The Decision Matrix: How to Prioritize What Matters
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The decisions we spend the most time on are rarely the most important ones.
Inconsequential decisions are the perfect training ground to develop judgment.
In reality, reversible and consequential decisions are the perfect decisions to run experiments and gather information.
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Before making a decision, considers how you’ll feel about this decision in 10 minutes, 10 months, and 10 years.
It’s easy to make short-term decisions that may be beneficial 10 minutes...
In anything we do, there’s always ~20% of activities that will deliver 80% of our desired results.
It’s easy to be wrapped up in ‘busy’ work without ever getting anything done. Pareto’s Law is a useful mental model to be more effective, rather than just be efficient.
Work expands so as to fill the time available for its completion. So try placing artificial time limitations.
If we’re given three hours to complete a task that normally would take an hour, we’ll find a way to fill those three hours. However, when we’re down to the final thirty minutes, we’re suddenly feeling the pressure to get things done.
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Stop saying that you don't have enough time to complete your commitments.
Admit that you need to get better at managing your time and start searching and trying techniques that will help you ...
It's important to have an idea of what your daily priorities are and tasks you need to complete, preferably the night before.
Also, make sure you prepare in the evening the outfit you're going to wear and the meals for the following day. Doing this will save time in the morning, and reduce decision fatigue.
Take all of your tasks and place them into four quadrants:
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"By far the most significant learning experience in adulthood involves critical self-reflection - reassessin..."
You need to have absolute clarity over 3 fundamental facts:
A very simple, but crucial principle: if you don’t know where you are, you can never reach the place where you want to be.
Making an alternative choice is hard because we are neurologically wired to favor the default solution, even if it brings suboptimal results.
As the complexity of a decision increases, so does our tendency to stick with the answer we know.
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Deciding is too much effort so we’re likely to just stick with the default or safer option if it’s already been chosen for us.
When we get offered too many choices, the same...
This is when serotonin is at it’s natural high, which helps to calm our brain. Thus, we feel less risk averse and so we can face risks and make harder choices.
If we’re feeling hunger, thirst or sexual desire, that can actually spill over into the decision areas of our brains, making us feel more desire for big rewards when we make choices.
This can lead us to make higher-risk choices and to want for more.
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Also known as “bike-shedding" the Law of Triviality states that the amount of time spent discussing an issue in an organization is inversely proportioned to its actual importance.
The metaphor is as follows: Imagine a financial committee meeting to discuss a three-point agenda.
The committee normally ends up running through the nuclear power plant proposal in little time because it's too advanced to really get into it.
The bike shed proposal takes much longer as everyone knows what it is and has an opinion that they want to air about it.
As the committee moves on to the coffee budget, suddenly everyone is an expert. _Before anyone realizes, they spend longer discussing the £21 coffee budget than the power plant and the bike shed combined.
The simpler a topic, the more people will have an opinion about it. However, when we mostly understand a topic, we feel compelled to say something, lest we look foolish.
With any topic, we should seek out the inputs from those who have done the work to have an opinion. If we want to contribute, it should be something valuable that will improve the outcome of the decision.
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90% of your daily decisions happen automatically, many shaped by your environment. Thus, most decisions are a habit, not a deliberate choice.
To make smarter choices, design smarter...
Design your life like a choice architect:
“First, never underestimate the power of inertia. Second, that power can be harnessed.”
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Decision-making works like a muscle: as you use it over the course of the day, it gets too exhausted to function effectively.
One way to avoid this is to eliminate smaller decisions by t...
Save small decisions for after work (when decision fatigue kicks in) and to tackle complex decisions in the morning, when your mind is fresh.
A similar strategy is to do some of the smaller things the night before to get a head start on the next day.
...and you'll able to look at decisions as objectively and rationally as possible.
Strong decision-makers know that a bad mood can make them lash out or stray from their moral compass just as easily as a good mood can make them overconfident and impulsive.
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