Summary of Keith J. Cunningham's The Road Less Stupid

By IRB Media

Get the Summary of Keith J. Cunningham's The Road Less Stupid in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: Here’s the proof: How much money would you have right now if I gave you the ability to unwind any financial decision you have ever made?

It turns out that the key to getting rich (and staying that way) is to avoid doing stupid things.

• Language: English
• Publisher: IRB Media
• Release date: Dec 10, 2021
• ISBN: 9781669344186

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Insights from Chapter 1

#1

The author wants you to read his book in a nonlinear way, with each chapter serving as a short, stand-alone lesson. You don’t have to read the chapters in order to have a meaningful experience from the book, but your understanding of each chapter will be enhanced if you have already read the previous chapters.

Insights from Chapter 2

#1

The five core Thinking Time disciplines are: 1) Find the Unasked Question, 2) Separate the Problem from the Symptom, 3) Check Assumptions, 4) Consider 2nd-Order Consequences, and 5) Create the Machine.

#2

All problems can be solved if we ask the right questions and then figure out how to allocate the necessary resources to figure out the best solutions.

#3

The root problem is rarely the obvious gap between what you have and what you want. The root problem is what is impeding your progress from here to there. It is the obstacle that is the problem, not the dissatisfaction with your current circumstances.

#4

A common problem faced by many business owners is low sales. The reasons for this may be numerous, but the root cause is almost always poorly defined. If you don’t define the problem, you can’t solve it.

#5

The three fundamental questions to ask to help get clarity about the root problem/obstacle are: 1) What are the possible reasons I am noticing this symptom. 2) What isn’t happening that, if it did happen, would cause the perceived gap to either narrow or disappear. 3) What is happening that, if it stopped happening, would cause the perceived gap to narrow or disappear.

#6

Thinking Time allows you to check your assumptions and see if they are reasonable. It is important to question your assumptions and see what you don’t see.

#7

The second-order consequence is a result of a decision, and it is the probability of that decision going wrong and the cost of that going wrong. It is impossible to know if a decision will have a second-order consequence, so you must weigh the probability and the cost of failure.

#8

Thinking about 2nd-order consequences minimizes the probability of a double bogey. Mistakes are inevitable, but double bogeys are usually avoidable.

#9

Thinking Time helps you get clarity on the core problem. It is critical that you understand the desired outcome and the obstacles preventing the achievement of this outcome. A description of the destination is not a substitute for the road map that will get