Feeling stuck is a common human experience and almost all of us will go through it at some point in our lives. Whether it’s relationship struggles, dissatisfaction with work, an inability to progress financially, or a pending midlife crisis, all of these situations can bring up a range of mixed emotions like anxiety, fear, anger, and even numbness. We are joined today by Adam Alter, whose new book Anatomy of a Breakthrough: How to Get Unstuck When It Matters Most serves as a much-needed guide to help readers escape inertia and flourish in the face of freedom. Adam is a professor of marketing at New York University's Stern School of Business with an affiliated appointment in the New York University Psychology Department. His research is primarily focused on judgment, decision-making, and social psychology, and his two previous books, Irresistible and Drunk Tank Pink, are both highly acclaimed New York Times best-sellers. In today’s episode, we talk with Adam about the concept behind Anatomy of a Breakthrough, the many forms that feeling stuck can take, and what he has learned about getting unstuck. Tuning in you’ll learn about the fundamentals of goal-setting, why striving for excellence is infinitely more sustainable than settling for nothing less than perfection, and how learning to enjoy the journey will help you find meaning and avoid the aimlessness that can come after achieving your goal. We also get into the nature of breakthroughs, the role of luck and creativity, plus a whole lot more. To hear all of Adam’s thought-provoking insights and practical advice on getting unstuck, be sure to tune in!
Key Points From This Episode:
(0:00:18) Introducing today’s guest, Adam Alter, and the concept behind his new book Anatomy of a Breakthrough.
(0:05:41) An overview of the many ways that you can be financially stuck, the role of financial advisors, and when you should seek out help and guidance.
(0:09:04) Insight into the different types of stuckness and how to recognize when you’re stuck.
(0:12:42) Why people tend to question their lives with the arrival of a new decade.
(0:17:10) Unpacking the risks and benefits of major life decisions and the concept of lifequakes.
(0:20:25) The boundless nature of goal-setting and how it impacts the search for contentment.
(0:23:27) How lifequakes influence the search for contentment and how to prepare for them.
(0:26:00) What a breakthrough looks like, how it interacts with creativity, and the role of luck.
(0:35:17) A breakdown of the random impact rule; particularly in the context of careers.
(0:38:01) One key practical difference between striving for excellence versus perfection.
(0:40:05) The originality trap: why trying to do something completely new can cause paralysis.
(0:43:13) Understanding the plateau effect: why being stuck can actually be a sign of progress.
(0:44:23) The fundamentals of goal setting: the dangers of setting unachievable goals and the benefits of making it about the journey rather than the destination.
(0:49:03) Advice for processing the success of other; especially in the age of social media, and how Adam defines success.
Links From Today’s Episode:
Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — https://rationalreminder.ca/
Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/
Rational Reminder on X — https://twitter.com/RationalRemind
Rational Reminder on YouTube — https://www.youtube.com/channel/
Rational Reminder Email — info@rationalreminder.ca
Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/
Benjamin on X — https://twitter.com/benjaminwfelix
Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/
Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/
Cameron on X — https://twitter.com/CameronPassmore
Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Adam Alter — https://adamalterauthor.com/
Adam Alter on LinkedIn — https://www.linkedin.com/in/adamleealter
Adam Alter on Twitter — https://twitter.com/adamleealter
Hal Hershfield — https://www.halhershfield.com/
Bruce Feiler — https://www.brucefeiler.com/
Books From Today’s Episode:
Anatomy of a Breakthrough — https://adamalterauthor.com/anatomy
Irresistible — https://adamalterauthor.com/irresistible
Drunk Tank Pink — https://adamalterauthor.com/drunk-tank-pink
Episode 290 - Morgan Housel: Same as Ever
Episode 289 - Retiring Retirement Income Myths with the Retirement Income Dream Team
Episode 288 - Scott Rick: Navigating the Money Minefield in Real Relationships
Episode 287: A Practical Look at Private Equity w/ Steve Balaban & Epic Life w/ Justin Breen
Episode 286: Errol Morris: Tuning out the Noise
Episode 285: A Year in Review
Episode 284: Prof. Scott Cederburg: Challenging the Status Quo on Lifecycle Asset Allocation
Episode 283: When Volatility is Risk, and Introducing The Money Scope Podcast
Episode 282: Dr. Jim Grubman: The Psychology of Wealth
Episode 281: Lifecycle Asset Allocation, and Retiring Successfully with Justin King
Episode 280: Shane Parrish: Clear Thinking in Everyday Life
Episode 279: Stock Returns in Recessions, and FSRA's Approach to Regulation
Episode 278: Juhani Linnainmaa: Financial Advisors, and the Cross-Section of Returns
Episode 277: The Cash Wedge w/ Phil Briggs, and and the Four Ds of Tax Planning
Episode 276: Darin Soat: The Problem with Finfluencers, and Why it Won’t Get Better Anytime Soon
Episode 275: Live from Future Proof 2023: Decoding Financial Decision-Making with Hal Hershfield
Episode 274: A Live 5-Year Rational Reminder Retrospective (and Creating Superfans with Brittany Hodak)
Episode 273: Professor Samuel Hartzmark: Asset Pricing, Behavioural Finance, and Sustainability Rankings
Episode 272: Rob Carrick: Canadian Personal Finance in 2023
Episode 271: Expected Returns of the AI Revolution (plus People are Lying to you About Money w/ Anthony Walsh)
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