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Mindsets, The Secrets To Good Decision Making

I have just returned from making a speech to the National Conference of the Passenger Vessel Association at the Savannah Civic Center in Savannah, GA. Following is a very brief summary of that presentation.

This may surprise you, but you are not making decisions the way you think you are. Your mindsets are driving your decision-making process. You must address and understand your mindsets if you want to make good decisions and make them more consistently.

We make 30,000 decisions every day such as should I have Coke or a glass of water. We can’t analyze each one, so our mind creates shortcuts enabling us the make decisions much quicker. These shortcuts are also called facts, biases, beliefs, heuristics, ideologies, etc.

Your mind then assembles these “biases” into Mindsets which then become the frame through which we see the future and interpret new information.

For example, if you think the economy looks positive in the years ahead, you will notice any information that supports that view (also called confirmation bias). If you see the economy getting more negative over time, you will notice any information that supports and confirms that view. Therefore, you generally accept or reject new information and make decisions based on that mindset.

These differences have nothing to do with intelligence; they are the result of the mental frame (mindset) you have created over time to see into the future.

I then illustrated, using real-world examples, how these mindsets affect your decision making in different areas including the decision-making process, business, and personal decisions.

For example,

  • how to look at facts and determine if they are true and if they are important,
  • how much data you need to make a decision,
  • how to turn data into information and then into insights,
  • how you can reduce risks by measuring intangibles,
  • how to use the options we all love to have and keep open, and
  • how to leap over your competitors and make them irrelevant,
  • and much more.  

Understanding your mindsets and knowing how to use them can significantly improve your decision-making skills, and help you make the right decision versus having to be personally right.  

See also: Insights Lead To Better Decisions

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