While I've gone through school and graduated from college, much of the knowledge that I use daily was acquired in spite of school. College was, to a large extent, a lesson in operating within a bureaucracy and getting what you want out of it in the process. A great deal of my useful knowledge came from racing motorcycles.
Ride your own race. You can learn from those around you, but what works for others may not work for you. You might do things differently and get better results. Think about what you're doing and make your own decisions.
Don't judge by appearances. The guy with the best gear and a well modded late model bike might be the slowest one out there. The farmer's kid in the overalls on the old dirt bike might just kick your butt. There's almost nothing you can discern by looking at the other riders and their gear on the starting line; you'll just psych yourself out.
Appearances matter. You want to get sponsored? It's not just a matter of speed and skill. You need to look and act like someone worth sponsoring. Putting a zillion stickers on your bike devalues your “billboard space”. If you don't have any sponsors, get a couple (even if for free) and act like you're bigger than you are. It's easier to get a date if you're already (perceived to be) pursued by others. (An Evans sticker on your bike shows others that you are one who embraces new and effective technology!)
Look ahead. Looking further down the track gives you insight into the obstacles and traffic and makes the speed feel slower and more manageable.
Be courteous. Racing looks like a bar brawl at times, but in reality, the riders are looking out for each other. In car racing, drivers will get into fights in the pits after contentious races. Motorcycle racers generally don't because the stakes are higher; they are more likely to apologize to each other rather than fight.
Pay more now and less later. Buying the cheap part will cost more because you'll have to buy the more expensive one when the junk one breaks.
Don't be a loudmouth. The guy who tells everyone how fast he is, usually isn't. The quiet rider who just does his thing is the one who is thoughtful and prepared...and fast.
It takes a lot of time and effort to make it look easy on race day. The guy who rarely gets a mechanical DNF isn't lucky. His bike is safety-wired in places that can't be seen; he's put the thought and effort in where it counts and it shows in the results.
I could go on and on, but you get the idea. Racing takes young impetuous riders and teaches them the lessons that many people never seem to learn. Education is expensive in time, money, and effort. The lessons learned through racing apply directly to “real life”.
Oh, and one more for the politicians out there. If the competition is throwing mud, close your mouth. If they're throwing rocks, duck!