September 2023 - Peripheral Thinkers™ Newsletter
September 15, 2023
Aloha Peripheral Thinkers™,
I am super happy you are part of our growing Peripheral Thinkers™ community.
Because this newsletter is for you:
If it helps you, ask a friend to subscribe 👉🏽 https://bit.ly/4bIdzNK
If you disagree with something, tell me 👉🏽 paul@pauldanielsjr.com
If something doesn’t click, ask me 👉🏽 hello@pauldanielsjr.com
Surfs up, so let’s go!
🏄🏽♂️😎
A Peripheral Perspective on INFORMATION & DECISIONS
A focus on the content, not the decision-making process
When do you have the right information to make an important decision?
You get both sides of the story. Input from your leadership team. Advice from your peers.
Is that enough?
And is it the quantity, quality, or variety that’s most important?
Quantity—The 40/70 Rule
Former Secretary of State Colin Powell had a particular approach when making a quick decision. He called it the 40/70 rule. He would strive not to decide with less than 40% of the information needed, then ultimately make the decision when he had, at most, 70% of the information.
In Powell’s experience, 70% is enough to make the decision reasonably safe without waiting too long and delaying important decisions.
As leaders, we become comfortable making decisions, monitoring progress, learning and adjusting as needed.
The quantity of information is valuable… to a point. This is why the next logical criterion is the quality of information.
Quality—Information Feast
Colin Powell’s access to quality information is likely more extensive than yours and mine. I don’t have tens of thousands of people mining and collating information. However, that doesn’t always guarantee it is 100% accurate.
You likely appreciate quality information if you have 1, 10, or 10,000 people in your company.
However, beware of your brain’s functions that conspire against quality and accuracy.
According to cognitive neuroscientists, we are conscious of only about 5 percent of our cognitive activity, so most of our decisions, actions, emotions, and behavior depend on the 95 percent of brain activity beyond our conscious awareness. – Auburn University
The average adult makes 35,000 choices per day. 80% of our thoughts are negative, and 95% are repetitive. - National Science Foundation
The subconscious mind doesn’t differentiate between good and bad—it only manifests what you feed it, turning ideas into convictions and translating them into mental affirmations and habitual actions. – Omar Itani
Okay. So, the brain has a bunch of stuff going on. Knowing this, you can establish processes and filters to improve the quality of information you use for decision-making. It should also help you set the appropriate quantity. But quantity and quality information still does not guarantee your business’s future. You need more.
Variety—MORE!
What information are you feeding your conscious and subconscious?
When looking for different inputs, where do you go? Who do you ask? What do you try?
In a Harvard Business Review titled “Fooled by Experience,” their research examines the effect of senior leaders’ experience on decision-making.
“We [senior executives] rely on the weight of experience to make judgments and decisions. We interpret the past—what we’ve seen and what we’ve been told—to chart a course for the future, secure in the wisdom of our insights. After all, didn’t our ability to make sense of what we’ve been through get us where we are now?”
You aren’t one of these Mr./Ms. smarty pants… Are you?
“We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein (the OG smarty pants)
If either of these quotes is like a gut punch or an epiphany, you are in the right place.
The remedy is variety.
You’ve heard that variety is the spice of life. It is also the fuel for growth and innovation.
A 2020 McKinsey report found that companies comprised of people with diverse professional and personal experiences were 35% more likely to have financial returns above their national industry medians.
You’ll find variety where it’s NOT normal for you to look. You’ll find variety from new/uncommon/varied people, places, and experiences.
Look. This isn’t difficult physically or financially. The challenge is mental. The variety you need is often within arm’s reach, around the corner, across the street. Get over yourself. Admit that you need different inputs to reach different results. Then get on with it.
Get you some variety!
TAKEAWAY:
For additional inputs to inform your decisions, start with Variety—the least considered and highest-returning input type. Then, add quantity and quality filters.
Follow that recipe, and you’ll understand what I mean when I say,
“Right now, you can access everything you need to achieve anything you can imagine.”
The sooner you accept that truth, the sooner you’ll discover that variety gives you:
More answers than questionsMore choices than challengesMore options than obstaclesMore paths than problemsMORE!
Until next time, I’ll be looking for you in the Periphery.
🤙🏽
p.s. If you are new or want a refresher, here’s an overview of Peripheral Thinking™ 👉🏽 https://www.pauldanielsjr.com. Click and scroll down to “What is Peripheral Thinking™?”
When you are ready, here are three ways I can help you.
Executive Advisory: Let’s chat if you are a business leader and want to uplevel your and your team’s skills. I’d love to learn more about your company, challenges, and goals. If there’s a fit, I’ll share more about the Peripheral Thinking™ program. 👉🏽 https://www.pauldanielsjr.com/contact . Enter “ADVISORY” in the message.Do you or someone you know need a unique, innovative, transformational keynote for an event? I know a guy. 😎See a sample 👉🏽 https://www.pauldanielsjr.com/speaker. Select “Hold The Date,” and we’ll connect with you to discuss your event.Get a free copy of my chapter from the book: Peak Performance: Mindset Tools For Entrepreneurs. 👉🏽 https://www.pauldanielsjr.com/contact . Select ‘CHAPTER.’ Or buy the whole book 👉🏽 https://www.amazon.com/dp/B0B57KDMJF.
Thank you for making this group a unique, perspective-rich community!
Cheers,
Paul 🤙🏽