REAL ESTATE FOR BREAKFAST

TRANSCRIPTION: Alexander the Great (356 BC–323 BC) is often counted among the most influential people in ancient history, if not in all of human history. By age 30, Alexander had created one of the largest empires in the ancient world. During his short life, he conquered all of Greece, Persia, Asia Minor, Mesopotamia, Egypt, and part of India. His army was unstoppable. While planning his next military campaign to invade the Arabian Peninsula, Alexander fell ill to a fever (some claim he was poisoned) and died at age 32.

To this day, military historians and modern tacticians still study the genius behind Alexander’s various military successes. But despite all of Alexander’s military genius and administrative talent (numerous cultures came under his one rule), Alexander was only human, and he made one decision that would eventually lead to the early demise of his empire and severely impact the ancient world. Throughout ancient history, power passed by hereditary rule. Leaders of empires were chosen based upon their family relationships rather than their character or abilities.

Alexander had no known living heirs, and although he languished in agony for over 10 days on his deathbed, he failed to name his successor. Instead, when asked who he would name as heir, Alexander responded, “to the strongest.” Despite his genius, this one decision alone was Alexander the Great’s worst legacy and one of history’s worst decisions. He literally invited his generals to a 40-year power struggle: the wars between them decimated Alexander’s young empire.

Alexander’s historically bad decision was on par with the decision to use hydrogen over helium to fuel the Zeppelin “Hindenburg.” The science of decision-making (good or bad) is fascinating. Researchers at the National Science Foundation estimate that the average adult has about 50,000–70,000 thoughts per day. It’s estimated that 30,000 of these thoughts are dedicated to decision-making. (Cornell University researchers estimate that over 200 decisions each day are focused entirely on what we want to eat.)

I don’t quite understand how these numbers were calculated, but I do know one thing: nobody starts their day hell-bent on making a poor decision. According to popular social scientist and journalist Shankar Vedantam of NPR’s “The Hidden Brain,” humans tend to make poor decisions in the heat of the moment when we are highly emotional (angry, excited, or depressed).

This is called a “hot” state. People behave more rationally when they are calm and aware of their feelings. They’re in a “cold” state. Scientists observed that when people are calm and reflect upon decisions they made when they were “hot,” they essentially become, as Vedantam describes, “strangers to [them]selves…” They “can’t reconcile the person they believe themselves to be with their actions while in the grip of an intense feeling.”

Take, for example, the fearful parent who reluctantly conveyed a significant part of their business to an enraged adult son for fear of being alienated from her grandchildren (hot decision). Later, when things calmed down, she acknowledged that if her son were any other person, he wouldn’t even be entrusted with a nickel to enter into a pay toilet (cold rational). The key to bridging this decision-making gap is to implement what I have come to know over the past 30 years as “The 24 Hour Rule.”

My late father used to say that a person should never be rushed into making an important decision—give yourself permission to take time to “sleep on it.” When intense emotions such as sadness, excitement, or anger take over, it is so important to stay alert to those external influences that affect your emotions. Perhaps Alexander the Great was so depressed about his life ending so soon that he refused to name his successor to his empire. It certainly demonstrates how an emotionally charged decision can significantly impact your future as well as your personal history.

Dedicated to your success,
David Soble

About David Soble: David is a seasoned real estate and finance attorney with more than 35 years of experience, combining his background as a “big bank insider” with a commitment to demystifying complex legal issues for his clients.  As the founding attorney of Soble Law (also known as Soble PLC / Proven Resource), he leads a specialized team in Michigan and Ohio that handles real estate transactions, contract disputes, probate, and financial litigation.  Known for a practical, no-nonsense approach and peer-rated excellence (Martindale-Hubbell AV Preeminent), Soble and his team strive to protect clients’ property and financial interests with clarity, integrity, and experience.

Disclaimer: You should not rely or act upon the contents of this article without seeking advice from your own qualified attorney.