Jeff Bezos explains the perfect way to make risky business decisions
"Most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you're probably being slow."
SIMILAR ARTICLES & IDEAS:
90% of your daily decisions happen automatically, many shaped by your environment. Thus, most decisions are a habit, not a deliberate choice.
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Design your life like a choice architect:
“First, never underestimate the power of inertia. Second, that power can be harnessed.”
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Before jumping to a conclusion, think about the long-term consequences of your decision.
We may respect those able to fling themselves into a hard problem and make a quick choice with seemingly little thought, but making a meaningful decision needs to be done with care for the long-term effects.
It’s important to be aware of what state of mind you’re in before tackling a hard choice.
Decision fatigue happens when the mental energy required to weigh the tradeoffs of our decision becomes too much for us to handle.
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 ...
The 2 systems of the brain that wok during decision making:
At times, these systems are at odds with each other, but research shows it's always best to trust an algorithm than your own gut.
There are a few biases they don't address: