It's the only part of the outcome you can control.....

I love Annie Duke's work. Her first two books, Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts and How to Decide: Simple Tools for Making Better Decisions, put the process of understanding decisions and their results in an entirely new context.

Most of us (as I did before reading her books) look at the results and from there determine whether our decision was good or bad.

Actually...

Key Point: Doing that is a counterproductive way to go about the process and will often provide an incorrect (and potentially harmful) context for future decisions.

After all, sometimes we make good decisions that turn out bad. Other times we make bad decisions that turn out good. If we look only at the result and judge the quality of our decision based on that result, we are providing ourselves with incorrect information.

According to Ms. Duke, “Best decision plus luck = outcome.”

We could even replace the word “luck” with “life."

The Important Distinction: It’s *not* about *depending* upon luck but rather making the correct decisions to the best of your ability, placing the odds of the desired outcome as much in your favor as possible, and then still realizing that we can never actually predict the future and that luck/life (either good or bad) may or may not come into play.

This allows a person to know that, so long as they do their best to make the right decision (based on doing the best they can do in terms of research, thought process, etc.), they never have to have regrets...regardless of the outcome.

Today's Exercise: Think of some past decisions you’ve made as well as their results. Now go back and review the thought processes behind them. What were the factors that went into the results themselves? How much was the result of the decision-making process and how much of it was luck/life? From this point on, begin staying consciously aware of these two elements.

You can learn more about Annie and her books and subscribe to her Substack at https://www.annieduke.com/.

Kind regards,

Bob

Bob Burg

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