The Importance of Problem Statements in Decision Making

A lot was learned about how people make decisions in the real world/nCOVID shut down online events leading to the creation of decision by design/nDecision by design takes a prescriptive approach by sharing practical tools for decision-making/nSeparating problem definition from problem solution is an effective tool/nMany people jump straight into solutions without scrutinizing the problem statement/nScrutinizing the problem statement is important to ensure the problem is worth solving

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

Brought to you by Momentous high-quality supplements, Eight Sleep’s Pod Cover sleeping solution for dynamic cooling and heating, and AG1 all-in-one nutritional supplement.

Shane Parrish (@ShaneAParrish) is the entrepreneur and wisdom seeker behind Farnam Street and the host of The Knowledge Project podcast, where he focuses on mastering the best of what other people have already figured out. Shane's popular online course, Decision by Design, has helped thousands of executives, leaders, and managers around the world learn the repeatable behaviors that improve results. His work has been featured in nearly every major publication, including The New York Times, The Wall Street Journal, and Forbes.

Shane is the author of Clear Thinking: Turning Ordinary Moments into Extraordinary Results.

Please enjoy!

This episode is brought to you by AG1! I get asked all the time, “If you could use only one supplement, what would it be?” My answer is usually AG1, my all-in-one nutritional insurance. I recommended it in The 4-Hour Body in 2010 and did not get paid to do so. I do my best with nutrient-dense meals, of course, but AG1 further covers my bases with vitamins, minerals, and whole-food-sourced micronutrients that support gut health and the immune system.

Right now, you’ll get a 1-year supply of Vitamin D free with your first subscription purchase—a vital nutrient for a strong immune system and strong bones. Visit DrinkAG1.com/Tim to claim this special offer today and receive your 1-year supply of Vitamin D (and 5 free AG1 travel packs) with your first subscription purchase! That’s up to a one-year supply of Vitamin D as added value when you try their delicious and comprehensive daily, foundational nutrition supplement that supports whole-body health.

This episode is also brought to you by Eight Sleep! Eight Sleep’s Pod Cover is the easiest and fastest way to sleep at the perfect temperature. It pairs dynamic cooling and heating with biometric tracking to offer the most advanced (and user-friendly) solution on the market. Simply add the Pod Cover to your current mattress and start sleeping as cool as 55°F or as hot as 110°F. It also splits your bed in half, so your partner can choose a totally different temperature.

Go to EightSleep.com/Tim and save $250 on the Eight Sleep Pod Cover. Eight Sleep currently ships within the USA, Canada, the UK, select countries in the EU, and Australia.

This episode is also brought to you by Momentous high-quality supplements! Momentous offers high-quality supplements and products across a broad spectrum of categories, and I’ve been testing their products for months now. I’ve been using their magnesium threonate, apigenin, and L-theanine daily, all of which have helped me improve the onset, quality, and duration of my sleep. The Momentous Sleep Pack conveniently delivers all three in one single blend. I’ve also been using Momentous creatine, and while it certainly helps physical performance, including poundage or wattage in sports, I use it primarily for mental performance (short-term memory, etc.).

Their products are third-party tested (Informed-Sport and/or NSF certified), so you can trust that what is on the label is in the bottle and nothing else. If you want to try Momentous for yourself, you can use code Tim for 20% off your one-time purchase at LiveMomentous.com/Tim. And not to worry, my non-US friends, Momentous ships internationally and has you covered.

[05:43] The Stopwatch Gang influences a D student.

[10:54] How a low-grade troublemaker gets vetted for an intelligence job.

[17:23] The impact of frequent relocation on a child.

[21:33] The benefits of a challenging education (once the tears dry up).

[31:09] From 68131-1440.blogger dot com to Farnam Street.

[36:10] An early exploration of cognitive biases.

[39:39] "Ordinary moments determine your position, and your position determines your options."

[45:55] Incisive, deliberate decision-makers.

[47:44] Defining mental models.

[50:47] The declaration of platform independence.

[52:50] A Farnam Street business breakdown.

[56:05] Scrutinizing the problem statement.