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What I've Been Thinking About Lately #25

Weekly thoughts at the end of the week

To succeed in business, every task and project must be executed to the best of your abilities. This approach starkly contrasts with the learning methods ingrained in us during our schooling. In school, students are assessed on a scale of 0-100, with the emphasis placed on achieving a certain score to graduate. This system inevitably creates an incentive for students to do just enough to attain their desired grade. The late Charlie Munger succinctly captured this dynamic by stating, 'Show me the incentive and I'll show you the outcome'.

The 'just enough' mindset, which might serve students well in an academic context, can be detrimental in business. In the professional world, it's often the finer details that distinguish success from failure. Unlike in academia, there are no letter grades to measure performance; here, 'being close' is often equal to or worse than 'not at all'.

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