Decision making remains a core life skill that benefits you and those who learn from you for years to come. In this week’s episode, McKay breaks down the importance of decision making and teaches listeners how to become better decision makers themselves.
McKay begins by citing 9/11 as an incident that highlights the critical importance of decision making. He explains how rapid decisions had to be made on that day and how this impacted the USA. McKay also delves into the science behind decision making and explains how the 37% rule can help people make decisions. He advises listeners to ignore the rumors on social media and always research to make knowledgeable decisions. Finally, McKay explains the different biases that affect our decision making and how to counter them.
The Finer Details of This Episode:
The story of 9/11: making difficult decisions The science of decision making What is the 37% rule? How does knowledge impact decision making? The dangers of social media based decision making What biases affect our decisions?
“Some of the hardest decisions are hard because we have imperfect information, and there's uncertainty and risk associated with making those decisions.”
“Often, the impact of a decision lasts long after the decision is made.”
“We've all fallen prey to analysis paralysis. And we've all likely lost out on something promising because it took too long for us to decide.”
“There is a statistically proven answer as to how long or how many options you should consider before making this type of decision.”
“Science tells us that people who have a broad knowledge in the subject area related to the decision have a higher likelihood of deciding better. So know your circumstances, and be knowledgeable about a lot of things having to do with the subject of your decision.”
“Learn all you can know while you can. If you're in business, learn the science of it. Understand all you can about how to bring customers to your business and what type of person to team up with and how to help them move faster and more productively.”
“Know your space. There are so many reliable books and people who can help you get educated.”
“It is impossible to be both ignorant and a good decision maker.”
“If you're unwilling to take time to read and search and think critically, you are left to make decisions based on poor data, particularly in today's day and age in which anyone can post anything online.”
“Don't make permanent decisions out of temporary emotion.”
Open Your Eyes with McKay Christensen