The advice that changed my life!

warikoo

21 Sept 202119:04

Summary

TLDRIn this video, the speaker shares a life-changing piece of advice given by their first manager after completing an MBA. Initially struggling with accounting, the speaker recounts a project experience that highlighted their mistakes and lack of understanding. Their manager emphasized that trust is more important than intelligence or hard work, and without trust, everything else is wasted. The key message is about building trust through accountability and delivering error-free work. The speaker urges viewers to reflect on how trust is foundational to both professional and personal success.

Takeaways

💼 Trust is the foundation of success in both personal and professional life.
📊 The speaker struggled with accounting during their MBA, finding it irrelevant at the time.
🏢 The speaker's first job after MBA involved creating a financial model for a real estate project in Dubai.
📉 Initially, the speaker made many mistakes due to a lack of accounting knowledge but learned on the job.
🤝 The speaker's manager emphasized the importance of trustworthiness in work, stating that mistakes can erode trust.
🔄 Trust isn't built through competence alone, but through consistent accuracy and accountability in work.
💬 Trust is essential not only in work but in relationships, as it's what holds any partnership or team together.
💡 Trust in oneself is also critical – believing that mistakes will be corrected over time and learning will happen.
🧠 The speaker learned that facing difficulties and making corrections builds trust more effectively than performing easy tasks.
📅 Consistently delivering on promises without having to be reminded is key to maintaining trust in both life and work.

Q & A

What life-changing advice did the speaker's first manager give them?
-The speaker's first manager advised them that trust is the foundation of success, both in a professional career and in life. Without trust, no matter how smart or hardworking you are, everything else becomes meaningless.
Why did the speaker initially dislike accounting?
-The speaker disliked accounting because they couldn't understand its purpose. They found it confusing and felt it had no relevance to their career, as they had never worked with accounting before.
What project did the speaker work on after joining a consulting firm?
-The speaker's first project at the consulting firm was for a real estate client in Dubai. The project involved developing a financial model for an international expansion of a luxury residential real estate project.
What challenges did the speaker face while working on the financial model?
-The speaker faced challenges because the project required skills in accounting, including creating income statements, balance sheets, and other financial details, which the speaker was not familiar with and had to learn on the job.
How did the speaker’s manager react to their work mistakes?
-The speaker’s manager pointed out their mistakes during project reviews and told them that if mistakes kept happening, the manager would lose trust in the speaker's work. This made the speaker realize the importance of delivering error-free work.
What was the key lesson the speaker learned from their manager?
-The key lesson was that trust is the most important element in any relationship, whether personal or professional. If someone cannot trust your work, all your efforts become worthless.
How does the speaker relate trust to money?
-The speaker explains that trust is the foundation of money, as currency only has value because people trust that it does. Without trust, the value of money, just like any relationship, would collapse.
How did the speaker apply their manager’s advice to their work?
-The speaker decided to build trust by consistently delivering error-free work and making sure their actions were reliable, so their colleagues and managers could trust them without hesitation.
What is the importance of fulfilling promises, according to the speaker?
-The speaker emphasizes that fulfilling promises builds trust. If you fail to meet your commitments, it damages trust, even if you are hardworking or smart. Reliability is key to maintaining trust in relationships.
What three mechanisms does the speaker suggest for generating trust in life?
-The three mechanisms for generating trust are: 1) Be fully accountable for your own work, 2) Take responsibility during difficult times, and 3) Always deliver on your promises by the time you commit.

Outlines

00:00

💡 Life-Changing Advice from My First Manager

The narrator recalls a piece of advice from their first manager that changed their life. They emphasize the significance of sharing this story with others and hope viewers will spread the message. Despite hating accounting during their MBA, the narrator was forced to confront it during their first consulting project with a real estate client in Dubai. The project involved building a financial model for a luxury residential development, which required skills like income statements and balance sheets—areas the narrator was not comfortable with.

05:04

⚖️ Struggling with Mistakes at Work

The narrator describes their initial struggle with accounting tasks while working on the real estate project. They repeatedly made mistakes, and their manager had to point them out. Over time, the manager grew frustrated, explaining that if they couldn’t trust the work, they couldn’t rely on the narrator for future tasks. This feedback hit hard, as the narrator realized that no matter how smart or hardworking they were, trust was the foundation of everything.

10:10

🔑 Building Trust in Tough Times

Trust is the central theme in this paragraph. The narrator explains how trust isn’t built when things are easy; it’s forged during difficult situations. Whether in relationships, work, or other areas of life, showing up for others when it’s challenging is what generates trust. The narrator shares a story about a sculptor who worked tirelessly to create his masterpiece, despite setbacks, drawing a parallel to the importance of perseverance in trust-building.

15:15

🤝 Keeping Promises and Accountability

The narrator concludes by discussing the importance of keeping promises and being accountable for one's work. If someone has to ask whether a task is done, it means trust has already been broken. The narrator reflects on their own journey, realizing that being accountable is key to building lasting trust in all areas of life. They share practical advice for viewers on how to build trust by being reliable, responsible, and always following through on promises.

Mindmap

Keywords

💡Trust

Trust is a central theme of the video, emphasizing the importance of reliability in personal and professional relationships. The speaker highlights how trust builds the foundation of success, both in one's career and in life. Trust is portrayed as something that is earned through consistent, mistake-free work, and it is essential for building lasting connections with colleagues and managers.

💡Mistakes

Mistakes are discussed as a natural part of learning, especially when taking on new challenges. The speaker talks about how his manager helped him recognize and correct his mistakes, and how acknowledging errors is key to improving over time. The message is that while mistakes can happen, it’s crucial to address them and learn from them to earn trust.

💡Accountability

Accountability refers to taking responsibility for one's own work and actions. The speaker emphasizes that being accountable means delivering on promises and ensuring that the work is done with precision. This concept is closely tied to trust, as accountability ensures others can rely on you without needing to check or correct your work.

💡Career advice

The speaker reflects on the life-changing advice given by his first manager. This advice, which revolved around trust and accountability, shaped his approach to work and relationships. The advice applies not only to professional life but to personal growth as well, stressing the long-term impact of thoughtful guidance in one's career.

💡Learning on the job

Learning on the job is another key concept, where the speaker explains how he had to quickly master financial models and accounting concepts for a real estate project, despite his lack of prior knowledge. The message here is that professional growth often happens through hands-on experience, even in areas where one might initially struggle.

💡Manager's role

The role of the manager is portrayed as pivotal in helping the speaker recognize his mistakes and guiding him through his professional development. The manager doesn’t just point out errors but uses them as learning opportunities, pushing the speaker to meet higher standards. This shows how good leadership can foster growth and build confidence in employees.

💡Trust-building

Trust-building is a recurring concept, explained as something that happens over time through consistent effort and accountability. The speaker discusses how it’s not enough to work hard or be smart—if others can't trust the accuracy of your work, the value of those qualities diminishes. Trust is built when people can rely on your output without constant supervision.

💡Professional growth

Professional growth is a key takeaway, illustrated by the speaker’s journey from not understanding accounting to mastering it through hard work and guidance from his manager. This growth is depicted as a continuous process of learning, adapting, and building trust in oneself and others.

💡Work-life lessons

The speaker ties together work and life lessons, suggesting that the principles of trust, accountability, and learning from mistakes apply not only in professional settings but also in personal relationships. The story suggests that values learned at work can have a profound effect on one’s overall approach to life.

💡Challenges

Challenges are presented as opportunities for growth. The speaker describes how facing the daunting task of building a financial model, despite his aversion to accounting, pushed him to learn and improve. The message is that challenges can help reveal strengths and areas for development, making them crucial for both personal and professional advancement.

Highlights

The speaker shares advice from their first manager that changed their life.

The importance of trust in professional and personal life is emphasized.

The speaker discusses their struggle with accounting during their MBA.

They describe how they disliked accounting and never imagined needing it.

In their first job, they were tasked with a financial model for a real estate project.

The project required the creation of an income statement and balance sheet, which the speaker found challenging.

The speaker recounts long nights learning accounting on the job.

Mistakes were made, but the speaker persevered and kept improving.

Their manager gave feedback, focusing on how trust in work is crucial.

The manager emphasized that consistent mistakes undermine trust, regardless of hard work or intelligence.

Trust is the foundation of all human relationships, both professional and personal.

The analogy of money and trust: currency only works because people trust its value.

The speaker realized the value of creating a trustworthy work reputation.

Building trust requires accountability and delivering on promises without being asked.

The speaker shares a story about a sculptor who destroyed their artwork due to a small mistake, highlighting the importance of perfection and responsibility.