hopium antidote
• Take a personal retreat and journal all the answers
• Helps to get your thoughts in order
• Take a significant chunk of time to do this exercise, maybe half a day out of the office
• Landing spot for this work could be in your journal

12:21 Step 1 - Park a date in your calendar then go do it

12:29 Step 2 - Take a sheet of paper or your journal and park your idea right in the center. Try to write it out in 10 words or less.

14:09 Reference to the Incompleteness Theorems by Kurt Gödel https://plato.stanford.edu/entries/goedel-incompleteness/

14:56 Questions to start to answer (not in any order):

• What are the essential operating principles? (Rabid to written)
• Can you paint a picture of failure?
• Can you paint a picture of success?
• What are your guiding principles? Reference to Ray Dalio’s book Principles
• What are you trying solve?
• What are some other options?
• What is the harm in not doing it?
• What is at stake?
• What are the essential elements?
• (Ref to the Far Side cartoon What the?)
• What are some of the missing resources?
• What will have to change to do this?
• List your trusted advisors and their opinions about this idea
• Legal
• Financial
• Asset management
• Coach
• Describe the pressing need to do this

36:36 Book reference - American Icon: Alan Mulally and the Fight to Save Ford Motor Company by Bryce G. Hoffman

41:19 Movie reference Tall Tale https://www.imdb.com/title/tt0111359/

** Credits**

Music - What was I thinking by Dierks Bentley

Website: https://www.lodestonetruenorth.com
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LinkedIn Book Club Group: https://www.linkedin.com/groups/14158790/

LinkedIn Mark: https://www.linkedin.com/in/mark-whitmore-lodestone/
LinkedIn Lodestone: https://www.linkedin.com/company/lodestone-true-north
Lodestone Online Courses: https://lodestone.thinkific.com

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