Tune into Franchise Business Radio to learn about Decision-Making as a Leader, from David Siegel, CEO of Meetup and author of “Decide and Conquer.”
Tune into Franchise Business Radio to learn about Decision-Making as a Leader, from David Siegel, CEO of Meetup and author of “Decide and Conquer.”
Below are some interview excerpts:
Currie: Tell us about your book, “Decide and Conquer.”
Siegel: I’ve always been obsessed with decision-making. The reason why is because, how many people do you know that have so much trouble making decisions? They let “perfecting” be the enemy of the good. They don’t want to be seen as a failure. So sometimes they don’t try and then they lose the opportunity. They don’t understand. Teddy Roosevelt said, ‘The best decisions are great decisions. The next best decisions are bad decisions. And the worst decision is no decision.’ There are many entrepreneurs that are afraid of making a decision. So, I became obsessed with decision-making generally and different decision-making biases. I decided to write a book, related to leadership, decision-making and the Meetup story as part of WeWork culture and how we extracted ourselves from it. It’s been a really awesome personal experience of being able to meet people who have read the book and find little ways in which it’s helpful for them as entrepreneurs.
Currie: Can you pick one piece of advice that you would give to leaders?
Siegel: Okay, here it is. Know thy self. What do I mean? We’re all highly imperfect. We all have many biases. When making a decision, you might have a bias around status quo bias, which means you’re biased to keep things the way they are because it is the devil you know versus the devil you don’t know. You may have recency bias, which is whatever just happened most recently is overweighted in terms of importance. You might have some cost bias, which is essentially the idea that, I already put so much time into something, I have to put more effort into it, because I just spent two years in a relationship or I spent two years building this company. I can’t extract myself from it. We all have different biases. Know thy self, know what your biases are.
For the complete interview, tune in to FranchiseBusinessRadio.com.
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Pamela Currie has 20-plus years in franchising. As a certified franchise consultant, Pamela helps individuals make an educated and informed decision when selecting a franchise. Pamela enjoys being a resource and partner in helping people find a franchise that aligns for them. Interested in franchise ownership? Contact Pamela, Pam@FranchiseIntellect.com for a complimentary consultation.