Video (4 Minutes) by Dan Heath - In this quick video Dan Heath, co-author of bestsellers Switch and Made to Stick, outlines how we remember experiences: rather than take an average of each moment, we disproportionately remember the peaks (best/worst moment) and the end. When applying this to business, Dan explains that “great service experiences are mostly forgettable, and occasionally remarkable. People are willing to forget a lot of mediocrity as long as there are some moments that are special”. His advice: focus your energy on building peaks rather than fixing potholes.
Mike Rowe on Finding Your Dream Career
Article (4 Minutes) by Mike Rowe - Mike Rowe of Dirty Jobs (aka the man with a voice that can narrate paint drying and make it sound fascinating) answers a fan letter that begins as follows:
“I’ve spent this last year trying to figure out the right career for myself and I still can’t figure out what to do. I have always been a hands on kind of guy and a go-getter. I could never be an office worker. I need change, excitement, and adventure in my life, but where the pay is steady...”
In true Mike Rowe fashion, his response is perfect for anyone looking to find a dream career, or more broadly, trying to accomplish anything of importance in life.
We Ask Our Kids The Same 3 Questions Every Nigh
Article (5 Minutes) by Meg Conley - As we can attest, reflecting with good questions can help you change the trajectory of your day (and thus your life). We love the following 3 questions by author and mother Meg Conley. While intended for kids, they can equally be applied to adult life:
How were you brave today?
How were you kind today?
How did you fail today?
Read more to gain additional insight into the effectiveness of each question.
Quick Tip (3 minutes): Improving Decisions About Health, Wealth, and Happiness
American economist Richard Thaler recently won the Nobel Prize in economics for his work in behavioral economics, explaining why (shocker) we are not rational and how we can use this knowledge to make better decisions. For an instant decision making upgrade, use these key findings to your advantage:
Loss Aversion and Anchoring: We are much more likely to make decisions to avoid losses versus to achieve gains. For example, we would rather not lose $5 than gain $5. Additionally, we tend to pay more to retain something we own than to obtain something we do not own - even when there is no cause for attachment, or if the item was only obtained minutes ago.
Status Quo Bias: We are more likely to choose short-term gratification over long-term gains. One way to nudge people in the right direction is simply changing the default option: switching users from opt-in to opt-out. In 2006, the US passed a law that encouraged firms to automatically enroll their employees in retirement savings plans, which they could opt out of at any time. As a result, annual savings increased by $7.6 billion within seven years.
Availability Heuristic: If you can easily recall information available to you, you are more likely to rely on this than facts or observations. A psychology professor split a group of students into two and asked them to rate his performance. One group was told to write 2 things he could improve on and the other group was told to write 10 things. The group that was asked to write down 10 things gave him a more favorable teacher rating because they had trouble coming up with more than a few items to improve and thus concluded he must have been doing a good job.
Thank you for reading and have a great rest of the week,