TGL043: Mastermind Group on Decision Making (Finance Podcast)

The Good Life Podcast with Sean Murray

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: [e-mail]
• Website: RealTime Performance, Inc.
• Weekly Newsletter: RealTime Performance Newsletter

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