You have to choose between 3 holiday gifts this year. Your holiday wish and greatest goal in life is to achieve fame and fortune. Which gift do you choose?
A leading role in a movie with Ryan Gosling and Charlize Theron
$10 billion and three mansions: one in Paris, one in NYC, and one in the Maldives
The Hope Diamond, worth $250 million and gifted to you by current owner, The Smithsonian Institution
3. The Hope Diamond
Why? Your holiday wish and goal in life is to achieve both fame and fortune.
Answer 1 cannot be right because starring in a film, even with well-known actors, does not guarantee you would make a fortune.
Answer 2 cannot be right because although you have billions of dollars in cash and assets, you have not achieved any fame.
Answer 3 is correct because at $250 million, The Hope Diamond is certainly worth a fortune, and because it is one of the most famous diamonds on the planet, its history of ownership is thoroughly recorded in history books and any future ownership changes would be a worldwide news event. This would give you fame as its new owner. Answer C would meet both of the objectives of your holiday wish.
Did you get it correct? Great job! Odds are though that you focused on one of the single objectives and weighed it more heavily than the other even though your goal is to achieve both.
The art of decision making starts with developing objectives and classifying them as objectives you MUST meet versus objectives that are just nice-to-haves. When weighing the list of options against the objectives, options that do not meet all of the MUST criteria are immediately eliminated. Using a structured decision making process makes it easy to select a results-oriented option and removes any pre-conceived biases.
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