My notes on “How We Decide” by Jonah Lehrer:
Which of the following 2 sentences of praise encourages kids to challenge themselves?
- “You must be smart at this” (intelligence)
- “You must have worked really hard” (effort)
The research revealed that the kids praised for their intelligence chose a puzzle of equal difficulty. Of the kids praised for their effort 90% chose a more difficult puzzle. When praising intelligence, the kids hear “look smart, don’t risk making mistakes”. The fear of failure actually inhibits learning. Continue reading “How We Decide by Jonah Lehrer”
My Notes on “The 80/20 Principle: The Secret of Achieving More With Less” by Richard Koch:
- Conventional wisdom is not to put all your eggs in one basket. 80/20 wisdom is to choose a basket carefully, load all your eggs into it, and then watch it like a hawk.
- Celebrate exceptional productivity, rather than raise average efforts
- Look for the short cut, rather than run the full course
- Be selective, not exhaustive
- Strive for excellence in few things, rather than good performance in many
- Delegate or outsource as much as possible in our daily lives and be encouraged rather than penalised by tax systems to do this (use specialists to the maximum instead of doing the work ourselves)
- Only do the thing we are best at doing and enjoy most
- In every important sphere, work out where 20% of effort can lead to 80% of returns
- Creative systems operate away from equilibrium. Cause and effect, input and output, operate in a non-linear way. You do not usually get back what you put in; you may sometimes get very much less and sometimes get very mush more.
- If you can identify where your firm is getting back more than it is putting in, you can up the stakes and make a killing. Similarly, if you can work out where your firm is getting back much less than it is investing, you can cut your losses.
Continue reading “The 80/20 Principle: The Secret of Achieving More With Less by Richard Koch”