38 Weeks to Get Rich
What follows is my summary & key takeaways to help you digest the 127 page document.
Week 18: There’s No Actual Skill Called “Business”
There’s no actual skill called business. Avoid business schools and magazines.
It’s too broad.
“Business” isn’t one skill it’s dozens, if not hundreds of them. But those who want to advance would benefit by understanding the basic concepts of game theory, psychology, ethics, mathematics, computers, and logic.
Doing is faster than watching.
A lot of people think they can become really skilled at something by watching others do it, or even by reading about others doing it. But in reality, you’re going to learn a lot more about running a business by operating your own lemonade stand or equivalent.
The number of “doing” iterations drives the learning curve.
Well, if I start a business where I go in every day and I’m doing the same thing, so I’m putting in thousands of hours, but they are thousands of hours doing the same thing. Whereas if I was putting in thousands of iterations, that would be different.
You learn more by doing. And doing the same thing over and over reinforces one lesson, but doesn’t teach you a new one.
Next week we’ll review chapter 19 about accountability & leverage.