3 Decision-Making Mistakes You Should Avoid
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The way you frame your decision at the outset can make all the difference.
State your decision problems carefully, acknowledge their complexity and avoid unwarranted assumptions ...
A decision is a means to an end. Ask yourself what you most want to accomplish and which of your interests, values, concerns, fears, and aspirations are most relevant to achieving your goal.
Decisions with multiple objectives cannot be resolved by focusing on any one objective.
Your decision can be no better than your best alternative.
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Our emotions are obsessed with the present moment because it’s difficult to look past our immediate fears and anxieties. And this prevents good decision-making.
The sweet spot in de...
Most of us are afraid of messing thing up. But we rarely ask, “Would I regret that failure?” If the answer is “no,” then that is absolutely a risk you should pursue.
Sometimes, the right decision becomes crystal clear when put into these terms.
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Recognize what happened and how you feel. Suppressing your emotions will get you nowhere. It’s important to first focus on how you feel.
You can also journal your emotions or speak with a clo...
Take a step out of the emotions and stress to really look at the facts of the situation. Try to look at the situation objectively and seek ways to work productively toward solving it.
Get an outside perspective, if you struggle with getting the facts in an objective manner.
Once we’ve made what we’d call a bad decision, we give it a lot of meaning it does not inherently have.
So try to mentally separate yourself from the decision. Doing so can help you strip it of its power.
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... is imperative for every successful business. Poor communication inevitably causes misunderstandings, confusion and conflicts that hinder productivity and professi...
It helps to prevent misunderstandings and conflicts. It can help to defuse a potentially explosive dispute while bad communication can set it off.
Avoiding Difficult Conversations.
Reacting, Not Responding.
Not Keeping an Open Mind. Accept and respect differences, listen without judgment and consider all sides of an issue.
Decision making is critical for entrepreneurs. Every day, you have to set out on a course of action, choose tactics, evaluate results, and otherwise choose from arrays of options.
It’s sometimes necessary to make decisions quickly. But if you’re frequently skipping steps, you could be misdiagnosing problems and making decisions that don’t solve anything.
Sticking your head in the sand and just hoping it will go away isn't wise. Procrastination only causes problems to fester and possibly grow bigger.
For example, if you have two feuding employees, you may avoid confronting the issue in the hope they will work it out on their own. If they don’t, the conflict may grow and boil over.
To overthink a decision may cause you to miss time-sensitive opportunities.
Whether it’s due to fear or perfectionism, being indecisive and taking too much time to gather information not only affects the productivity of your business, but it also damages your employees’ confidence in you as a leader.
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Most decision-making errors boil down to:
If you already have an opinion about something before you've even tried to figure it out, chances are you'll over-value information that confirms that opinion.
Think about what kinds of information you would expect to find to support alternative outcomes.
The “fundamental attribution error,” is when we excuse our own mistakes but blame other people for theirs.
Give other people the chance to explain themselves before judging their behavior.
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... and boils down to what we give up to attain something. Our mindsets are inclined towards pleasure and resistive towards pain. We normally like to think in terms of gai...
Decisions are a cost-benefit analysis of risking something small for the opportunity to gain something big.
Trade-offs are not something as simple as flipping a coin. Our values guide us towards what we want in life, and it is not the same for all. Example: Buying a house has a trade-off of mortgage for the next ten or more years. This is subjective and depends on what we value in life.
Indecisive people suffer because they don’t know their inner values and what they care about.
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