We Study Billionaires - The Investor’s Podcast Network

Classic 17: Smarter, Faster, Better By Charles Duhigg

10 snips

Jun 21, 2022

Discover how control can supercharge motivation in teams and why accountability is crucial for enhancing performance. Explore General Electric’s innovative mix of SMART and stretch goals to fuel productivity. Dive into the art of decision-making with probabilistic thinking and learn how creative setbacks can actually lead to breakthroughs, as seen in Disney's 'Frozen'. Finally, navigate the complexities of managing financial windfalls tailored to individual investor goals.

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ADVICE

Motivating Staff

Give your staff autonomy and lay out different options instead of giving commands.
Even if you prefer one option, garnering staff support is crucial for success.

ANECDOTE

West Point & Ownership

Preston Pysh learned at West Point to take responsibility for everything, regardless of fault.
This instilled an internal locus of control, crucial for productivity and controlling circumstances.

ADVICE

Focus on Controllable Actions

Focus on what you can control, as you cannot change others' actions.
Compliment children for hard work, fostering a sense of control over outcomes.

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Outliers

The Story of Success

Malcolm Gladwell

In 'Outliers: The Story of Success', Malcolm Gladwell examines the often-overlooked factors that contribute to high levels of success. He argues that success is not solely the result of individual talent or hard work, but rather is influenced by a complex web of advantages and inheritances, including cultural background, family, generation, and luck. The book delves into various examples, such as the success of Bill Gates, the Beatles, and Canadian ice hockey players, to illustrate how these factors play a crucial role. Gladwell also discusses the '10,000-hour rule' and the impact of cultural legacies on behavior and success. The book is divided into two parts: 'Opportunity' and 'Legacy', each exploring different aspects of how success is achieved and maintained.

Smarter Faster Better

The Secrets of Being Productive in Life and Business

Charles Duhigg

In 'Smarter Faster Better', Charles Duhigg explores the science of productivity through eight key concepts, including motivation, goal setting, focus, and decision making. The book uses real-world examples from various fields such as the Marine Corps, Google, and Disney to illustrate how productive individuals and organizations view the world and make choices differently. Duhigg combines neuroscience, psychology, and behavioral economics to provide practical advice on how to become more effective and in control of one's life and work.

The Speed of Trust

The One Thing That Changes Everything

Stephen Covey

This book emphasizes that trust is the basis of the new global economy and demonstrates how trust functions in every transaction and relationship. It provides practical advice on establishing trust immediately to avoid bureaucratic check-and-balance processes, highlighting cores such as integrity, intent, and capabilities. With over two million copies sold, it is an essential read for business leaders and public figures to understand and build trust effectively.

Creativity, Inc.

Overcoming the Unseen Forces That Stand in the Way of True Inspiration

Amy Wallace

Ed Catmull

Ed Catmull and Edwin E. Catmull and Amy Wallace

In this book, Ed Catmull shares insights on how to build and maintain a creative culture within an organization. Drawing from his experiences at Pixar, Catmull discusses the importance of open communication, risk-taking, and protecting the creative process. The book includes candid discussions, anecdotes about Pixar's film development, and lessons on managing innovation and creativity. It emphasizes the need for a nurturing work environment and the importance of storytelling in business.