Podcast Summary: Help Wanted – How to Lower the Stakes and Make Better Decisions

Episode Details:

• Title: How to Lower the Stakes and Make Better Decisions
• Host/Author: Money News Network
• Released: August 7, 2025

Introduction

In this episode of Help Wanted, hosted by Jason Pfeiffer, Editor-in-Chief of Entrepreneur Magazine, and co-host Nicole Lapin, a money expert, the duo delves into the psychological traps of high-stakes thinking and offers actionable strategies to adopt a low-stakes mindset. This approach aims to alleviate anxiety and foster better decision-making in both personal and professional contexts.

Understanding High-Stakes vs. Low-Stakes Mindset

Jason Pfeiffer opens the discussion by addressing the common scenario where individuals perceive their decisions as make-or-break moments. He emphasizes that this perception often inflates the actual importance of the situation, leading to unnecessary stress and poor choices.

Jason Pfeiffer [03:20]: "We are often wrong about how important things really are."

He introduces the concept of a low-stakes mindset, which encourages viewing decisions with a broader perspective, thereby reducing anxiety and improving outcomes.

Personal Anecdote: The Camp Decision

To illustrate the impact of high-stakes thinking, Jason shares a personal story about deciding whether his 10-year-old son should attend a sleepaway camp.

Jason Pfeiffer [04:15]: "Our son is 10 years old and we really wanted him to go to sleepaway camp... he was hesitant and only willing to attend for two weeks."

His wife, Jen, was fixated on the importance of a prolonged stay, believing that if their son left after two weeks, he might never return.

Jason Pfeiffer [05:00]: "Jen said, 'if he comes home after two weeks, then he's never going back to camp again.'"

This high-stakes thinking made Jen anxious, as she believed the decision was pivotal for their son's future camp experiences.

Identifying High-Stakes Thinking in Various Scenarios

Jason expands on how this mindset isn't limited to parenting decisions but is pervasive in other areas such as career advancements, entrepreneurship, and personal projects.

Jason Pfeiffer [06:10]: "I've heard people say, 'If this book doesn't go well, I'll never be able to write another,' or 'If I don't get this job, my career will be derailed.'"

These statements reflect a distorted view where a single outcome is unjustly elevated to define one's entire trajectory.

The Three-Step Process to Lower the Stakes

Jason introduces a practical three-step process to shift from high-stakes to low-stakes thinking:

1. Start with Your Current Scenario

   • Example: Deciding on camp duration for his son.

2. Imagine Things Not Going the Way You Wanted

   • Example: His son decides to leave after two weeks.

3. Create Three Realistic Positive Outcomes from That Unfavorable Event

   • Example:
     1. His son comes home because he was homesick, but he made great friends.
     2. They arrange playdates throughout the year.
     3. Next summer, he eagerly returns to camp with friends, feeling less homesick.

Jason Pfeiffer [07:45]: "You need to show yourself very logically how something bad can lead to something good."

This exercise helps in recognizing that even seemingly negative outcomes can have positive aspects, thereby reducing the perceived stakes.

Practical Application and Flexibility of Outcomes

Jason emphasizes that life is influenced by numerous invisible factors, making it impossible to predict outcomes with certainty. Acknowledging this complexity allows individuals to detach from the illusion that one decision will dictate their entire future.

Jason Pfeiffer [08:30]: "Outcomes are driven by many invisible inputs... the future is much more flexible and shapeable."

By adopting a low-stakes mindset, individuals can focus on what they can control—their reactions and adaptability—rather than being paralyzed by the fear of negative outcomes.

Conclusion and Takeaways

Wrapping up the discussion, Jason shares the actual outcome of his son's camp experience, highlighting that adopting a low-stakes mindset led to a positive result regardless of the initial decision.

Jason Pfeiffer [09:10]: "Our son did come home after two weeks and we welcomed him with big hugs. He had a great time at camp, made friends, and is open to returning next year."

The key takeaway is that by lowering the perceived stakes, individuals can navigate decisions with less anxiety and greater resilience, ultimately leading to better and more fulfilling outcomes.

Final Thoughts

This episode of Help Wanted offers valuable insights into the psychology of decision-making. By understanding and implementing a low-stakes mindset, listeners can transform how they approach both minor and significant decisions, fostering a healthier and more productive mindset in their professional and personal lives.

For further assistance with work-related challenges, listeners are encouraged to email helpwanted@moneynewsnetwork.com and follow Money News Network on Instagram and TikTok for exclusive content.