🎲 Thinking in Bets: How I Use Psychology, Strategy & MBA Tools to Help You Make Better Life Decisions

When we face a tough decision — whether to stay in a job, leave a relationship, invest in a risky option, or choose a treatment plan — we often find ourselves paralyzed by doubt.

We crave certainty, but life rarely gives it to us.

Over the years as a psychiatrist, and more recently as an MBA graduate from BITS Pilani, I’ve realized something powerful:

❝ The best decision isn’t the one with the best outcome. It’s the one with the best process. ❞

This is the core of what Annie Duke, a former poker champion and cognitive scientist, calls “thinking in bets.”
Let me explain — and show you how I now use this approach to help my clients think better, feel better, and live better.

♠️ What Is Thinking in Bets?

We usually judge decisions based on how they turn out.

  • If a job change worked, we say it was a “good decision.”

  • If a startup failed, we assume it was a “bad idea.”

But that’s a mistake.
Life, like poker, involves incomplete information and luck. You can make a smart decision and still get a bad result — and vice versa.

Thinking in bets means separating the quality of your decision from the randomness of its result.

It’s not about being perfect.
It’s about playing your hand as wisely as possible, given what you know — and updating your strategy as new information comes in.

đź§  How This Relates to Mental Health & Real Life

In my psychiatric practice, I meet people stuck in decision traps:

  • “What if I regret it?”

  • “How do I know if I’m right?”

  • “Why do I keep repeating bad patterns?”

Most therapy models focus on feelings. But to move forward, you also need a framework to think clearly.

This is where my MBA training helps.

Let’s walk through some of the structured tools I now integrate — tools from business strategy, adapted to life psychology.

đź”§ Key Decision-Making & Strategy Tools I Use in Practice

1. Probability Thinking & Expected Value

Used by poker players, investors, and data scientists — and now, psychiatrists.

👉 How it works:
Instead of thinking “Will this work or not?”, we ask:

  • What’s the probability this will succeed?

  • What’s the upside if it does?

  • What’s the downside if it doesn’t?

🔍 Example:
A patient considering moving cities for a new job.
We calculate: confidence in the job, emotional impact, family needs, cost of living — to assess the “expected value” of the move.

2. SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)

A classic MBA tool used to assess a situation holistically.

🔍 Example:
Someone in a relationship crisis.
We work together to list:

  • Strengths of the relationship (trust, support)

  • Weaknesses (communication gaps)

  • Opportunities (couples therapy, new roles)

  • Threats (neglect, resentment)

This gives clarity without judgment.

3. SERVQUAL & RATER Models

Originally designed for evaluating service quality — I use these to help clients assess life satisfaction and emotional service deficits.

đź§© SERVQUAL Dimensions:

  • Reliability – Are your decisions dependable?

  • Assurance – Do you feel confident in your knowledge?

  • Tangibles – Do your physical surroundings support your mental health?

  • Empathy – Are your needs understood?

  • Responsiveness – How quickly are problems addressed?

đź§© RATER (same principles, simplified for coaching):

  • Reliability

  • Assurance

  • Tangibles

  • Empathy

  • Responsiveness

🔍 Example:
A professional feeling burnt out may realize they’re missing “Empathy” and “Responsiveness” from their environment. That awareness becomes the starting point for change.

4. ADKAR Model for Change

Often used in organizational transformation, ADKAR is a step-by-step framework for personal change too:

  • Awareness – Do you know change is needed?

  • Desire – Do you want to change?

  • Knowledge – Do you know how to change?

  • Ability – Can you apply what you’ve learned?

  • Reinforcement – What helps you sustain progress?

🔍 Example:
In therapy, a person may be stuck at the Desire stage — knowing they need to leave a toxic job but not feeling ready. ADKAR helps us locate and unlock that stage.

5. Decision Trees & Risk-Reward Mapping

When clients face complex choices, I often sketch decision trees:

  • Option A → Best case / Worst case

  • Option B → Best case / Worst case

We then rate each pathway with personal priorities (e.g., peace of mind, income, time with family) — helping people choose based on values, not just fear.

👥 Who Benefits from This Approach?

âś… Young adults paralyzed by career or life choices
âś… Professionals facing burnout or mid-life pivots
âś… Entrepreneurs stuck between risk and responsibility
âś… Parents trying to support children with emotional needs
âś… Couples who want structured, non-blaming dialogue

✨ Why This Works

Because clarity reduces anxiety.
Because structure builds confidence.
Because once you stop chasing perfect outcomes, you can start making wise bets based on who you are and what matters to you.

📍 About Me

I’m Dr. Srinivas Rajkumar T, Consultant Psychiatrist.
I trained at AIIMS, New Delhi, and recently completed my MBA from BITS Pilani with a focus on healthcare service quality, decision-making, and digital transformation.

I practice in Chennai — at Apollo Clinics in Velachery, Tambaram, and Adyar, and I offer both in-person and online consultations.

I help you:

  • Think clearly under uncertainty

  • Apply decision science to personal problems

  • Reframe emotions into actionable steps

  • Build confidence in your mind, your choices, and your path

đź§© Work With Me

Whether you’re struggling with indecision, anxiety, relationship conflict, or burnout — we can build a decision-making system that fits your goals, personality, and life context.

đź”— www.srinivasaiims.com
📞 Call/WhatsApp: 8595155808
📍 Velachery | Tambaram | Adyar | Online consults available

❝ Because life isn’t about certainty. It’s about learning to bet wisely — with your time, your energy, and your future. ❞

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