Build Personal Moats: Do Things, Tell People

Build Personal Moats: Do Things, Tell People

In today's competitive world, it is essential to create a personal moat, a set of unique and accumulating competitive advantages that sets you apart in your career. Your personal moat should be a competitive advantage specific to you that not only withstands the test of time but also compounds over time. So, how can you build your personal moat and ensure its longevity?

The first step is to identify something special about yourself that is easy for you to do but hard for others. It could be a skill, a talent, or a unique perspective that sets you apart. Ask others for their input and gather insights into what makes you stand out. This self-reflection and external feedback will help you uncover your personal moat.

Another concept that can guide you in building your personal moat is the Japanese concept of "Ikigai," which represents the intersection of what you love, what you're good at, and what the world needs. By finding this sweet spot, you can focus your efforts on something that aligns with your passions, utilizes your strengths, and provides value to others. This alignment will give your personal moat a strong foundation.

In the internet economy, specific knowledge and rare and valuable skills have become scarce resources. Therefore, one effective way to build your moat is to focus on acquiring such knowledge and skills. Look for opportunities to gain expertise in areas that are currently undervalued but have the potential to grow in the future. For example, investing in cryptocurrencies in 2016 may have seemed like a niche area, but it has since gained significant traction. By identifying emerging trends and becoming an expert in those fields, you can build a moat that is ahead of its time.

Additionally, leveraging exclusive relationships can be a powerful way to build your moat. Access to networks, partnerships, or clientele that others cannot easily replicate gives you a competitive edge. For example, having connections in the enterprise healthcare industry or access to limited partners can provide unique opportunities for growth and success. By nurturing and expanding these relationships, you can solidify your position and create a moat that others find difficult to breach.

Furthermore, consider exploring areas that are legibly impressive or valuable but lack a clear playbook. Take inspiration from individuals like Tyler Cowen, Tim Ferris, and Elad Gil, who have built their personal moats by venturing into uncharted territories. By embracing the unknown and thinking outside the box, you can create a moat that is truly distinct and captivating.

When it comes to specialization versus generalization, both approaches can be effective. However, the key is to genuinely excel in something. If you choose to be a generalist, strive to be the best at the intersection of a few different skills. Identify what comes easily to you but is challenging for others. Once you have found your area of expertise, dedicate yourself to becoming exceptional in that field. Then, leverage your expertise to broaden your horizons and apply your skills to other categories. This combination of specialization and generalization can strengthen your personal moat and open up new opportunities.

Now, let's shift our focus to the second part of our discussion: "Do Things, Tell People." Building a personal moat is not just about acquiring skills and expertise; it also involves showcasing your accomplishments and making connections. The first step is to create something that you can talk about - something cool, interesting, and unique. Dedicate time and effort to a project that excites you, even if it may not have immediate utility. The goal is to have a tangible creation that demonstrates your creativity, passion, and ability to execute.

Once you have something to talk about, find events and gatherings where you can connect with like-minded individuals or potential collaborators. Engage in conversations about your creation, and don't be afraid to share your enthusiasm. People are naturally drawn to those who are passionate about what they do. By confidently discussing your project, you will come across as knowledgeable and credible.

These events provide an opportunity to network, exchange business cards, and gather contact information. Building relationships and expanding your professional network is crucial in establishing your presence and reputation. As you meet new people, you may discover unexpected opportunities, such as job offers, contracts, or even investors. Your creation becomes a conversation starter, allowing you to make meaningful connections with individuals who appreciate your work.

Over time, as you continue to do interesting things and share them with others, you will build a name for yourself. People will recognize you as "the person who did that cool thing." This recognition solidifies your personal moat and positions you as a go-to expert in your field. When others need assistance or collaboration in a related area, they will turn to you first, further strengthening your competitive advantage.

In conclusion, building personal moats requires a combination of self-reflection, skill acquisition, relationship-building, and the creation of remarkable projects. To help you get started, here are three actionable pieces of advice:

1. Reflect on what comes easily to you but is challenging for others. Identify your unique strengths and talents that can form the foundation of your personal moat.

2. Seek opportunities to acquire knowledge and skills that are undervalued currently but have the potential for future growth. Embrace emerging trends and become an expert in those areas.

3. Create something cool and interesting that showcases your creativity and passion. Share your work with others, attend events, and engage in conversations to build your network and reputation.

Remember, building personal moats is an ongoing process that requires continuous effort and adaptation. By investing in your unique abilities, sharing your creations, and fostering meaningful connections, you can establish a personal moat that sets you apart and propels you towards long-term success.