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Mental Model #1: Address “Important”; Ignore “Urgent.” These are
entirely separate things that we often fuse together. Important is
what truly matters, even if the payoff or deadline is not so
immediate. Urgent only refers to the speed of response that is
desired. You can easily use an Eisenhower Matrix to clarify your
priorities and ignore urgent tasks, unless they so happen to also be
important.
Mental Model #2: Visualize All the Dominoes. We are a
shortsighted species. We think only one step ahead in terms of
consequences, and then we typically only limit it to our own
consequences. We need to engage in second-order thinking and
visualize all the dominos that could be falling. Without this, it can’t
be said that you are making a well-informed decision.
Mental Model #3: Make Reversible Decisions. Most of them are;
some of them aren’t. But we aren’t doing ourselves any favors
when we assume that they are all irreversible, because it keeps us inindecision far too long. Create an action bias for reversible
decisions, as there is nothing to lose and only information and speed
to gain.
Mental Model #4: Seek “Satisfiction.” This is a mixture of satisfy
and suffice, and it is aiming to make decisions that are good
enough, adequate, and serve their purpose. This stands in stark
contrast to those who wish to maximize their decisions with “just in
case” and “that sounds nice” extras. Those who maximize are
looking to make a perfect choice. This doesn’t exist, so they are
usually just left waiting.
Mental Model #5: Stay Within 40–70%. This is Colin Powell’s rule.
Make a decision with no less than 40% of the information you need
but no more than 70%. Anything less and you are just guessing;
anything more and you are just wasting time. You can replace
“information” with just about anything, and you will realize that
this mental model is about encouraging quick yet informed
decisions.
Mental Model #6: Minimize Regret. Jeff Bezos developed what he
calls the regret minimization framework. In it, he asks one to
visualize themselves at age 80 and ask if they would regret making
(or not making) a decision. This simplifies decisions by making
them about one metric: regret.
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