The World's Best Book Summaries
What is the spillover effect? How does it impact your ability to scale an idea? In The Voltage Effect, economist and professor John A. List provides advice on how to figure out if a particular idea will scale. In order to do this effectively, you must understand the spillover effect, recognize it when it’s happening, and manage it well. Read more to learn how to deal with the unintended consequences of scaling your idea.
What are bad leadership qualities that can ruin your business? What is the common theme in these toxic behaviors that destroy a leader’s potential? Bill George’s book Discover Your True North claims it’s important that you identify your core purpose and ethics to become an effective and resilient leader. To illustrate the importance of having these guiding principles, George identifies the five qualities that commonly cause leaders to stray from their core purpose and ethics. Keep reading to learn why these bad leadership qualities are a leader’s worst nightmare.
What causes runaway costs? How can you keep your costs from spiraling out of control as your business scales? Managing costs is vital as your organization grows. When scaling up, you can take certain precautions to stay on top of overhead costs and per-unit expenses and keep them at a level that allows for sustained profitability. Continue reading for tips from economist and professor John A. List on how to control costs over time.
Is it hard getting your employee’s attention? What are some ways to become a better leader? There are a lot of responsibilities when it comes to leadership, and it can be easy to fall into traps that make you a bad leader. But according to Bill George’s Discover Your True North, there are three steps to optimize your leadership so you can reach your full potential. Find out how to be a better leader and be the change in your workplace.
How can you know your idea will scale? What should you look for, and what should you avoid? Economist and professor John A. List says that a viable business idea has four characteristics. It has a scalable audience, it’s not dependent on talented individuals, it anticipates spillover effects, and it keeps costs under control. Read on to learn about these four characteristics of a good business idea.
What’s the best way to support your team in the workplace? What are the benefits of a team-oriented style of leadership? Staying involved with your team and giving them autonomy earns you respect and better results. Discover Your True North by Bill George further says that this type of leadership builds strong relationships with employees that will make feedback easier for them to accept. Learn how to support your team members so they know you’re rooting for them.
Should you pay bonuses before or after the performance period? What’s the best way to use social incentives within a team? In The Voltage Effect, economist and professor John A. List offers his advice for how to take things from the small scale to the big stage. He shares a set of strategies designed to increase your business’s chances of success as it grows. One of these is using reward-based motivation. Read more to learn how to scale successfully by setting the right incentives to motivate your team.
Why are a support system and balanced life important for your career? What are the top three ways to improve work performance? Bill George’s book Discover Your True North focuses on strategies to become a strong leader by improving the way you work. He offers covers on how to bolster your leadership by maintaining a strong support system outside of work as well as maintaining a balanced life. Let’s look at the three ways to improve your work performance by keeping your personal life healthy and happy.
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.
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.