The Art of Decision Making: Lessons from “Clear Thinking” by Shane Parrish
Raylen Davis
I Help Founders And Trade Schools Sell More With Less Effort and sometimes.. Make Videos about my Life and Business Lessons ?More Enrollments, Less Effort Blueprint
I recently had a realization that I’m almost ashamed to admit: I thought I knew how to make good decisions, but the truth is, I had no idea what really goes into making a clear and definite great decision. More times than I’d like to admit, I was giving up what I wanted most for what I wanted today. And chances are, you might be in the same boat.
The Illusion of Rationality
I always considered myself rational and logical. However, making better decisions involves more than just rationality. There are interior forces constantly at play, and a lack of understanding of the decision-making process can lead to poor choices. Shane Parrish’s book “Clear Thinking” sheds light on this complex process. Interestingly, he introduces a concept that Stoics have discussed for centuries, and people like Ryan Holiday have popularized: Memento Mori – remember you will die.
Starting with the End in Mind
Parrish suggests a thought experiment: imagine yourself at 89 years old, on your deathbed. Reflect on the decisions you regret. Likely, you won’t regret not working enough; you’ll regret not pursuing your goals, not marrying the person you loved, or not taking the job that scared you. This perspective, known as Memento Mori, helps us remember that our time is limited and pushes us to take action on what truly matters.
Overcoming Biases
Two significant biases frequently hinder our decision-making:
1. Confirmation Bias: We seek out information that confirms our beliefs. In business, this might mean launching a product without proper market research, leading to failure. In personal life, it can mean proving ourselves right in arguments without considering contrary evidence.
2. Sunk Cost Fallacy: We double down on investments (time, money, resources) even when they’re not yielding results. This can happen in business with failing projects or in personal relationships that aren’t working out, just because we’ve invested so much already.
The Decision-Making Process
Parrish outlines a clear process for making better decisions:
1. Identify the Problem: Understand the real issue at hand. For example, a dog shelter realized their problem wasn’t getting dogs adopted but preventing people from surrendering their pets in the first place.
2. Explore Possibilities: Don’t brainstorm in isolation. Seek experts and diverse perspectives to generate a wide range of solutions.
3. Evaluate Options: Assess all potential solutions carefully. Imagine having made each decision and consider how it feels.
4. Make the Decision: After thorough evaluation, commit to a decision. Avoid spending too much time in analysis paralysis.
Parrish emphasizes the importance of setting a deadline for decisions. If you don’t decide by the deadline, it either wasn’t important or you’re just scared, which is okay but should be acknowledged.
Bullets Before Cannons
One valuable analogy Parrish uses is “bullets before cannons.” When facing a challenge, start small to test the waters before committing significant resources. For example, instead of investing heavily in a new business idea, test it on a small scale first to gauge interest and viability. This approach saves time, money, and effort by validating ideas before going all in.
At The End Of The Day
In essence, making better decisions is about clear thinking and a structured process. By starting with the end in mind, overcoming biases, and following a defined decision-making process, we can avoid regrets and achieve what we truly want. If you’re interested in improving your decision-making skills, I highly recommend reading “Clear Thinking” by Shane Parrish.
Do you have a different process for making hard decisions? I’d love to hear about it in the comments. As always, thanks for watching. Make sure to like, comment, and subscribe. I’ll catch you in the next video.