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How to align stakeholders
Best practices in product management leadership
How to create value together
The WRAP technique for decision making
- Widen your options: challenge yourself to consider alternatives.
- Reality-test your assumptions: run small experiments so you can know rather than predict which decision will work best for you.
- Attain distance before deciding with the try the 10/10/10 approach: How would you feel about this decision 10 minutes from now, 10 months from now, and 10 years from now?
- Prepare to be wrong: things could always go wrong. Prepare for it in advance.
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Pros-and-cons lists are flawed
There are a few biases they don't address:
- Narrow framing: the tendency to view an option as your only option.
- Confirmation bias: our tendency to gather the information that supports our preferred option.
- Short-term emotion: our tendency to have our...
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Actively managing delay
- Find out how much time you have to make the decision.
- Wait as long as possible to choose. By giving yourself extra time, you have more opportunities to explore your options and gain valuable insight.
This works best if you're a novice, as an expert generally won’t need to...
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The brain when we make decisions
The 2 systems of the brain that wok during decision making:
- System 1 is automatic and quick (like "something feeling off").
- System 2 is deliberate and slow (like an algorithm).
At times, these systems are at odds with each other, but research shows it's always best ...
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Deciding how to decide
Take into considerations these things:
- Intuition is best used by experts, not novices.
- Algorithms are better at decisions than the human brain.
- Take your time (but not too much of it).
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Avoid making bad snap decisions
- Successful decision-making relies on a balance between deliberate and intuitive thinking.
- Opt for less information; stick to only what is essential. We may feel more confident when doing a lot of research, but this could lead to indecision and analysis paralysis.
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The 37%
Mathematics dictates that you should take 37% of the time or options you have to simply look and after that, you should commit to the first option that is better than everything you’ve seen so far.
That’s the point at which you have the highest chance—in a display of mathematical sym...
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Making snap judgments
Snap judgments are most accurate if these things are present: experience and expertise. In other words, we must train our intuition.
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CURATED FROM
CURATED BY
A lot of problems would disappear if we talked to each other more than talking about each other.
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The WRAP Model
It describes the process that “wraps” around your usual way of making decisions, helping to protect you from some of the villains and biases related to decision making:
- Widen your options.
- Reality-test your assumptions.
- A
Defeating Decision-Making Villains
- Counter narrow framing by widening your options. Expand your set of choices.
- Confirmation bias leads you to gather self-serving information. Analyze and test your assumptions to overcome the bias.
- Short-term emotion will tempt you to make the wrong choice. So distance yoursel...
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