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Let's talk about decision making! We all make big decisions all the time. And we all make wrong choices! These are the frameworks I use to make better decisions ...Permalink On twitter.com
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1. The odds are against you There are always more wrong options than right ones. And everybody makes wrong decisions all the time. Accept that.On twitter.com
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2. Ignore luck You bough a car for $25k and your neighbor got the same car for $15k through some lucky coincidence? Ignore it. It was luck. You can't learn luck. Concentrate on what you can learn and reproduce.Permalink On twitter.com
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3. You always overpay the first time Decisions are based on information. You'll often make decisions in new areas: rent a flat, buy a house, buy a car, hire a contractor, ... The first time you'll overpay ... most likely. Just accept it as a learning experience.Permalink On twitter.com
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4. Get your reps in Just like lifting, the more you do it, the easier it gets. If you want to understand the housing market, move often. By the time you want to commit long-term you'll know what you want and what it will likely cost.Permalink On twitter.com
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5. Take a moment to reflect It's easy to regret wrong decisions. Water under the bridge. Now take a moment and reflect with hindsight. Then make a decision for next time. "I made this choice due to FOMO. Next time I will ignore FOMO"Permalink On twitter.com
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6. Better wrong then none You can learn from wrong choices, you can't learn from inaction. Relish every chance to make decisions. If nothing else, use them as an experiment. At first it sucks, but soon you'll become better.Permalink On twitter.com
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To summarize: 1. The odds are against you 2. Ignore luck 3. You always overpay the first time 4. Get your reps in 5. Take a moment to reflect 6. Better wrong then none I try to live by this. Hope it'll help you too.Permalink On twitter.com