Oprah Winfrey leveraged her incredible public speaking skills by giving talks at church as a child.
Many believe proper education, pedigree, and money are paramount to success. If that is the case, billionaires and icons like Oprah Winfrey never would have made their mark. Talent is not enough, and neither is hard work. While we’d like to believe that our success and promotions are based on meritocracy, the reality is that this is untrue.
In their new book The Unfair Advantage, millionaire startup entrepreneurs Ash Ali and Hasan Kubba suggest that despite our upbringing and circumstances, we all have unfair advantages. It is not just wealthy and well-connected people who can get ahead. Oprah grew up dirt poor and in a broken home and family. But she could always command people’s attention. Her grandmother took her to speak at churches. By the time she was a teen, Oprah had thousands of hours of public speaking experience. That paved the road to her eventual stardom.
Ash Ali and Hasan Kubba, authors of The Unfair Advantage, believe we each have unique circumstances ... [+]
Conversely, there are people with endless talent, education, and connections that they never use. So it is less about your advantages and more about how you leverage them.
So what is an unfair advantage? A condition, circumstance, or asset puts you in a favorable business condition. It is unique to you and can not be replicated, copied, or bought. It can be internal or external, earned or unearned, psychological or circumstantial.
We each have unique advantages but often do not recognize what is right in front of us. Ali and Kubba recommend a five-step framework with the acronym MILES to help you realize your unfair advantage.
Money
The capital you have or can easily raise.
Intelligence and Insight
Are you book smart, highly social and emotionally intelligent, or extremely creative?
Location and Luck
Being in the right place at the right time.
Education and Expertise
Your formal schooling and self-directed learning give your intellectual and technological know-how.
Status
Your social status encompasses your network and connections. This is your ‘personal brand,’ which consists of how you are perceived. It includes your inner status, confidence, and self-esteem.
You do not need all these unfair advantages to succeed; that is simply unrealistic. Instead, consider partnering and collaborating with people who balance out and compliment your unfair advantages.
Are you being realistic?
While dreaming big is admirable, ensure you do not focus on the outliers - the Elon Musks and Marc Zuckerbergs of the world. Thinking you will be the next Bezos or Oprah might be possible, but it is a bit far-fetched, as they are, after all, the exception, not the rule.
Instead, be realistic. Make sure your mindset is embedded in reality. Ali and Kubba outline four characteristics of a reality-growth mindset:
Vision
The ability to contemplate and see what will exist. Focus on imagination and goal setting and grow as you go.
Resourcefulness
You need to be resourceful and have the ability to quickly solve problems.
Constant growth and lifelong learning
Your academic degree should be a starting point, not the conclusion of your quest for new knowledge. Many of the products and technologies we will soon have could not have been taught in the classroom, as they did not exist. Think social media marketing in the 1980s and 1990s. It could not have been part of the business school curriculum in that era as we barely had the internet, let alone social media. Instead, continuously think of ways you can upskill.
Grit and perseverance
Rejections and failure pave the road to success. But only if you are willing to dust yourself off and try again.
You can have all the advantages in the world. If you do not leverage them, it is as if you never had them. The Unfair Advantage offers a useful blueprint to capitalize on the skills and opportunities you might not even recognize you have.
