We live in a much more specialized and technical world than our ancestors. Seeking sound advice and guidance is more imperative than ever, but you must get this information from someone credible. It is vital to understand that in a specialized, technical world, credibility exists in a narrow range.
Recently, I reviewed some material compiled by a Nobel Prize-winning behavioral economist. Within his field, he has an elite level of credibility. In the material, he analyzed basketball statistics regarding the advantage of shooting a three-point shot, stating that three-point shots are more efficient than two-point shots because a three-pointer is worth 1.5 times more than a two-pointer. His premise was that since NBA players hit three-point shots approximately 40% of the time and they make two-point baskets around 50% of the time, there’s a statistical 20% advantage to taking a three-point shot every time. While this might work in the field of economics, mathematics, or statistics, it does not necessarily hold true in the world of basketball.
To verify this, I phoned my friend and colleague Jay Henderson, who today runs a very successful financial firm. In his younger days, he played Division 1 college basketball and went on to play several years professionally. Jay helped me understand and confirmed that, on paper, while there may be a statistical advantage to taking three-point shots, in reality, three-point shots create rebounds that are farther from the basket and provide an advantage to the opponents as they are more likely to get the rebound and set up a fast break at the other end of the floor.
Cellist Yo-Yo Ma is arguably among the greatest living musicians. In addition to his immense body of work in classical music, he has a tremendous musical range. His collaboration with Carlos Santana on George Harrison’s “While My Guitar Gently Weeps” is simply incredible. I would yield to Yo-Yo Ma on any and all matters relating to music. But his advice on what kind of motor oil to use, how to invest your retirement funds, or who is going to win the Super Bowl would likely be no better than anyone else’s. We must seek wisdom from credible people and ensure their expertise applies to the situations we face in our lives.
As you go through your day today, recognize credibility and follow the leader.
Today’s the day!
About the author: Jim Stovall is the president of the Emmy-award winning Tulsa based Narrative Television Network as well as a published author of more than 50 books—eight of which have been turned into movies. He is also a highly sought-after platform speaker. He may be reached by email at Jim@JimStovall.com.