Dr Gleb Tsipursky, Avoid Decision Disasters – InnovaBuzz 271
Dr Gleb Tsipursky, Never Go With Your Gut
In this episode, I’m really excited to have as my guest, Dr Gleb Tsipurski of Disaster Avoidance Experts and author of Never Go With Your Gut: How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters. In this book, Gleb focuses on the dangerous judgment errors known as cognitive biases in business leadership and reveals how leaders can overcome these mental blindspots to make the wisest and most profitable decisions.
In our discussion, Gleb and I talked about:
- Aligning emotions with values, culture, and long term goals, and at the same time not basing decisions on emotions
- Shared his eight-step decision-making framework to overcome any cognitive biases that might otherwise impact decisions
- His five key questions to avoid decision disasters
Listen to the podcast to find out more.Decision-making is a skill that is applicable across all domains. Your growth in this skill will help you not only in business but in life as well. @Gleb_Tsipursky on #InnovaBuzz podcast Click To Tweet
Show Notes from this episode with Dr Gleb Tsipursky, author of Never Go With Your Gut
Key points and takeaways from this episode include:
- Going with your gut means believing and doing something that you feel is true.
- Many top-level business leaders and entrepreneurs are optimistic. They have exaggerated expectations about the future which helps them inspire but also calls them to make wrong decisions about the future. They have exaggerated expectations about other people which helps uplift those people but also causes a great deal of conflict as a result. They take opportunities that they really shouldn’t take. Sometimes, they’ll strike lucky but very often, they don’t.
- People who are more optimistic tend to succeed more but also tend to fail more.
- Survivorship bias is looking at evidence that you have and ignoring evidence that you should have but you don’t.
- Being very smart is necessary but not sufficient. Being very hardworking is necessary but not sufficient. You also need to be very lucky. There are people who are very smart and hardworking but are not lucky because the chance of someone being smart, hardworking, and lucky is very small. This is not the model that you want to emulate.
- Cognitive biases work on the level of emotions. Our emotions determine 80-90% of our decision making.
- Avoid rationalisation.
- Surround yourself with different people. Optimists work best with pessimists. Pessimists are terrible at coming up with ideas but are great at evaluating ideas. They improve them and take them on to something that will make a sizeable impact in the future.
- Your emotions should determine your long-term values and goals.
- 5 Key Questions to Ask for Everyday Decisions
- What important information have you not fully considered? What evidence have you taken into account?
- What dangerous judgement errors have you not yet addressed?
- What would a trusted and objective advisor tell you?
- How do you address all the ways this could fall?
- What information would cause you to change your mind? What evidence would cause you to revisit your decision?
- Confirmation bias means looking for evidence that confirms our beliefs and ignoring evidence that doesn’t.
- There’s a variety of ways that a decision can go wrong. You want to look at these and address them in advance.
- Always look for information that you haven’t considered but might be relevant to the situation.
- 8 Key Steps for Making Wise and Profitable Decisions
- Identify the need for the decision that has to be made.
- Gather all relevant information from a variety of perspectives.
- Decide on the goals you want to achieve.
- Develop clear decision-making criteria for what you want to achieve.
- Generate viable options that can help you achieve your goals.
- Evaluate the difference and outcome over the long term period.
- Implement the option that you chose – think about all the ways it could fail and address them in advance, as well as all the reasons why it might succeed and address all the potential for its success.
- Have clear metrics for evaluating the success of your decision. Track the success of your decision.
- Mental fitness is just as important as physical fitness. Focus on developing healthy mental habits.
- Just reading a bunch of books and not retaining information is not going to make you a life long learner. Figuring out what you’ve learned and how you implement that is what will make you a life long learner.
- Your emotions are flexible and changeable. You can shift your emotions.
- Decision-making is a skill that is applicable across all domains. Your growth in this skill will help you not only in business but in life as well.
The Buzz – Our Innovation Round
Here are Gleb’s answers to the questions of our Innovation round. Listen to the interview to get the full scoop.
- #1 thing to be more innovative – Decrease your amount of fear and anxiety. Fear and anxiety are the biggest blocks to innovation.
- Best thing for new ideas – Work with pessimists.
- Favourite tool for innovation – Trello, morning journaling.
- Keep project / client on track – Overcommunicate. Other people understand and take much less of what we say in the way we say it. Ask them whether they really understood what you are trying to say.
- Differentiate – Align your motivations and emotions with what you are doing. Find meaning and purpose in what you are doing. Make sure that whatever you are doing is something that is fulfilling for you and that there is a balance between your personal life and professional life.
To Be a Leader
Have emotional awareness. Get in touch with your emotions. Figure out where and how they are driving you to make some regrettable decisions. You need to be able to identify those cognitive biases and dangerous judgement errors. Step away from them and employ some simple and effective yet counter-intuitive strategies to make the best decisions for your goals. It all stems from having emotional awareness of your feelings and your mind. That’s what you really need to get in touch with.
Gleb has sent me a long list of people to invite to future InnovaBuzz podcast episodes, so keep listening for those conversations.
Protect yourself from decision disasters and maximize success in business and other life areas. Sign up and get access to the Wise Decision Maker Guide!
- Never Go With Your Gut: How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters
- The Blindspots Between Us: How to Overcome Unconscious Cognitive Bias and Build Better Relationships
Cool things about Gleb
- He enjoys hiking and playing tennis.
- His book “Never Go With Your Gut” won the 2019 “Best Book on Cognitive Biases” award from BookAuthority.org.
- His cutting-edge thought leadership has been featured in over 400 articles he has published and over 350 interviews.