Shortform Books

Black Box Thinking: Review and Book Context

Are you looking for a Black Box Thinking review? Where did Matthew Syed come up with the concept of “black box thinking”? Black Box Thinking talks about how learning drives progress and why some institutions embrace learning from failure while others don’t. The concept of a black box comes from airlines that use black boxes as in-flight recording systems to track, analyze, and learn from. In this Black Box Thinking review, we’ll cover the author, historical background, and critical reception.

How to Get Out of Business Debt: 3 Steps to Freedom

How common is business debt? What are some things you can do to reduce your company’s debt burden? Studies show that 79 percent of all U.S. small and medium companies are in debt, and that 58 percent of all U.S. small and medium companies are over $50,000 in debt. According to Mike Michalowicz, the author of Profit First, pulling out of debt begins with ruthlessly cutting your expenses. Here’s how to get out of business debt in three steps, according to Michalowicz.

The Elon Musk & PayPal Story: Why He Was Removed

What is the Elon Musk PayPal story? What was Elon’s role in the creation of PayPal and why was he forced to leave? The Elon Musk PayPal story began when Musk started a full-service online bank called X.com. The company later merged with its biggest competitor which later became known as PayPal. However, the PayPal executives weren’t too happy with Musk. Continue reading to learn more about the Elon Musk PayPal story.

How to Attract Customers: Marketing 101

What are some things you should consider when deciding on your marketing strategy? Who should you market to? How do you make your product/service appeal to your target customers? Once your business has something of value to offer, the next thing you should focus on is how you can attract attention and appeal to potential customers. According to Kaufman, your best bet is to tailor your marketing approach to people who’ve already expressed an interest in your offer. Here’s how to attract customers who are most likely to buy your product.

Tobacco and Lung Cancer: The Effects of Our Denial

When was the link between tobacco and lung cancer established? Why did it take so long for the public to be convinced? In 1964, a scientific report conclusively showed that smoking cigarettes increases the risk of lung cancer. However, it took about a decade for the public to become convinced—congress fought hard to protect the tobacco industry. Here’s a quick look at the fight against tobacco advertising.

How to Create a Learning Management System

The Millionaire Next Door Formula for Net Worth

Do you know how to create a learning management system? Why would you want to create one? Black Box Thinking argues that learning systems help a workplace to advance while a failure-averse system stunts growth. A learning management system is an organizational system that allows people to learn from their mistakes. Keep reading to learn how to create a learning management system in just four steps.

Implementing the Profit First System: Common Mistakes

What is the Profit First system? How can implementing the Profit First accounting system help you improve your business’s bottom line? The Profit First system is entrepreneur Mike Michalowicz’s solution to replace traditional business accounting. Implemented properly, the Profit First system should lead your business to long-term success. However, Michalowicz notes that there are some common misunderstandings entrepreneurs have about the system, which can lead to mistakes in financial decision-making. In this article, we’ll explain the three most common mistakes entrepreneurs make when using the Profit First system, the misunderstandings that cause them, and ways you can avoid making these

How to Find Your Ideal Small Business Tax Percentage

Do you own a small business? How can you determine your small business tax percentage? In his book Profit First, Mike Michalowicz provides three methods for determining your ideal tax percentage as a small business owner. The tax percentage should not only cover your business taxes but your personal taxes as well. Here’s an overview of the three methods.

What Is the Profit First Method? Definition & Overview

What is the Profit First method? In what way is the Profit First accounting system superior to traditional methods? Mike Michalowicz, a business makeover specialist and entrepreneur, believes that traditional accounting methods often fail in the long term because they prioritize the wrong things. The Profit First method is Michalowicz’s alternative to traditional business accounting. In this article, we’ll explore the main principles of traditional accounting, Michalowicz’s argument for why they don’t work, and the main tenets of his Profit First accounting method.

Benefits of Vertical Integration, According to Elon Musk

What are the benefits of vertical integration? How does Elon Musk use vertical integration to run his businesses? The benefits of vertical integration involve improving costs, existing technologies, and efficiency. Elon Musk always uses vertical integration to effectively run his businesses, but there are cons to vertical integration as well. Keep reading to understand the benefits of vertical integration, according to Elon Musk.