Today I want to focus on 5 rules on how to improve your decision making. This article we’ll help you remove all off the over-thinking and help you tackle optionality, allowing you to optimise your time more effectively and improve the quality of your overall decision making. How much time do you spend thinking about menial everyday things?
- What size television matches my budget?
- Should I buy a pool or poker table for my man-cave?
- What decent downloadable apps will help me pass the time on my commute?
Here are 5 killer tips that will help you improve your decision making.
1# Be a Ruthless S.O.B
If you live in western society you have a welter of options for more or less anything. The first thing you should do is distill your optionality. That means we can do away with the bookends, be ruthless if you have to but be honest and ask ‘will my life be enhanced by choosing this option. Do I really need this in my life?’ Immediately you should dispose of the unnecessary options.
Great decision makers, great leaders can divorce themselves from sentimentality and zero-in on what brings value versus what is superfluous. Now and again there might be an anomaly. You might like the look of something and feel it deserves a chance, so go ahead and keep that option open. But let’s remain opened to any options.
TIP: Be ruthless and streamline what is going to be necessary.
2# Consider the Blue Moon option
The admissible exception to the rule above is to find the bargain within those options; the exclusive deal that only comes round once every blue moon. You’ll then have to decide if that bargain or shiny super-exclusive deal that’s not at the top of the priority pecking order, is worth choosing ahead of the other contenders.
TIP: Know your needs, know what is essential, but highlight that ‘blue moon option’ that could only come around once.
3# Spend time on high ticket items
When making decisions you need to also weigh in certain factors like cost. What’s it going to cost you financially and what’s it going to cost you time wise if you choose poorly. For example, if you’re spending hours deciding what is the best show on Netflix right now, then you’re not managing your time efficiently.
TIP: Take that extra time to deliberate on the high ticket items. Seek counsel, 2nd and 3rd opinions if necessary.
4# Allow your Remaining options to olive branch
This is one of the best bits of advice I picked up when researching this article. When you’re whittling down the options you want to consider which ones have the potential to olive branch and extend into other areas. Each option should be viewed as an investment.
For example, if you’re deciding on which car to buy, maybe one car manufacturer has a better networking community, provides access to exclusive events or race meetings etc. These events could introduce you to a different clientele which could help establish new relationships for your business, your social or even personal life.
TIP: Don’t discard the options that could prove beneficial in other areas of your life. Think of every option as an investment, which ones could prove the most lucrative in the long term?
5# Don’t burn your bridges
You might be deciding whether to make that switch from your current full-time job to going self-employed. My advice is to never burn your bridges. Simply making that leap of faith and saying sayonara to your old job could work out costly. I’d be truthful with your employer and inform him/her that you wish to move over to a part-time position whilst you make the transition to self-employed. This option may not always be open because going self-employed might put you in league with your employer.
TIP: Rather than turning in your proverbial badge, talk openly to your employer about your intentions and see what compromise can be met. Before approaching your employer make sure you can negotiate from a position of strength. I.E have your numbers and facts in order and come to the table.