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How to Make Better and Smarter Decisions

Daily Ticker
How to Make Better and Smarter Decisions

10,000: that’s the number of decisions each one of us makes every day, according to economist and best-selling author Noreena Hertz. Some are trivial – 227 decisions alone are based on food – and others are potentially life altering.

How we make our decisions and the factors that influence them is the basis of Hertz’s new book, “Eyes Wide Open.” She interviewed corporate executives, hedge fund honchos, ER surgeons, government officials, Hollywood moguls and fighter jet pilots as part of her research and distilled their advice and experience in to 10 easy steps that she says will make all of us capable of making smarter and better decisions in our professional and personal lives.

Some of the steps are obvious, such as getting enough sleep (“If you don’t get enough sleep it’s like making decisions drunk,” she notes) – and others, like taking a “digital Sabbath,” have been recommended before on this show.

The Daily Ticker asked Hertz to pick the biggest mistakes that could sabotage our decisions and cause potential blunders on the job. Watch the video to see how disastrous reading email can be to our decision-making process! (Below are Hertz's strategies for improving how decisions are made)

  1. Take experts off of their pedestals
  2. Shake things up
  3. Give yourself sufficient time and space to think
  4. Beware the form in which you're receiving your information
  5. Tap into the wisdom throughout your organization
  6. Don't assume tomorrow will look like today
  7. Set your decisions against a blank canvas
  8. Gather intelligence innovatively
  9. Get enough sleep
  10. Carry out regular audits of your emotional state

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