What if you could actually increase sales of a product by raising its price? Sounds like magic, right? It’s true though. There are circumstances where increasing the price of a product will help it sell. And there’s a pretty simple reason why. But first, a story […]
Read MoreHas a car salesman ever offered you a cup of coffee or a glass of water upon entering the dealership? Have you been handed a free sample of a product as a gift? Invisible mental biases are consistently influencing the decisions you make. And one of the strongest and most important to understand is your tendency to reciprocate the favors, disfavors and concessions of others […]
Read MoreYou are incentivized to believe to be true the things that you want to be true. If the significance of this idea does not immediately capture you, be patient. Sit with it. Lay with it. Fight with it. And then accept it, because fewer ideas are more important to your everyday life.
Read MoreCharlie Munger is known for his quick wit, for not suffering fools, and for working alongside Warren Buffett to build Berkshire Hathaway into the behemoth company it is today. When billionaires give advice, I try to listen, and Munger offers some in a […]
Read MoreLet’s say I wanted to create a successful podcast to support Wealest. How do I do that? This is the problem I’m going to tackle using 5 relatively simple problem solving strategies you can start implementing right now. These ideas are inspired by a speech Charlie Munger made outlining how he would go about building a billion dollar company like Coca-Cola using these techniques […]
Read MoreThe human brain has evolved over 7-million years to survive in a very dangerous world. Mental programming like the “flight or fight” instinct helped us to live and reproduce in desolate environments with scarce resources. Today, much of the earth’s population experiences a very different world to that of our ancestors, and yet our brains’ mental biases […]
Read MoreAs a producer, part of my job is finalizing deals with other businesses. And whenever I’m having trouble closing a deal, I ask myself what the incentives are of all the parties involved. What are my incentives, and how could they be clouding my judgement? How is the person across the table from me incentivized, and how are those incentives affecting their view of the deal […]
Read MoreCharlie Munger is a billionaire - but that’s just the beginning. He’s a tremendous thinker and builder. He has served as the Vice Chairman of Berkshire Hathaway since its inception, working alongside Warren Buffett to build one of the most successful businesses in the world. While quotes impart wisdom, only living will make you wise […]
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