How To Improve Decision Making Skills | Decision Making Process

Summary

The video script by 8c Annex delves into the complexities of decision-making, highlighting common pitfalls such as misinformation, confirmation bias, emotional influences, and the rush to decide. It emphasizes the importance of aligning decisions with personal goals, recognizing the cumulative impact of small daily choices, and suggests strategies like stepping out of the situation to make more rational decisions. The speaker also touches on the idea of making 'good enough' decisions to avoid overthinking and procrastination, advocating for a time planning application to help with goal setting and tracking.

Takeaways

• 🧠 Decision-making is a critical skill that evolves with age and becomes more complex as we grow older.
• 🔮 The future is shaped by the decisions we make today, emphasizing the importance of wise choices for achieving goals.
• 🤔 Poor decision-making often stems from emotional triggers and noise that cloud our judgment during the decision process.
• 📚 Incomplete or false information, especially in the digital age, can mislead our decision-making.
• 🔎 Confirmation bias can skew our search for information, favoring what aligns with our existing beliefs.
• ❤️ Emotions play a significant role in our choices, often manipulated by marketers to influence buying decisions.
• 🚫 The influence of others can lead us to adopt behaviors that conflict with our own beliefs about health and well-being.
• ⏳ The pressure of time and deadlines can force us into hasty decisions that we might later regret.
• 🎯 Aligning decisions with our goals is crucial to avoid contradictory actions that hinder progress.
• 🌱 Small, daily decisions accumulate and can significantly impact our lives over time.
• 👤 Removing oneself from a situation can provide a clearer perspective, helping to make more rational decisions.
• 🔄 Accepting that decisions can be revised as we gain more knowledge and experience is essential for growth.

Q & A

What is the primary focus of the video script provided?

The primary focus of the video script is on the importance of decision-making in our lives, the challenges we face in making decisions, and strategies to improve our decision-making skills.

Why are people often making poor decisions according to the script?

People often make poor decisions due to factors such as incomplete or false information, confirmation bias, emotional triggers, influence from others, and the rush and hurry of life.

What is the impact of the Internet age on the information we access for decision-making?

The Internet age provides a vast amount of information, much of which is uncontrolled, leading to the potential for accessing false information that can negatively influence decision-making.

What is confirmation bias and how does it affect our decisions?

Confirmation bias is the tendency to search for and favor information that confirms our pre-existing beliefs while ignoring or devaluing information that contradicts them, which can lead to one-sided and potentially poor decisions.

How do emotions influence our buying decisions and why is this significant?

Emotions are used by marketers to influence buying decisions because humans are emotional creatures. This is significant because it often leads to purchasing items we don't need, based on emotional triggers rather than rational analysis.

Can you explain the example of Pete and how it illustrates the influence of others on our decisions?

The example of Pete illustrates how respect and admiration for a friend can lead us to adopt their behaviors, even if they are not in our best interest, such as starting to smoke because a respected friend does and says it's 'cool'.

Why is rushing a common problem in decision-making and what are its consequences?

Rushing is a common problem in decision-making because of the constant hurry and deadlines in our lives. The consequences of rush decisions often include regret and poor outcomes due to insufficient time for proper research and contemplation.

What is the relationship between decisions and our goals as highlighted in the script?

Decisions should align with our goals to avoid contradictions and to effectively work towards achieving them. Making decisions that do not support our goals can hinder progress and lead to undesirable outcomes.

Why is it important to consider the impact of small decisions on our long-term goals?

Small decisions are important because they accumulate over time and can have a significant impact on our long-term goals. Consistent daily actions, whether positive or negative, can lead to extraordinary results or setbacks.

What technique is suggested in the script to avoid making emotional decisions?

The script suggests taking oneself out of the situation by imagining giving advice to a best friend in the same situation. This helps to remove emotional bias and make more rational and objective decisions.

What is the advice given in the script for dealing with the pressure of making perfect decisions?

The script advises making 'good enough' decisions to avoid overthinking and procrastination. It emphasizes that decisions can be changed and improved as we grow in knowledge and experience.

What resource is mentioned at the end of the script for managing time and achieving goals?

A time planning application is mentioned at the end of the script, which allows users to set goals, track progress, create time blocks, build daily structure, and log time to measure performance.

Outlines

00:00

🤔 The Challenges of Decision-Making

This paragraph discusses the inherent complexity of decision-making and its impact on our future. It highlights common pitfalls such as misinformation, confirmation bias, the influence of emotions, and the rush to make decisions. The speaker emphasizes the importance of aligning decisions with personal goals and the cumulative effect of small, daily choices. The paragraph also touches on the negative influence of external factors like social pressure and the tendency to make hasty decisions due to procrastination.

05:02

📈 Strategies for Better Decision-Making

The second paragraph offers strategies to improve decision-making skills. It suggests taking an objective stance by imagining advising a friend in the same situation to avoid emotional bias. The speaker also recommends making 'good enough' decisions to prevent overthinking and procrastination, acknowledging that decisions can be revised as one gains more knowledge and experience. Additionally, the paragraph promotes a time planning application to help manage time, set goals, and track progress, which is offered as a free tool to assist in achieving goals more effectively.

Keywords

💡Decision-making

Decision-making is the cognitive process of selecting a course of action from multiple alternatives. It is central to the video's theme, emphasizing the impact of decisions on one's future. The script illustrates this by discussing how the choices we make today, from simple daily activities to complex life choices, shape our goals and achievements.

💡Consequences

Consequences refer to the results or effects of an action or decision. In the context of the video, the term is used to highlight the importance of considering the outcomes of our decisions, especially as we age and face more complex choices that can significantly influence our lives.

💡Emotional triggers

Emotional triggers are stimuli that evoke strong emotional responses, potentially leading to impulsive or irrational decisions. The script mentions these as one of the main reasons for poor decision-making, as they can cloud judgment and lead to choices that may not align with one's best interests.

💡Confirmation bias

Confirmation bias is the tendency to favor information that confirms one's preexisting beliefs or values. The video discusses how this bias can skew the decision-making process, as individuals may selectively seek out and interpret data that aligns with their views, ignoring contradictory evidence.

💡Information

Information is data or knowledge communicated or received concerning a particular fact or circumstance. The script points out the challenges of decision-making in the 'Information Age,' where the abundance of unverified data can lead to reliance on false or misleading information.

💡Marketers

Marketers are professionals who promote or sell products or services. In the video, they are mentioned as entities that exploit human emotions to influence buying decisions, demonstrating how emotions can be manipulated to affect the choices we make.

💡Procrastination

Procrastination is the act of delaying or postponing tasks or actions. The script uses procrastination as an example of behavior that can lead to rushed decisions and poor outcomes, such as last-minute preparation for a presentation due to a deadline.

💡Goals

Goals are the objects of aim or the end of an action. The video emphasizes the importance of aligning decisions with one's goals, as decisions that contradict these objectives can hinder progress and lead to undesirable results.

💡Small decisions

Small decisions refer to the minor choices we make daily that, when accumulated, can have a significant impact on our lives. The script illustrates this concept by pointing out that consistent, small actions, such as writing daily or making healthier food choices, can lead to substantial long-term effects.

💡Emotional decisions

Emotional decisions are choices made based on feelings rather than rational thought. The video suggests that such decisions can be detrimental, proposing a technique to imagine advising a friend in the same situation to achieve a more objective perspective.

💡Good enough decisions

Good enough decisions refer to choices that are satisfactory but not necessarily perfect. The script advises against the pursuit of perfect decisions, as it can lead to overthinking and inaction. Instead, it encourages making decisions that are 'good enough' and can be adjusted as one's knowledge and experience grow.

Highlights

Decision-making is an integral part of being human and evolves as we grow older, with consequences becoming more serious.

Today's decisions determine the future and how quickly goals are achieved.

People often make bad decisions due to emotional triggers and noise during the decision-making process.

Incomplete or false information, especially in the Internet age, can lead to poor decisions.

Confirmation bias affects decision-making by favoring information that aligns with our beliefs.

Emotions heavily influence our decisions, often manipulated by marketers to drive buying behavior.

Emotional attachment to people can lead to adopting their habits, even if they are unhealthy.

Rushing and living in a hurry often result in hasty decisions with regrettable outcomes.

Procrastination leads to rush decisions, which can negatively impact the quality of decision-making.

The environment plays a significant role in influencing our decision-making process.

Aligning decisions with personal goals is crucial for avoiding decisions that hinder progress.

Small, daily decisions can accumulate and have a significant impact on achieving life goals.

Consistent daily actions, such as writing a blog post, contribute to long-term success.

Taking oneself out of the situation can lead to more rational and less emotional decisions.

Giving advice to a friend in a similar situation can provide clarity and better decision-making.

Making 'good enough' decisions can prevent overthinking and procrastination.

Decisions can be changed and improved as we grow in knowledge and experience.

A time planning application is suggested for managing time, setting goals, and tracking progress.

The importance of subscribing for daily updates on improving decision-making and time management.

Transcripts

[Music]

hi everyone

8c annex here decision-making is an

integral part of being a human we're all

learning this skill

ever since we are little kids deciding

whether to choose chocolate or

vegetables play xbox or study as we grow

older the decisions that we make become

more complicated

while the consequences become more

serious I don't have to tell you that

the decisions you're making today will

determine your future and how you invest

your time today will determine how

quickly you will achieve your goals but

decision-making is not an easy thing

because if it would be then people

wouldn't be making so many bad decisions

it's not that people want to make bad

decisions it just happens that there are

all these emotional triggers and noise

while we make a decisions so we end up

making poor decisions so before we dive

into the concepts and strategies on how

to improve your decision-making skills

let's have a look at some of the main

reasons why people are making poor

decisions incomplete or false

information we now live in the Internet

age where information is available to

almost everybody and lots of it the

problem is that information for the most

part is uncontrolled meaning that anyone

can post whatever they want so when you

do your research you might come across

information that is not true

this works hand to hand with

confirmation bias confirmation bias

refers to our tendency to search for and

favor information that confirms our

beliefs while simultaneously

ignoring or devaluing the information

that contradicts our beliefs emotions

humans are emotional creatures I would

say too emotional and that's why

marketers are using emotions to

influence our buying decisions and as

you have probably noticed it works a lot

of times we buy stuff that we don't

really need it is also common to get

emotionally attached let's say I have a

friend

we'll call him Pete Pete is a good

friend of mine and I really like and

respect him Pete doesn't know it but he

has a huge influence on me one day Pete

starts to smoke and he's telling me that

it's cool to smoke and all the cool kids

do that

because I respect me I believe that what

is he telling is truth and I'll probably

start to smoke as well even if I think

that it's not healthy and good for me

rush and hurry our lives are in a

constant hurry

we have deadlines to meet and we're busy

all the time so it's no wonder that one

of the biggest problems in

decision-making is rush decisions that

we later have to regret at first it

might seem like there is not much we can

do with our deadlines but usually people

themselves create situations where they

have to make rush decisions if my boss

asked me to prepare the presentation

about market research in most cases he

will give me some time to do that it's

unlikely that he will suddenly from

thinner want a presentation in the next

three hours I might be given a week or

at least couple of days to do a proper

research and come up with a good action

plan in our case we'll use week as an

example so at the point of getting tasks

it seems reasonable to prepare the

presentation in one week so if I think

it will take me 10 hours to prepare

everything I can easily spend 2 hours

each day and by the end of the week I'll

have the job done but this is not what

the most people will do most people will

procrastinate till the last day and then

be like oh my god I have so little time

left and my boss needs a presentation

today and when you're in a position like

this you'll probably make a bad

decisions as you can see we're

surrounded by an environment that can

have a huge influence on how we're

making our decisions and this

environment in no way is helping us to

make a good decisions in our life so we

have to be smart about how we're going

to tackle this so needed skill of

decision-making number one

decisions must go in line with your

goals when you have to make a decision

you should think about how this decision

will impact your goals making a decision

that is not in line with your goals will

turn out to be a disaster because it

will contradict with your beliefs and

restrict you from achieving your goals

if you want to play football and that is

your goal then picking up any other

sports will contradict with your

ultimate goal you also need to think

about your physical condition so when

you're making decision about how to

spend your spare time you should think

about how to include some physical

activity

in your plan going to the gym would be

better hobby than playing chess

number two small decisions make a huge

impact from first it might seem correct

to think that all that matters are big

huge decisions that we make in our life

like what career path to choose or in

which university to study and while it's

true that these decisions matter we

often forget about little daily

decisions that add together and make a

huge difference in our life if you look

around you will notice that these little

everyday decisions and actions lead to

extraordinary results if you write a

blog you will not be successful with one

viral post yes you might gain a boost in

traffic but that will not guarantee you

success

what will guarantee your success is the

decision to write daily and post

consistent content over extended periods

of time deciding to eat at McDonald's

will leave a bad impact on your goal if

you're trying to lose some weight and if

you want to build some muscle then

skipping a gym session is not a good

idea these are tiny decisions that have

tiny impact on the goal but repeated

over and over will result in you never

achieving your goal number three take

yourself out of the situation as I

mentioned above one of the biggest

challenges in making decisions is that

people tend to make emotional decisions

and the decision that is made in an

emotional wave is probably not a good

decision a great technique is to imagine

that you're not in a situation by

yourself but you're giving advice to

your best friend this way you have all

the reasons to make the right decisions

for your friend and you will not be

emotional because you're not in the sea

this is how it would look like let's say

I've started the new business and six

months later I find myself struggling

with everything I have problems with my

team it's hard to manage and they're not

getting on very well my product is

having some issues and I'm getting bad

feedback from my customers and sales are

quite bad as well so I start to think if

I should keep going or just quit and do

something else

if I want to make a decision while I'm

in this situation I'll be very emotional

I mean who wouldn't be in this kind of a

situation but what I can do to

make a better decision is to imagine

that my best friend is in this situation

and I give him advice about what to do

when I look at the situation without

emotions I'll be able to make a much

better decision another great tip that I

use myself quite often is making just

good enough decisions when you want to

make a perfect decision you will always

overthink an over plan and that will

lead to procrastination remember that

all the decisions that you make can be

changed as you grow your knowledge and

experience you will change your

decisions to better ones if you want to

manage your time better have more

structure in your life and achieve your

goals make sure you check out my time

planning application you can set goals

and track progress towards them create

time blocks and build your own daily

structure as well as log your time and

measure your performance best of all

it's totally free so press here to check

it out right now

I'm working on new videos every day so

be sure you subscribe so you don't miss

my next episode

you