DECISION MAKING - Think like a Poker player

In her book, 'Thinking in Bets: Making Smarter' Decisions When You Don't Have All the Facts', Annie Duke (a former world series of Poker champion), makes the argument that we need to remove emotions out of our decision making process as much as possible.

She believes this strategy should be applied by decision makers be it in: securities trading, strategic planning, HR, law or entrepreneurship. This, she says, helps us get out of the traps between decisions we'd like to be making and the execution of those decisions that... thinking in bets will improve decision making throughout our lives as we become better at separating 'Outcome Quality' from 'Decision Quality'. The idea being, that this will lead us to become rational decision makers. That we must learn to recognise two things that determine how our life turns out: the quality of our decisions and luck. Then we need to learn to recognise the difference between the two. Failure then becomes less scary. For eg. did you win because of the quality of your decision or simply because of luck? She argues that bad outcomes don't mean that you made a wrong decision; just that the cards were stacked against you...

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This decision making trait is one I often see in clients leading fast growing startups. They have this "elite athlete" way of thinking which in most cases, works when it comes to the bottom line. And, just like top professional poker players, these leaders also seem able to know when to walk away from the (poker) table. Learn more about out coaching services: Executive Global Coaching HOMEPAGE

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