Road Less Stupid: Summary and Actionable Steps
This is a summary and actionable steps for each chapter from the book The Road Less Stupid: Advice from the Chairman of the Board.
Chapter 1: The Dreaded Dumb Tax
Summary: Making emotional and optimistic decisions without proper thinking can lead to financial losses. Most people’s current financial situation represents their best thinking. Smart people do dumb things when emotions override intellect.
Action: Implement the discipline of Thinking Time to minimize dumb decisions. Schedule regular thinking sessions and prepare high-value questions beforehand.
Chapter 2: The Discipline of Thinking Time
Summary: Structured thinking sessions can help identify opportunities, minimize risks and maximize results. Thinking Time requires a great question as a launchpad.
Action: Create a ritual for regular Thinking Time sessions. Experiment to find the process that works best for you.
Chapter 3: The 5 Core Disciplines of Thinking
Summary: Certain disciplines like finding the right question, checking assumptions, considering risks and creating a plan are key to minimizing “dumb tax”. Separating the real problem from the…
