We all make choices, but in the end, our choices make us – Andrew Ryan

Dear friend,

From time to time, we have to make life-changing decisions. For instance, deciding the major/ subject you will study has far-reaching implications on your life, such as the people you will get to know, the knowledge you will acquire, the companies you will work for, etc.

I usually tell people that I would have studied something different if I had to decide again — not because I disliked studying business but because I failed to elicit all options before making my decision.

Actually, that’s the main cause of sub-optimal decision-making — the failure to elicit all options. We make wack decisions not considering all options because we fail to ask a sufficiently large number of people who already made the decision for their advice. We fail to ask what they liked about their choice, what they didn’t like about their choice, whether they would do it again and why, which alternatives they considered, etc.

Additionally, we usually underly a “confirmation bias”. We tend to just ask people and gather information to confirm what we already believe. For example, I didn’t ask people who became engineers or software developers because not only I didn’t know anyone but also I didn’t want to ask these kinds of people for their opinions.

To make better decisions, we have to ask a sufficiently large number of people (+15) who already made the decision we have to make. The people have to be in a position that’s 2–3 steps ahead of us. For instance, I should have asked people that already obtained their bachelor’s, do their master’s, or are already in their job — not people that just started studying. The people should be picked in order to not only confirm what we believe but also reject that. Based on our findings, we will have many options — many more than what we would have initially thought of.

Imagine you’re about to apply for your first internship. You might already have a rough idea how what your first internship should look like. Ideally, though, you don’t apply to randomly select companies but first research 20–30 people in your network and on LinkedIn who already had a few internships. You get in touch with them and ask them for a quick call/ coffee chat. You prepare a few questions and ideas you want to validate with them, such as your expectations of a certain role in a certain industry. After talking to +15 people, you will have a great understanding of the relevant options and can make a good decision.

Practical advice

  • Ask a sufficiently large number of people (+15) who already made the decision you have to make
  • Pick people who not only confirm what you believe but also reject that
  • Based on the findings, you can make a good decision