10 most common mistakes in decision-making…

My friend Rob Lamarre is working on his MBA and shared some notes from Decision Traps. (Thanks Nicole for sending them over!) The summary alone was great stuff. I can only imagine how helpful the book is. Although it’s an oldie, it’s most definitely a goodie.

You don’t need an MBA to avoid these common mistakes; you just need awareness.

1. PLUNGING IN | Gather information before thinking about the root of the issue…
2. FRAME BLINDNESS | Set out to solve the wrong problem by losing sight of most important objectives…
3. FRAME CREEP| Define the problem from one perspective or unduly define it by too many…
4. OVERCONFIDENCE | Fail to collect factual information because you are too sure of your own assumptions…
5. SHORTSIGHTED SHORTCUTS | Rely on most convenient information without questioning if it fits the situation…
6. SHOOTING FROM THE HIP | “Wing it” with final choice rather than follow systematic process…
7. GROUP FAILURE | Assume smart choices automatically follow smart people and allow group to self-manage…
8. FOOL YOURSELF | Fail to interpret outcomes of past decisions for what they really say or rewrite history to protect your ego…
9. DON’T KEEP SCORE | Assume experience is obvious and there is no need to track results or look for lessons…
10. LACK OF AUDIT | Pay attention only to the pieces without evaluating how the parts affect the whole…

This week alone, number 1, 2 and 5 totally owned me. Doh!

Comments

[Ron]

Good stuff!

[Daryl Irby]

Very insightful. Many people I know miss out on 6 as well.

[Stan]

Thanks for this list. Those are great.

[Clowe]

I've got some major big decisions coming up -- thanks for the tips!