Fail Small Not Big
View each day as four quarters (morning, midday, afternoon, evening) to make it easier to bounce back quickly from setbacks or distractions. By failing small, you can always recover in the next quarter.
Pareto’s Principle
Pareto's Principle, also known as the 80/20 rule, is a concept that approximately 80% of the effects or outcomes result from 20% of the causes or inputs. In other words, a small portion of the factors or efforts often contributes to the majority of the results.
Occam’s Razor
Occam’s razor states that when faced with several possible explanations for a phenomenon, the one that requires the fewest assumptions is most likely to be correct.
The Door Test
The door test is used to distinguish between decisions that are difficult to reverse or have long-lasting consequences (one-way door decisions) and those that can be easily reversed or corrected (two-way door decisions).
One-way door decisions need to be made carefully whereas two-way door decisions can be made quickly or automated using rules.
Higher Order Decisions
We are constantly faced with problems to solve and decisions to make. A helpful tool when faced with multiple tasks at hand is to ask yourself: What is the one thing I can do that will make everything else easier or unnecessary?
This helps unpack and prioritise the tasks at hand and determines the right sequence to do them in order to achieve maximum results with the least amount of effort.
First Principles
First principles thinking is a problem-solving and decision-making approach that involves breaking complex issues or concepts down to their fundamental, foundational elements. It encourages examining a problem from its most basic components to gain a deeper understanding and arrive at innovative solutions.
Subtract To Solve
Far too often, we convince ourselves that things need to be difficult and that if we aren’t in some sort of mental or physical turmoil, then we are doing something wrong or not trying hard enough. As a result, we can sometimes actively seek out the path of most resistance and intentionally make things more complicated than they need to be
Subtract to solve is a concept of removing or subtracting something to simplify a situation, or solve a problem.
Cost Per Use
Cost per use is an effective model to alleviate the cognitive load of making purchasing decisions.
The value of an item is directly related to how much use you can get out of it. This helps you determine if spending more money would make sense. The more you use something, the more you should expect to pay for it.
Regret Minimization
Regret minimization is a decision-making principle that encourages individuals to make choices in a way that minimizes the potential for future regrets.
It's often associated with life and career decisions, particularly when making choices that involve risks or significant changes.
The idea is to make choices that align with your long-term goals, values, and desires, so you are less likely to look back with regret in the future.