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How to make rational decisions
The role of biases in decision-making
The impact of social norms on decision-making
You need to identify what matters the most to you to put a strategy together that fits your level of commitment and vision.
You can break down Drive into four categories:
You can have more than one type driving you. However, a driver can stop to work in your favor.
People often feel lost after a big deadline because their driver is suddenly gone.
To solve this, you need to dive deeper into your Purpose.
Define your purpose by asking:
Rather than competing in games where you’re an underdog, find unexplored new markets in which you can win.
Examine both your unique skill set and the competitive landscape to find your “Blue Ocean”.
Process the competitive landscape by asking:
Don’t complain that the game is rigged. Instead, find a game in which you have a differential advantage.
Before you act on a problem, you must first “process” what’s happening. The key to success at all levels of business is to know how to process issues:
Optimal processing is:
But to be great at processing problems, you need to take responsibility whenever you can.
Instead of reacting emotionally to problems, use the Investment Time Return (ITR) formula to reach an objective conclusion.
Investment Time Return formula:
Make a list of the blind spots or things that could go wrong with each decision. If you only think about what could go right, you will overlook the downside.
Problems might be different, but the way you process them should not.
You need to give structure to your decision-making.
The ability to solve problems well is the ability to take a complex issue you’re facing and break it down into a step-by-step formula that helps you identify the root of the problem.
Three parts to Solve for X:
Working effectively with others will mean the difference between enjoying the process and desperately seeking a day job while hiding under your desk.
Instead of being selfish and looking to see what you could take from others, focus on what you could give them.
You need to define:
Think about who you need to help you to achieve your long-term objectives. Take care of them, and they’ll back you up.
The less your business depends on you, the more valuable it is.
As your company grows, you will constantly replace yourself with others.
Alongside the growth, you also need to create a contingency plan to replace any important position.
If you have a plan in place for how to replace every key member of your team, you can handle an unexpected exit without missing a beat. Plus you’ll sleep better at night, knowing your next several moves are already planned out.
List your tasks and skills. Make a list of all your tasks and skills and determine which ones you are good and bad at.
Identify who’s seasonal and who’s not. Identify who is there to fill a six-year role and who a six-month role
Know the different languages spoken by your sales, support, technical, and executive teams.
Identify who can maintain the company culture.
Know your company’s practices and procedures. Write down each department’s practices and procedures to help transfer skills
Develop leaders to help spread the right mindset
Ways you give and receive love into 5 categories:
Show people that you take the time and care needed to understand what they want.
Seven-step system to compress time frames and increase speed:
A simple rule of business is that in order to get, you have to give. Most amateurs are experts at making demands. What they fail to do is offer value first. When you put yourself into the other party’s shoes and lead with how they will win and make money, it will be natural for them to give you what you want.
Psychotherapist for dance movement
Your Next Five Moves explores how you can improve your business and your life by learning how to strategize.
View all Your Next Five Moves: Master the Art of Business Strategy Book Summaries
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