Wealth and Wisdom

Ever since we started writing our book…

Maybe it’s my reticular system noticing questions and articles on education. Maybe it’s the law of attraction. Either way readers and friends keep sending me articles and asking me questions. Most recently a friend sent me an article from National Review on inflated college rankings. They wrote a great article Beware College Rankings.

In this article they look at Barrons’s Profiles of American Colleges. In the last decade the number of schools earning the top rating “most competitive” went from 54 to 82 (a 52% increase). The number of schools earning the next best rating “highly competitive” increased from 92 to 109 (an 18% increase). Did Barrons relax their standards? Not at all. What has happened is grade inflation.

Barrons rates schools based on:

• Class ranking
• GPAs
• SAT scores

What appears to have caused the increase? The GPA of high school students has creeped up over the last decade. This has occurred without an increase in SAT scores or other indicators of educational achievement.

The dubious value of ivy league schools

This just confirms that elite schools provide minimal additional value. This is backed up by research and by personal experience. What I’ve found is that after a couple years no one cares what school you attended. What they care about is your skills and performance.

Think about it. When you go see your accountant do you ask him/her where they went to school? Does a judge ask a lawyer about their law school? In almost every case what matters is what you can do and how you perform.

It’s why we are writing our book. We wanted to provide people a high quality lower cost alternative. It is possible to get a top quality education at a fraction of the cost (12% of the cost of in state tuition, 7% of the cost of out of state tuition, and 5% of the cost of private colleges).

For years my philosophy on change and improvement had two aspects: Continuous improvements and ah ha moments.

Continuous (incremental) improvements

These are the incremental adjustments we make on a regular basis. If you focus on always getting better  and have a vision of how you want to be this can have a profound impact. Just a 1% per week change and you’ve increased by 52% per year. This discounts any compounding that may occur.

An example of this is how I focus on improving my racquetball game. I always have one or two areas I focus on. It may be swing mechanics one week and shot selection the next week. The point is that I always keep in mind where I want to improve. As a result my skill level has gone up dramatically.

Ah ha moments

These are leaps forward. Sometimes this happens due to incremental improvements. After a while something clicks and you operate at a new level. It also can be from learning a significant lesson (life lesson, reading a book, taking a class, getting lessons, etc).

Going back to racquetball as an example I have jumps in my game that happen several times a year. It may be that the timing clicks. It may be that I gain a new (deeper) understanding. Recently it was due to a lesson I took that refined several areas of my game. In all cases my skills went to a new level.

A third way to change

Ah ha moments usually result in major improvements. While it is often a 10% – 50% jump it can at times be life changing. Usually this is due to a change in how you perceive the world and the change happens instantaneously.

Stephen Covey calls this a paradigm change. I’ve read it for years but never truly experienced it myself.

You need all three

Both incremental improvements and ah ha moments are important and help move us to higher levels of performance and living. The power with paradigm shifts is that you can make major changes instantaneously.

All three are powerful tools to create a rich life. In fact the three work hand in hand. Incremental improvement leads to ah ha moments. Ah ha moments in turn lead to paradigm shifts.

Why paradigm shifts are so powerful

These are usually life altering events. Maybe you lose someone and it gets you looking at your life. Working endless hours becomes less important as you focus more time and energy on your family. Or perhaps it is the doctor telling you that unless you make changes you won’t live to see your kids graduate.

Often change is held back by our need for a process. The process often is needed because our subconscious can’t accept the fact that change can occur without a lot of steps (often painful). If it was that easy why didn’t I do it sooner? Why did I put my family through so much pain? Why did I have to lose my job? Why did I have to risk my health?

In reality change happens instantly. When your subconscious feels you have completed the required steps change happens.

Paradigm shifts are shortcuts. They eliminate the process and go right to the change.