Consulting Mastery Making decisions in uncertain times
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Aug 26, 2024 In the midst of uncertainty, effective decision-making is crucial. The hosts emphasize a structured approach, highlighting the dangers of emotions and hubris. They use surfing as a metaphor to discuss what can be controlled. Mindset plays a key role, urging self-reflection and market awareness. Objectivity is highlighted as essential for adapting strategies in turbulent times. The conversation dives deep into recognizing what to manage and staying resilient against external pressures.
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Defining Good Decisions
- Good decisions are judged by their process, not just outcomes, as outcomes depend on many inputs.
- Recognize decision-making occurs with incomplete information yet should still follow sound reasoning.
Hubris Clouds Good Times Decisions
- It's easier to judge decisions fairly when things go badly because it reduces hubris and adds humility.
- When things go well, overconfidence can cloud objective decision assessment.
Control Emotion for Clarity
- Remove extreme emotions like fear or ego to maintain objectivity in decision making.
- Strive to find your emotional sweet spot for clearer, balanced judgment.