Comparative Advantage
This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…
What is “Comparative Advantage”?
“Be a first-rate version of yourself, not a second-rate version of someone else.” — Judy Garland, actress and singer
Key Points:
- Comparative Advantage means it’s better to capitalize on your strengths than to shore up on your weaknesses.
- Businesses work better if the individuals focus on what they’re best, and work with other specialists.
- Comparative Advantage is the reason why diverse teams outperform homogeneous teams.
- Self-reliance improves your flexibility and knowledge, but it’s harmful taken to the extreme. Work with others to get more done, faster and better.
- The benefit of self-education is being able to see good talent in others. By learning a little about their field, you understand if they are good or not.
Questions for Consideration:
- What can you do better than 90% of the human population?
- How can you spend more of your time doing those things, and less time doing things that others can do better than you?
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True leaders aren’t made by business schools – they make themselves, seeking out the knowledge, skills, and experiences they need to succeed. Read this book and you will learn in one week the principles it takes most business professionals a lifetime to master. Buy The Personal MBA by Josh Kaufman now.
