3 Reasons Why You Make Terrible Decisions (And How to Stop)
It is a quirk which makes us value the present opportunity more than a future opportunity. This is known as ‘Present Bias’ in psychology.
Example: If offered a choice between getting $100 now or $150 after a year, we are more likely to take up the money offered right now.
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Our emotions are obsessed with the present moment because it’s difficult to look past our immediate fears and anxieties. And this prevents good decision-making.
The sweet spot in decision-making is to find the short-term failures that enable huge long-term successes to happen in the first place.
Most of us are afraid of messing thing up. But we rarely ask, “Would I regret that failure?” If the answer is “no,” then that is absolutely a risk you should pursue.
Sometimes, the right decision becomes crystal clear when put into these terms.
Most people assume that good decision making is choosing a course of action that leads to the desired outcome.
In reality, decision making is about how you end up with your decision, not what the decision leads to.
Before making a decision, don't just ask the obvious questions like "what are my alternatives?" or "what are the consequences?"
Consider instead these questions:
Asking yourself critical questions forces you to think about what you can't know.
Critical questions direct you to friends, mentors, communities, books, courses, and even podcasts for insights that encourage an outside perspective.