Tuesday, 3 September 2024

If you play where you have an advantage

The first rule of competition is, that you are more likely to win if you play where you have an advantage. Doing so requires a firm understanding of what you know and what you don’t know. Your circle of competence is your personal sphere of expertise, the area where your knowledge and skills are concentrated. It’s the domain where you have a deep understanding, where your judgments are reliable, and your decisions are sound.

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