The 51% Rule (and 3 More Strategies to Think Like a Millionaire)
Feb 8, 2024
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In this lively discussion, Steven Bartlett, a dynamic entrepreneur and the host of Europe's top podcast, shares his journey from university dropout to leading a $600 million company. He introduces the '51% Rule' for decision-making, emphasizing how it can propel you toward success. Steven also explores the contrast between Type 1 and Type 2 decisions, urging listeners to embrace their potential beyond 1%. He highlights the importance of challenging societal norms and trusting personal instincts, encouraging a path to authenticity and personal growth.
Trust your intuition and question societal norms to define your own path.
Differentiate between type 1 and type 2 decisions, embrace failure as feedback, and use it to learn and grow.
Embrace the 51% rule, make decisions based on available evidence, and overcome overthinking and doubt.
Deep dives
Questioning the Narrative and Trusting Your Intuition
Stephen Bartlett shares his natural inclination to question societal narratives and trust his own intuition rather than blindly accepting what he was told. Growing up in challenging circumstances, he developed a belief in his own potential and refused to let external factors define him. He encourages listeners to challenge societal norms and question what they have been conditioned to believe. Steven emphasizes the importance of tuning into your own feelings and intuitions and using them as a guide in decision-making, rather than relying solely on external sources for answers.
The Power of Type 2 Decisions and Failure as Feedback
Steven discusses the different types of decisions, highlighting the importance of recognizing that most decisions are actually type 2 decisions that can be reversed. He emphasizes the need to embrace failure as feedback and to view it as an essential part of the learning process. Steven shares a story of a successful businessman who made quick decisions and outpaced his competitors by experimenting and failing fast. He urges listeners to take action and conduct their own experiments rather than being paralyzed by a fear of failure, emphasizing that failure provides valuable knowledge and ultimately empowers individuals.
First Principles Thinking and Designing Your Own Path
Steven introduces the concept of first principles thinking, which involves questioning accepted norms and rules and finding your own unique path. He explains the importance of conducting experiments in various aspects of life to discover what works for you personally. Steven shares personal examples, such as his unconventional approach to sleep arrangements in his relationship, where he rejects societal expectations and instead designs a sleep schedule that aligns with the individual needs of both partners. He encourages listeners to reject external narratives and instead trust their own intuition and create their own solutions based on their unique circumstances.
Taking the First Step Towards Change
The podcast episode emphasizes the importance of taking the first step towards personal growth and change. It highlights the significance of recognizing and challenging one's self-imposed limitations and beliefs that hold them back from pursuing their true desires. Through the example of the aunt and spider in the circle, the episode emphasizes the power of stepping over the imaginary line and breaking free from self-imposed restrictions. It encourages individuals to start with small actions and take manageable steps towards their goals, rather than waiting for 100% certainty or tackling overwhelming challenges all at once.
The 51% Rule and Making Better Decisions
The episode introduces the concept of the 51% rule, which suggests that waiting for 100% certainty before making a decision is unrealistic. It emphasizes the importance of reaching 51% certainty in the moment and making decisions based on the available evidence. The episode encourages listeners to overcome overthinking and doubt by using the 51% rule and understanding that overthinking, doubting, and not making a decision are all choices in themselves. It also highlights the significance of embracing discomfort and being willing to make decisions that align with personal happiness and growth, even if they may seem embarrassing or go against societal expectations.
Do you want to learn the 4 essential strategies that will lead you to more success, happiness, and opportunity?
And today you are going to learn the tools that you can use, from one of the world’s best thinkers and most successful people, to make better decisions.
Steven Bartlett is an entrepreneur, speaker, investor, author, and host of Europe’s #1 podcast, The Diary Of A CEO. He has cracked the code on how to leverage your business online, rise above any obstacle, and excel in anything you set your mind to.
There is a reason he sits on the boards of many global brands – because he has one of the greatest entrepreneurial success stories of all time. Steven was a broke university dropout at age 18 when he built an industry-leading social media marketing company. At 28, he co-founded Flight Story, a marketing and communications company and a software platform, which was valued at $600M. He then went on to launch the #1 ranked The Diary Of A CEO podcast.
Today, he is sharing the 4 tactics he uses to make any decision for the best results. The tactics he shares are from his personal life as well as top-tier industry and thought leaders, entrepreneurs, entertainers, and athletes that he interviews on his wildly successful show.
In this episode, you’ll also learn:
How The 51% Rule will help you make better decisions.
The difference between Type 1 and Type 2 decisions. (And why it matters)
Why Steven says you are operating at 1% of your potential.
20% of relationship issues come from this one thing.
How to determine what drives you. (And why it’s important to know)
What to do when you feel trapped in your job or relationship.
One of the most successful CEOs says THIS is how to launch any business.
The ONE question to always ask before you go to others for answers.
The #1 goal for entrepreneurs must always be this.
For more resources, including links to Steven’s podcast, book, and social media platforms, click here for the podcast episode page.
