The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Classic 17: Smarter, Faster, Better By Charles Duhigg

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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.

48:02

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ADVICE

Goal Setting for Productivity

Set lofty goals with tight deadlines to boost productivity.
Charles Duhigg uses General Electric's ambitious engine efficiency goal as a prime example.

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ADVICE

SMART Goals and Stretch Goals

Set SMART goals (Specific, Measurable, Achievable, Realistic, Trackable) and stretch goals.
Smart goals provide a sense of progress, while stretch goals encourage innovative thinking.

insights

INSIGHT

Decentralized Control

Companies that decentralize control and empower employees at all levels often achieve higher productivity.
This fosters a sense of ownership and allows for faster adaptation to change.

Get the Snipd Podcast app to discover more snips from this episode

Embracing Accountability in Team Dynamics

04:26 • 12min

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Goal Setting and Communication in Aviation

16:25 • 9min

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Empowering Culture: The Power of Stretch Goals and Workforce Control

24:59 • 5min

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Innovative Decisions and Creative Processes

29:35 • 11min

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Navigating Financial Windfalls

40:48 • 8min

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The Evolution of Corporations and Profit Generation

48:33 • 3min

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#92

• Mentioned in 190 episodes

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.

#991

• Mentioned in 39 episodes

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.

#1201

• Mentioned in 34 episodes

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.

#210

• Mentioned in 111 episodes

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.

IN THIS EPISODE, YOU'LL LEARN:

03:13 - Why control is the key to motivating people.
08:11 - How do you form the best teams?
22:02 - Why GE is setting both SMART goals and strength goals.
29:17 - How to statistically make the best decisions.
41:41 - Ask the Investors: How diversified should I be when my portfolio is my net worth?

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Charles Duhigg’s book, Smarter Faster Better – Read reviews of this book.
Preston and Stig’s episode on Charles Duhigg’s book. The Power of Habits.
Preston and Stig’s episode on Malcolm Gladwell’s book, Outliers.
Preston and Stig’s episode about how to focus.
Preston and Stig’s episode on the importance of trust in business.
Preston and Stig’s episode about creativity.
Our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Check out our favorite Apps and Services.
New to the show? Check out our We Study Billionaires Starter Packs.

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