Make Smart Choices

Not too long ago I spelled out the Five Steps for Better Decision-Making. While these five steps provide some guidance, the process of making smarter choices needs to be expanded. The first step in making smart choices and decisions is to create and clarify any uncertainties surrounding the decision.

Take time to think about your tolerance for risk. Just how much risk are you willing to assume. Link your decisions to gain an understanding of how one decision might impact another decision. Also, understand how the choices you make today will impact the choices you make tomorrow. Fast forward to future possibilities and consider the uncertainties regarding these alternatives. If things don’t work out what are the alternative options you can exercise and implement.

Gather as much data and information as possible when planning decisions. Go through the five step process in your decision planning process to gain clarification on the possibilities and the outcomes. Try not to place too much emphasis on the initial information received and gathered. Things can change as you dig into the issues. Finally, avoid the tendency of status quo which is protecting the present because the future is uncertain.

Another factor is to avoid falling into the trap of reaching quick conclusions regarding the accuracy of evidence gathered in the decision-making process. Try to avoid recalling what happen in the past and in overestimating the impact of a decision. This will help you achieve a sharper sense of awareness of the ramifications and possibilities of a decision.

Combining Five Steps for Better Decision-Making with these tips will result in better decisions and smarter choices.