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The New Year’s Question: Are You Starting Again…Again?

The New Year’s Question: Are You Starting Again…Again?


    Time in pubs with friends is rarely wasted. At the very least you get in a good chat with your friends, and at best you get a life-changing revelation. This one started out as the traditional:

    “If you knew then what you know now, would you do it again?”

    We worked on it and developed it and made it into something ‘more’. We made it into this question:

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    “Knowing what you know, would you start again from where you are — if you had the choice?”

    From that, we developed a whole process for deciding what to do next when it comes to the big ideas in life and so on. The idea is simple — and is particularly useful as we head into a brand new year…

    Step One: Value What You’ve Got

    Ask yourself a question: If some super-intelligent alien race arrived tonight and asked you what you’d got and you told them — and they did the same to everyone else, they’d probably have a pretty good idea of how much you had was worth in the grand scheme of things. The ‘alien bit’ is important because it implies that they have a complete understanding of what’s going on, but no emotional or sentimental attachment to things.

    What you get at the end of that is a notional value of, say, ‘X’ thousand pounds, dollars, euros, yen, smarties or whatever.

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    Step Two: Play or Fold

    This step is designed to make you think about your circumstances a bit. If they offered to take what you’d got and give you that fair valuation for it, would you take it?  Again, the fact that it’s an alien is important, because it’s important that the X thousand they give you is absolutely, objectively fair.

    If you’d take it, fine. If not, also fine. But not taking it implies there’s something above and beyond the economic value of your stuff. It implies that there’s an emotional attachement. Great. It means you believe in what you’re doing and it means you’re likely to be passionate about it. Good for you!

    Step Three: Starting Over

    Starting over is the most important one – and it assumes you were forced to sell to these strange aliens, whereas the previous step assumes you have a choice.

    If you got a fair amount of money for your stuff, what would you do with that money?  Would you buy back your own stuff?  Alternatively, knowing what you now know (which is different from what you knew when you first got your stuff, obviously – and critically) would you buy something different?

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    It’s all about ROI – return on investment. If you’re happy to buy back your own stuff (emotional attachment aside), it follows that you must believe your stuff represents the best portfolio of ‘stuff’ that you could have. On the other hand, if you think you can get a better return on your money, knowing now what you didn’t know when you first got that stuff, you shouldn’t buy back your own stuff. Instead you should buy different ‘stuff’.

    Step Four: Repeat the Repeating

    This idea of starting over (and over) is an interesting one. It’s probably possible to take it too far (daily? weekly?) but it probably has merit as the process for a monthly review – or perhaps an annual review of what you’ve done, not done or might do in the future.

    It’s an idea that encourages you to be honest — brutally honest — with where you are and what you should do next. Doing it regularly means you’re constantly assessing where you are and asking yourself if you’re making the best use of your resources.

    The Downside

    There’s always a downside, right?

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    The big one we found as we tossed this idea around is this – it doesn’t take account of the cost of change. Implicit in the alien’s approach is that it costs nothing to change from where you are to where you should be, objectively, and sometimes the cost of change is greater than the benefit of doing that. Cost, of course, can be measured in money, time, effort and energy, peace of mind and a host of other ways!

    So one last step is to ask yourself this:

    “If you think you should move to something else – is it worth the effort?”

    And if you’ve decided not to move, the question should be whether you’re using the cost of changing as an excuse.

    (Photo credit: Concept image of a signpost via Shutterstock)

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    Last Updated on July 8, 2020

    How to Prevent Decision Fatigue From Clouding Your Judgement

    How to Prevent Decision Fatigue From Clouding Your Judgement

    What is decision fatigue? Let me explain this with an example:

    When determining a court ruling, there are many factors that contribute to their final verdict. You probably assume that the judge’s decision is influenced solely by the nature of the crime committed or the particular laws that were broken. While this is completely valid, there is an even greater influential factor that dictates the judge’s decision: the time of day.

    In 2012, a research team from Columbia University[1] examined 1,112 court rulings set in place by a Parole Board Judge over a 10 month period. The judge would have to determine whether the individuals in question would be released from prison on parole, or a change in the parole terms.

    While the facts of the case often take precedence in decision making, the judges mental state had an alarming influence on their verdict.

    As the day goes on, the chance of a favorable ruling drops:

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      Image source: Proceedings of the National Academy of Sciences

      Does the time of day, or the judges level of hunger really contribute that greatly to their decision making? Yes, it does.

      The research went on to show that at the start of the day the likelihood of the judging giving out a favorable ruling was somewhere around 65%.

      But as the morning dragged on, the judge became fatigued and drained from making decision after decision. As more time went on, the odds of receiving a favorable ruling decreased steadily until it was whittled down to zero.

      However, right after their lunch break, the judge would return to the courtroom feeling refreshed and recharged. Energized by their second wind, their leniency skyrockets back up to a whopping 65%. And again, as the day drags on to its finish, the favorable rulings slowly diminish along with the judge’s spirits.

      This is no coincidence. According to the carefully recorded research, this was true for all 1,112 cases. The severity of the crime didn’t matter. Whether it was rape, murder, theft, or embezzlement, the criminal was more likely to get a favorable ruling either early in the morning, or after the judges lunch break.

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      Are You Suffering from Decision Fatigue Too?

      We all suffer from decision fatigue without even realizing it.

      Perhaps you aren’t a judge with the fate of an individual’s life at your disposal, but the daily decisions you make for yourself could hinder you if you’re not in the right head-space.

      Regardless of how energetic you feel (as I imagine it is somehow caffeine induced anyway), you will still experience decision fatigue. Just like every other muscle, your brain gets tired after periods of overuse, pumping out one decision after the next. It needs a chance to rest in order to function at a productive rate.

      The Detrimental Consequences of Decision Fatigue

      When you are in a position such as a Judge, you can’t afford to let your mental state dictate your decision making; but it still does. According to George Lowenstein, an American educator and economy expert, decision fatigue is to blame for poor decision making among members of high office. The disastrous level of failure among these individuals to control their impulses could be directly related to their day to day stresses at work and their private life.

      When you’re just too tired to think, you stop caring. And once you get careless, that’s when you need to worry. Decision fatigue can contribute to a number of issues such as impulse shopping (guilty), poor decision making at work, and poor decision making with after work relationships. You know what I’m talking about. Don’t dip your pen in the company ink.

      How to Make Decision Effectively

      Either alter the time of decision making to when your mind is the most fresh, or limit the number of decisions to be made. Try utilizing the following hacks for more effective decision making.

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      1. Make Your Most Important Decisions within the First 3 Hours

      You want to make decisions at your peak performance, so either first thing in the morning, or right after a break.

      Research has actually shown that you are the most productive for the first 3 hours[2] of your day. Utilize this time! Don’t waste it on trivial decisions such as what to wear, or mindlessly scrolling through social media.

      Instead, use this time to tweak your game plan. What do you want to accomplish? What can you improve? What steps do you need to take to reach these goals?

      2. Form Habits to Reduce Decision Making

      You don’t have to choose all the time.

      Breakfast is the most important meal of the day, but it doesn’t have to be an extravagant spread every morning. Make a habit out of eating a similar or quick breakfast, and cut that step of your morning out of the way. Can’t decide what to wear? Pick the first thing that catches your eye. We both know that after 20 minutes of changing outfits you’ll just go with the first thing anyway.

      Powerful individuals such as Steve Jobs, Barack Obama, and Mark Zuckerberg don’t waste their precious time deciding what to wear. In fact, they have been known to limiting their outfits down to two options in order to reduce their daily decision making.

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      3. Take Frequent Breaks for a Clearer Mind

      You are at your peak of productivity after a break, so to reap the benefits, you need to take lots of breaks! I know, what a sacrifice. If judges make better decisions in the morning and after their lunch break, then so will you.

      The reason for this is because the belly is now full, and the hunger is gone. Roy Baumeister, Florida State University social psychologist[3] had found that low-glucose levels take a negative toll on decision making. By taking a break to replenish your glucose levels, you will be able to focus better and improve your decision making abilities.

      Even if you aren’t hungry, little breaks are still necessary to let your mind refresh, and come back being able to think more clearly.

      Structure your break times. Decide beforehand when you will take breaks, and eat energy sustaining snacks so that your energy level doesn’t drop too low. The time you “lose” during your breaks will be made up in the end, as your productivity will increase after each break.

      So instead of slogging through your day, letting your mind deteriorate and fall victim to the daily abuses of decision making, take a break, eat a snack. Let your mind refresh and reset, and jump-start your productivity throughout the day.

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      Featured photo credit: Kelly Sikkema via unsplash.com

      Reference

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