How to make good decisons | Mikael Krogerus & Roman Tschappeler | TEDxDanubia

Introduction

In this tutorial, we will explore effective decision-making strategies inspired by the talk by Mikael Krogerus and Roman Tschappeler. Their insights reveal common decision-making pitfalls and provide actionable models that can enhance your strategic thinking. Whether you're faced with personal choices or professional dilemmas, these steps will help you make more informed and confident decisions.

Step 1: Recognize Common Decision-Making Pitfalls

Understanding the typical problems that arise during decision-making can help you avoid them. Key pitfalls include:

• TMI (Too Much Information): Overloading yourself with options can lead to confusion. Aim to simplify your choices.
• PDF (Post-Decision Feeling): The regret or doubt that often follows a decision can cloud your judgment. Accept that no choice is without risk.
• Perfectionism: The search for an ideal solution can paralyze your decision-making. Acknowledge that perfection is often unattainable.

Practical Advice

• Limit your options to a manageable number.
• Reflect on your decisions rather than dwell on potential regrets.
• Embrace imperfection and focus on making a decision that is "good enough."

Step 2: Apply Decision-Making Models

Krogerus and Tschappeler offer various models to aid in decision-making. Here are a few to consider:

• The Decision Matrix: List options and criteria, then score each option based on how well it meets your criteria. This visual representation can clarify your choices.

  Option | Criteria 1 | Criteria 2 | Criteria 3 | Total Score
  ------------------------------------------------------------
  Option A |     3     |     4      |     5      |      12
  Option B |     5     |     2      |     3      |      10
  

• Pro-Con List: Write down the advantages and disadvantages of each option. This straightforward method helps in visualizing the potential outcomes.

Practical Advice

• Use a decision matrix when faced with multiple complex choices.
• Regularly update your pro-con list to reflect new insights or information.

Step 3: Embrace Incremental Decision-Making

Instead of making all decisions at once, consider breaking them down into smaller, manageable steps. This method allows for flexibility and adjustments along the way.

Practical Advice

• Start with small decisions and gradually build up to larger ones.
• Be open to revising your choices as new information becomes available.

Step 4: Cultivate a Reflective Mindset

After making a decision, take time to reflect on the outcome and the process you used. This reflection builds self-awareness and improves future decision-making.

Practical Advice

• Set aside time to review decisions and their outcomes.
• Ask yourself what worked, what didn’t, and how you can improve next time.

Conclusion

Effective decision-making is a skill that can be developed through awareness of common pitfalls, the application of structured models, and a reflective approach. By embracing these strategies, you can enhance your ability to make sound decisions in various aspects of your life. Start applying these techniques today to become a more confident and strategic thinker.