All of us have only 24 hours in a day – from the richest person to the poorest. We all know of people who start at the bottom, but end up earning 10-times or even 100-times per hour more than the average person. Some of the most hard-working people in the world, such as those doing physical labour, are still barely making ends meet. Why is that? This goes against most widely-held beliefs that we were taught as children. This also means there is some other much bigger factor that helps us attract all-round holistic success.
Selecting the right options, moment-to-moment, from all kinds of choices we have available to us, is at the heart of leading a successful life. It is how we choose to invest our time and assets consistently that makes all the difference in the near and distant future.
Many of these decision-making opportunities are minor in nature, and we don’t think twice before going ahead with one alternative over the other. Some of these less significant “forks in the road” include the clothes we wear every day, essentials we buy, entertainment we partake in, or food we ask for. The common thread among all of the above is that usually, there is no permanent damage if we select an incorrect option occasionally.
But, ever so often, momentous life-changing junctures appear before us.
Examples of these important periods include the time we select our life partner, career, and financial investments.
These are times when we have to be wise, intelligent, and knowledgeable in taking one direction over the other. We need to be balanced and objective in our clarity. This is because very often it is better to be generally right than precisely wrong! Even recognising such a moment and treating it with due respect and care is a mark of maturity.
However, it is only human for us, due to both nature and nurture, to fall prey to our proclivity to process information in a certain way – essentially magnifying one data point while diminishing another. This set of predictable mental errors are called biases. They can result in illogical and irrational decisions, and it can cause us to misjudge people, situations, risks, and opportunities.
There are many biases that can affect our decision-making, but here are 10 common ones:
It is a smart strategy for anyone who is looking to improve their lives to keep the above-listed possibilities in mind. We need to watch out for when they may cloud how we see things.
One of the most powerful approaches we can rely on is to avoid making impulse decisions:
This is so that you at least have the satisfaction that you didn’t rush in without doing your “homework” i.e. due diligence.
By practising to improve our thought process, we can become deserving custodians of all the gifts that the universe entrusts us with.
Comment: Is there any tip/hack that you have personally used in order to learn things quickly which has not been covered in this blog?
Let me know in the comment section below, I would love to hear your stories.
Share This Post, Choose Your Platform!