10: Decision-Making: FYCO (Figure Your Crap Out-isode)

Published: Nov. 2, 2016, 8 a.m.

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\\u201cThe most difficult thing is the decision to act, the rest is merely tenacity.\\u201d \\xa0- Amelia Earhart
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Definition
  • Decision-making is..".In psychology, decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.\\u201d (Wikipedia).
  • Decision-making is either...
    • 1. The gut-level response we have to choose one path over another (System1).
    • 2. The active, critical-thinking process of applying wisdom to several options in order to find the best one (System 2)
Research
  • Start with WHY
    • What\\u2019s the purpose?
    • Famous Decisions:
      1. JFK\\u2019s team deciding to have the top down on his car that he rode through the streets in - which led to his assassination
      2. Rosa Parks deciding toast down on a bus and jumpstarting the civil rights revolution
      3. MLK\\u2019s speech - deciding to go off his notes and talk about \\u201cI have a dream\\u201d\\xa0
  • The psychology of decision making
    • Thinking fast and slow by Daniel Kahneman. System 1 vs System 2 thinking.
    • We make decisions based on what we perceive as best and that is either an active perception (kaneman) or passive. Actively being aware of our biases is crucial
  • How we go about actively making choices
    • Get active
      • Don\'t settle for status quo...which will be a conglomerate of how your family and friends make decisions. Get active, stop apathy. Own your choices.
    • Determine your defaults
    • Determine other influences\\xa0
      • Biases like advertisements, confirmation bias, etc.
  • (Re)Designing our Defaults
    • We have to redesign our lives so that we make better decisions by default
    • With bigger decisions, we need a framework for judging that becomes our default. We have to measure the options we have by the truth and our sense of self and calling.
  • Defining our Process to making a decision
    • Decision-Making Framework (From TRG blog posted last week)
      • Remove self from individual moment and look at big picture
      • Eliminate emotion as much as possible (and replace with rational logic)
      • Seek counsel, but don\\u2019t give up the decision-making responsibilities
        1. Must seek counsel from the right people\\xa0- experts, and those who have your best interests in mind
        2. The best advisers will never make the decision for you
      • Trust your gut! (Arguably the hardest part)
        1. If you have wrestled with the decision for long enough and still don\\u2019t have a clear answer, you will have a gut reaction (usually from early on in the process) that, if well-informed, will almost always be the right decision.
        2. "The most difficult thing is the decision to act, the rest is merely tenacity." \\u2013AMELIA EARHART
      • Never Look Back!
        1. The only place to move towards after making a decision is forward!
        2. http://www.thaneringlergolf.com/blog/2016/10/18/the-summer-of-2016

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For all the resources and a full breakdown of the episode, check out the show-notes here: \\xa0www.theupandcomersshow.com/episodes/fyco

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