The Availability Heuristic

Hey guys, my name is Dallas Pruitt and welcome to the Daily Drip here on the Growthcast presented by the Multifamily Mindset. You'll hear me say these words often, air ridden thinking. Today I wanted to get very specific about a mental error that sways so many people from making good decisions. The technical name of this mental error is the availability heuristic.

What this error refers to is a common mistake that our brains make by assuming that the examples that come to mind easily are also the most important or prevalent things. Let me give an example. Plane crashes make many people afraid of flying. However, the likelihood of dying in a car accident in your day-today is far higher than dying as a passenger on a flight.

Here's the truth. Oftentimes we can overvalue and overestimate the impact of things that we can remember, and we undervalue and underestimate. The prevalence of the events we hear nothing about today is simply a reminder to not give into as often this mental error of the availability heuristic, or rather when you are caught in this error, right?

Recognize, increase your level of recognition or awareness and recognize what is happening so that you can continue forward with a prime. Perspective. The goal is to make as many logical, well considered strategic decisions as possible. That's what produces growth. That's when growth happens. However, the truth is oftentimes we make mental errors that derail our thinking and cause us to make poor or lesser decisions.

The invite today is to understand better the mental, the specific mental errors you make, like the availability heuristic specifically today, and lessen the likelihood in the future of you making an emotional, irrational, or confusing choice. Again, today is not about becoming perfect with this. In fact, I don't believe.

Really possible, right? Our brains look for shortcuts. Our brains look to protect us. But today, however, the invite is to, and the reality is, you can and should increase your level of self-awareness regarding the availability heuristic. That is something that is extremely possible and necessary. Again, if you're looking to grow.

Growth is spur from making better decisions, right? Hopefully today's drip can help you to better spot this specific error as you continue to navigate life and all that you are looking to accomplish.

Have a great day, everybody. We'll see you guys back here again next time.