How to Make Great Decisions Quickly as an Entrepreneur

Summary

The quality of your life depends on the quality of your choices. In this video, I'll share a simple framework to get most of your decisions right, even when making them quickly. Master this ability, and your life & career will improve very soon.

Transcript

The quality of your life depends upon the quality of your choices. In this video, I'm going to give you a very simple heuristic you can use to get 90% of your decisions right? From the get go. Let's get to it.

Hey, I'm Leon Castillo, founder of Selfmastered, a High Performance Training Company that helps entrepreneurs scale the businesses by solving their solid bottleneck. Their own performance will transform the unproductive, overwhelming and focus entrepreneurs into laser focused business athletes that can achieve in one day, what they previously achieved in one week.

Today's video is about discernment or judgment, which is your ability to make good decisions. And this is probably the number one skill for entrepreneurs because entrepreneurs are essentially problem solvers. But it is not easy to learn. In fact, most people say that good judgment comes from experience. And I tend to agree, but this video is about giving you a clear Ristic that you can use to make 90% of your decisions and get them right.

And this essentially deals with the two types of decisions we have one are the highly consequential and the other one is the highly inconsequential, but all of them are important rule number one for highly consequential decision is to look up the degree of certainty that you have about that.

So highly consequential decision would be Should I marry this person? Should I go to this new job? Should I move to this new city, should I start this new business, these kinds of decision to have a very long Half Life need to be taken with as much certainty as possible because starting a business is a 10 year endeavor. moving to another city is a five year endeavor. Having a kid or marrying someone is a lifetime commitment, hopefully. So this kind of decision needs to be taken with as much certainty as possible. And when doing this kind of decisions, you shouldn't rely that much on God the rational part of the brain.

In other words, you should not be using a spreadsheet to calculate the pros and cons of marrying someone or going to a new city or getting a new job. Because the moment you do that, you're essentially bypassing the evolutionary mechanism that you have to make decisions. Because every time you're faced with this kind of decision, you have your own pattern recognition system that you've been holding throughout your life to guide your decision making.

And you intuitively know which is the right choice when the stakes are high. If you do not feel an 80% aligned with the decision, then don't take it, you can still get it wrong. But you will minimize your chances of making a mistake because your brain is very good at filtering out what is irrelevant when making a decision. And that's what hones our intuition.

So for highly consequential decision, remember to rely on your gut feeling or your intuition. When you are 80%. convinced about something, chances are that's the right choice based on your experience throughout your life.

And this is a little bit analogous to what one entrepreneur Derek Severs uses to make this kind of decision which is the artistic Hell yeah, or nothing. He says that anything other than a hell year is a no for him, because he aims to make room for the highly important consequential and not make a small decisions that just doesn't feel that much enthusiasm. It's so quite a similar idea to what the one that I just shared, always be certain always be highly enthusiastic about the decision.

And chances are, you will get it right now before we get into Rule number two, remember to like, subscribe and hit the notification bell so you never miss out on any of the juicy videos that we publish every week.

And rule number two has to do with short term decisions that seem inconsequential at the moment. But they're highly important in the long term things like should I go to the gym? Should I eat clean? Should I send this email? Should I have this nasty conversation? Should I do something that I don't want to do here the heuristics is to go for the hardest choice. Why? Because our brain evolutionary tendency is to seek pleasure and avoid pain.

That's how we survive when we run the savanna 200,000 years ago, but we're not in the savanna anymore. So we need to counteract this natural tendency because if you remember the concept of compounding what every choice that you make has a long term consequence making the difficult choice now will yield a good result in the long term.

If you decide to work out today. Even though you do not feel like it. You will strengthen your health. If you have a difficult conversation with a subordinate or a colleague you will fix a relationship that is going to provide value in the long term. If you eat clean now you're going to be more healthy in the long term.

Every time you have a decision that is seems inconsequential. What should I eat today? It doesn't really matter does it? Eat Does because everything eventually compounds and you should be in the business of playing long term games. So this is the heuristics that I use to get 90% of my decisions right? If the thing is highly consequential, I like to be as enthusiastically convinced as possible. If I find myself looking for pros and cons, chances are, it is not derived decision for me to make and when the decision seems inconsequential, at the moment seems like very small, I tend to go for the hardest choice because I understand the importance of counterbalancing the natural tendency our brain has of going for the easy choice because as someone once said, hard choices easy life, easy choices. Life. Always aim for an easy life through making hard choices.