Hack your career with these 6 mental models and ChatGPT

^ Thanks Stable-Diffusion-Protogen-x3.4-webui for: “An abstract oil painting of a mental model”

TL;DR

The following mental models can be used to solve problems and expand the way you think using ChatGPT:

1. Occam’s Razor: Simplest explanation is preferable to one of more complex. Simple theories are easier to verify and easier to execute
2. Cost-Benefit Analysis: A process to determine the economic benefit of a decision and whether it’s worth pursuing
3. The Eisenhower Matrix: A method that utilises the principles of importance and urgency to organize priorities and workload
4. Social Proof: A psychological phenomenon where people assume the actions of others in an attempt to reflect correct behavior for a given situation
5. Network Effects: A phenomenon whereby increased numbers of people or participants improve the value of a good or service
6. Risk-Reward Analysis: A practice of arriving at an optimal statistical design based on the trade-offs involved between risks and rewards

1. Occam’s Razor

Occam’s Razor is a scientific and philosophical rule that entities should not be multiplied unnecessarily which is interpreted as requiring that the simplest of competing theories be preferred to the more complex or that explanations of unknown phenomena be sought first in terms of known quantities.

ChatGPT Prompt for Occam’s Razor:

“I have two potential plans. I want to use the Occam’s Razor framework to find the solution which relies on the fewest assumptions and complexities. Option 1 involves [provide details of the first option], and Option 2 involves [provide details of the second option]. Suggest the most straightforward option.”

2. Cost-Benefit Analysis

Cost-Benefit Analysis (CBA) is a way to compare the costs and benefits of an intervention, where both are expressed in monetary units.

ChatGPT Prompt for Cost-Benefit Analysis (CBA):

“Act like a business analyst. Use the Cost-Benefit Analysis framework to evaluate whether [insert decision] is a net benefit or a net loss given [insert constraints & limitations]. Suggest any resources that could be used to deal with the costs and identify potential risks & benefits.”

3. The Eisenhower Matrix

The Eisenhower Matrix is a productivity, prioritisation, and time-management framework for prioritising tasks or agenda items. It categorises workload by urgency and importance

ChatGPT Prompt for the Eisenhower Matrix:

" I am a [insert job title]. Here is a list of activities I have for this week. [insert list] “Help me prioritize my tasks in terms of importance and urgency using the Eisenhower matrix.”

4. Social Proof

Social Proof is a phenomenon where people follow and copy the actions of others in order to display accepted or correct behavior, based on the idea of normative social influence. This term was coined by Robert Cialdini, the same author who presented his six principles of persuasion.

ChatGPT Prompt for Social Proof:

“Act like a Content Marketer. Suggest ways in which I can incorporate social proof into my content in order to increase trust and credibility with my readers?”

5 Network Effects

Network Effects: In economics, a network effect (also called network externality or demand-side economies of scale) is the phenomenon by which the value or utility a user derives from a good or service depends on the number of users of compatible products. Network effects are typically positive, resulting in a given user deriving more value from a product as more users join the same network

ChatGPT Prompt for Network Effects:

“Act as a Product Manager. Analyze [insert business decision] through the understanding of Network Effects. Consider how the value of a product, which has the following features increases as more people use it:

6 Risk-Reward Analysis

Risk-Reward Analysis is a practice of weighing the expected risks and rewards from an A/B test and arriving at an optimal statistical design for it based on the trade-offs involved

ChatGPT Prompt for Risk-Reward Analysis:

“Act like a Growth Analyst. Use the Risk-Reward framework to identify the risk and rewards associated with [insert strategy]. Suggest the implementation plan for each strategy as well as the steps that can be taken to reduce risk.”

Source: Awais Khan

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