Perfectly Confident - Deepstash
Perfectly Confident

instructor Hood's Key Ideas from Perfectly Confident
by Don A. Moore

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9 ideas

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Perfectly Confident

Overconfidence and underconfidence are common and problematic. To calibrate them, weigh seven factors.Ā 

  1. First:Ā Consider how you might be wrong.
  2. Second: Assess the probability that youā€™re right.
  3. Third: Calculate the expected value of an outcome.
  4. Fourth: Define and measure performance.
  5. Fifth: Consider what could go wrong.
  6. Sixth: Tap othersā€™ perspectives.
  7. Seventh: Seek and believe the truth.

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463 reads

Overconfidence and underconfidence are common and problematic. To calibrate them, weigh seven factors.

ā€œWell-calibrated confidence is the map that can guide your life choices about what to undertake.ā€

25

400 reads

First: Consider how you might be wrong.

ā€œHonest, constructive feedback is so valuable that thereā€™s only one way to respond: ā€˜Thank youā€™.Ā ā€ (Rich Lyons,Ā former dean of the Haas School of Business, UC Berkeley)

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360 reads

Second: Assess the probability that youā€™re right.

To improve your predictions, ask other people whether they think something will happen and have them estimate the odds that theyā€™reĀ 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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254 reads

Third: Calculate the expected value of an outcome.

ā€œBeing able to explain the basis for your confident beliefs will make them more persuasive to others.ā€

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244 reads

Fourth: Define and measure performance.

ā€œAlthough 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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224 reads

Fifth: Consider what could go wrong.

ā€œWhen a company is formulating strategy, it is useful to consider critiques, problemsĀ and likely reasons for failure.ā€

25

211 reads

Sixth: Tap othersā€™ perspectives.

ā€œOthersā€™ disagreement isā€¦a gift of great value, but it is not always easy to appreciate it.ā€

24

198 reads

Seventh: Seek and believe the truth.

ā€œHonestly communicating the real uncertainty about uncertain things is a viable strategy for aspiring leaders.ā€

25

221 reads

IDEAS CURATED BY

sliceofhood

Industrial Mastery, Mentor, Light Worker, Nutritionist, Gymrat

CURATOR'S NOTE

How to Calibrate Your Decisions Wisely

ā€œ

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