Commercials have a long history of using well known television characters (and the actors who play them) in their spots to leverage authority bias. I recently saw a Dell commercial using Jim Parsons in character as Sheldon Cooper from the hit show, The Big Bang Theory, to try and sell computers. It’s an effective technique […]
Read MoreHow you look and what you wear to a job interview is probably more important than your actual qualifications for the job. Most of us don’t want to believe that. We’ll kick and scream and rally against the machine, but the fact remains: we like people who look good […]
Read MoreI once played a game with a colleague that he didn’t know he was playing. He and I were standing across from one another and chatting when I happened to notice that we both had our arms crossed. I realized there was a pretty good chance that if I uncrossed my arms, he would do the same and uncross his. I put my theory to the test and uncrossed my arms. Moments later, he followed my action and uncrossed his arms. Ah, the power of social proof […]
Read MoreIt took me 10-years to break a personal bad habit. Five years of knowing I wanted to stop, and another five years of actually trying to stop before I beat it. How many bad habits have you been able to shake? Probably less than you’d like, if any at all. That’s the power of commitment and consistency bias. We are creatures of habit, for better or for worse […]
Read MoreWhat 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 […]
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