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You're probably familiar with FOMO.
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[This guy invented the term]
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That's short for "Fear Of Missing Out."
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It's that feeling you get
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when it seems everyone else
is doing something better
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than what you're doing now.
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But there's another FO
you need to know about,
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and it's far more dangerous.
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It's called FOBO,
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and it's short for "Fear
Of a Better Option."
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[The Way We Work]
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We live in a world of overwhelming choice.
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Even decisions that used to be simple,
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like choosing a restaurant
or making everyday purchases,
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are now fraught with overanalysis.
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Technology has only made
the issue more pronounced.
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If you want to buy a pair
of white shoelaces online,
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you have to sort
through thousands of items
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and read through hundreds of reviews.
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That's an astounding amount
of information to process
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to just buy two pieces of string
that cost less than your morning latte.
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Chances are you've experienced
FOBO when you've struggled
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to choose just one from a group
of perfectly acceptable outcomes.
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It's a symptom
of a culture which sees value
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in collecting and preserving
as many options as possible.
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You might wonder
why all of this is so bad.
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It seems counterintuitive.
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Shouldn't it be a privilege
to have so many good options
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to choose from?
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The problem is, FOBO induces
such severe analysis paralysis
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that it can negatively impact
both your personal and professional life.
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When you can't make
decisions with conviction,
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you waste precious time and energy.
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Luckily, there is a way to overcome FOBO.
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Here's a secret.
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With any decision you make,
you first have to determine the stakes,
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as this will inform
your decision-making strategy.
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When it comes down to it,
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you only really face three
types of decisions in life:
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high stakes, low stakes and no stakes.
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Let's start with no-stakes decisions.
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These are the minor details of life,
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where there is almost
never an incorrect answer,
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and in a few hours,
you won't even remember
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making the decision.
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A good example of this is
choosing what to watch on TV.
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With thousands of shows,
it's easy to get overwhelmed,
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yet no matter what you pick,
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the consequences
are basically nonexistent.
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So spending more
than a few moments on FOBO
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is a massive waste of energy.
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You just need to move on.
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When it comes to no-stakes decisions,
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the key is to outsource them
to the universe.
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For example, you can whittle down
your choices to just two
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and then flip a coin.
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Or try my personal
favorite -- ask the watch.
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Assign each one of your choices
to one half of your watch,
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then let the second hand tell you
what you're going to do.
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Looks like I'll be having the fish.
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That brings us to low-stakes decisions.
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These have consequences,
but none are earth-shattering,
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and there are plenty
of acceptable outcomes.
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Many routine things at work,
like purchasing a printer,
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booking a hotel or choosing
between possible venues for an off-site
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are classically low-stakes in nature.
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Some thinking is required,
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but these aren't
make-or-break deliberations,
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and you'll probably forget
about them in a few weeks.
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Here, you can also
outsource decision-making,
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but you want some critical
thinking involved,
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as there are some stakes.
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This time, you'll outsource to a person.
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Set some basic criteria,
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select someone to present
a recommendation,
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and then take their advice.
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Make sure to avoid
the temptation to canvass.
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Your goal is to clear your plate,
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not to kick the can down the road.
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Now that you tackled low-stakes
and no-stakes decisions,
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you've created the space
and time you'll need
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to handle high-stakes decisions.
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These are things like
"which house should I buy"
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or "which job should I accept."
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Since the stakes are high
and there are long-term implications,
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you absolutely want to get it right.
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Before we get to work,
let's establish a few basic principles
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to guide you through the process.
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First, think about
what really matters to you,
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and set your criteria accordingly.
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Second, gather the relevant facts.
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Make sure you collect data
about all of the options
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so you can be confident
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that you're truly making
an informed decision.
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And third, remember that FOBO, by nature,
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comes when you struggle to choose just one
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from a group of perfectly
acceptable options.
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So no matter what you choose,
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you can rest assured
that the downside is limited.
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Now that you've established
some ground rules,
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the process can begin.
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Start by identifying a front-runner
based on your intuition,
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then compare each of
your options head-to-head
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with the front-runner one-by-one.
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Each time, choose the better of the two
based on the criteria,
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and discard the other one.
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Here's the trick to avoiding FOBO.
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When you eliminate
an option, it's gone forever.
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If you keep returning
to discarded options,
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you risk getting stuck.
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Now repeat this process
until you get down to one final choice.
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If you follow this system,
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you will usually end up
with a decision on your own.
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On the rare occasion that you get stuck,
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you will outsource the final decision
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to a small group of qualified
people who you trust
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and who are equipped
to provide you with guidance
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on this particular topic.
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Engage a group of five or less,
ideally an odd number of people
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so that you have a built-in
tiebreaker if you need it.
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Now that you've made your choice,
one last challenge remains.
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You have to commit.
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I can't promise you that you'll ever truly
know if you've made the perfect decision,
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but I can tell you this:
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a significant percentage
of people in the world
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will never have to worry about FOBO.
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Unlike the billions of people
who have few options, if any,
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due to war, poverty or illness,
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you have plentiful opportunities
to live decisively.
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You may not get everything you want,
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but the mere fact
you get to decide is powerful.
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In fact, it's a gift.
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Make the most of it.