RESULTS Blog

Source: Professor Gary Marcus of New York University

Consider both costs and benefits

Our minds tend to consider either costs or benefits only.  Taking both perspectives into account takes mental effort.  Force yourself to list the pros and cons.  One factor we often forget is the 'opportunity cost.'  When we do one thing, we can't be doing something else at the same time.  It’s either or.  When you watch TV the benefit is relaxation and enjoyment - but the cost is that you can't use that same time to read a business book.

Justify yourself

When we think someone will check up on us we make more mental effort, leading to better decision-making.  Imagine you have to justify your decision to someone else.  Would you still make that decision?

Distance yourself from the issue

Our brains are influenced by our current emotions, which can impair rationality.  Big decisions are better made after a night's sleep.  Step back and consider the likely chain of events.  What are the future implications of this decision?  Have you considered all the consequences?

Don't believe the hype

It's easy to be persuaded by vivid stories and ignore scientific evidence.  Our minds are naturally influenced by sensational information that is high on hype, but low on factual substance (e.g. as propagated by the media).  Look carefully at the information source and sample size - are you being manipulated?

Make fewer decisions

Peter Drucker said effective executives do not make many decisions.  They concentrate on making a few important ones.  Make the big strategic decisions, rather than try to solve lots of little problems.  Do not make fast decisions.  Make the right decisions that have the biggest impact.

What would Spock do?

Just reminding ourselves to think rationally helps us make better decisions.  Consciously trying to think rationally will also help activate all the other techniques described here.
 

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Stephen Lynch

Chief Operating Officer - Global Operations
RESULTS.com