#45 Know When to Maximize—and When to Satisfice
Just like optimism vs. pessimism, there's another spectrum that every builder, founder, or product person lives on: Maximizing vs. Satisficing. In behavioral economics, a maximizer tries to achieve the best possible outcome. For example: spending hours to find the absolute best hotel for your vacation. A satisficer, on the other hand, picks the first option that meets their basic requirements—and moves on with their day. When developing products, it's incredibly useful to know where you fall on that scale because: There’s not simple answer when to apply which strategy. ...