Below is a lesson from Mark C. Crowley's Lead From the Heart podcast on making smarter judgments and wiser decisions, as well as our key learnings.

The Blue Courage team is dedicated to continual learning and growth.  We have adopted a concept from Simon Sinek’s Start With Why team called “Learn, Share, Grow”.  We are constantly finding great articles, videos, and readings that have so much learning.  As we learn new and great things, this new knowledge should be shared for everyone to then grow from.

SAUL PERLMUTTER: HOW TO MAKE SMARTER JUDGMENTS & WISER DECISIONS

In the April 19, 2024 episode of the Lead From the Heart Podcast with Mark C. Crowley, guest Paul Perlmutter shares valuable insights on making smarter judgments and wiser decisions. Emphasizing the importance of balancing rational thinking with emotions, Perlmutter discusses how emotional intelligence is a key factor in effective decision-making. Drawing from past experiences and seeking diverse perspectives are highlighted as essential sources of decision-making wisdom, while cautioning against common traps like overconfidence bias. Perlmutter emphasizes the significance of embracing uncertainty and staying flexible in navigating complex situations. Ultimately, he underscores the role of emotional intelligence in connecting with teams and understanding their perspectives, citing empathy and self-awareness as crucial components for making wise decisions.

Listen to the full podcast here.

Key Learnings:

1. Embrace Uncertainty:
• Uncertainty makes people uncomfortable, but it can be used to have confidence in decision-making.
• Shifting from needing absolute certainty to being successful with varying degrees of confidence is crucial.
• Providing estimates of certainty allows for better decision-making and encourages consideration of alternatives.

2. Calibrated Confidence:

• Giving calibrated confidence levels helps others understand the degree of certainty in decisions.
• Overconfidence and underconfidence can both be detrimental. It's important to be well-calibrated.

3. Leadership Approach:

• Effective leadership involves being transparent about uncertainty and having backup plans.
• Leaders who are overly confident risk losing credibility if they are proven wrong.

4. Venture Capitalist Approach:

• Emulating the probabilistic approach of venture capitalists can help in decision-making.
• Investing in multiple options with varying degrees of risk can lead to success.

5. Continuous Learning:

• Foster a growth mindset by encouraging continual learning and testing of assumptions.
• Research groups provide a space for collaborative learning and questioning.

6. Third Millennium Thinking:

• Real progress comes from teams working together to solve problems.
• Success is not about individual heroics but about collective problem-solving.

7. Leadership Traits:

• Effective leaders are open-minded, curious, and willing to listen.
• Bullheadedness and overconfidence can derail leadership careers.

8. Problem-Solving Culture:

• Surround yourself with people who challenge your ideas to avoid self-deception.
• Cultivate optimism in problem-solving to persist in finding solutions.

9. Closing Thoughts:

• Leadership is about leading from the heart and building connections.
• Encourage sharing knowledge and fostering gratitude within teams.
• Gratitude to team members and sponsors for their support.

10. Encouragement to Share:

• Encourage sharing the podcast with others to continue building the audience.