How To Make Difficult Decisions (And Live With The Consequences)
Decisions, decisions.
Whether it’s in the context of business, or life in general, we are all faced with having to make difficult decisions from time to time.
Many of us choose to punt when faced with having to make a tough choice, while others allow their emotions to get the best of them, leading to an irrational response.
Difficult decisions can be agonizing, but they don’t have to be.
I’ve learned that a simple mental algorithm can provide much-needed clarity to the decision-making process and equip you with the resources to live with the results, no matter what they are.
Step 1: Take an inventory of your resources
Decisions, at their core, are just another form of transaction. You’re choosing to spend a resource you have, be it your time, capital, or mental energy on a given outcome.
All resources are finite to some degree, including intangibles such as self-control, forgiveness, and grit. As such, it’s important to understand just what resources you have at your disposal before making a decision.
Whenever faced with a significant decision, I start out by taking an inventory of my resources, both material and intangible.
For example, when deciding on our software development roadmap, I must first have a firm grasp of how many developers I have at my disposal and their availability. More importantly, however, I have to possess an understanding of their enthusiasm, skill set, and intellectual curiosity as it relates to the task at hand.
The same thing goes for any negotiation. Before starting, you have to have a realistic understanding of the facts, any leverage that might exist, and a strong sense of realism before starting.
Only by knowing what you have at your disposal can you move forward with making a responsible decision.
Step 2: Weigh the upside against the downside
As humans, we tend to let our emotions, pride, and desires to cloud our ability to accurately weigh the pros and cons of any given situation.
We may take a hard line with a client because we feel we are “right,” despite having very little to gain from such a stance.
Alternatively, we may become so fearful of a minor failure that we neglect the tremendously positive opportunities in front of us.
That’s why it’s important to remember the adage, “don’t gamble with something you can’t afford to lose.”
While this may sound like folksy wisdom, it takes a lot of self-awareness to put it into practice.
We can often lose sight of the things we really can’t afford to lose, entering into risky situations for the chance to satisfy our ego or experience a momentary bliss.
">Decisions, decisions.
Whether it’s in the context of business, or life in general, we are all faced with having to make difficult decisions from time to time.
Many of us choose to punt when faced with having to make a tough choice, while others allow their emotions to get the best of them, leading to an irrational response.
Difficult decisions can be agonizing, but they don’t have to be.
I’ve learned that a simple mental algorithm can provide much-needed clarity to the decision-making process and equip you with the resources to live with the results, no matter what they are.
Step 1: Take an inventory of your resources
Decisions, at their core, are just another form of transaction. You’re choosing to spend a resource you have, be it your time, capital, or mental energy on a given outcome.
All resources are finite to some degree, including intangibles such as self-control, forgiveness, and grit. As such, it’s important to understand just what resources you have at your disposal before making a decision.
Whenever faced with a significant decision, I start out by taking an inventory of my resources, both material and intangible.
For example, when deciding on our software development roadmap, I must first have a firm grasp of how many developers I have at my disposal and their availability. More importantly, however, I have to possess an understanding of their enthusiasm, skill set, and intellectual curiosity as it relates to the task at hand.
The same thing goes for any negotiation. Before starting, you have to have a realistic understanding of the facts, any leverage that might exist, and a strong sense of realism before starting.
Only by knowing what you have at your disposal can you move forward with making a responsible decision.
Step 2: Weigh the upside against the downside
As humans, we tend to let our emotions, pride, and desires to cloud our ability to accurately weigh the pros and cons of any given situation.
We may take a hard line with a client because we feel we are “right,” despite having very little to gain from such a stance.
Alternatively, we may become so fearful of a minor failure that we neglect the tremendously positive opportunities in front of us.
That’s why it’s important to remember the adage, “don’t gamble with something you can’t afford to lose.”
While this may sound like folksy wisdom, it takes a lot of self-awareness to put it into practice.
We can often lose sight of the things we really can’t afford to lose, entering into risky situations for the chance to satisfy our ego or experience a momentary bliss.
https://www.forbes.com/sites/chrismyers/2018/03/17/how-to-make-difficult-decisions-and-live-with-the-consequences/
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