🧩Real-Life Business Cheat Codes🔥
(Take what you need - Leave what you don’t)
Occam’s Razor The easiest answer is usually the right one. If we have a lot of guesses, picking the one that is simplest and needs the least amount of extra effort can go a long way.
Hanlon’s Razor The whole concept of “don’t attribute malice to ignorance.” We might think people are being rude, but often they are just not aware or don’t know better.
Pareto Principle (80/20 Rule) 80% of results come from 20% of the work. Focus on the stuff that has the biggest effect.
First Principles Thinking Break down hard problems into their smallest parts, and then build up solutions from scratch. This can help us avoid guessing or assumptions.
Dunning-Kruger Effect People who aren’t good at something often think they’re better than they really are. A gentle reminder to us all to stay humble and maintain an open mind.
Confirmation Bias We often look for and believe information that agrees with what we already think while ignoring information that doesn’t agree.
Sunk Cost Fallacy We all make bad decisions (hey, we’re only human!). But just because we’ve put a lot of time, money, or effort into it, it doesn’t mean we should keep going with it. Sometimes, it’s better to let it go and put that money, effort, and time into something else (not something we’ve already done in the past that hasn’t worked).
Cognitive Dissonance That weird feeling when we have two or more different thoughts or beliefs at the same time. The good news? This feeling often makes us want to change how we think or act to feel better.
The Law of Diminishing Returns This rule says that if we keep adding more of one thing, while everything else stays the same, we’ll eventually get less back for each thing we add.
Availability Heuristic We often think that things that we remember easily or things that happened recently are more likely to happen again. (Usually, this is influenced by how recent the memories are or how strong our feelings were about them.)
Anchoring Bias This happens when making decisions and we pay too much attention to the first piece of information we hear.
Which one has proven true for you?