MAXIMIZING AND SATISFICING
DO YOU THINK OF YOURSELF AS A PERFECTIONIST?
When you work on a project, write a report, or draft an email, do you ever find yourself hung up on making it perfect? Using the best word choice, making it the right length, agonizing over the tone? How much time do you spend re-working your work?
This inclination towards perfectionism is often found in high achievers and is also referred to as “maximizing.” Maximizing and satisficing are approaches to decision making that I learned about in The Paradox of Choice written by Barry Schwartz.
Some feel that a focus on perfection has helped them be successful academically and at professionally. The downside is that a drive towards perfection can result in feeling overwhelmed with too much to do and not enough time. This may ultimately lead to burnout.
THE PARETO PRINCIPLE
In 1906, economist Vilfredo Pareto realized that 80% of the land in Italy was owned by 20% of the population. Since that time, the 80/20 rule (also known as The Pareto Principle) has been applied in a wide range of areas where it is believed that 80% of the results typically come from 20% of the input.
Some examples include:
20% of your clients provide 80% of your sales.
20% of your effort completes 80% of a project.
You wear 20% of your clothes 80% of the time.
In terms of productivity, it is important to recognize that seeking perfection (chasing after 100%) can be a poor use of time. If 20% of your effort provides 80% of the result, chasing 100% (or maximizing) can be a waste of energy and resources. Clearly, there are some professions where this would not be the case (surgery and air traffic control come to mind.) Spend your time wisely.
SATISFICING
If you are not seeking perfection, when do you decide that your work is "good enough?" You want to be proud of your work product, clear in your communications, and effective in your job.
You should feel that what you have finished reflects positively on you. It's a subjective measure and only you can decide when something is finished.
As you improve at stopping short of perfection, you will be able to get more good work done in less time with less stress and a positive outcome. This is satisficing…knowing when to stop, even when something is not perfect.
From The Power of Good Enough, published in The Atlantic:
One of my favorite Schwartzisms is this: If you ever aren't sure if you attended the very best party or bought the very best computer, just settle for "good enough." People who do this are called "satisficers," and they're consistently happier, he's found, than are "maximizers," people who feel that they must choose the very best possible option. Maximizers earn more, Schwartz has found, but they're also less satisfied with their jobs. In fact, they're more likely to be clinically depressed in general.
Before you get caught up in creating the “perfect” holiday season, ask yourself how might you be able increase your happiness by satisficing?
COMING IN FEBRUARY!
On February 4, 2020, Tracy Fink of The Tortoise Institute and I will be holding a full-day workshop, “Evidence-Based Negotiations: How to Get More of What You Want at Work, at Home, and in Life.” Come join us (early bird pricing until January 15, 2020.)
WANT MORE PRODUCTIVITY TIPS?
Check out Super-Productive: 120 Strategies to Do More and Stress Less.
Available on Amazon.
