In this episode, we look at 'hedge pruning', or when you need to keep your options open, and just make small changes to your decisions. We also explore some of the research on the benefits of being a generalist and having a broad range of interests.

KEY TAKEAWAYS

• Trying lots of things and staying adaptable can make us more successful.
• Modern work demands knowledge transfer: the ability to apply knowledge to new situations and different domains.
• Consistently choosing little or big risks in pursuit of our goals rather than trying to always make the ‘right choice’.
• Beware the sunk cost fallacy: where we follow through on an endeavour if we have already invested time, effort, or money into it.

LINKS

The research on kids from small towns being more successful in sport is explored here at Wired.

For a bigger dive into the topic check out David Epstein’s book: ‘Range: Why Generalists Triumph in a Specialized World’.

Another good book that explores, among other things, the myth of the single choice, is ‘Choose Possibility’ by Sukhinder Singh Cassidy.

The sunk cost fallacy is a classic economic bias.

WHAT TO DO?

• Talk about these concepts with other people - this is a proven way to reinforce learning
• Subscribe to How to Choose
• Drop us a line at contact@goodbetterright.com.au

IN OUR NEXT EPISODE...

Next episode we’ll be learning about the dilemma of too much choice and what to do about it.