Most people make decisions based on instant gratification, things like Instagram likes, praise from their friends, or enjoyment going to a party and getting drunk. These activities make you feel good in the short term but they harm you in the long-term.
I learned this from Jeff Bezos, he makes all of his decisions based on the 2nd, 3rd, 4th and 5th order consequences of his immediate decisions and actions today -- he’s like a grandmaster chess player who’s making moves now that nobody can understand because the payoff and a grand plan come together 10 years from now.
There was a study done at Stanford called the “Marshmallow Experiment”. They gave children the option to have one marshmallow now -- or -- delay getting a marshmallow for a period of time (around 45 mins) and then get two marshmallows instead.
The children who chose the delayed option were tracked for the remainder of their lives and they performed better in all aspects of life from health and fitness, academic achievements, and financial performance.
How can you improve from this? Every day in business and life, you have to make choices, your life will ultimately be the sum total of these everyday choices, so think to yourself -- What’s best for me long term? Don’t be shortsighted with instant gratification,
think 2, 3, 4 moves ahead.
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