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38. Secrets to Successful Team Building with Mike Michalowicz

ISI Brotherhood Podcast

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The Psychology of Owning a Car

Most people in most scenarios are not motivated by actual ownership, but are more motivated by psychological ownership. A scenario would be a rental car versus a car that you have your personal car. If we give our employees the ability to control, give them intimate knowledge and personalization, they invoke the sense of ownership even without owning any of the business. When business owners give equity to an employee, there's a form of entitlement that's really at risk here.

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