How I Live My Life With Mental Models

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Compounding

Compounding is when your interest earns interest. It’s the growth on your previous growth. It applies to so much more than just your investments and credit cards.

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Habits

Habits are routines we perform automatically or subconsciously. They save our brain effort by combining a set of actions into an automatic routine. Driving, checking notifications and brushing teeth are all habits we perform without much thought.

  • Make bed.
  • Meditate for 10mins daily.
  • Check my airtable spreadsheet of stuff I want to learn instead of twitter when distracted.
  • Clean dishes immediately after use.
  • Haircut each month.
  • 1 goal for the day.
  • Invert the goal for the day.
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Inversion

Inversion is thinking about problems or situations backwards. Inversion helps you avoid what you don’t want. It’s powerful because it’s much easier to avoid what you don’t want than to get what you do want.

  • Task: how can we not get this done? Don’t waste time there.
  • Vacation: what would make this vacation bad? Ok, don’t do that.

Circle of Competence

Circle of competence is focusing on operating in the areas you know and knowing the areas you don’t know. Shan Parrish said it best…

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Triangulation

Triangulation is gathering and confirming information from more than one source. Triangulation gives you a better perspective, increases the credibility of information and helps you eliminate bias by not relying on one source.

  • I include others in meetings / phone calls to ask questions I don’t think of.
  • I have survey templates ready to go in Mixmax and Airtable.
  • I share the feedback and information I collect with others to generate different arguments.

Confirmation Bias

There are many forms of bias. Confirmation bias is my favorite because it explains why people, including myself do a lot of silly things. Confirmation bias is favoring information that confirms your existing beliefs or biases.

  • You hang out with people that think your awesome (i.e. your Mom 😜).
  • You research all the reasons why your product idea will work.
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Sunk Cost Fallacy

Sunk cost is the cost that’s already been paid and cannot be recovered.

Entrepreneur, product advisor and breakfast taco fanatic based in Nashville. https://jaymehoffman.com/

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