The advice that changed my life!

Summary

In 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.