Master the Decision Making Process With Matt Bodnar
Summary: Do you hate making a decision? Sometimes the fear of making a decision means we miss out on a good opportunity. Today we will get you off the fence and show you how to master the decision making process with Matt Bodnar.<br> We make dozens of decisions every day. Some of them are minor like what to wear to work, and some are major like deciding between buying a <a href="https://www.listenmoneymatters.com/realtyshares-review/">rental property</a> or a house to live in. When you learn to master the decision-making process you can improve every aspect of your life, your job, your health, your relationships and not least of all, your finances.<br> A Fellow Podcaster<br> Matt Bodnar, named to Forbes “30 Under 30 List,” has been called a “Rising Restaurateur Star” by the National Restaurant Association and a “Strategy Pro” by Restaurant Hospitality Magazine. He is a partner at early stage investment firm Fresh Hospitality where he focuses on deal-making and strategy.<br> Matt is also the creator and host of “The Science of Success” a #1 New & Noteworthy podcast, with almost one million downloads. The podcast is focused on improving decision-making, understanding psychology, and sharing insights from experts.<br> Matt previously worked as an import/export consultant in Nanjing, China and spent several years at Goldman Sachs before returning to his family roots in the hospitality space.<br> The Great Investors<br> Matt became very interested in what commonalities the world’s great <a href="https://www.listenmoneymatters.com/investment-strategy/">investors</a> like<a href="https://www.listenmoneymatters.com/warren-buffett-quotes/"> Warren Buffett</a> and Charlie Munger had in common. Was it that they were smarter than everyone else? Was the ability to make money through investing some innate trait they were merely born with?<br> Through his research, Matt concluded the one thing not only all great investors but all successful people in any pursuit shared was the ability to make the right decisions.<br> Compound Decisions<br> We know how powerful compounding interest is when it comes to growing our money. We can use that same power when it comes to improving our decision-making abilities.<br> If we strive to make our decisions just 1% better each day, every part of our lives those decisions touch will improve.<br> How do you make that 1% improvement? By having as much information as you can, that will help make a decision. If you’re trying to decide between two job offers you want to know what the pay is, what the benefits, both financial (<a href="https://www.listenmoneymatters.com/401k-deep-dive-chris-costello-blooom/">401k</a>, insurance benefits) and non-monetary (vacation time, flex scheduling, telecommuting) are. What is the culture like at each company? What do you want out of a new job?<br> Really grill yourself when you have to make a decision so you can pull out the answers that will help you make the correct decision.<br> Analysis Paralysis<br> Have you ever gone clothes shopping knowing that you need new clothes but without much of an idea of what you want to buy? You spend forever looking and may come away with nothing. That can happen when we don’t have a plan and are faced with too many choices.<br> Analysis paralysis can be, well, paralyzing. We have so many choices and so much information at our fingertips. When you are trying to pick a <a href="https://www.listenmoneymatters.com/simply-wall-street/">stock</a> there is more information available than you could read and much of it; maybe you won’t even understand. But you still have to choose. <br> So you go back to asking yourself questions. Does this company make a product I believe in? Does this company act in ways that align with my ethics? By asking these kinds of questions, you can start to narrow your list of choices down until the right choice becomes obvious.<br>
