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The Superpower Of Incentives
Incentives are one of the strongest influences in humankind
Incentives help push workers to be more productive but you need to be careful because of the over justification effect
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436 reads
MORE IDEAS ON THIS
Paramutal Betting Or “Pool Betting”
This is a mental model that states you want to get things that are higher in quality but lower in investments or money. It states that when you bet on something most people don’t usually think will win your return on investment or ROI is incredibly large
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528 reads
Follow Me For Part 3
Follow me if you want a part 3 and figure out a key way that you can build trust with anyone
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438 reads
Opportunity Cost
The main definition of opportunity cost is that every decision you make there is a trade off to it
Not all trade offs are equal though so throughout your day you need to examine the trade offs you are making and figure out whether they work or not
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641 reads
Margin Of Safety and Trus
Don’t go into business or marry someone you cannot trust that is a recipe for disaster
When you say you trust someone then you need to show it by your actions as well that is important
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446 reads
Specialization Is Key
This is a strong mental model to have especially if you are going into a field that is already well established
When you specialize you give people a reason to want to follow you or buy from your business. Specialization can help you gain more customers
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472 reads
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Part 2 as I promised the Incentives mental model was especially interesting
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Other curated ideas on this topic:
What Are the Pros of Incentives?
- Having a good salary and benefits package is great, but having extra incentives for a job well done makes workers feel appreciated. That decreases turnover and increases profits.
- Offering incentives for a good job creates a sense of caring or kinship in the worker and, over ti...
What Are the Cons of Incentives?
- Create conflict: those who don’t receive incentives may be jealous of those who do regardless of merit. Those who receive incentives might also be upset if they worked harder than others to get the same reward.
- The focus of work becomes competitive instead of being focu...
Applying the wrong incentives
The wrong incentives can reduce our motivation to reach a goal.
In the American education system, the incentive is passing tests. That will lead to higher education and being validated as a person who knows things. But the continual assessment pressure is wasting p...
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