1. Introduction
Consider these pointers for better decision making in your life and business.
Timing:
When you are well rested and serotonin and dopamine levels are high. Usually the the start of your day.
Design a logical data driven decision process that works for you. Often times my firs resort is to worry or express frustration and that’s why I include this to warn you – Do not quit or become despondent by default. Take action as a natural response to tough decisions and expect the best outcome. Accept challenges as the gift that fuels growth, learning and triumph over adversity.
Here are my most critical parameters for decision making, you can make your own
- Time: Is my decision time bound and can I deliver
- Financial impact: Cost / opportunity cost/ revenue
- Optimal Benefits
- Weigh best alternatives, substitutes, and / or get expert advise. Adopt a global perspective because most problems are not unique and decisions often have a spiderweb effect on family, organizations and community.
- Objectively weigh Social and economic impact in family and community. It is often necessary to get input from all parties that will be impacted by your decisions, especially if you are building capacity or resolving conflicts.
Avoid agreeing by default or leaving others to make key decisions for you. If you lead an organization you may be liable for organizational decisions at all levels whether or not you are present, so be sure to nurture an organizational culture where people are responsive and communicate. Three excellent ways to keep your finger on your organization’s pulse is by staying on top of financial activities (budget), establish good communication systems (mail / social media / ‘all-calls’) and have some “lookouts’ in the trenches.
What to Do, When Everything Is Falling Emotionally and Financially
1. Use all the data and resources you have, including Google, Youtube, partners and experts, to design favorable outcomes.
2. Visualize a positive outcome
3. Analyze the cost and have a budget or cash flow to support the outcomes
4. Share your problems because you may find a solution faster and be comforted by others who share your experience.