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Overconfidence and underconfidence are common and problematic. To calibrate them, weigh seven factors.Ā
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471 reads
āWell-calibrated confidence is the map that can guide your life choices about what to undertake.ā
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āHonest, constructive feedback is so valuable that thereās only one way to respond: āThank youā.Ā ā (Rich Lyons,Ā former dean of the Haas School of Business, UC Berkeley)
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To improve your predictions, ask other people whether they think something will happen and have them estimate the odds that theyāreĀ right. This works best with people trained how to see and measure uncertainty.Ā Thinking through the likelihood of various outcomes and considering what happened in the pastĀ canĀ help you grasp the range of possibilities, make better forecasts and thus make better decisions.
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āBeing able to explain the basis for your confident beliefs will make them more persuasive to others.ā
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āAlthough it can be painful to admit tļ»æhat your critics are right, confronting our imperfections opens the way to improvement.ā
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āWhen a company is formulating strategy, it is useful to consider critiques, problemsĀ and likely reasons for failure.ā
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āOthersā disagreement isā¦a gift of great value, but it is not always easy to appreciate it.ā
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āHonestly communicating the real uncertainty about uncertain things is a viable strategy for aspiring leaders.ā
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IDEAS CURATED BY
CURATOR'S NOTE
How to Calibrate Your Decisions Wisely
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