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Trust your gut or not - all about executive decision making

Stories of Success Podcast

Release Date: 02/20/2020

The story of a professional speaker in times of Covid19. show art The story of a professional speaker in times of Covid19.

Stories of Success Podcast

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Stories of Success Podcast

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Stories of Success Podcast

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This was a great recording with an industry friend around various topics. Not only did we discuss media, but we more-though spoke about what it means to have a burn-out and to live with anxiety, not only during the Covid19 crisis.

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Stories of Success Podcast

This is a solo episode. First time I record on my iPad, and I hope the quality is ok. 

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In this week’s podcast I welcome Al Gerrie who is the Founder and CEO of ZigZag Global, a software solution to help e-commerce retailers manage returns domestically and globally. We recorded this at the peak internet time during the first week of national office closures due to the Corona virus, and unfortunately the connection dropped a few time. 

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Stories of Success Podcast

My podcast this week is with a former colleague and friend Luis Esteban. Not often do I ask colleagues to be on the podcast, but after meeting Luis Esteban last year, we just hit it off and have so many things in common. Luis is now CEO of Initiative Spain, and I moved on too. His Twitter handle is @lesteban

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In this week’s episode I welcome Dr. Gleb Tsipursky. We recorded it on a Friday night without having had a chance to talk about his topic in great detail before. What attracted me to Gleb's profile is that he is on a mission to protect leaders from dangerous judgement errors - widely known as cognitive biases. So his expertise is around decision making and gut instinct, and actually not relying on your gut instinct.
 
An interesting episode where Gleb speaks about his life and how he came to the US from Moldovia as a child, a country which seems to be one of the unhappiest in the world. He shares his story how he started being interested in decision making based on his personal story, the dot.com boom and bust as well as his research.
 
He recently published his book Never Go With Your Gut, How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters (Avoid Terrible Advice, Cognitive Biases, and Poor Decisions)  in which he summarises his findings.
 
Gleb argues that our gut feelings haven’t adapted to the modern world, but still have the instincts from our ’savanna days’. Therefore, if we rely on our gut feelings, we make the wrong decisions as they aren’t good decisions in today’s world anymore. That’s where the cognitive bias comes in too.
 
In order to make better decisions he suggests to follow a basic 5 step process:
  1. What Information didn’t I yet fully consider?
  2. What dangerous judgement errors haven’t I yet addressed? 
  3. What would a trusted advisor suggest I do?
  4. How have I addressed all the ways how it could fail?
  5. What information would you hold to change your mind?
This decision making process should overwrite your gut, particularly for major decisions. His book goes into more details, however listen carefully to his examples in the podcast which are fascinating. It shows how the confidence level changes due to cognitive bias. It goes in line with how the body mind connection is helping you to be more positive and confident for instance; we discuss how Emotional Intelligence (EQ) can or cannot help us to make better decisions too. It’s important to understand our instincts and how to connect them to our behaviour.
 
We conclude on discussing how the CEOs of this world hear from Gleb about not listening to their gut or their instincts, which they probably like, yet it goes against latest trends. I hope you enjoy this conversation as much as I did, as it is a fascinating and insightful. I loved every minute of our discussion!
 
If you want to find out more please please contact Gleb on any of the following channels:
Get a free copy of the Assessment on Dangerous Judgment Errors in the Workplace, by signing up for his free Wise Decision Maker Course.
 
 
This podcast is hosted by Volker Ballueder (Ballueder Partners), a trusted advisor, business consultant and mindfulness trainer. Volker wrote a book on productivity and life improvement #BeBetter. He launched his bestselling book Principles for Success, based on the interviews on this podcast, in 2019. 

If you are interested in working with Volker Ballueder as an advisor, coach or consultant, please reach out to him via email (volker@ballueder.com).