Last month, a friend of mine turned down a $50,000 consulting project because his calendar was completely booked. Two weeks later, a $250,000 opportunity emerged—but he couldn’t take that either. He had optimized himself into a corner. This scenario illustrates one of the most powerful ideas from Morgan Housel’s The Psychology of Money: The Opportunity […]
Words Into Works #128 | Temptation Bundling
Imagine you have a workout bike gathering dust in your living room. You know using it would be good for you, but you can’t seem to make yourself hop on and start pedaling. One day, you get a brilliant idea: you’ll only let yourself binge that addictive new Netflix show while you’re spinning away on […]
Words Into Works #127 | The Ivy Lee Method
Imagine it’s 1918. You’re an executive at the Bethlehem Steel Company in Pennsylvania, one of the largest steel manufacturers in the world. Despite the company’s success, you and your colleagues need help managing your time effectively. Enter Ivy Lee, a productivity consultant with a revolutionary idea. His method was so simple yet powerful that it […]
Words Into Works #126 | The Commitment Device
In the labyrinth of human decision-making, we often find ourselves at odds with our future selves. We make grand plans in moments of clarity and motivation, only to have them crumble when faced with the temptations of procrastination or instant gratification. Enter the commitment device: a self-imposed constraint designed to bridge the gap between our […]
Words Into Works #125 | The Mere Exposure Effect
In a world saturated with marketing messages and social media influence, understanding the subtle psychological forces that shape our preferences is more crucial than ever. Enter the Mere Exposure Effect, a concept that might explain why we find ourselves humming that irritating jingle or reaching for that familiar brand on the supermarket shelf. In his […]
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