The Endowment Effect is a psychological effect when a person overvalues an object or service because they own them.
They tend to develop an emotional attachment to the item and are not willing to give it up even when all rational decisions would say otherwise
Our habits make us and break us. Habits are nothing but repetitive behavior when done repetitively become automatic. To learn how building habits work.
Driven from Shakespeare’s character Lady Macbeth who appeared noble and virtuous just to get their own way even if the outcome is bad for others.
The business life cycle is the progression of a business over time and can be generally divided into 5 stages:
1. Launch, 2. Growth, 3. Shake-out, 4. Maturity, 5. Decline
Whenever we look outside we see the present form of things and how beautiful they are on the outside. While missing the fact that each and everything is either dying or decaying.
Our brain works in a lot more complicated ways than what we can imagine. The brain will try to use shortcuts and preprocessed information to make our decision as fast as it can.
It may be the routes you take when walking towards your home or when you have to recognize a brand just by seeing its colors.
Stoicism is to endure pain and suffering without showing feelings and any complaints towards it. It’s made to make you more resilient, happier, and virtuous and as a result become a happier, better person and a professional.
How did you get over your last relationship? How did you get over your pet’s death? Why did you stop missing lectures in college for a particular lecture? We as humans get attached to things a lot easier than getting detached from things.
The only way to get better was to compete with people who were better than you.
This meant that I had to lose almost all the matches I was playing in order to get better. Losing too much can be super demotivating too. So losing is good, but losing too often will make you quit the thing completely.
Who said quitting is bad, quitting is one of the best things you can do to become successful. “Winners quit all the time, they just quit the right stuff at the right time”