Mental Model Cheat Codes — Here’s How to Avoid Making Life Decisions Based on Fear and Anxiety
How to feel secure in making personal and professional choices for success
In past, I knew I wasn’t always at my peak and I allowed emotions to get the better of me when making important life-changing decisions.
To mitigate against impaired thinking I now effectively use mental modes.
Mental models are descriptions of psychological templates that support your thought process. The templates or concepts are unaffected over time and they can be used in different areas of life for immediate results.
Mental modes allow you to think better, learn faster and make more intelligent decisions.
I had made a quick decision, based on hindsight, out of fear and anxiety. I broke a fixed-interested home loan (worth $400,000.) There was a large fee for breaking the mortgage. This hung around my neck like a death sentence for many years. When faced with similar emotions in my career that had stalled, I used the Generalist-Expert mental model (see below for an explanation) in the property industry to land several 6-figure salary jobs.
#1. Do I do more or do I do less
The quality over quantity mental mode is where you look to produce results/products that are high value and low in number, compared to a low-value result/product but produced in a large quantity.
The reason for implementing this mental model is:
- Less competition — for example, they are a huge number of coaches in personal development but there are few quality coaches.
- Builds your reputation — Clients know that leaders in their field know their stuff.
- Develops you as a person through the adoption of higher values — acting from a place of higher values increases your circle of influence.
The quality far weights quantity in terms of output. An example of this would be when digging to find water. You dig 10 shallow holes and don’t find any water. Compared to digging one very deep hole and gaining the reward of striking free water.
An issue I noticed when studying at school was there was a requirement to memorize a large amount of information. Memorization doesn’t allow for proper understanding. As such what was learned was hard to apply in real life.
This way of thinking of quality over quantity allows you to be considered an industry expert.
#2. Are you an expert or a generalist (or both)
“Someone who has the ability and curiosity to master and collect expertise in many different disciplines, industries, skills, capabilities, countries, topics., etc. He or she can then, without necessarily even realizing it, but often by design: draw on that palette of diverse knowledge to recognize patterns and connect the dots across multiple areas. Drill deep to focus and perfect the thinking.” — Orit Gadiesh, chairman of Bain & Co.
The expert-generalist model emphasizes being an expert in several areas. In so doing you are very competent in several spheres of knowledge.
A CEO of a company isn’t the CEO just because he is an expert in one area of business. Not only does the CEO need to know how to read balance sheets and profit and loss statements. The CEO needs to understand marketing, and have an intimate understanding of their product, IT systems, and so on.
In Human Resources they call these T-shape skills or T-shape persons. It has long been used in the job recruitment process. It analyzes the person’s various abilities. The vertical bar on the letter ‘T’ shows the depth of related skills and expertise in 1 field. The horizontal bar is the ability to engage across disciplines with specialists in other areas and the ability to apply that knowledge.
I lacked a formal qualification to work in the property industry which for many years I saw as a major disadvantage. Because I viewed it as a disadvantage, this worked against me.
More born out of frustration and lack of monetary reward, I started to learn other skills such as project management, budgeting, IT, and marketing. I got jobs, still in the property industry but in different areas such as commercial or residential, or retail property markets. With exposure to different areas within the property industry and supported by various skills I was then positioned to take on higher management roles. My salary doubled over a strategically planned 2 to 3-year period.
An important ability when you are an expert in several fields is to be able to forecast across several disciplines as to what can go wrong.
#3. This couldn’t possibly go wrong — or could it?
“Invert, always invert: turn a situation or problem upside down. Look at it backward. What happens if all our plans go wrong? Where don’t we want to go, and how do you get there? Instead of looking for success, make a list of how to fail instead — through sloth, envy, resentment, self-pity, entitlement, and all the mental habits of self-defeat. Avoid these qualities and you will succeed. Tell me where I’m going to die so I don’t go there.” — Poor Charlie’s Almanack by Charlie Munger
Analyze what can go wrong instead of what can go right. Success isn’t only built on processes, values, and vision boards.
When you know potential problems you can either navigate a way to avoid them or have plans in place to deal with them. When problems do arise, and they will, you can quickly pivot to resolve them. Moving with speed mitigates the problem of blowing out to be a business killer.
Being positive can no doubt lead the way, being pessimistic can help avoid any potential issues.
Final thoughts
Employing mental models will launch you on a path to being a thought leader in any field.
Use a few mental models as this allows for objectivity. If you apply a single mental model you may run into the danger of twisting reality to fit the mental model.
Focus on important ideas from large disciplines. This means concepts in the areas of relationships, career, health, passions, and finances as this will assist you the most. Thanks 80/20 rule.
Use mental models to successfully drive your coaching business into unchartered waters with confidence. Mental models will self-empower you to advance your career as I did for myself.
Application is the key to your present and future success.