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.
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.