Scott Keller

The best CEOs don’t just tell people, “This is where we’re going,” and expect them to follow. They understand the underlying psychology at play. For example, researchers have done experiments where they give lottery tickets to a group and half get a ticket with an assigned number and the other half gets a blank piece of paper where they write their own number. Then, before pulling the winning ticket, they give the participants a chance to sell the tickets back to them. People expect those who wrote their own numbers to be more attached to their tickets even though rationally they get no advantage, but many are surprised to hear that those participants expected at least five times more money for their tickets than those with assigned numbers.

The implication is that giving people an opportunity to have input is important. Many CEOs find that when they ask their teams for feedback on the vision, that builds ownership.

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