Have You Heard of ITR?

In his book Your Next 5 moves Patrick Bet-David Talks about Investment. Time. Return. (ITR).

Its a very straight forward way of making decisions and avoiding getting caught-up in analysis paralysis.

Here is how it works:

The I in ITR stands for investment. In other words, what is the monetary cost.

For example: Imagine we’re making the decision of wether to buy a hamburger or a plate of nachos…

The first thing you would look at is the Investment how much will it cost.

Hamburger: $7

Nachos: $10

1 point for hamburger, because it costs less.

Next we look at the T or time. how long will it take for us to get the results. In this case… how long until the food is delivered, and how long it will take us to eat it.

Hamburger: 16 minutes

Nachose: 13 minutes

1 point nachos, because they take less time to make.

Finally we look at R or Return. Essentially, what do we get back. Remeber its best to think Short-term and long-term. Positive and negative.

Hamburger: It would be filling and enjoyable in the short term. And (depending on where you get it) not very heathy in the long term.

Nachos: They taste great, and they’re filling, but they’re messy and also may not be the best for your health in the long run.

1 point Hamburger

Final: 2 points hamburger, 1 point nachos.

Yay, we get the hamburger and live happily ever after for the rest of time!

Obviously, that was a very basic way of using ITR to get to a point where we can take action.

And you can use it for dam near everything. From picking what to order to making a million dollar business deal.

And, Just like everything else in this world you only get better with practice.

Thats it for today…

I hope you have a wonderful Monday full of excellent, well informed decisions that move you closer to your goals.

Until next time,

Peace out.