The Endowment Effect Greatly Increases Value of Products
The News: Popsci.com reports on the added worth that humans give to things that they own. Full report.
Why It Matters: The second to last paragraph in this article is gold! "If we name something, we own it." How do you enable customers to name something that you sell? Shoot, if someone can name a star and charge $50.00, you can do the same.
And The SBA Nominee Is...
The News: CNN reports the Obama administration has nominated Karen Mills to lead the SBA. Full report.
Why It Matters: The SBA has struggled for years and if ever there was an opportunity to resurrect it, it's now.
The Boss Harassed By An Employee
The News: CNN Small Business reports on an entrepreneur who hired an harassing employee, and still struggled to fire them. Full report.
Why It Matters: This is an interesting article on the psychology of entrepreneurship and how life experiences influence management style.
Compiled by Mike Michalowicz, Author of The Toilet Paper Entrepreneur
