Tuesday Dispatch: Issue #68

The Owl and The Beetle

Jan 10, 2023

∙ Paid

This week we learn about the sunk cost fallacy, the power of deliberate practice, and changeable traits. As well as car sizes and wealthy pets.

This week, I'm sharing my game-changing strategy for rolling onboarding documents. I created them for my team, and they made a huge difference.

Let's get going!

3 Droplets of Leadership

Throwing Good Money After Bad

The sunk cost fallacy is a cognitive bias that happens when a person continues a course of action even though it is no longer in their best interest. This is often referred to as "throwing good money after bad."

The fallacy can lead people to make irrational decisions because they must "get their money's worth" or "justify" their previous investment. This can be costly, leading to bad decisions that are not based on logic or what is best for them.

Recognizing when the fallacy may be influencing your decisions is essential as considering all relevant information, not just the resources already invested.

Check out this video on Sunk Cost Fallacy. It's great!

The Power Of Deliberate Practice

Deliberate practice involves four steps: set goals, break them down into smaller tasks, repeat and practice these tasks until they become automatic, and review and reflect on your performance.

Unlike regular practice, deliberate practice needs your full attention and is done to improve your performance.

Don't miss this great article on deliberate practice.

Traits You Can Change and Traits you Can't

It's easy to feel discouraged when we think about our own abilities and the idea that some traits can't be coached. But don't let that stop you from believing in yourself and the potential of others. With the right opportunities and guidance, anyone can rapidly develop their skills and reach new heights. So don't be afraid to trust in yourself and those around you!

2 Grains of Technology

Carsized: bringing car spotting into perspective

Are you sure your next car will fit your current parking spot? This tool will help you compare vehicles by actual size. It's pretty cool; check it out!