Management Archives

How to Avoid the Sunk Cost Fallacy: Why Quitting Is for Winners

When should you give up on an idea or a project? What’s the best way to identify diminishing returns? Sometimes it’s hard to give up, especially when you’ve invested so much and you don’t want to be a quitter. But, sometimes cutting your losses and moving on is the best course of action. In The Voltage Effect, economist John A. List explains why, sometimes, quitting is for winners. Continue reading to learn how to avoid the sunk cost fallacy and stop wasting valuable resources.

Discover Your True North: Quotes About Top-Notch Leadership

What are the best Discover Your True North quotes? Why is it hard to be a leader not only for others but for yourself? Being a leader is much more than just telling people what to do and expecting results. It’s building mutual respect between every worker at your company and finding a balance between life and work. Below we’ll look at four Discover Your True North quotes so you can reach your full potential as a leader.

How to Scale Culture as Your Business Grows (The Voltage Effect)

As your organization grows, how can you maintain your culture? How should your teams be organized, and what should they prioritize? The Voltage Effect by John A. List is an economics text designed to help you understand the characteristics of scalable ideas. He argues that you should focus on building a sustainable culture while you scale your ideas. Read more to learn how to scale culture by embracing collaboration and diversity.

Accountability in Business: When Leaders Should Apologize

Should you apologize to your team when you mess up? Is it possible to apologize too much? As difficult as it can be, it seems obvious that leaders should admit their mistakes. However, it’s not so cut and dry when and how they should apologize. In The Voltage Effect, John A. List discusses what accountability in business should look like. Keep reading for List’s advice that can help you be a better leader and teammate.

How to Understand Your Target Audience & Maintain Momentum

Is your target audience scalable? How can you make sure that it is? Just because your initial audience loves your idea, it doesn’t mean that a larger audience will feel the same way. John A. List provides advice on how to understand your target audience initially and as you grow so that you don’t lose momentum over time. Keep reading to learn how to scale your target audience.

The Problems With Leadership and Communication Today

Dare to Lead: Book Overview and Takeaways

What’s the problem with the traditional language leaders use? Why is the relationship between leadership and good communication so important? The language you use to speak to your employees is crucial. If you’re speaking to them in a way that minimizes or silences them, then you won’t have a functioning team that will help you on the path to success. Keep reading to learn why leadership and communication are more important now than ever.

The 4 Common Business Mistakes Executives Make

What are the most common business mistakes executives make? How can you avoid these mistakes to achieve success? Some mistakes and misconceptions are common enough that Keith Cunningham’s book The Road Less Stupid takes the time to discuss them particularly. Note that, as used by Cunningham, the word “stupid” refers specifically to things that you do or accept even though you are smart enough to know better. Below we’ll examine these mistakes so you’ll be able to spot and avoid them.

How to Be a Great Leader: 4 Ways to Encourage Your Team

Are you struggling to connect with your employees? How can you be a great leader to them? Businesses today struggle with getting team members to do more than just their job. Teams should strive to be collaborative and experiment on their own, and the only way to do that is if leaders encourage it. Continue reading to learn how to be a great leader that fosters a healthy environment and productive relationships at work.

The Road Less Stupid: Book Overview (Keith Cunningham)

Do you let pride cloud your judgment when it comes to running your business? Do you have goals but no plan for how to reach them? In The Road Less Stupid, Keith Cunningham says that to achieve financial success, you must avoid easy mistakes. He describes the top mistakes that you need to avoid and explains his methodology for thinking through business issues. Read below for a brief overview of The Road Less Stupid.