Over the course of our lives we will have to make a few big decisions that can completely change the direction of our lives, for better or worse. And if you run a business, you will be making decisions all the time, but you will also have to face big decisions that are crucial to your company’s survival or growth.
Whether we are talking about business or life in general, there are certain strategies or tips that can help us make those decisions as objectively as possible.
We are drawing on advice from Jayson Demers, who offers some ideas for using objective reasoning and removing any emotional influence or bias that could put the outcome of a decision at risk.
We start from the premise that, although some of these ideas may seem very obvious, they are easier said than done. How can you decide objectively whether or not to let go of someone who has worked with you for more than a decade? How can we decide objectively whether to make a choice that will radically change our lives?
Objectivity and emotional neutrality have their limits, but with practice and a few solid strategies we can try to get there. If you are facing an important decision, these tips may come in handy:
*Tip number zero, obviously, would be to ask for advice from an expert in the field or from someone who has been through what we are going through.
1. Recognise your biases and compensate for them.
Clearly, knowing ourselves is a point in our favour. Our decisions stop being objective when our emotions and prejudices start to interfere with our assessments.
If we want to reduce that impact, we have to think critically about our own mindset and about which factors could be pushing us towards a subjective decision.
What could be biasing our decision? What other options would you have if you weren’t a victim of those biases, or of people interfering in the decision? As far as possible, we should try to restructure our thinking.
2. Make a list of the arguments for and against the decision.
This is one of the oldest tools, and probably one of the most forgotten or least practised, but it is still one of the most useful, because it forces us to think and then lets us see a result.
On one side, put all the advantages of making the decision; on the other, all the disadvantages. Do the same when you are torn between several options.
And take your time to reflect on what you are putting on that list.
3. Imagine you are advising a friend.
When we consider, inside our own heads, that every possible factor that could come into play would affect us directly, we tend to lose objectivity.
So it helps to step outside your own mind and imagine that it is a friend asking you whether or not to make a decision. What would you tell your friend? This way the situation can look a little less distorted since, as the saying goes, it’s easy to be wise from the sidelines.
4. Make the decision and live with it.
In the end, it doesn’t matter how much you study or analyse a decision and all its possible consequences, because in many cases the decision will have to be made. Don’t avoid it.
In some cases, don’t put off making a decision, because not making it quickly could have irreversible consequences.
Make the decision and stand by it. We can deal with its consequences later, as they arise.
In many cases, a bad decision is much better than making no decision at all.
Further reading
- The most important question to ask yourself in life: how much pain are you willing to put up with?
- 4 things you need to give up to keep moving forward
- 5 things you need to do differently if you want to succeed
Featured image: Creator:Henry N. Hooper and Company Creator:O.P. Drake, CC0 1.0, via Wikimedia Commons.
