
Dave Smith PhD
Dave Smith PhD (d.d.smith @ mmu.ac.uk) is a former personal trainer and a registered Sport and Chartered Exercise Psychologist at The Health Care and Professions Council (HCPC). He is a Senior Lecturer at Manchester Metropolitan University with research interests in topics like psychological issues in bodybuilding and strength training, psychological skills training (particular imagery), thought and decision making process in sports and other areas.
In this episode, Dave joins me for our Part 3 of our Decision Making series, a series that shows how to make better decisions in life and business. Today, we talk about the importance of skill and luck, why skill differential is key in business success, untangling skill and luck in business, applying mental models for lead conversion, and much more.
232 – Dave Smith PhD – How to make Better Decisions in your Business Part 1
251 – Dave Smith PhD – How to Make Better Decisions in your Business and Life – Part 2
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Show Notes
- 02:07 – Understanding the importance of skill and luck
- 15:34 – Just-world fallacy, formula for success and various examples
- 22:26 – Importance of skill differential in business success
- 26:30 – The role of luck in business in the short-term
- 29:00 – Mean reversion and business/sports examples
- 36:31 – How to know what to focus on – SKILL or LUCK?
- 41:26 – Applying mental models in lead generation and conversion
Selected Links from the Episode
- The Health Care and Professions Council (HCPC)
- Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb
- Washington Redskins
- The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss
- Cognitive Biases
- Just-world Fallacy
- The Paradox of Skill
- Kieser Training
- MedX Machines
- New York Yankees
- Sports Illustrated
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