The World's Best Book Summaries
Is it ever a good idea to do a product line extension? What are the advantages and drawbacks? In Positioning, Al Ries and Jack Trout outline the conditions that should be met before you do a line extension. They also explain why market leaders generally avoid line extensions. Keep reading to learn about the disadvantages of product line extensions and when it’s advisable to go in that direction.
What do you do when you and your significant other have different priorities and goals in life? How do masculine and feminine priorities tend to differ in a relationship? It’s perfectly normal to have different life goals and relationship priorities, in fact, it would be stranger if two partners had the exact same priorities. In the book The Way of the Superior Man, David Deida provides advice for how to handle these differences and support one another. Below, we’ll explore the differences in priority between masculine and feminine, and what your responsibilities are in your relationship.
Is learning how to deal with failure at work important? How do you develop failure resilience? Knowing how to deal with failure at work helps you handle risks and try new ideas because you are confident in your ability to recover from any setback. You develop failure resilience by recognizing and questioning your emotional response to failure. You must also unravel any story you create around past failures. Read more about how to deal with failure at work.
What do rich people do differently? Can anyone become rich if they start thinking as rich people do? According to T. Harv Eker, the author of Secrets of the Millionaire Mind, rich people have a specific attitude towards money and they manage their finances in a particular way. The more you think like a rich person, the more you’ll improve your money mindset that will, in turn, help you improve your state of finances. In this article, we’ll explore how developing a rich mindset leads to wealth and some strategies to help you adopt and cultivate a wealthy attitude that
What are the main reasons why new products fail? Does it mean that it’s a bad product? What could the creators have done differently? In his book Inspired: How to Create Tech Products Customers Love, Marty Cagan says that many new products tend to fail when they’re introduced in the market. However, this is often due to the product development process and not because of the product itself. Here are the top reasons why new products fail and how to avoid the common pitfalls.
Do you often solve problems as part of your job? Why is it important for a company to have a standard problem-solving roadmap for employees to follow? Problem-solving is a part of everyone’s job, no matter the role. Hence, it’s important to come up with a problem-solving process and ensure every employee knows it like the back of their hand. Here are six steps to effective problem solving in the workplace.
Do nonprofits need a business model? What revenue models are most common amongst nonprofit and social cause organizations? Although nonprofit and social causes organizations do not seek to make profits in the conventional sense, they still need to have a business model to plan how they will meet their objectives and cover their expenses. According to business experts Osterwalder and Pigneur, there are two main nonprofit business models: 1) donor-supported organizations, and 2) organizations that balance profit with social and environmental impact. We’ll discuss both of these concepts below.
Why is it important to foster a culture of trust in the workplace? What is the relationship between team trust and company performance? Trust is integral to human relationships and to leadership. Higher levels of trust in the workplace strongly predict higher organizational performance across a range of markers, including customer loyalty, market share, ethical behavior, and profit growth. In this article, we’ll take a look at what building trust in the workplace entails in practice.
What role does time management play in sales? What are some things you can do to cut back on unnecessary activities that distract you from what matters most—driving sales? The first step to building a high-performing sales operation is effective time management. Implementing a time management system in your sales activities will enable you to extract the most productivity and value from your days. Here are some tips on cut back on unnecessary activities so you could spend that time driving your business’s sales.
Are you struggling to pay off your debt? How do your debt contributions prevent you from spending your money the way you’d like? Prioritizing clearing debt seems like a no-brainer—many of us dream of having a debt-free existence. When you have no more debt, you can enjoy a better lifestyle and start putting money aside (through investments or savings) to ensure you also get to live comfortably in the future. In this article, you’ll learn how to make a plan for clearing your debt so you can start directing your money towards more worthwhile pursuits.