How To Make Better Decisions

Every day, we’re faced with the battle of how to make the best decision.

I’ve collected three rules when I’m at a crossroads that often yield the best long-term gains.

Here they are:

1. Choose the harder path: If you are stuck between the two choices, pick the one with the most short-term pain, as it often has the biggest upside down the road.
   
   Example: A cold shower sucks, but you’ll feel better for hours afterwards
   

2. Would you still do this if you couldn’t tell anyone? One of the reasons I don’t often share what I’m doing on my personal social media is that I don’t want to perform for the applause of others.
   
   Example: I exercise 6 x a week because I want to, not because I want someone to celebrate my latest glute extension exercise I got off the gram
   

3. What would X say if they were watching me? A really simple one, but what would you do if you had a role model watching you?
   
   Example: I’m about to procrastinate on a hard decision that I needed to make a week ago, and Charlie Munger was watching me, I’d like to hope I’d do that hard thing because I want to impress him

I’ve been doing this a lot this week, and hopefully it gives you something to chew on over the weekend, whatever the battle is that you are facing.

How I Market

I’m re-sharing an old marketing tactic I used that still works today.

We used to run a group fitness program at our gym called Tribe.

We realised that anyone who completed more than 12 Tribe sessions in their first month became a long-term member, and these members had a 3x higher LTV.

So we ran a marketing campaign called “get paid to train”. We offered anyone who completed our “program” $100.

The program was just a welcome basket + a month of group fitness training. It was free to do, but the catch was that you had to do 3 sessions a week for a month to get paid.

We ran this campaign monthly. One new cohort per month. 10 people per cohort.

We got tons of interest, and used phone calls to filter for the best leads.

Our cost per lead, including the cost of training people, ended up being about $150. And our conversion rate on those leads was >70%.

Our LTV-to-CAC was ~15:1.

People thought we were stupid for doing it.

But it ended up being stupidly successful.

Probably the best marketing campaign I’ve ever come up with.