Can SMART personal goals help you to become more successful in life? I confess. I didn’t believe in goal-setting for a long time. After all, I’ve always forgotten to continue working on my New Year’s Resolutions by February every year. But after reading dozens of articles and books on success and execution and testing the…
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Mental Model Examples (50+) That Will Make You More Successful
In this article, you’ll find more than 50 mental model examples that will make you understand the world and human nature better. So you can become more successful in business and life. What is a Mental Model? A mental model is your thought process to explain how something works. Think about it. Probably when you…
Commitment Bias: How To Avoid and Benefit From It
Why is ending a long relationship so hard?Even if you know it’s not good for you anymore, it’s still difficult to end it.The answer is commitment.Your friends know your partner, you have photos on Instagram together and you have shared how happy you were.So the imaginary stakes of a breakup are high.Because your mind tries to be consistent with your…
Personal SWOT Analysis: How To Analyze Your Life Like A CEO
What is Personal SWOT Analysis Personal SWOT Analysis is a framework to analyze your situation in life to make better long-term decisions. Think about it. You’re a one-person company. You have: And if your life resembles a company, it’d make sense to manage your life like a CEO, right? Of course. Now, executives use a…
Trade In The Modern Era: Information Arbitrage
In the old days, trade was hard. Imagine traveling from one city to another on horseback for days. Or sailing with your ship without seeing the land for months, eating the same dried food or fish every day. But it was also lucrative. Traders were buying goods cheaply in one city, and selling them for…
Hindsight Bias Meaning, Examples, and How to Avoid It
Hindsight bias is a fallacy where people feel they knew how things would turn out after the events occurred. Take yourself back to December 2019. A new decade is about to start. Who was expecting a pandemic that’d keep us under lockdown and change how we live for years? Who was expecting a war in…
Goodhart’s Law: Soviet Nail Factories & The Power of Incentives
The Soviet Union had a shortage of nails during Lenin’s time. To increase production, his government started giving bonuses to the factories for the number of nails they produce. After hearing about the bonus, the factories reduced the size of the nails to produce as many nails as possible. In the end, they met the targets and…
10x instead of 10% – Exponential Thinking
10% faster, 15% more, 5% less… Our brains think incrementally by default. That’s why many people focus on making things slightly better. You can see it every day. Hiring 10 more employees, spending $10k more on ads, opening one more shop… And the best-case scenario, they get what they planned for: an incremental improvement. But…
Parkinson’s Law Meaning, Examples, and How to Overcome It
Parkinson’s Law means that work expands to fill the time available for its completion. Imagine you have two weeks to complete a project. How likely would you deliver the task earlier than the deadline? If your answer is not likely, you’re not alone. Because even if the project with a two-week deadline could be finished in three…
Make Your New Year’s Resolutions The Right Way: The 5/25 Rule
Thinking about new year’s resolutions is fun. It is motivating and makes you look forward to the new year. But as the first weeks of the year pass, you get distracted from your goals and the motivation fades. In the blink of an eye, you find yourself thinking about the following year’s resolutions without achieving…