It’s been one year since I started Stock Markets With KR, a finance podcast where I publish my insights, analysis and trades every working day of the week. The journey so far has been incredible.
Here are a few lessons that podcasting almost everyday taught me, market-related and otherwise. Be advised that as cheesy as all these might sound, they’re all lessons that I’ve personally learnt and believe are important enough to share.
Patience
Is key not just while trading/investing, but also when you start something new. As overused as this phrase is, you need to look down and work. Unless you are process-driven, don’t look at metrics. There have been times where my episodes have had less than three plays – one from my father and two from my friends. My show’s metrics still are nothing to write home about. But I still make it a point to publish. Quite possibly the biggest accomplishment so far as been seeing how I had next to no listeners to now having people follow my personal Instagram page because they found me on Spotify or Apple Podcasts or a similar platform.
Metrics are good, they can give you invaluable insight. But be careful because if you don’t approach them with the right attitude, they might only slow you down.
Discipline
Goes hand in hand with patience and consistency. Had I not been disciplined with my trades and with my podcast, I would not have grown as much as I have. Forming habits is important. It isn’t easy, but you better learn to suck it up and deal with it.
My parents and I had gone for a week-long breather vacation in November 2019. I still published my episodes. Noted everything down on paper, locked myself in the car and on I went.
Discipline equals freedom.
– Jocko Willink
Time management
Is something I had to develop and learn the hard way after nearly missing several deadlines. These days, I manage to fit in trading, CFA prep, podcast recording and working on my other projects while still being somewhat social.
Now, bear in mind that my schedule is not perfect by any means. I procrastinate, I am only human. But make sure that the time you dedicate to work is when you give it all you have. Digital Minimalism and Deep Work, both by Cal Newport, are books I was quite inspired by and have helped me become more productive.
Finding your voice
Is important. It doesn’t matter if you want to be a content creator or not. Social interactions are a form of content. All the conversations you’ve ever had and will ever have reflect on your IRL personal brand. Like it or not, this holds true even if you have zero social media accounts.
I have always been very shy and reserved, borderline social anxiety. I’ve made a lot of progress on this front and I’m starting to find “my voice”. Talking to people, especially new connections via LinkedIn, has now become one of my favorite “downtime” activities.
Massive execution
Is quite possibly the most important skill you can learn. Be swift and become a to-do list striking off machine. As I’ve found, most of the time it isn’t really procrastination that stops us, but the fact that we severely overestimate the time it takes to set something up. Whether it’s a basic site with webmail or a podcast. Look something up and execute. Do not waste a second.
There are tons of tools available online that will make literally anything you want to do easier. Many if not most are free. Use them!
Quality
Does not always come first. Not wasting a second includes not obsessing over quality initially. If you’re anything like me, you’re probably a perfectionist and care about the details yada, yada, yada. Toss that attitude out of the window when you first start something. You can only reach the next step when you take your feet off where you’re standing right now.
I recorded my episodes without a mic using nothing but my phone for nearly the entire past year. I only just invested in an entry-level microphone. Had I obsessed over perfecting the quality early on, I would not have reached ~270 episodes. Quality and perfection comes with time. I promise.
Flexibility
Needs to be ingrained in every fiber of your body. Find a balance between sticking to what works and not letting things stagnate. Take every piece of feedback that you receive as if it’s treasure because it is. Your critics will be one of the main drivers of perfection thanks to their nitpicking. It’s a good thing.
But make sure you think of it objectively. Emotions and feedback don’t go well together!
Play the cards you’re dealt
Is the only mindset that will realistically let you have a sound sleep at night regardless of what happens. There have been day’s where I’ve felt completely heartbroken after a series of losses, sometimes that’s perfectly coincided with receiving a hard-hitting negative feedback. Separate your emotions from your trades/investments. They’re a part of life. So are profits and praises. You can only play the cards you’re dealt. So you made a loss or blew an account.
Play the cards you’re dealt. Do you fold and start over? Do you raise? Or do you call? Your hand is in your hands only.
Be a part of the community
Because it will help you learn more than you can imagine. Every activity, niche or hobby has a group of enthusiasts that gather at a common place and have meaningful discussion. Find that place and join them.
There are several podcast communities online that I’m a part of. It helps me learn from my fellow-creators and if there’s any way I can add value to them, it’s a bonus! Most importantly, just be a part. You’ll learn the ins-and-outs of the scene very well and get to interact with some awesome people.
To conclude…
I originally intended this one to be a short and sweet LinkedIn post, but that has clearly not gone according to plan. These were a few lessons that come to mind. If I think of more, I will add to these.
While I have you, I request you to please create. Whether it’s video, audio, text, or any other medium. Just create. Documenting your journey has been romanticized a lot and I’m not a fan of that. But at the same time, it’s quite possibly the biggest favor you’ll do to yourself. Just trust me on this one.
And if you ever need any help, I’m always happy to help. Just shoot me a message on LinkedIn 😀