The coin flip, the ultimate 50-50 choice, is actually a little biased. According to a Stanford study, even a fair coin is about 51 per cent likely to land on the same face it started on. And if you spin instead of flipping, even a slightly weighted coin is much more likely to land on its heavier side. (A spun penny lands tails-up 80 per cent of the time.) But there's a cool maths trick for getting a fair result from an unfair coin.
Tagged With decisions
When you're faced with making a decision that involves yourself, it's difficult to be rational because you're trapped in your own world and biases. One way to get past these is to ask yourself, "If this was about someone else that I love and care about, what would I tell them?"
Major bottlenecks in businesses are often caused by indecision. It could be that a business owner is waiting on more data before making a decision on a big ticket purchase. They could be too busy to stop and make up their minds on something that needs to be done or perhaps they're easily distracted by new options that are presented to them. But avoiding the tough decisions that need to be made can paralyse a business, leading to lost opportunities. Here's some advice from small business expert Dr Greg Chapman to help business owners tackle the problem of indecisiveness.
Motivation is fleeting, which is why it's important to build a solid system for getting stuff done. This way, you make it as easy as possible to achieve your goals, even on low-motivation days. When you second guess your system, though, you defeat the purpose. David Allen reminds us: trust your system.
Financial decisions and life decisions often go hand in hand. Do you buy a home or move to a different city? Do you start your own business or keep working your 9 to 5? To make your money work for you in the best way possible, it's important to establish what financial planner Mindy Crary calls your "Chief Initiative."
Games like Settlers of Catan are "resource management games," where you make difficult choices and focus on long-term goals (like building the largest army). It's a lot like life: You have goals, opportunities, and decisions along the way to get where you want to go. You can apply that same game logic to make the right choices.
Being faced with a decision -- even between two positive things -- can be a source of stress. Make life easier on yourself by accepting "good enough" decisions when you can.
We are incredibly hard on ourselves when it comes to making big decisions in life. Whether it's about a relationship or a job, when we are attempting to decide something that is complex and multifaceted, it's ok to be wrong. In fact, your first choice will usually be wrong.
Critical thinking requires you to rewire your brain to see the world in different ways. One way to do that is to imagine a series of "What if..." scenarios.
Saying no is a tough skill to learn, but it's necessary to keep from getting overwhelmed. If you're not yet comfortable with the word "No", give yourself a fighting chance by delaying the "Yes".