Tradeoffs: The Currency of Decision Making
Time is a Tradeoff
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Striving for Everything
A tradeoff is inevitable in almost every decision we take, as we usually forego some opportunity or benefit in our choices.
Many people strive for everything and believe there are no tradeoffs.
Focussing on less can get you something but focusing on everything may get you nothing.
We seem to think that the people around us have everything in life.
Tradeoffs in others take time to become apparent. Everyone lets go of something, making a sacrifice, to be able to focus, investing time and energy in what is important to them.
Balancing Everything is Impossible
It becomes impossibly hard to completely fine-tune and balance your work, family, health, relationships, friends and hobbies.
We may have to let go of one of the areas to be able to fulfill the others.
The necessity of making trade-offs alters how we feel about the decisions we face; more important, it affects the level of satisfaction we experience from the decisions we ultimately make.
Time is a Tradeoff
Focus your Energy on Less
SIMILAR ARTICLES & IDEAS:
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.
Not Making Good Decisions
The Four Villains of Decision Making
Defeating Decision-Making Villains
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...
Best decision making happens in the morning
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.
The part our bodies play in decision-making
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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