Chapter 1: Why Read This Book? - Pages 2 to 34 Flashcards
“The feeling that you ‘[do] [not] know much about business’ and therefore could never start your own company or take more responsibility in your current position. Better to maintain the status quo than face the fear of the unknown” (1).
Business Angst
“The idea that ‘business is really complicated’ and is a subject best left to highly trained ‘experts’. If you [do] [not] have an MBA or similar expensive credentials, who aware you to say you know what to do” (1)?
Certification Intimidation
“The fear that [you] [are] already ‘in over your head’ and [it] [is] only a matter of time before [you] [are] unmasked as a total fraud” (1).
Imposter Syndrome
This list ranks the largest U.S. companies by total revenue. Being on this list signifies that a company is among the largest and most influential in the U.S. economy. These companies often have significant market impact, substantial revenue, and large-scale operations.
Fortune 50
A Fortune 50 company refers to a business that ranks within the top 50 of the annual “Fortune 500” list, which is published by Fortune magazine.
“[C]oncepts that represent your understanding of ‘how things work’” (4)”.
Mental Models
One way to “make your mental
Models more accurate by internalizing the knowledge and experiences other people have collected throughout their lives” (4).
Education
Financial: refers to the money or assets used by a business to fund operations and growth, including investments in equipment, infrastructure, or human resources.
Economic: represents the wealth or resources that can generate further wealth, including both financial assets and physical assets.
Capital
“Self-education is, I firmly believe, the only kind of education there is”.
Issac Asimov
Former professor of biochemistry at Boston University and author of over 500 books
