The Good Life Podcast with Sean Murray TGL043: Mastermind Group on Decision Making (Finance Podcast)
On today’s show, we brought back by popular demand, our Mastermind group on decision making. I believe decision making is one of those super-powers in living The Good Life. Improving our judgment can have a far-reaching impact on our health, our well-being, our emotions, our happiness – so many different aspects of our life. Decision making is the primary tool we have to go about in constructing a flourishing life.
The Mastermind group includes Jake Taylor of Farnam Street Investments, Annie Duke, author of "Thinking in Bets", and Brent Snow, founder of Ten Thousand Feet which is a company that provides training to Fortune 500 companies on decision making. I've asked each of our guests to introduce a tip or technique that they recommend in improving our decision making.
IN THIS EPISODE, YOU'LL LEARN:
- How quitting helps us deal with uncertainty
- Why, when the world changes, we should change our mind
- Why being “quit-tuitive” is not intuitive, and what do do about it
- Gritty is good but when do we quit and get gritty about something else?
- The "quit-ability" of an option should be something we take into consideration
- Determine the conditions in advance that would cause us to change our mind and try another strategy or model
- Why Bezos encourages his team at Amazon to quit and shut projects down
- Why we should "Widen the frame" – consider more than just two options
- Why a group is great for providing different perspectives and independent thinking, but one person should make the decision
- Why we shouldn’t use a group meeting to decide, rather we should use it to inform.
- Information diets and truth densities - give yourself permission to go on an information diet
- Pare down your input to information with high truth density
- Why books are the oil of information
BOOKS AND RESOURCES
- How To Decide by Annie Duke
- Letter to Investors on Decision Making by Jake Taylor
- All of the HSA benefits. None of the hassle. Make the most of your health savings account with BendHSA.
- Capital One. This is Banking Reimagined. What’s in your wallet?
- Browse through all our episodes (complete with transcripts) here
- Support our free podcast by supporting our sponsors
CONNECT WITH ANNIE DUKE, JAKE TAYLOR & BRENT SNOW
- Annie Duke's Twitter Account
- Annie Duke's Website
- Jake Taylor's Twitter Account
- Jake Taylor’s Farnam Street Investments
- Brent Snow’s Ten Thousand Feet
GET IN TOUCH WITH SEAN MURRAY
- Sean's Twitter Account
- Sean's LinkedIn Account
- Email: Sean@TheInvestorsPodcast.com
- Website: RealTime Performance, Inc.
- Weekly Newsletter: RealTime Performance Newsletter
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