11/22/2021 Tip: Why My Roommate Called Me a Cheater

Today’s Quote

“You can celebrate accomplishments, but after a while, you need to start celebrating the speed at which you’re traveling instead of the destination you’ve reached.”
~Max Guinn


Today’s Tip

In my freshman year in college I took a very challenging Calculus class.

It turned out that my roommate was also in the class. Both of us had a hard time keeping up. And we were both nervous as the final exam approached.

We both studied hard for the exam.

And the results: He got a C+ on the exam. I got an A.

I don’t think I was naturally any smarter than he was. And we both spent about the same amount of time studying for the exam.

So, why did I do much better?

Well, the one thing I did that he didn’t was that I used Schaum’s Outlines.  Schaum’s Outlines, which I had come across in high school, are study guides that complement what you learn in class and in textbooks. Importantly, each guide includes hundreds of sample problems along with the answers.

And so, while my roommate was only studying from the course textbook, I also used Schaum’s Outlines to review nearly every conceivable type of Calculus question that I could be asked, and how to answer it.

Interestingly, when my roommate saw me using the Schaum’s book, he questioned it. 

He didn’t think it was fair for me to use it because the teacher never specifically told us about it. I remember him even saying that it was like cheating.

Well, clearly using supplemental materials to improve your performance is not cheating (unless those “supplemental materials” are performance-enhancing drugs to become a better athlete). Rather, I consider it being proactive and creative in order to achieve your objectives.

The same principle holds true in business. For example, would you ever try to do pay-per-click advertising without first learning how to do it right? If not, you’d probably lose your shirt.

Or would you ever put a full page ad in a magazine without either using an advertising agency with great expertise and/or spending time learning about how to create effective ads?

The key point is that you must seek out knowledge from the best possible sources to succeed in business. 

Think about what skills would help you accomplish your goals. And then go out and find the best resources to gain them.


Today’s Resource

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Today’s Question: What was produced when sewing machines were first set up in a French factory in 1841?

Previous Question: In economics, the Hoover index is equal to the portion of the total community income that would have to be redistributed for there to be perfect equality. It is also known by what other name, which is based on a popular character of folklore?

Previous Answer:  The Robin Hood index.

It is conceptually one of the simplest inequality indexes used in econometrics. A better known inequality measure is the Gini coefficient.


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