A useful heuristic is the idea that for every three things you want, you get to pick two.
I’ve heard a lot of people say if you hire a developer to build a website you want speed, quality, and low price. You get to pick two. It’s obviously not a mathematical formula, but I’ve found that assuming you can pick only two clarifies thinking and improves decision making. Counter-intuitively, using this little rule actually enhances the sense of freedom and choice. When you feel like you need to have everything you begin to feel closed in when you go over budget, get behind schedule, or have diminished quality. You don’t know which to fix because you simply want to fix it all.
Giving yourself a clear sense of scarcity, even artificially, can help in prioritizing.
At the Praxis Winter 2015 opening seminar one of the entrepreneurs who spoke said you get to pick two. A social life, a love/family life, and a business. You can go all in on two of them. If you try all three, you’ll be frazzled and less than successful in each.
Whether or not it’s fully true, it’s incredibly helpful to think this way. Pick two and go for it. Anything left over for the third is a nice bonus, but not to be expected.
Which two do you want?