John C. Mowen, author of “Judgment Calls: High Stakes Decisions in a Risky World” has written an excellent book on the factors that go into making decisions. In each chapter we get to review high stake decisions that were made in the past and the consequences of these decisions. Some of the decisions achieved positive results while others ended as complete failures. In both positive and negative outcomes, we get to see what worked and what didn’t. Learning from others mistakes is the best learning opportunity next to experiencing it. One particular chapter offered some important principles on making choices. Some highlights include:



1. Think realistically when making the decision; act confidently when implementing the decision.
2. In the zone of ambiguity, select the alternative that would result in the least negative outcome, should you happen to be wrong.
3. Know your expectations and balance their biasing effects by developing arguments against their occurrence.
4. Avoid surprises by identifying all assumptions and checking their veracity.

There is always the double edge sword when making decisions and that is analysis paralysis. It’s important to accumulate as much information to support a difficult decision, but don’t let the uncertainty prevent you from making the decision. Sometimes you have to make a choice, stick with it, and adjust from the feedback of your decision. It’s nice to learn from others mistakes, but sometimes you just have to learn from your own mistakes!

Check out Wikipedia’s whole section on decision theory for more information about decision making!

Rajesh Setty, author of “Life Beyond Code“, which was reviewed here on BizBookTalk has authored a new e-book, “When You Can’t Earn An MBA: Thoughts On Getting Ahead Without An MBA“. Going for a MBA takes both time and money, and for some, it’s just not feasible. Don’t worry though, many get away without obtaining one and Rajesh offers some insights on how to do so.

Get Rajesh’s ebook here (opens to PDF)

Check out Rajesh’s site for his blog, book information, and other e-books.

“The Power of Charm: How to Win Anyone Over In Any Situation”, by Brian Tracy and Ron Arden can be read in one afternoon, but its lessons can last a lifetime. If you aren’t satisfied with your communication skills, this book is a good primer on areas where you may need tweaking.



1. Acceptance – Always have a ‘warming’ sense of acceptance for the other person. Not only will this put them at ease, but it will draw them closer to you. There is the tendency to gravitate towards those who we feel accepted by.
2. Appreciation – This is a characteristic which everyone could improve on. Out of the five ways to be charming I think this holds the most weight. If you can get past your ego on this one and show appreciation you are halfway there to becoming a more charming individual
3. Approval – At the heart of everyone’s desire in life is a sense of approval. You’ve been seeking it since the day you were born. Show approval, give praise.
4. Admiration – Giving a genuine, sincere compliment once a day is good practice if you aren’t doing it already.
5. Attention – Listen to them with 100% undivided attention. Focus exclusively on the person speaking and what they are saying. People will notice.

Brain Tracy is huge in the self-development arena. Some other best sellers of his are “Eat that Frog!” and “The Psychology of Selling“.

If there is one activity Americans are notorious for, it is their consumption. By consumption, I’m referring to the activity of spending money that is earned in wages. The United States had a savings rate of negative 0.7% in January of this year. Negative! That means we as a country spent more than we made in earnings. It doesn’t look like the credit card industry is in trouble any time soon. While it can be argued how the savings rate figure is calculated (some say it doesn’t compensate for other areas of income – e.g. capital gains), it still is a fact that America has one of the lowest savings rates in the world, and it has continually been declining for the past 40 years.

America’s Savings Rate



(click to see full view)

Advertisements are constantly bombarding us with the message that we have voids in our lives. There is no need to worry because we have companies that are constantly producing products that fill these voids. How has our society fallen victim to this ploy? Why do we always have to keep up our spending? When is enough, enough?

What if you didn’t spend anything for one year?

What!?!? A whole year??

Yes, a whole year. That is exactly what Judith Levine did in 2004. With the exception of food and necessities, Judith and her Husband ceased all spending. She chronicled the roller coaster ride of ‘non-consuming’ in her book “Not Buying It: My Year Without Shopping”. We get an inside view of the trade-offs that are involved when deciding not to spend. This inside view enlightens us with some valuable lessons to ponder. One piece of advice that resonates with me is thinking twice about handing over your cash; be more mindful of your purchases. It seems like a simple and rather obvious principle, but very few of us observe this practice. By being mindful (although she was forced to not spend) Judith saved $8,000 in her year of non-spending. For Judith and her husband Paul, they experienced the first whole year without arguing about money, which is a cause for many failed marriages nowadays.

Although this book brings to light bigger issues (the growing gap between the poor and wealthy, exploitation of individuals in labor markets, real wages not growing for lower & middle class) which need their own discussion, “Not Buying It” shows that you can survive without the mass consumption our society promotes, and still be a patriotic citizen!

Sometimes it’s the failures and mistakes of others where you can learn the biggest lesson. Bob Pritchard, CEO of Logos Bible Software has made his fair share of mistakes in his 14 year career as an entrepreneur. In his book, “First Someone Today”, Pritchard not only explains when to fire someone, he includes advice about other subjects which are important to entrepreneurs: cutting costs, understanding the vital role cash plays in your business’s success, the importance of understanding contracts, and the importance of having good systems estabished in your business.

Some key ideas taken away from this book are:

• Visit everyone connected to your business (customers, suppliers, partnerscompetitors) – These visits will liken your chance of positive things happening for your business. A visit to a customer may uncover room for improvement to your product or service which could lead to greater sales / business. A visit to a supplier could strengthen your relationship which could result in better service or better pricing on supplies.
• Read (a lot!) – Reading helps you stay current with trends and the latest happenings in your industry. Don’t limit yourself to your specific industry because there are many ways to incorporate new ideas from other industries into your business. Academic journals are especially helpful.
• Make decisions swiftly – Don’t over analyze decisions. Make them and live with them. In the words of the ancients, “one should make his decisions within the space of seven breaths.”

Check out the Fire Someone Today website which includes Bob’s blog and other reviews of the book!

Have you ever had the feeling that someone was lying to you? I’m sure
you have. I usually get that feeling when I’m at the car dealership or
when people post their comments about my picture on www.hotornot.com.
If only there were ways to elicit the truth out of people and catch
them in their lies! If only there were former military interrogators
who would write books about this very topic! But there is, I’m not
lying to you!

Consider your days of being lied to over. ‘How to Spot a Liar’ by Gregory Hartley and Maryann Karinch have written a book to give you the upper hand against the liars of the world. Gregory, who was a military interrogator for 16 years, used the very techniques he discusses in the book. We learn the various reasons why people don’t tell the truth, the tools to detect lies and obtain the truth, and the various ways to apply these techniques in your own life.

After reading the book, you’ll be more confident in your ability to extract the truth from your daily interaction with others. Whether it’s a co-worker telling you they don’t know where your mouse pad went, or the mailman saying he never saw the package from Omaha Steaks come in, you’ll be better prepared to spot lies from now on!