I'm leaving my previous post as is, but I feel that the importance of maximizing positive outcomes merits more discussion, because for people keen on improving their lives, it's an absolutely pivotal concept.
Consider the following phrase:
Maximize positive outcomes at all times.
It's a truism for people who want more of the best things in life. It's a phrase to live by. It's a principle that should never leave your mind.
In the financial world, terms like return on investment, dividends and profit are used to identify the positive outcomes of financial investment. These are important terms, and perhaps we'll discuss them some time, but right now I'd like to point out that because our society is so focused on commerce and financial gain, I feel that the discussion about other positive outcomes can get lost in the mix.
Don't get me wrong, I want to be financially wealthy. I want you to be financially wealthy. But I want prosperity and well-being in other areas of my life as well, and that's why I believe that maximizing positive outcomes at all times is so important.
So, how do we maximize positive outcomes?
Know What You Value
Before you can maximize positive outcomes in you life, you have to have a solid understanding of what you value in the first place. Value is such an important thing to consider throughout all areas of life. How do you decide what you value? A few pointers:
First, if you haven't already figured it out, let me draw your attention to the following:
'Value' is a word that is horrendously misused.
If you understand the word value the way that big-box stores use it, throw that definition in the bin right now. Value has nothing to do with money. If you go to the supermarket, you're sure to see brightly-colored signs in all directions exclaiming that something (24 pack of soda, family-sized box of cereal, etc.) is "great value". This isn't a true statement, because a sale price does not affect the underlying value of the goods being purchased, it only affects the price you buy it for. What the store is actually doing is adjusting the value for money fraction in such a way to make the product seem more attractive to the consumer.
"Value" actually refers to "the importance or preciousness of something". This is what you need to focus on. Think about your life, and think about what is most important and precious to you. These are the things that you value.
This brings me to my second point: Value is completely subjective. You have to take ownership of your life and decide what is important to you. No one, not me, your friends, your coworkers, your parents or anybody else can do this for you. You, and only you, have to decide what you value.
As an example, consider personal fitness. Personally, I value physical endurance. It's important to me because I thoroughly enjoy cycling and riding long distances requires endurance. It is precious to me because without it I may not be able to ride to some of the locations I enjoy riding to.
Does this mean that physical endurance should also be important to you? Absolutely not.
You see. Subjective.
Analyze what you value. Write it down if need be. Once you do that, you're ready to move on.
Think About Potential Outcomes
As you likely do as well, I spend a great deal of time analyzing the potential outcomes of the way I spend my time. When it comes to maximizing positive outcomes, I believe that it is important to consider thoroughly what we stand to gain (or lose) from a particular action. No amount of effort upfront will make an activity worthwhile if the outcomes are inherently invaluable, therefore, we must think about potential outcomes before we take action.
Consider each potential outcome carefully. Each outcome will carry with it a certain amount of value that will be contributed to your life if you achieve the outcome. Using the value judgements you arrived at earlier, you'll be able to decide which potential outcomes are the most attractive.
Maximize Positive Outcomes and Execute Your Plan
Once you've considered each potential outcome, you'll be well prepared to choose a course of action. The course of action that you pursue does not need to be driven by only one potential outcome. Your decision to take a particular course may be derived from the collective value you feel you will receive from pursuing several potential outcomes simultaneously.
This is really where the word maximize comes into this discussion. Remember, you're focused on maximizing positive outcomes. There is a great deal of opportunity for creativity to take place here because there is an infinite number of ways you can mix-n-mash your life to extract the most value.
Consider a typical Saturday. You get up in the morning and decide that you would like to have a bike ride, spend some time with your friends and take a nap.
Let's arbitrarily decide that the above desires have the following value scores.
- Nap - 5 value points / hour
- Bike Ride - 3 value points / hour
- Socialize with Friends - 6 value points / hour
What should you do?
If you choose hastily, you might decide to just pick the most valuable item (socializing) and do it for all the time that you have. Over your allotted 2 hours, this will net you a value outcome of 12.
However, if you focus on maximizing positive outcomes, you'll quickly realize that your desires are not mutually exclusive. You won't be able to nap and take a bike ride at the same time, and napping with friends doesn't won't allow you to socialize, but you can certainly invite your friends to come along for a bike ride. By focusing on maximizing positive outcomes, you've been able to discover a course of action that will provide you with the most benefit.
Let's say you spend 2 hours socializing with your friends, one hour of which you spent cycling with them. Now, over the allotted 2 hours, you have achieved a value outcome of 15. Yay!
I know I've given a silly example, but I hope it has helped to illustrate what I'm talking about. The cruel fact of the matter is that all of us are bound by time and resources. The repressiveness of these boundaries can (and should) be reduced over time as we improve our lives, but in the meantime it is crucial that we make the most of what we have. It's really important.
If you're not already maximizing positive outcomes in your life, give it a try. I've found it to have great utility in my day to day activities, and it helps me get the most value from my time and resources. It's the reason I listen to music while I cook. It's the reason that I go to the gym on my lunch break. It's the reason I'll never drive 30 minutes to the store just to use a coupon that saves me 50 cents.
Most importantly, it's what can help you do more of the things that you value most.