Do you ever get tunnel vision when making important choices? Too often, we look closely at the upside or risk of a single decision, and we never stop to look at the possibilities that will disappear once we’ve made a choice.
On this episode of the Rigging the Game podcast, Dan covers the third commandment — every decision has an infinite number of trade-offs — including the TIMER acronym for all the currencies we have at our disposal, how to optimize before maximizing to find the most efficient path forward, and the consequences we run into when we don’t look at the trade-offs involved in our decisions. Join the conversation for another commandment that will help you play your game and achieve even more clarity.
- What possibilities we remove when we choose to invest in something, and how to use that concept to make better investments.
- Why the business school idea of “maximizing first” often won’t apply to you.
- How to recognize when you can turn a “no” opportunity into a “yes” opportunity, and what to evaluate as you make your decision.
“We tend to view these opportunities that we face through this lens of ‘more’ and maybe fear of missing out. And so what if I don't capitalize on this? What's going to happen?...But what is the trade off? What could I be doing that's going to be a better use of my precious resources, because they're scarce?”
Visit Dan Nicholson’s website - Nth Degree CPAs and the Rigging The Game to learn how he helps small business owners cultivate good accounting and tax practices to achieve their financial goals.
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