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Decision making is critical for entrepreneurs. Every day, you have to set out on a course of action, choose tactics, evaluate results, and otherwise choose from arrays of options.
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Most decision-making errors boil down to:
If you already have an opinion about something before you've even tried to figure it out, chances are you'll over-value information that confirms that opinion.
Think about what kinds of information you would expect to find to support alternative outcomes.
The “fundamental attribution error,” is when we excuse our own mistakes but blame other people for theirs.
Give other people the chance to explain themselves before judging their behavior.
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Being aware of your own biases doesn't mean you will be free of them. You need a system that will help prevent your proclivities from taking control.
It wasn't an individual that got people to the moon. It was all of NASA.
There should be recognition of how many people really should be involved and the need for mechanisms to deliver smarter decisions.
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... through everything you do. That's the power of compounding. If you get 1% better at understanding how the world works, how human behavior works, how economic systems function, and understanding your own brain — that 1% improvement impacts everything you do.
The best kind of knowledge is not ephemeral junk , that will be useless in a few years, but the core pillars of human knowledge and the major academic disciplines. That knowledge changes very slowly over time and it’s a core foundation that you can build upon and grow from.
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