Mental Model #5: Stay Within 40-70%. This is Colin Powell's rule. Make a decision with no less than 40% of the information you need but no more than 70%. Anything less and you are just guessing; anything more and you are just wasting time. You can replace "information" with just about anything, and you will realize that this mental model is about encouraging quick yet informed decisions.

Mental Model #6: Minimize Regret. Jeff Bezos developed what he calls the regret minimization framework. In it, he asks one to visualize themselves at age 80 and ask if they would regret making (or not making) a decision. This simplifies decisions by making them about one metric: regret.

https://bit.ly/mentalmodelshollins

Show notes and/or episode transcripts are available at https://bit.ly/self-growth-home

Peter Hollins is a bestselling author, human psychology researcher, and a dedicated student of the human condition. Visit https://bit.ly/peterhollins to pick up your FREE human nature cheat sheet: 7 surprising psychology studies that will change the way you think.

For narration information visit Russell Newton at https://bit.ly/VoW-home

For production information visit Newton Media Group LLC at https://bit.ly/newtonmg

#JeffBezos #MinimizeRegret #overgeneralize #PeterHollins #TheArtandScienceofSelf-Growth #RussellNewton #NewtonMG #ColinPowell #MentalModels

Jeff Bezos,Minimize Regret,overgeneralize,Peter Hollins,The Art and Science of Self-Growth,Russell Newton,NewtonMG,Colin Powell,Mental Models,