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Why decision making is important

An article for those who used to be indecisive, but now they are not so sure about it.

Decision making can be hard. Almost any decision involves some conflicts or dissatisfaction. The difficult part is to pick one solution where the positive outcome can outweigh possible losses. Avoiding decisions often seems easier. Yet, making your own decisions and accepting the consequences is the only way to stay in control of your time, your success, and your life.

How did we arrive at our present circumstances in business and generally in life? What caused us to become what we are today? What we used to shape our lives is the power of decision and the individual bricks that form our struture are the countless choices we have made so far.

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The purpose of this article is to remind you of the enormous power we have hidden inside us. And there are just two things we have to do to unleash that massive power. First, we need to understand that our destiny is shaped not by the circumstances that come our way, but by the decisions we make. Second, we need to act upon that understanding by making choices that improve our lives and our businesses. If we want to change our lives, all we have to do is change our minds! If we want to improve our lives and our businesses, all we have to do is improve the choices we make. The remarkable thing is we have the power of choice right now.

As you are reading this, you may be wondering about reasons why decisions need to be made anyway. The answer is simple. Decision making gives direction. Indecision leaves an individual, team or organization without direction. A leader or manager must constantly make management decisions to show his team what direction to take, what needs to be done and when. Decision making starts the action. You can’t go forward unless you decide to do so. Leaders have to make decisions to keep the wheels turning. Decision making continues the progress. Once action has been taken to start something decisions have to continually be made to keep moving forward. Decision making is what really matters mostly. Procrastination merely delays progress. Decisions must be made to gain direction, to start progress, to continue progress and to capture the moment.

We make decisions all day long. Sometimes we decide not to decide. The decision not to act is not necessarily the wrong one. It depends on the circumstances. On the one hand we don’t want to rash things without considering the consequences of our actions, and on the other hand we don’t want to be indecisive and indefinitely refuse to act. It’s a matter of balance and we arrive at that balance by analyzing our decisions and our motives for those decisions.

tcrr667bRefusing to decide until we have enough information is a wise decision but refusing to take a decision until we have all the information is probably unrealistic. Many investors lost money in the stock market because they decided to buy without having enough information but we can never be completely certain on how the market will behave, so if we refuse to act until we have all the information, all we do is paralyze ourselves and make future gains impossible.

Another misconception is believing that there is only one correct option and refusing to act until they find that option. For example, an individual may believe that there is only one job in the world that is right for him, so he hesitates all his life, never getting a job because he can never be sure that the last interview he attended was for the perfect job.
To make the largest gains, try to be decisive. That is, make decisions quickly because the faster you act, the more time you will have to make more decisions, thereby speeding up your progress.

It is prudent to think before we act – accountants call this “the prudence concept!” However, if we refuse to act because we are afraid of making a mistake, we do the very thing we are afraid of because failure to act is a mistake. Failure to act is failure to seize an opportunity. Failure to act is failure to grow and improve our lives and our businesses. Our task becomes easier when we accept the fact that the decision making process is a risky business and that we are imperfect. Mistakes are inevitable, but there is nothing to fear as all the mistakes you do will provide valuable lessons for the future.

We have a great amount of power at our fingertips, and we can release it by asking ourselves questions, answering them, and following through. Some of the questions are, “I know what my present situation is, but what can it be? How can I make it better? What can I do to arrive at the point I wish to be at? What are my options and what are the advantages and disadvantages of each option? What are the costs in time and money? Am I willing to pay the price? Am I capable of making changes? Am I willing to change for the better? If so, when will I make the first step? Am I willing to commit myself to take action and take responsibility? Am I willing to make a plan, implement it, monitor my progress and correct it when necessary?”

Making the decision to act is the easy part. Following through on that decision is the crucial part. Claim the prize you deserve by releasing the power you have, and do it today.

Get over the “fear of success”

People talk themselves into not taking action because “If I do, then one great thing after another will happen, and soon I’ll be a great success, and I just can’t handle that.” These people are greatly over-estimating how likely success is and how easily it will come, as well as underestimating how happy it will make them. Does this “fear” hold some people back? Yes. Should it? No. They should get over it, take action, and recognize that the much more likely “moderate” successes they will experience will make them happier than being paralyzed by fear.

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Just as people are different, so are their styles of decision making. Each person is a result of all of the decisions made in their life to date. Here are some tips to improve your decision making process:

• Do not make decisions that are not yours to make.

• When making a decision you are simply choosing from among alternatives. You are not making a choice between right and wrong.

• Choosing the right alternative at the wrong time is not any better than the wrong alternative at the right time, so make the decision while you still have time.

• Do your decision making on paper. Make notes and keep your ideas visible so you can consider all the relevant information in making this decision.

• Be sure to choose based on what is right, not who is right.

• Write down the advantages and disadvantages of each course of action. It clarifies your thinking and helps you take a better decision.

• Make decisions as you go along. Do not let them accumulate.

• Consider those affected by your decision. Whenever possible, get them involved to increase their commitment.

• Recognize that you cannot know with 100% certainty that your decision is correct because the actions to implement it are to take place in the future. So make it and don’t worry about it.

• It has been said that a decision should always be made at the lowest possible level and as close to the scene of action as possible. However, a decision should always be made at a level insuring that all activities and objectives affected are fully considered.

• Remember that not making a decision is a decision not to take action.

• To be effective a manager must have the luxury of having the right to be wrong.

• Trust yourself to make a decision and then to be able to evaluate the consequences.

• Don’t waste your time making decisions that do not have to be made.

• Determine alternative courses of action before gathering data.

• Before implementing what appears to be the best choice, assess the risk by asking “What can I think of that might go wrong with this alternative?”

• As part of your decision making process, always consider how the decision is to be implemented.

• As soon as you are aware that a decision will have to be made on a specific situation, review the facts at hand then set it aside. Let this develop in your subconscious mind until it is time to finally make the decision.

• Once the decision has been made, don’t look back. Be aware of how it is currently affecting you and focus on your next move. Never regret a decision. It was the right thing to do at the time. Now focus on what is right at the present moment.

• Mentally rehearse implementation of your decision and visualise in your imagination the result.

• Brainstorming alternative solutions with your staff or others will bring fresh ideas.

• Once you have made the decision and have started what you are going to do, put the “what if’s” aside.

In everyday life we often have to make decisions fast, without enough time to systematically go through the above action and thinking steps. In such situations the most effective decision making strategy is to keep an eye on your goals and then let your intuition suggest you the right choice. You just have to make the decision and trust your unconscious mind!

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