Building The Framework Challenge - Week 3: Joe Rogan Edition
Guest Post
I’ve been busy, so I asked Joe Rogan (via ChatGPT) to guest write this week’s edition of Mastering Your Money. Enjoy!
Hey there, my fellow Frameworkers!
It's your boy, Joe Rogan, coming at you on this beautiful Monday. Can you believe how wild the last few weeks have been? It's been nuts. But you know what? We're still here, we're still kicking, and we're still learning.
Speaking of learning, let me tell you about something that happened to me last year. I was listening to this podcast with Guy Kawasaki, and he said something that really stuck with me. He said that if you've got a minimum viable product (MVP), you should ship it. Don't wait around trying to make it perfect, get it out there and see if there's a market.
“Man up and ship sh@t!” - Guy Kawasaki
I took Guy’s advice and rolled out the 1st Framework Challenge. And let me tell you, it was a blast. Over the last year, I've made some incredible friends through my writing cohort and fellow fans of the Rule Breaker Investing podcast. And this week, I leaned on those friends as several of them volunteered to take The Framework Challenge for a test drive.
And you know what? We learned a lot. I'm so grateful for each and every one of them. I built the Challenge because I believe there is power in applying knowledge in a community. And so far, my hypothesis has been proven right. This week, we took a simple framework, applied it to a stock, and shared our findings with each other.
First Thoughts
Now, I don't just talk the talk, I walk the walk. I participated in the Challenge too, so I could experience it as a user. And let me tell you, I had some major takeaways. 👇
Feedback from others:
I received a lot of positive feedback. Everyone who completed the survey said they grew as an investor, and they would take the challenge again. And they gave some excellent suggestions on ways to improve. 👇
What’s Next?
But you know me, I'm not content to rest on my laurels. I'm always looking to improve. So, over the next two weeks, I'll be focusing on two areas.
First, I'll take the feedback I received and do my best to implement some positive changes. I want to create a smoother user experience, encourage community interaction, and provide clear and quality resources.
And secondly, it's time to recruit. We're going to roll this out to a bigger audience. I want to get 25-30 participants for the next Challenge.
So, there you have it, Frameworkers. We're on a journey, and I'm excited to see where it takes us.
Two Takeaways for my Personal Framework
Management Incentives
Last week, we talked about Bill Mann's 4-part framework and how management incentives play a crucial role. As I was digging through the proxy statement for GXO, I found something interesting. Did you know that these statements spell out every little detail of executive compensation in a company? And in the case of GXO, management is incentivized to grow revenue, free cash flow, and EBITDA. Now, we can't judge the effectiveness of this program until we compare it with others, but it's definitely a valuable place for investors to look.
Cash Flow
Moving on to the topic of cash flow, I've come to realize that not all cash flow is created equal. It's a complex concept, but I'm learning as fast as I can to give it the importance it deserves in my framework. So, stay tuned, I'll keep you posted on my progress.
Lastly, I want to share my plan to improve the quality of resources I provide. That's where my focus will be over the next few weeks, and I'll start by building up the Investors' Library with a comprehensive edition on Free Cash Flow. So, keep an eye out for that and keep learning, folks!
Before I Go …
I can’t leave without sharing my favorite podcast from last week. Blast From The Radio Past by Rule Breaker Investing was fantastic. 👇
Hilariously informative! Thank you Joe, er, ChatGPT, er Jason. 😁