495: Setting up scale: How to avoid voltage drop (with John A. List)

495: Setting up scale: How to avoid voltage drop (with John A. List)

Welcome to an episode with a highly regarded economist and best-selling author, John A. List. Get John's book here: https://amzn.to/3BDlHzj

In this episode, John defined scaling – an overused yet often confused word in the startup world today – and elaborated the term. He also spoke about the voltage effect and how it relates to scaling. The discussion revolved around the five vital signs that every scalable idea must possess to avoid voltage drops and gave numerous realistic examples to help us visualize each sign. John also shared the top things that we must keep in mind when making decisions related to scaling.

Professor John A. List is the Kenneth C. Griffin Distinguished Service Professor in Economics at the University of Chicago. His research focuses on combining field experiments with economic theory to deepen our understanding of the economic science.

In the early 1990s, List pioneered field experiments as a methodology for testing behavioral theories and learning about behavioral principles that are shared across different domains. He co-authored the international best seller, The Why Axis, in 2013.

List was elected a Member of the American Academy of Arts and Sciences in 2011, and a Fellow of the Econometric Society in 2015. List received the 2010 Kenneth Galbraith Award, the 2008 Arrow Prize for Senior Economists for his research in behavioral economics in the field, and was the 2012 Yrjo Jahnsson Lecture Prize recipient. He is a current Editor of the Journal of Political Economy.

Get John's book here:

The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale. John A. List: https://amzn.to/3BDlHzj

Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

Avsnitt(830)

833: Using Storytelling in Cases (Case Interview & Management Consulting classics)

833: Using Storytelling in Cases (Case Interview & Management Consulting classics)

Storytelling is a very powerful technique to ensure someone remembers you after an interview. In fact, even when we screen people at Firmsconsulting today, we use this technique I applied as a partner...

22 Dec 202523min

832: Five phrases to avoid (Case Interview & Management Consulting classics)

832: Five phrases to avoid (Case Interview & Management Consulting classics)

Communication and image in a case interview is governed by both what you say and how you say. It is true that how you say something tends to carry more weight. However, in some case, certain phrases s...

17 Dec 202515min

831: How to Hold Networking Conversations (Case Interview & Management Consulting classics)

831: How to Hold Networking Conversations (Case Interview & Management Consulting classics)

Networking calls/coffee chats are tricky. You should not be following the advice found for general recruitment. We insist our clients network with partners so most of the advice we provide is for netw...

15 Dec 20259min

830: Speed is the wrong focus area (Case Interview & Management Consulting classics)

830: Speed is the wrong focus area (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss speed. Far too many candidates focus on being faster. That is another myth.   Speed is an outcome of h...

3 Dec 20258min

829: Case length and details (Case Interview & Management Consulting classics)

829: Case length and details (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we dtalk about case length and details.    When we ask candidates for more details in their resume, fit responses...

1 Dec 20256min

828: Career rotation vs. progression (Case Interview & Management Consulting classics)

828: Career rotation vs. progression (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we speak about career rotation vs. progression.   Candidates always want to show improvement on their resumes in ...

26 Nov 20255min

827: Estimation = Brainstorming = Structures (Case Interview & Management Consulting classics)

827: Estimation = Brainstorming = Structures (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we speak about the three core technical concepts around cases.   We always teach clients estimation technique fir...

24 Nov 20256min

826: Leadership versus teamwork answers (Case Interview & Management Consulting classics)

826: Leadership versus teamwork answers (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we speak about leadership versus teamwork answers. If you are thinking through responses to leadership and team...

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