TagLeadership

5 Tips for Better Decision Making from a Professional Poker Player

By Sean P. Murray
April 19, 2018
6 Min read
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Every decision we make is a bet. A bet is essentially an investment in a future outcome that is uncertain. That investment could be money, time, attention or some other resource. When we think of decisions as bets, we are more likely to think probabilistically, adopt an open-mind, consider diverse options and learn from our mistakes. If every decision is a bet, then we can learn to become better decision makers by studying the ultimate betting game: poker. People often compare life to chess...

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Ulysses S. Grant: 12 Leadership Lessons

By Sean P. Murray
February 20, 2018
11 Min read
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1. Find a Profession Where Your Passion Meets Your Purpose. The same man who decisively and strategically lead over a million soldiers through a brutal Civil War, was unable to manage his brother’s leather goods store in Galena, IL in civilian life. Context matters. Grant was not just twice as successful or three times as successful as a military leader compared to a business leader, he was a thousand times more successful. Finding the profession most suitable to your talents and most...

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If Business is War, Jeff Bezos is a lot like Ulysses S. Grant

By Sean P. Murray
February 2, 2018
3 Min read
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In 1861, Ulysses S. Grant was managing his brother’s leather goods store in Galena, IL, having retired from the military seven years prior. When the Civil War broke out later that year, he reenlisted and quickly rose through the ranks. The officers Grant replaced on his meteoric rise to Commanding General of the Union Army shared a common trait: they were indecisive. While others fretted and stalled, Grant would study the situation, make the best possible decision and move on. In an...

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The 8 Best CEOs from the Past 50 Years

By Sean P. Murray
January 22, 2018
5 Min read
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In the 2012 Berkshire Hathaway Letter to Shareholders, Warren Buffett recommended the book The Outsiders, by William Thorndike, calling it “an outstanding book about CEOs who excelled at capital allocation.” It tells the story of eight unconventional CEOs who managed to outperform the S&P 500 by over twenty times. How did they do it? It wasn’t through charismatic leadership – they were not cheerleaders or marketers. In fact, they rarely landed on the front page of a...

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Setting A Goal this Year? Make it a Process Goal

By Sean P. Murray
January 15, 2018
4 Min read
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Source: Reference-Dependent Preferences: Evidence from Marathon Runners It is the distribution of marathon finishing times collected from over 9 million runners. You might expect to see a smooth bell curve centered around the average time, but that is not what is depicted here. The general outline of the bell curve is evident, but it is punctuated with discrete spikes. At each major time interval, there is a peak of finishers followed by a lull. Anyone who has ever run a road race knows exactly...

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To Improve Decision Making, Focus on the Process not the Outcome

By Sean P. Murray
January 4, 2018
4 Min read
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Imagine walking through a Las Vegas casino and observing the following: A patron at the Blackjack table is dealt a 17. The gambler decides to take a hit. The dealer turns over a 4. The player wins. The dealer says to the gambler, “good decision.” But was it? Well, in this particular case the outcome was positive, but we know there was a considerable amount of luck involved. In Blackjack, when a player hits on 17 there is a much greater chance of busting (losing) than there is of...

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Management vs. Leadership

By Sean P. Murray
October 6, 2017
4 Min read
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I’m often asked, “what is the difference between management and leadership?”  The best answer I’ve ever heard, and the one I usually give is: Management is about doing things right.  Leadership is about doing the right thing. Like any great aphorism, it is short and memorable.  It does a decent job communicating the big concept, but it can be a little dissatisfying.  The natural follow up question is always, “yes, but how does it really work in practice?”...

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When Your Wave Comes, Ride It

By Sean P. Murray
September 15, 2017
5 Min read
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Laird Hamilton surfing Teahupoo on August 17, 2000.  Photo: Tim McKenna   On August 17, 2000, Laird Hamilton was surfing a famous break off Tahiti called Teahupoo. The break at Teahupoo already had a fierce reputation, but on this day, Laird and his friend Darrick Doerner saw a wave approaching unlike anything they had ever seen before or since.  Doerner was on a jet ski, towing Laird into the wave when the magnitude of the wave hit him: “I towed him onto this wave and it was to the...

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Deep, Long-Lasting, Meaningful Work

By Sean P. Murray
September 6, 2017
5 Min read
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How do some athletes and artists stay dedicated to their craft over many years, even decades? And throughout that time, how do they continue to improve, and turn in game-changing performances and create break-through works of art? In their book, Peak Performance, Brad Stulberg and Steve Magness explore how some individuals are able to find another gear, and develop the focus and dedication to achieve mastery. What is their secret? Well, it’s not really a secret because almost everyone who...

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The Ancient Wisdom of Teams

By Sean P. Murray
September 5, 2017
5 Min read
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For a team to be successful, team members must put the interests of the team above their own. It’s necessary for team members, at times, to sacrifice their ego, play a supporting role, and in some deep sense, care more for the success of the team than for individual achievement and glory. These are timeless truths with roots extending far back to the very dawn of human culture. Cooperation has been reinforced, generation after generation, through the evolution of human culture. Agriculture...

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