Mark Twain - Boundaries of Knowledge

Whether you are learning or training it is important to understand the boundaries of your own knowledge as well as the boundaries of those you are working with.

D. Brown Management Profile Picture
Share
Quote: It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so. Mark Twain
  • Everyone has different levels of knowledge about different things.  
  • For most it is very difficult to see more than 10% beyond the boundaries of their current knowledge.
  • Like building muscle or endurance physically you won’t get better unless you push yourself to the edge of your capabilities.  
  • Also like physical training it is frustrating and painful when you push yourself this hard.  
  • Unlike physical training where most people know that a 15 minute per mile running pace is relatively slow when we are talking about mental capabilities it is more difficult to compare.
  • Since it is difficult to compare most people tend to believe they know enough or at least that they know more than others.  This impacts how they approach learning and problem solving. The term is called Illusory Superiority

When approaching problems build the habits with yourself and your team:




Selling an Efficient Project
Doubling the pretax net margin for contractors requires both effective selling AND operational excellence. The majority of of people in construction contracting businesses are operationally focused on building the work.
Key Drivers of Value
Valuation is a very critical factor during ownership transitions because it has to be a number that fairly represents the value of the business for the outgoing owners while providing a solid return for the buyers.
Prepare Your Business - Capital
In times of uncertainty, the best strategy is to do everything possible to preserve your capital and ensure credit will be available as needed.