CHAPTER 14-WHY CONVENTIONAL WISDOM IS ALMOST ALWAYS WRONG

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WHY CONVENTIONAL WISDOM IS ALMOST ALWAYS WRONG

Because:-
Conventional wisdom is the scripture of mediocrity.

Mediocre beliefs create mediocre results.
Conventional wisdom is for the masses. Are the
masses broke or rich? Exactly.

“Cut up your credit cards, live below your means,
and invest in a long-term well-diversified mutual
fund.”

“High expectations can lead to high levels of disappointment.”

“You can’t have your cake and eat it, too.”

“A good job is the way to become rich.”

“You better save your penniesfor a rainy day.”

“To get rich, you have to be a crook, a liar, a thief,
or get lucky.”

FXXK THAT.

I still remember my mom saying to me when I was
a little kid, “Clean your plate, my child, there are
children starving in China.”

I would ask,“But, Mom, how is cleaning my plate
gonna help the starving children in China?” I
never got an answer.

She would also say stuff like: Close the fridge,
you’re letting the air out; money doesn’t grow on
trees; and when I was young all I got was a pair
of socks for my birthday, and I was happy to get them.

Did you hear that kind of stuff growing up? All of us
got this kind of “scarcity thinking” pounded into us.
Why? Because our parents got it pounded into them
by their parents!

Here’s another good one: “If God wanted us to have
money he would give it to us.” About that, I say the
Lord helps those who help themselves. The buffet
counters are opened to all. Take and enjoy as much
as you want. Help yourself. That's the true meaning
of " God helps those who help themselves." No
work, no food. Period.

It reminds me of the story from the movie The
Pursuit of Happiness with Will Smith:

There was a man who was drowning, and a boat
came, and the man on the boat said, “Do you need
help?” and the man said, “God will save me.” Then
another boat came and tried to help him, but he
said, “God will save me.”Then he drowned and
went to Heaven. Then the man asked God, “God,
why didn’t you save me?” and God said, “I sent you
two boats, you dummy!”

 Can you see the hand of God leading and guiding you to your riches?

So do you have a plan,or do you expect the Lord to provide?

Here’s a series of quotes that reinforces the idea
that conventional wisdom is almost always wrong:

“We don’t like their sound, and guitar music is on
the way out.” -- Decca Recording Co.,rejecting the
Beatles,1962.

“This ‘telephone’ has too many shortcomings to be
seriously considered as a means of
communication.”- Western Union, Internal Memo, 1876.


“There is no reason anyone would want a computer
in their home.” -- Ken Olson, President, Chairman
and Founder of Digital Equipment Corp.,1977.


“The concept is interesting and well-formed, but
in order to earn better than a ‘C,’ the idea must be
feasible.”
-- A Yale University Management professor
in response to Fred Smith’s paper proposing
reliable over night delivery service
(Smith went on to found Federal Express)


“If I had thought about it. I wouldn’t haved one the
experiment. The literature was full of examples that
said you can’t do this.”
--- Spencer Silver on the work that led to the
unique adhesives for 3M“Post-It” Notes.


CONVENTIONAL WISDOM HAS BEEN
HOLDING PEOPLE BACK FOR CENTURIES

All of our lives, we are told by our peers that our
goals are not realistic. Our dreams are too far-
fetched. Our expectations are too high.
We’re told, “You have to remember who you are and
where you came from.”

What? Who the heck gives a shit where I came
from? All I need to know is where I’m going!

They preach to us that “those things” are for “other”
people; we certainly can’t expect that for ourselves;
who are we kidding? Who do we think we are?

It reminds me of another story.

A young newly wed was preparing a ham for Christmas dinner.

She carefully cut off the end of the ham before placing it in the pan for
roasting.

Her husband asked her, “Why did you cut off the end of the ham?”

And she replied, “I really don’t know. My mother always did, so I thought you were supposed to.”

Later, when talking to her mother, she asked her
why she cut off the end of the ham before
roasting. it, and her mother replied, “I really don’t
know, but that’s the way my mom always did it.”

A few weeks later while visiting her grandmother,
the young woman asked, “Grandma, why is it that
you cut off the end of a ham before you roast it?”


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