Freedom!

This post is not about how to recover from a crashed disk. It’s about how not to let a disk crash affect you in the first place…

A few weeks ago, the hard disk of my home computer crashed. Just like that. It wouldn’t turn back on. I ran some diagnostics using a recovery drive to check if there was any chance of salvaging it (the hardware, not the data), but there wasn’t. So I unplugged it, ordered another one, and went about my business on another device.

When the new drive arrived a few days later, it took me less than 30 minutes to have it up and running with every thing I needed. No data files to transfer. No settings to copy down or migrate. No nothing.

This was the goal when I began moving to a device-independent setup a few years ago. Piece by piece, I had successfully moved every thing I ever do on a computer to the cloud, so that if the day came when my hard disk crashed, I would not be affected.

And, it was satisfying to see that it worked! Today, all the mobile and computing devices I use (at home or at work) are irrelevant when it comes to the data they work with. It’s all online. Synced in real time. No fuss. No muss.

Here’s what works for me…

Laptops/PCs:

  • Google Calendar – To manage multiple calendars online; Synced across devices
  • Google Apps / GMail – For my work/personal emails; Synced across devices
  • Google Drive – For all my work documents; Synced across devices
  • iDrive – Backup & Sync for all my personal documents- I use a complex profile for each computing device (excluding phones)
  • Evernote – For long notes; Synced across devices
  • SimpleNote – For short notes; Synced across devices
  • Google Photos – To backup any photos I shoot to my Google account
  • Pocket (Chrome Extension) – To save any bookmarks I want to read/retrieve later
  • ToDoist (Chrome Extension) – To save any To Do items (with/without reminders)

Mobile Devices:

  • An Android device serves as my primary mobile phone
  • All my Contacts are saved on a Google account – nothing on the phone
  • SMS Backup & Restore – To periodically save any SMS messages (say, when migrating from one phone to another)
  • Google Photos – To auto backup any photos shot on my mobile device
  • Apps for SimpleNote, Evernote, ToDoist, Pocket and Drive, as above

(I also use an Android tablet sometimes, which follows all of the above)

Second Level Backups:

  • All documents & pictures from any computers I use are also backed up – once a year – to two external (portable) hard disks… This goes in a folder with the name YYYY
  • I keep one of the two external disks in a remote location as an offsite backup, just in case

That’s it, really! This simple setup now enables me to work from anywhere, with instant access to all my data, as long as I have an Internet connection. Plus, if one device fails, I can literally switch over to another in minutes, without any loss of data.

 

Mumbai-Pune Puncture Scam

If you live in any of the major cities of India, and own a vehicle, you’re more than likely to have heard of many popular cons that happen in and around the city to unsuspecting motorists. Typically, they involve someone flagging your running vehicle down, and pointing out a problem you need to get fixed. Then, another helpful someone shows up out of the blue, and attempts to “fix” the problem, eventually making it worse, and making you shell out thousands before you can be on your way again. One variant of this also includes throwing out sharp nails on your road stretch, causing some punctures, and then going about fixing them.

Since I was aware of many of these, I thought that I would be insulated from such scams. But, I was wrong.

On a recent trip with the family to Pune, just as we entered the Pune city limits on the Mumbai-Pune expressway (near Hinjewadi), a man on a bike signalled that I should get my front-left tyre checked… and rode away without stopping.

Since he didn’t stop to “help” me, I took his warning as genuine, and soon stopped the car by the kerb. The tyre pressure in my tubeless tyre did look a little lower than normal, so I thought I should get it checked as soon as possible. As it turns out, close to where I’d stopped was a roadside tyre repair shack, so I headed there and asked him to check it.

Again, note that there was no way for me to link the biker who rode away without glancing back, and the tyre shack who was supposedly minding his own business when I drove upto him.

Anyway, he jacked up the wheel and starting checking the tyre in question with some soapy liquid for air bubbles. I did ask why they use soap (which would froth and bubble on its own) instead of plain water, but he said they help him spot the puncture leaks better. I wasn’t too worried since I was keeping a sharp eye out for what was a real air bubble from inside the tyre, and what was on the surface.

During the conversation, repeating the process through the entire surface of the tyre, the good man found (and showed me proof of!) 8 different puncture leaks – big and small. The physics seemed sound: Unless the leaks are fixed, they would keep increasing in size. Plus, I was travelling with kids and the trip hadn’t even begin yet. Plus, I was 200 kms from my home city (and trusted garage). So, all things considered, I asked him to go ahead and fix all of them at 150 bucks a pop.

All the way home, I couldn’t shake the feeling that something was amiss. So, when I returned, I went to have a word with my local garage, who I have known for years and has yet to cheat me in any way. Here’s what he told me…

This is a very common scam on the Mumbai-Pune expressway. In all likelihood, while the chap at the tyre shack was “checking” for a puncture, as soon as I glanced away, he probably used his poker to make more tiny holes which later he could prove as punctures, so that he could charge me for each fix. Checking for punctures in tubeless tyres should be done by dismounting the wheel, putting it in a bath of liquid and filling it with high pressure.

Not only did I get conned for a thousand bucks, but I also ended up damaging a good tyre for the long run.

Shockingly, I came home to look this up on the Net and could hardly find any stories of similar experiences. Hence, this post to warn other unsuspecting motorists of what to watch for. If enough of us are armed with the correct information, it will be difficult for the scamsters to do their thing, don’t you think?

Hopefully, this should save you from ruining another good tyre and a few thousand bucks…

 

Startup DNA

What does the DNA of a startup look like? While almost every startup believes that it is building something entirely unique, there are some defining characteristics that dramatically increase the probability of startup success.

Shane Snow – the Chief Creative Officer of Contently – lists some excellent points in his post. Here are a few of my favorites…

  • Rather Than Planning, Doing
  • Looking For 80/20s
  • Split Testing And Iterating

Bias for Action has got to feature among the top of any list you see on this subject, since a startup is essentially about getting started with the idea, and not just making elaborate plans on paper (or on a spreadsheet!).

If you are planning to launch a startup soon, be wary of collaborations with key stakeholders (partners, vendors or even senior staff) that do not exhibit this trait. You will regret it if you don’t, and waste precious time in the bargain.

Pareto’s Principle of 80/20 will definitely apply to your ToDo list, once you start your journey on the road to entrepreneurship.

Yes, the list of things to do will be long, and every item on it will seem important. But, every entrepreneur has limited resources and limited time at his/her disposal. And, in the end, what will matter is that you did the things that mattered most – and ignored the ones that didn’t.

Finally, Testing and Iteration will get you further than most, and also ensure that you get bang for the buck.

Should you advertise on Facebook or Google? Should you use subject line A or B in your introductory email? Should you go with logo option 1 or 2? Very often, we don’t know what will work in a particular context, but can ascertain our course of action based on data, as long as we are willing to learn from the experiment, and iterate as needed.

If budget is a constraint – as it often is – you need to run carefully though-through experiments to see what works better. Discard what doesn’t, and scale up what works by putting more resources behind it. If budgets are generous, run even more experiments!

May the force be with you.

Making Relationships Work

Ever so often, we ask from a relationship, before we give to it. Sometimes, it may be from a family member of friend. At other times, it may be from a work colleague or an acquaintance on LinkedIn.

Ivan Misner’s post on making relationships work makes you re-think…

In my career, a huge number of folks come to me and ask me to promote something for them. The thing is, the majority of those who contact me have never actually met me or had a previous conversation with me. They’ve never invested in the relationship, yet they want a withdrawal from it!

Before you ask for a withdrawal, make sure to make an investment, and build a deep referral relationship.

I couldn’t agree more. It’s not such an impossible ask to make a few deposits before we seek a withdrawal, be it at work or among pals.

Misner also includes a quick guide to questions that you should be able to answer with a “Yes” if you have a strong working relationship.

Useful stuff, don’t you think?

Financial Independence

“Financial Independence” means different things to different people. There may not be a universal definition for it, but it helps to understand the subject a little. I often mind myself debating these concepts with friends, and this post is my way of capturing some of my key learnings on the subject…

Tony Robbins captures the essence of Financial Independence in a five-point scale

#1. Financial security. This is achieved when you have sufficient passive income to cover the very basics in your life like the rent (mortgage), bills and basic food.

#2. Financial vitality. At this level of financial independence, your passive income can allow for more things like clothes, going out and having fun, and basic holidays.

#3. Financial independence. This is the level where your passive income is sufficient to allow you to have your current quality of life.

#4. Financial freedom. At this level of financial independence you can up-step your lifestyle to the one you desire.

#5. Absolute financial freedom. This is the level where money stops being an issue and you can do anything you want.

When I first encountered this, what struck me is that for Level One itself, Robbins speaks of a “passive” income that achieves these metrics. i.e. Income generated whether you show up to work or not. This may be via investments in real estate, securities or a business that you own – not one where you trade-off your time to earn money (as in a job!)

Now, if you are currently in debt and have little savings to show for your earning years, you may think that attaining even the first level with “passive” income is an impossible dream.

Why is that?

The Times of India featured an excellent article by Uma Shashikant on the (often mistaken) advice we give to our children when it comes to their future career, and financial goals. In it, Shashikant makes a very valid argument that “what is true of the parents’ world is not necessarily true of their children’s world.”

If you are an Indian, it is most likely that your well-wishers (parents included) brought you up on a steady diet of the age-old maxim: Buy a house!

Buying a house is not always “good advice”. It actually depends on a number of factors, including:

1. Your personal Life goals
2. Your current Life stage
3. The Rent vs Buy equation in your particular city / region

But, the social pressure to do it (for most Indians) is so much, that most do not take a step back and evaluate all the options more objectively.

The fact is, having a primary residence (owned by you) is not an “investment” for you – unless you’re willing to relocate to a far, far cheaper home/region at some point in your lifetime. If not, at best, it represents an asset for those you leave it behind for.

You may notice that I’m not even touching upon the possibility that the Real Estate market may represent a bargain, currently. That is irrelevant (or already factored into point #3 – Rent vs Buy), unless you are talking about a second home as an investment opportunity.

If you depend on a salary for income, it makes little difference if your current house – the one you live in – appreciates in “value” by several million. With increasing income, when we “upgrade” our lifestyle, it is often accompanied by moving to an even larger (read: more expensive) home with accompanying debt. And, that is precisely why you should think – ten times – before taking up a loan that you will need to service for decades to come.

In thousands of cities across the world (including in India), it is way cheaper to rent a house than to buy one – whichever way you crunch your worksheet. If you are not riddled with a huge debt at this early stage, and have the discipline to put away 15-20% of your (ever growing!) income in a sound Savings’ plan, you have a real shot at building a corpus.

Combine this insight with the Power of Compounding, and you may just be on your way to a significant “passive” income… And, that would be worth the reward, wouldn’t it?!