Flight Leadership Reflection: "Thinking In Bets"

Wally currently has us reading “Thinking in Bets” by Annie Duke in Flight Leadership.

The premise of the book is the importance of separating the quality of a decision from the outcome.

In 2021, we made many bad decisions overpaying for single family homes that had great outcomes because of record home price appreciation.  Bad decisions with good outcomes.

In 2023 we bought a lot in the west side, from the time we bought the lot, to the time when the house was on the market, new inventory in that area dropped 15% in value, a deal that would have made 30K at the time of the purchase ended up losing 15K.  Good decision with a bad outcome.

The wisdom to take away from this is that when things are good, wealth, happiness, and success are flowing your way without effort: there are other factors at play, it's not just because you are so great.

When things are bad, you can’t seem to get anything right, mornings are darker, money is being lost: there are other factors at play, it’s not just because you are so horrible.

Give yourself grace, take some of the pressure off, live with more equanimity, refuse to ride the roller coaster up and down.

Set your sights on steady, consistent growth, and live with more peace.