Investor behaviour is not just about your own philosophies and ideas about money, as discussed in recent posts. It’s also about how you interact with other people and their own financial philosophies.
This can depend on things like whether you’re a big picture or details oriented person, and whether your focus is on process or outcomes.
Big picture/outcome-based people may have the ambitious ideas for a project and its achievements, but have a more limited grasp on how to make those outcomes happen, or have a ‘do whatever needs to be done’ attitude. A details oriented person may be so focused on the next action that they are less clear on where all the steps are leading.
It’s important to know which personality type you are because you need to know how to work with others to work smoothly and achieve common goals (whether in relationships, business or even sports). You have to accept others, whether they share your approach or take on the opposite characteristic, to best know how to use their strengths in your joint efforts.
Big picture vs process can be a mismatch unless each party recognises the strengths of the other, and they work together to balance their different approaches to get process and outcomes to work effectively together.
If your team or partnerships have more of one personality type than the other, the result can be imbalance and ineffective decision making. Marrying a clear goal with clear steps to reach that goal can produce better outcomes, sooner, to the benefit of all.
Being conscious of your own approach and that of your team allows you to make choices and create a strategy to ensure balance – and therefore progress towards your goal – is achieved.
Elite Daily has looked at some of the pitfalls for big picture thinkers, including the dangers of unbridled optimism and how all-outcome-no-detail thinking can be a challenge for those who like more meticulous plans.
Of course, you can also work on your own ways of thinking to incorporate more detailed thinking or broader perspectives in what you do. Chris Denny from Attention to Detail discusses on YouTube how the approaches don’t have to be mutually exclusive. Skillpath also suggests some ways to expand your horizons or get more organised with the details.
Latest posts by Louis van Coppenhagen (see all)
- The simple test to reveal why you’re not making money - January 18, 2020
- Creating partnerships with big-picture and detail-oriented thinking - November 22, 2019
- The good news about IPO failures - October 31, 2019