[A Sip of a Book] How the World's Top Professionals Work: '51 Rules of Work You Alone Don't Know'

Some sentences encapsulate the entire content of a book, while others instantly resonate with the reader’s heart, creating a connection with the book. We introduce such meaningful sentences excerpted from books. - Editor’s note

Why do some people succeed while others fail doing the same work? How did those who reached the very top of the world get there? To answer the question of how to work well, the author investigated firsthand how over 5,000 world-class figures he met during 15 years as a journalist work. From global company leaders such as the founder of Pixar, the CEO of Gucci, the CEO of Lego, and the founder of Airbnb, to Nobel Prize-winning economists, film director Bong Joon-ho, and professional gamer Faker, the book reveals the reasons why they inevitably succeed.

Imagine you bought a stock for 100,000 won. The current price has dropped to 50,000 won, and there is no chance of a rebound; in fact, the price is more likely to fall further. In this case, it is better to sell now to prevent greater losses. However, many people hold onto the stock, refusing to sell below the purchase price of 100,000 won, resulting in even greater losses. This is because they are too reluctant to accept the 50,000 won loss they are currently facing. The cost already paid and unrecoverable is called a ‘sunk cost.’ Continuing to invest in a failing project because of the time, effort, or money already spent is called the ‘sunk cost fallacy.’ This concept was introduced by American behavioral economist Richard Thaler and arises from an excessive and irrational attachment to costs already incurred.

If a problem arises, it is beneficial to stop if the future losses will be greater than the costs already incurred. However, the sunk cost fallacy hinders rational judgment. Even knowing that cutting losses immediately is better, people say things like “We’ve already spent so much on this project,” “It’s an item we’ve prepared for a year, so it’s too wasteful to give up now,” “I kept watching a boring movie because I didn’t want to waste the money,” “We’ve come too far to turn back,” or “We’ve waited this long, so let’s wait a little longer,” and continue down the wrong path. But the only thing waiting for us at the end of these poor decisions is massive loss.

- The psychology of people who stubbornly pursue doomed endeavors: sunk cost

No player has won more championships than Faker (Lee Sang-hyeok). Yet, at some point, every time he failed to win, he was criticized as having ‘passed his prime.’

“At first, I was sensitive to it, but now I think it’s something I have to accept. In a pro career, there are ups and downs.”

When I met him, his team was in crisis due to a losing streak. Despite being criticized as ‘past his prime,’ he was surprisingly calm. He said that a personality test described him as having a ‘robot-like personality,’ and that even when he loses, he thinks rationally, reviews the game, and thoroughly gives feedback.

“I look back on what was lacking and try to improve those parts immediately. Sometimes I can’t sleep because of emotions, but if I think rationally, I need to sleep well now to play well tomorrow.”

He said that before a match, he tells his teammates, “Let’s do well. Let’s be comfortable and calm.” Maintaining composure is an essential condition for success. People say about him, “There may be slumps, but there is no downfall.” Jeon Yeon-sung, former coach of Afreeca Freecs and a former pro gamer who witnessed both the two giants of the pro gaming world, Lim Yo-hwan and Faker, cited strict self-management as the secret to their long-lasting top positions.

- The ability shared by the world’s best talents: impulse control

The 51 Laws of Work You Don’t Know | Written by Lee Hye-woon | Maven | 424 pages | 17,500 won