27A – Reading Reflection No. 3

For this assignment, I read How to Fail at Almost Everything and Still Win Big by Scott Adams

The Theme

The general theme that I took away from reading this book is that, despite contrary beliefs, there is a formula behind success. Everyone has intrinsic personalities, preferences, and outlooks on life and success. But many people go through life not maximizing their skills due to external or internal factors: fear of failure, fear of risk, or whatever else it may be. In this book, Scott Adams reflects on his major shortcomings and uses those experiences to shed light on important life and entrepreneurial competencies. 

Connecting the Book and Class

Other than building tenacity through failure, this book connected to the class on one topic that struck a chord with me. 

Knowing when to Quit (Exit)

At this point in the semester, we have nearly covered all of the aspects of the entrepreneurial process with exiting the last part. Scott Adams talked about how to measure the strength of a business venture and using that knowledge in making the difficult decision to exit. He argues that the idea of being persistent in a "dead" concept or venture will only add insult to injury. Also, very rarely do start-ups begin with absolute failure, in its overall concept, and miraculously achieves success overtime. I think opportunity analysis and exit strategy were two of the many concepts that book connected with the class.

Exercise Based on the Book

If I had to design an assignment based on concepts taught in the book, I would build it on the foundation of human capital. Scott Adams proposed an idea that for every skill one obtains their odds of success doubles. He admits the "formula for success" is arbitrary as not all skills are equivalent, but nevertheless those who are willing to learn more will achieve more than someone who does nothing. For this assignment, students will identify all of their skills and competencies and then create a list of 10 new skills that could enhance or supplement their current skills. 

My 'Aha' Moment 

One thing that I learned that changed the way I think about success is the idea of systems vs. goals. I had always been taught to set goals high and to do whatever it takes to achieve those goals. The only problem is until you achieve those goals, and there's a chance you never will, you will constantly be in a state of despair or fantasizing. Also, once you achieve set goals you now experience a void that can only be filled by establishing another set of goals. Thus the cycle continues. Systems, on the other hand, are processes or routines that may not guarantee success or the results you envisioned, but the act of "doing" gives a sense of fulfillment. And fulfillment can increase your energy and chances of success.