25:45How I Avoid $1M Business Mistakes With This Decision Framework (#477)
From My First Million · Published Jul 4, 2024 · Watch on YouTube
TL;DR
The speaker advocates a "decision register"—a Google Doc where he documents every major decision, including his reasoning, alternatives, emotions, and follow-up dates—to systematically improve judgment. He claims this practice (a few hours twice a year) can accelerate decision-making ability 2–3× relative to normal.
Key insights
- Most people claim to learn lessons but never write down their thinking at the time or what they learned, making it impossible to systematically improve judgment.
- A decision register should include: what the decision was, whether it seemed big in the moment, the one decisive reason for the choice, the outcome, and the lesson learned.
- Many of the biggest life decisions did not feel big at the time (e.g., ignoring a cryptocurrency signal).
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