This is a document I'm working on, I'm trying to write down some principles that I live by. Not all of them are right or wrong, most of them are just the way I do things/see things.
1. General Principles
1.1. Fairness
This is a broad principle that covers many aspects of life, including personal relationships, coworkers, and business transactions. I believe in treating people fairly. Don't take advantage of others, and don't let others take advantage of you. If you can't strike this balance, you won't accomplish much in life. However, many things are easier said than done. Everyone is subjective and slightly biased. We need to resist this idea and try to be as objective as possible.
1.2. Establish long-term, win-win relationships or transactions
These words have been used so often that they have a bad reputation, but I believe in their meaning. Success is built on the long term, and to maintain healthy long-term relationships, you must build and participate in long-term win-win relationships. For a deal to make sense, both parties must win. So always ask what the other party is getting in return.
A deal that only benefits one party will not last long because you will have to keep looking for new (weak) partners. The final return on investment will be negative. Short-term returns are minimal, so I do not advocate earning short-term returns. Because short-term returns often have long-term negative effects, they distract you from focusing on long-term returns, and the hidden opportunity cost is extremely high.
Therefore, we must focus on long-term returns to achieve greater success.
You can try playing the Infinite Game (https://simonsinek.com/books/the-infinite-game/).
When I say "short-term rewards" here, I mean one-time, short-term rewards. Please do not confuse them with incremental rewards that build on larger, long-term goals, as the latter are very necessary.
1.3. Avoid building “bad” relationships
There are people who are immoral, there are people who are “unethical/toxic”, there are people who don’t share your values or mission, and there are people who waste a lot of your time. Let these people go, get them out of your life, but we often miss the last category of people who waste our time.
Some people are "high maintenance" in the same way that "high maintenance friends" are. They always need your attention, get mad at the little things, need to talk to you, or need you to keep repeating to them how important/good/etc they are. There's nothing wrong with that in and of itself, but I (CZ) can't tolerate it. I only want to be around people who are low maintenance and confident.
Then there are those who "love to chat". Again, there is nothing wrong with that in and of itself. But at this stage in my life, I don't have time for small talk. So, I avoid those types of people as well. More on that later.
1.4. Ethical
Never cross the moral line, otherwise you will be bitten back one day.
When dealing with users, always do the right thing, not the easiest thing.
1.5. Focus
Success is not about how many things you do, but how well you do the few things you do. Focus allows you to work hard and eliminate distractions from your life.
For me, I don't have many hobbies. I exercise 30 minutes a day. I don't have many material possessions that need to be maintained because the time cost is very high.
The potential risk is that you focus so narrowly that you miss opportunities, but in today’s world of information overload, that’s unlikely to happen.
1.6. Positive
We all face many challenges in life, whether it's dealing with relationships with family and friends or problems at work. If you have a positive attitude, positive results tend to follow. I'm not sure exactly why this is the case, but that's just how the world works.
There is a quote that has stuck in my mind and has helped me a lot over the years.
“When you hit rock bottom, what do you do? Just keep going and you’ll get out.”
And if you know you are doing the ethical thing, all the negativity goes away. You have positive energy, which is one of the main benefits of being ethical.
1.7. Be responsible
The right mindset is a prerequisite for success in life. Be responsible and take pride in what you do.
Don't think of yourself as just doing a task, don't think of yourself as just laying bricks on a wall, think of yourself as someone who is building a cathedral. If you don't think of yourself as "building a cathedral," then this job is not for you and you should find a different job.
If you're going to do something, take it seriously. Think about what you need to do to do something better that no one else has told you about. Take responsibility for your results, and also take responsibility for all the results, whether they are successes or failures. If you adopt this mindset, your work results will continue to improve, and you will make faster progress on the road to success.
1.8. Continuous Learning
The world we live in is constantly evolving. We must continue to learn, read books, live in different cities, and have a worldview.
I don’t usually read the news. I find it easy to agree with articles that take only 10 minutes to read, but often don’t go into the details and don’t leave much of an impression after reading them.
But when I read books, they go into the details, the whys behind things, and after eight hours of reading, some new concepts stick. I find that reading books has the highest return on investment in self-improvement. I buy a lot of books, about 300 a year, but I don't read them all. I finish about 80 books a year.
I also try to write a little bit every day, whether it’s a blog post or an article (like this one). Writing helps me solidify my thoughts and better organize them.
2. Understand the world
If one wants to achieve any degree of success, then it is obviously important to understand how the world works.
To understand how humans work, read Sapiens. We live in a human world. Everyone has a different version of the world in their head, which means everyone lives in a different world. We need to understand the world they live in.
Don't hold too many black and white views. The world is not a binary world of black and white. Many people have too simple a view of the world, which makes it difficult for them to achieve great success. We need to look at things from a deeper perspective. In real life, most things are balanced.
For example, some people naively believe that all rules are good, but rules are made by people and are not perfect. Please read: "Law" (1850), "Economics in One Lesson" and other works.
We also need to understand that there are some limitations in this world and we do not live in a perfect world.
Don't fight a battle you can't win, but avoid it, go somewhere else, do something else. There are many things to do in this world. Please focus on the things where you can make a positive contribution.
3. Decision-making framework
Making good decisions is a skill that can be mastered with practice. Whether I’m making a quick decision or a thoughtful one, I go through this mental decision framework.
3.1. First principles
If the decision touches on one of the core principles, then follow those principles. This is pretty self-explanatory. Otherwise, make the decision using the decision framework.
3.2. Small and big decisions
The first thing to determine is the scale or impact of the decision.
If it's a small decision, make it quickly or delegate it to someone else, then move on. For example, where to eat or a small investment.
If it is a major decision, collect data first, discuss it in the group, and then consider it for 24 hours, such as large sponsorships and investments.
3.3. Reversible and permanent decisions
Some decisions are reversible, like developing a new product feature. You can always stop and work on something else, or turn it off when you're done. There will be some sunk cost in time and energy, but it's limited.
But some decisions are not easy to reverse, such as a large advance payment on a sponsorship deal, the acquisition of a large company that we plan to integrate with our team, etc.
3.4. Do I have the expertise?
If it is something I am very familiar with or have some background information about, such as technology or products, then I can make decisions faster. In areas that I am not so familiar with, such as marketing, I either delegate or involve other experts or make decisions more carefully.
3.5. Adequate information
The final question is, do I/we have enough information? For small decisions, I don’t need a lot of information; but for big decisions, we should try to get as much information as possible. But often in the end, we will have to make decisions with limited information.
Finally: It is usually better to make a decision first and then execute it than to make no decision at all.
4. Team and organization
4.1. Team is greater than self
On a poorly performing team, individual excellence rarely leads to personally satisfying results, and vice versa. But if a team is performing well, every member, including those who are struggling, is likely to thrive.
The team should generally come first, and that is also the best long-term individual outcome for everyone on the team. In the short term, you may have to "sacrifice for the team" on various occasions, but in the long run, you will win the ultimate victory.
4.2. Frequently adjust the team
Don’t let the organization become stale, provide more opportunities for new leaders to gain experience. Quickly solve the “wrong people in the right positions” problem (although it may also increase the problem)
The team structure determines the system architecture. Please read the book "Team Topology". We don't want our architecture to become obsolete, and we need to change the team structure frequently.
4.3. Internal competition is good.
We will always face various kinds of (external) competition, and some internal competition is also good, as long as we behave professionally.
4.4. Controlled chaos is also a type of structure.
This is a bit counterintuitive. Let's look at the two extremes of chaos and structure. It's easy to understand that total chaos is bad.
Many people tend to think that the more structured an organization is, the better. I disagree. Of course, a clear structure has many benefits, including clear divisions of authority and responsibility, and less overlap or wasted effort. In general, it can make an organization more efficient. But what most people don't think about is that it usually only makes an organization more efficient at doing one thing. (In fact, the word "organization" means the structure and optimization of one thing.) The most extreme form of over-organization is bureaucracy. As we grow, we need to constantly remind ourselves not to go that far.
When the world changes, a tightly structured organization will have to work harder to adapt. The world changes rapidly, especially in a young industry like ours. There is less organic innovation in tightly structured organizations, and less internal competition (or pressure to constantly improve). At a certain size, top-down decision making becomes less effective.
However, this is not to say that "chaos" is better. Somewhere between "chaos" and "structure" there is a balance. We live and work in a changing world, in a new industry. Our industry has redefined many traditional concepts, such as headquarters, companies, teams, and even money. Considering that we work remotely around the world, many traditional structures will not fit us.
At the same time, we do need to exercise strong controls in many areas. We need to handle user funds and must firmly enforce safety, compliance, ethics and neutrality. We operate in a regulated environment and compliance is critical. A controlled chaotic environment requires the best talent, passionate and responsible people. How to find this balance is an ongoing challenge for us. The key is that sometimes chaos is also a feature.
4.5. Frequent local team building
Our goal is to hold team building once a month, but in practice, due to scheduling etc., it is usually held every two months.
The best team building activity is eating together. Getting everyone together for a meal is simple and effective.
Team building can be done locally, across teams. I’m generally against flying people for team building, as it’s too expensive and time consuming. I don’t want to create the impression that we just fly people on “holidays”. For small, truly distributed teams, it might be OK to do a team building every 18 months as an exception, ideally taking advantage of some existing trip or event.
4.6. Providing Feedback
Whenever and wherever an idea is presented, whether in a one-on-one discussion or in a large group, I give direct feedback. This is something I learned from Netflix’s book (No Rules). I actually prefer giving feedback in a large group so that others can learn as well and I don’t have to repeat myself multiple times.
Many people told me that they were shocked the first few times they received this feedback, but eventually got used to it.
I want to build a culture of candid feedback at Binance. I feel like 99% of people don’t provide enough feedback to each other. Working remotely, we can’t get body language feedback in offline meetings. We have to compensate for this by providing direct and candid feedback.
Bridgewater (Ray Dalio) has a DOT feedback system that I really like. We will try to adopt this system in the future.
4.7. Don’t give too much verbal praise
If you do something well, you may hear compliments like "good job, great job, etc." from others, but probably not so much from me. Conversely, when you do something poorly, if I see it, you're likely to hear advice.
My reasons are:
1. We hold ourselves to high standards, we expect excellence, and achieving good results should be the norm. If we make a fuss about every “little” achievement, it feels like we’ve set a very low bar. That’s not what we want to do.
2. I don’t see success for all teams when working remotely. I can’t be all things to all people. If I congratulate some people but not others, it can create a psychological imbalance or a sense of favoritism. This question is not intended to be critical, I give direct constructive feedback on things I see so that others don’t complain about favoritism.
3. Satisfaction should come from within. When I do something well, the reward in my heart is enough.
4. Time inefficiency: Once something is done, we should focus on the next thing.
I'm not saying this is a good approach, it's just how I do it. In fact, I think carrots and sticks might be a better approach, but I haven't figured out how to do it effectively in a balanced way.
Different cultures also create different expectations. The book Culture Maps explains this very well. Americans are generally more of a "compliment" culture, while Asians are more of a "stick" culture.
A more effective approach would be to adjust their compensation at the next review cycle. So I do offer them carrots, just not verbally.
4.8. Reports and Rumors
Reporting is a normal part of business, but there is a right and a wrong way to report.
Rumors are when you complain to me one on one about someone without telling them. Rumors are terrible, but I don't deal with them, I just ignore them. In fact, when you spread rumors to me, I only have a negative impression of you (not them).
A third party debrief is when you book a three-way meeting with CZ, yourself, and the person you want to complain about. That way, I can hear both sides at once.
More importantly, it will force you to have a candid conversation with the other person before you tell me.
I only need one meeting to handle a reporting issue involving a third party. In contrast, if I were to deal with a rumor, I would need multiple one-on-one conversations. You know how I feel about time (more on that later).
Therefore, use an open way to report involving third parties, rather than rumors. Although this method is tougher, being able to express why you are dissatisfied with someone or something in a professional manner is also one of the key skills for success. Don't be too weak, but don't be too tough. Finding the right balance is the key.
4.9. Last-place elimination
I believe in the principle of "last in, last out". I have seen many arguments against ranking employees, not creating internal competition, etc. These arguments have their merits, but I don't think they strike the best balance.
In my experience, high performers love working with high performers. When a team of high performers is a pleasure to work with, the work itself becomes addictive. When there is one low performer on the team, everything is destroyed. The lowest performers should be eliminated.
I also believe in the principle of "team, not family" described in the book "Rules Without Rules". Although it sounds unpleasant, there is a difference between an organization and a family. Although we care about each other, we will not bring poor performers around because it would be irresponsible to other members of the team.
5. Recruitment
Always hire the best talent. You need to be part of a strong team to be successful, whether that's hiring subordinates, hiring peers, or hiring superiors. Hiring your own boss is one of the best ways to advance in your career, and it shows that you are at a high level of maturity.
5.1. Passion
Passion is one of the most important factors I look for. We need to work remotely. We can’t (and shouldn’t) micromanage. People without passion slack off and get left behind. We need to hire people who build cathedrals.
5.2. Hire “ambitious” people
Hire people who can grow into the role, not those who have ‘been there, done that’. While previous experience is certainly helpful in many cases, and a prerequisite for certain roles (such as compliance work), the latter can get boring. It also often creates a ‘fixed’ mindset, as people tend to be overly shaped by their previous experiences.
5.3. Doers and Talkers
Hire doers who can express their ideas, not talkers who can't do anything. Doers who can't express their ideas clearly are also a problem. They may be good in some narrow technical contexts, but we can't have too many of them on our team.
5.4. Targeted recruitment
Each new employee must be given a clearly defined role, ideally with aggressive numerical goals and a roughly 70% chance of success.
5.5. Refuse to attach too much importance to titles
Don't hire people who worry about titles. It's not a matter of principle, but it's definitely not a good sign.
5.6. Mission Beyond Money
Don't hire people who are overly focused on salary and compensation, but we should pay fair compensation.
5.7. If in doubt, do not hire.
If you have any doubts during the hiring process, don't hire. Small doubts during the interview phase can always turn into big problems later.
6. Leadership style
6.1. Don’t try to motivate people who have no motivation.
It's like dragging a dead horse. It's impossible to do and it's not worth it. You can't motivate people who don't share your mission or values, or who don't like you as a leader, or who are just lazy. Let them work somewhere else. People are either motivated or they're not. We only work with motivated people.
We need remote work. It’s easy for lazy people to slack off because no one is watching them. But, a blessing in disguise. They can slack off for a day, a week, or even a month, but after a few months, you’ll know when they don’t produce any work. Remote work actually makes it easy for you to identify these people over time. Once you find those unmotivated people in your team, get rid of them immediately.
6.2. Never micromanage
Micromanaging takes more time than doing it yourself. If you need to micromanage someone, then you should let that person go.
6.3. Interview qualifications and post-hiring performance
Only use “years of experience” during the hiring process. Once a person joins the team, use results to measure their performance.
6.4. DO: Work hard, uphold our values and lead by example.
7. Goals, OKRs/KPIs
Use output metrics (users, revenue, market share) rather than input metrics (tasks, features, meetings, work hours).
7.1 Don’t take your goals too seriously
There are many potential drawbacks to goal-making or setting. There have been many articles written about this, so I won’t go into detail. Some of these drawbacks include: feeling defeated when you can’t achieve your goal, not working hard after you easily achieve your goal, and being inflexible in direction, etc.
I think the biggest problems with goals are: 1. Goals are never accurate or scientific, they are always guesswork. In our industry, the market environment changes too quickly. 2. Discussing goals takes too much time (too costly).
For these reasons, set a goal, work towards it, and if you have achieved it, set a new one. Don't take your goals too seriously or get too attached to them.
Let me end this with an example. When Binance was first founded, we set a goal to become a top 10 exchange in the world within 3 years, but we became the world's number one exchange in just 5 months. We didn't stop there.
8. Commercial Transactions
8.1. Simplify transactions
Complex deals with many variables often fail, even after they are signed. Complex deals are hard to understand and often lead to confusion or misunderstanding. One party always feels that they screwed up in some way and want to change something. Simplify the deal: Party A offers this and gets that; Party B offers this and gets that.
8.2. Say “no” early
Too many people waste too much time on useless "partnership" discussions. When your brain space is occupied with these useless discussions, you are not thinking about useful partnerships.
8.3. Non-exclusivity
Long-term mutually beneficial relationships do not require exclusivity. People who demand exclusivity are often insecure about the competition or the value they can provide, at least in the long run. In these cases, a short-term (or one-time) compensation plan may be a better fit. But you know my point, don't spend too much time on short-term deals. The world changes too quickly to lock in, and you can't predict the future.
Never sign an exclusive contract. Don't lock yourself in, and don't expect others to lock you in.
8.4. Termination
Always include a termination clause in your contract. We need a way to get out of a non-win-win relationship, and this allows us to always have options open. Many people think about the average (usually optimistic) case scenario at the contract stage, which is a mistake. Think about the worst-case scenario, and that's the purpose of a contract.
8.5. Limited liability at all times
Never sign a contract that could ultimately result in a large or “unlimited” liability. Extreme worst-case scenarios should be considered at the contract stage, not “normal/best-case scenarios”.
8.6. No special treatment
Never offer one client a side deal that others don't, and always treat all clients the same.
9. Reactive business development, pursuing “low-hanging fruit”
I (CZ) generally take a reactive approach to business development, and life in general. People often don't understand this side of me, or what it's like.
This is in no way to be confused with passion. I am passionate about what I/we do but am more passive in how I deal with others, build business partnerships, etc.
I don’t chase the shiny things. In business development, I usually don’t go after big clients or big partners because it takes a lot of effort and time to teach them about crypto assets and get deals done through their own internal legal and board processes. The conversion time is too long, and they often ask for unfair terms with low ROI.
Instead, I like to spend my time working with top companies that come to us. They are already looking to enter the crypto space and want to work with us, we just need to figure out how and what the deal is. The ROI is much higher this way. Even though these companies may not be Apple or Google, if we can consistently have small successes, sooner or later the big partners will come to us, and most of them will come "unsolicited."
Other examples include: I don’t waste my time trying to convince people who have made up their minds they don’t like crypto, like Warren Buffett. I talk to people who want to learn, even if they may not be as famous.
I will not visit countries or governments that are negative about cryptocurrencies, but rather I will visit those that want to adopt cryptocurrencies and help them, even if they are small countries.
Essentially, it’s about trying to make the deals that we can make.
But please don’t confuse this with a “short-term” mentality. While they may not be deals with the 10 most famous companies in the world, most of these easy deals are still long-term deals.
There are a few things to note about this approach.
We need to be good enough that other people want to come to us. Fortunately, Binance is in that state right now. We need to continue to be in that state. I had this mentality even before Binance became successful, but obviously it will be even better after Binance becomes successful.
We need to be very selective with our clients. We always get a lot of requests, especially given where Binance is today. Choosing the best ones is not as easy as it seems. Again, my approach tends to be to close the core deals quickly.
Still, we sometimes need to do some outreach just in case the other party also has a “passive” mindset. We make our outreach specific and explicit, and then, if they don’t respond, we know they’re not interested.
I don't try to meet celebrities in my life. I like to deal with people who come to me.
10. Work style - don't waste time
Time is a more limited resource than money. Don't waste time. When you start to value time, money will follow.
10.1. Say “no” early and often
The most effective way to save time is to say "no".
When someone wanted to discuss an “important” but vague partnership, I said no. When someone invited me to meet some big shots but there was no clear purpose, I said no. When someone invited me to a gallery to see an art exhibition, I also said no. When someone invited me to watch an F1 race, I also said no. Football games, no… Although I would also go to these events with friends, the default answer was “no”.
That way I can save time for more important things, even if it’s just being alone in a hotel room. I’ll start thinking and focusing on more important things, like writing this post.
11. Communication
11.1. Be concise and clear
Be sure to make your intention or goal clear. What do you want? Say "I want..." before you start explaining the background. The other person may agree with you and you won't need to explain.
11.2. Write concisely
Please read the book "The Essence of Writing". I really hate to see people either not writing or writing too long. This means they either didn't take the time or couldn't organize their thoughts.
You need to write your thoughts down, but keep them short (not too long) and write them well.
For me, I just want to see:
3-5 key points (15 minute meeting)
1/2 page to 1 page (30-60 minute group session)
Maximum 5 pages (monthly or quarterly business review)
No need for fancy slides, just text and simple bar charts.
For a blog, article, or book, you can write a little longer.
But learn to write better. I am still practicing myself...
11.3. Use the most effective methods/tools possible.
There’s an old saying that I don’t agree with: “Don’t email if you can call the person, and don’t call if you can meet in person.” My view is exactly the opposite: “Don’t meet if a phone call will do, and don’t call if an instant message will suffice.” There’s nothing wrong with either approach. If it’s not clear over the phone, face-to-face communication is better. However, for most common communications, I care more about efficiency than form. You need to have a strong enough relationship (or reputation) with the people you communicate with regularly to understand each other, rather than guessing and always being skeptical. Most of our work is remote, so I use this approach.
11.4. Avoid communication chains
Don't talk to someone who is relaying someone else's information, because the information you get is guaranteed to be incorrect. Talk directly to the source.
At work, we often have project managers or other leaders as middlemen. We need to avoid long chains of communication. Get the source in a group/meeting, but don’t make the meeting too large.
11.5. Use instant messaging tools for synchronization or work coordination.
11.6. Use one message instead of multiple messages.
Sending a message like this will generate 5 notifications on the receiving end, which may make me wait longer to read the reply. Instead, send the message like this:
One notification, done.
Yes, I try to optimize my time this way. I don't like chatting with people who have a "bad" chatting style. They have a lot of time, and I don't.
11.7. Do not use instant messaging tools to engage in arguments
Don't text to debate or argue. Pick up the phone and have a video or voice call to debate.
11.8. Too much communication is bad
Too little communication is bad; too much communication is also bad. If you have to constantly over-communicate to make things work, something is wrong and you need to address the underlying issue.
11.9. Provide context when asking questions
We work in a remote environment and we don't get to see many of our colleagues. Some questions can be easily misinterpreted. So, be sure to explain the context in which you are asking the question.
12. Meetings
12.1. Keep it short
Keep your meetings short. Five minutes is a good idea. If you can’t hold a five-minute meeting with a close colleague, you haven’t found your groove with them yet. Think about how to fix this.
12.2. Start on time
Join the meeting 1 minute early. Set your alarm to 3:59 instead of 4:00. This way the meeting will start at 4:00:00.
12.3. Things not to do
Don’t say the same old “Here’s what I’m going to tell you, here’s what I’m telling you, and here’s what I just told you…”
Just say the "tell everyone" part.
Don’t start with “Today’s agenda is…”
Go directly to the meeting.
Don't ask "Can you hear me? Can you see me?"
Test your equipment ahead of time and jump straight into the meeting.
Don’t say “Thanks for joining…”
Go directly to the meeting.
12.4. The number of participants in the discussion should not exceed 10
A discussion should only involve 5-10 people who are familiar with the topic. The more people there are, the slower the discussion will go.
Calls with more than 10 people should be fast synchronous calls.
12.5. Eliminate those who do not speak
If you are attending a conference and don't need to speak, then you probably shouldn't be in the meeting. You probably just need to get the minutes.
12.6. Write down the main points
Write down the main points before the meeting. Writing down the main points helps to clarify your thoughts. I (CZ) am a visual person. I remember much less of something that is just explained to me verbally. Written documents are also easier to forward. It is impossible to forward something verbally. Google's "telephone game".
Don’t make your written document too long. For a 30-minute meeting, one page should be enough.
12.7. Reject PPT
PowerPoint is a waste of time. Use bullet points and bar charts to show history and trends.
12.8. No "introduction" meetings will be held.
I don't do meetups, get-togethers, discovery sessions, etc. I'm not a hub, and I'm not good at maintaining many relationships. I prefer meetings with a clear purpose. Some might say this is too "realistic," but it's efficient. It may offend some people, but my goal is not to be friends with everyone, but to get things done.
13. Products and Delivery
13.1. Scalable Products Only
Only work with products that scale. MVP, then shut down, tweak, or scale (go for it). If the product doesn’t scale, don’t work with it.
13.2. User-centric
Having users is the key, everything else is not so important. No users means no value, so we must treat our users well.
14. Public Relations
14.1. No Big Bang Release
Don’t do a massive PR campaign on the first day of a release, something will always go wrong. Give the system/product a week or so to adapt and stabilize before we do a massive PR campaign.
14.2. Do not conduct public relations activities on empty memorandums of understanding or letters of intent.
We should focus on the results of PR activities unless PR can provide us with meaningful help. We should be wary of small partners who only want to use our brand to enhance their credibility.
14.3. No delay in public relations activities, announce them when they are ready.
What I disagree with is this: Sometimes the PR team will suggest waiting until a certain date or time to announce something that is ready. Reasons could include, but are not limited to: it’s Friday night and there will be less PR content, let’s wait until Monday morning; we just announced something else and we want to space out the PR a little; let’s save this PR for a week later, Christmas, when we will have less news. This only creates unnecessary delays, pushing all future workflows further back, so the loss of efficiency far outweighs the tiny optimization achieved in “better access” to news. It’s extremely expensive to delay our work. Postponing PR will only make it linger in people’s minds for a longer period of time, which is unnecessary.
Announce it when you’re ready and move on to the next project.
Tweet. Many social media experts have suggested the best times of day to tweet. If your job is specifically about social media, this approach might work. I just tweet when an idea pops into my head. Otherwise, the mental cost of holding it in my head isn’t worth the benefit I’ll get from tweeting that information a few hours later. After I tweet, I go do something else.
14.4. Response to journalists
If you don't respond, they will just write the worst possible version of the story. Respond, document it, and publish it later if needed.
14.5. Respond quickly to negative news
Otherwise, the negative news will just keep spreading, unless you are sure it is a small news outlet that will not get any reposts.
15. Rest, stay calm and relax
I've been asked about sleep duration, jet lag, etc. so I added this section.
15.1. Sleep
I recommend that everyone find their own sleeping pattern so that they can get the most energy.
For me, I sleep 5-6 hours at night, and then usually take a 30-45 minute nap in the afternoon. I am usually most alert after the nap. My second most alert time is in the morning, which is about an hour after I wake up. So, during this time of my most alertness, I will do some serious thinking or make difficult decisions. Then use the rest of the day to handle more "more mundane" tasks.
I have a little secret, napping is also a way for me to cope with jet lag. When I am jet lagged, the nap is a little longer. Having two opportunities to sleep helps.
Also, when I’m tired, I either relax or take a nap.
15.2. Calm
I have a calm personality. If others sense that I have certain emotional fluctuations, then my emotional fluctuations may be smaller. I also have strong emotions, but I will not be overly excited or overly sad. Having this calm personality helps to deal with the high-pressure environment we often encounter as a startup in a new and fast-moving industry.
Part of this is innate, and part of it is acquired. I believe in the theory of imitation, which helps me a lot in keeping my emotions calm.
Holding ourselves to high moral standards also helps. Knowing we are doing the right thing means there is nothing to worry about. It makes me mentally strong. And knowing we are making a positive impact on the world helps, too.
15.3. Relaxation and entertainment
I also relax like most people do. I exercise every day, I do some sports, like snowboarding, I watch some movies (usually after someone recommends it to me), I do some traveling when I'm in a new city, I relax with friends, eat, drink, etc.
I am not interested in luxury goods, cars, jewelry, etc., although my lifestyle may be considered high-end by most people. I travel frequently and stay in high-end hotels. I am often invited to some fancy parties (which I actually don't like).
I love gadgets of all kinds, phones, cameras, drones, even digital watches, some of which I never even use.