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#329 Charlie Munger (the NEW Poor Charlie's Almanack)

Founders

NOTE

The Importance of Explaining 'Why' and “maximizing the extremes.”

Explaining the 'why' behind tasks and decisions leads to more compliance and persuasion. Carl Braun, a successful businessman, emphasized the '5W's' communication rule, where explaining the 'why' was crucial. People are more likely to understand, consider important, and comply with tasks when they know the reasons behind them. This applies to all communication and even if the reason is obvious, it's essential to include it. Additionally, in the business world, specializing and maximizing or minimizing variables to extreme levels often leads to success.

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