Thursday, July 28, 2011

Career Success, becoming famous and...

There are two ways.

Either you choose a career path which is very competitive and proven to be very rewarding for people on top and then be very good at it. For example you choose medical profession and join Harvard Medical School(top one percentile or less).

Or you can join a career which is new and market is yet to appreciate the potential(hence less competitive)and then be reasonably good at it. In this case you don’t need to be genius or extremely good but if the market demand increases you will automatically make it huge(early mover advantage). These people are either visionary or they are ordinary people rejected by competition from the hot career options.

This is not only true for choosing a career. It is a more generic than that. You can choose a crowded street and try all your best (dangerous) driving skills and reach your destination in one hour instead of one hour and ten minutes or find an unknown shortcut and make it in five minutes. These Information asymmetries are real.

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