Making decisions is a difficult endeavour. On top of it to make better decisions faster is a tougher challenge. In this article, we will explore some concepts of decision making that will help to make better decisions faster. We must remember that it is a habit, skill that’s developed with time and experience. But the principles that follow decision making are the same. These decisions will be personal to you and specific to your situation. So, no matter how great these tips sound to make better decisions faster, you still will be the one doing the heavy lifting. That’s also the fun part because this is so special and personal to you that no one else can do it for you.
Make better decisions faster – The foundations
Let’s start with the truth. It is difficult to make good decisions. You will always have something to lose. Maybe there is something to gain as well, but we are always concerned about what we will lose by making a decision. Hence, it’s prudent to be cautious about decision-making, especially when you must make decisions faster.
You’ll have to exercise more prudence because we need to think about risks, the loss, and how it will impact us in the long run. However, we can’t let this stop us from making any decisions. The main thing is that a decision must be made, and it must work very well for you, but the problem most of us face is that we take so long to make up our minds that the moment would have passed.
Hence, we need to work out a compromise wherein we make a decision that is good enough for us. It won’t be the perfect decision. It will have its flaws, but it will give you the biggest advantage of all – TIME. As we think about this, let’s also challenge the thought that says – quick decisions are unsafe decisions!
So, let’s not worry about making perfect decisions. This is not what the article is about. This article is about finding ways to arrive at a quick decision. It’s also about creating a strategy and process you can follow when making decisions. You will still have to fill in the blanks and find out what works best for you, but it helps you think about different elements that come together to make better decisions faster.
Make better decisions faster – Review your options
It starts with the options you have. You can make a decision when you have compelling options to choose from. Remember that no matter which option you choose, you will lose something. Be prepared for that mentally. There’s no perfect decision, but you’ve to choose something that works best for you. Ultimately it is all about creating a better chance of success with your decision. It is never about perfection as Ratan Tata mentions in his quote – I don’t believe in taking right decisions. There’s an equally important part after making decisions. It is about working towards making it right for you.
If you can, try to find an objective method of scoring your options. While doing this, make sure that you think about the outcomes, your resources and opportunities. Sometimes these opportunities are tangible whereas in a lot of cases, these are intangible ones too. Be aware of these and write them down as you make your list.
Identify your risks and opportunities
It is great to lead our decisions through optimism and the powerful force of belief. However, even with the best intentions and the best of luck, things might still not work for us. We must take a look at what happens when things go wrong. It is not just about hard work, but also being smart about identifying what the worst-case scenario means. If our worst case scenario leads us to an eventual doom, then it might not be worth it.
It represents a gamble when the worst-case scenario can obliterate us. Do some risk planning if you need to but don’t take a decision in a blind belief that nothing would happen to you. That wouldn’t be prudent even if it gives you the quickest decision. There’s no point in taking an unsafe decision that unsettles your life completely, unless it is absolutely worth the risk.
As you identify your risks, please spend some time on opportunities as well. If you need to, make a list of these risks and opportunities. Identify the value of these influences and how realistic they are. The most common mistake we make while taking decisions is that we overemphasise the risks and ignore opportunities. Remember, they have to be scored with an equal weightage to understand what they mean to you.
Find a way to score your risks and opportunities
Most people don’t do this while taking decisions. It’s very easy to over index on the risks and ignore our opportunities.
However, if we want to be objective, the best way is to introduce a mathematical approach to it. It might sound a bit strange but find a way to score your risks and opportunities. It might be on whatever scale that works best for you, but make sure that there is a number associated to it. In the end, you might be able to add up all the risks and opportunities which are relevant to one decision over the other. This not only helps you find an objective methodology to identify which decision might be better for you, but as you’re exploring this, you’ll also get a gut feeling that tells you which decision might suit you best. (Risk assessment methods)
It’s not going to be a perfect formula, and you don’t have to take the one which takes the highest score, but it will help you think cover different dimensions and reduce overthink because sometimes we must challenge the fears that we have while taking a decision. This will help you make that challenge more realistic and formulaic and convince yourself about what might work for you.
Find out milestones that can help you identify whether you’re succeeding or not
These milestones tell you whether you are in the path to succeed or not, they also help you course correct if you’ve gotten wrong somewhere. While making these milestones ensure that they are measurable, realistic and time bound, it is very easy to get lost into the nitty gritty and details while creating milestones, please also ensure that these milestones are related to outcomes, rather than just your work.
If you end up measuring your work, then there is a possibility that you’ll still appear successful when you’ve failed on the outcome. The main reason of creating these milestones is to identify whether you’re succeeding or not. If you’re failing, then it’s an opportunity for you to change your approach and maybe take a different decision that helps you either correct your previous decision or challenge it and take a new one.
Ultimately, it’s a process of continuously moving forward, stagnation, is the one aspect that kills you. You’ve got to continuously keep moving forward. And these milestones, help you to make better decisions faster.
Make better decisions faster- Act on it and take feedback
Do not get lost in analysis. It is very tempting to make the perfect plan and keep changing your hypothesis, but when it comes to making better decisions, faster speed is of the essence. You’ve got to make a decision and move on.
Refrain from falling in prey into the paralysis by analysis syndrome. It doesn’t help you move forward at all. Perfection is the enemy of progress. It is all about continuous progress and identifying how close you are to your success.
No decision is our final no decision is ever fatal. It is in the act of these continuous tinkering that you do, it helps you make move forward and get closer to your goals.
Adapt, change your plans and keep your focus on the outcomes
This is Crux to make better decisions faster, take feedback, adapt approach again. Don’t lose team in the process. Persevere. Keep your eye on the final goal. This is all there is to successful decision making. It means that you will fail in the process. It also means that you will face failure and feel bad about yourself. However, the key is to pick yourself back up, dust off these masks of failure, and then find out what to do next. You can’t lose your motivation. You can’t lose your steam. In this process, this is the most powerful thing that will take you forward. The minor decisions may reach in failure, but the overall process is about a continuous progress.
A decision might be wrong, but if it takes you closer to the final goal, then the wrong decision is still worthy. The moral of this post is that, please don’t get lost in deliberating and wasting loads of time. The only way you can move forward is through action, and the results coming from these actions. Without that, every other activity is a theoretical exercise, and it won’t yield anything.
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You’ve a fascinating blog, and Congrats Mr.Vinay, it is my privilege to award you, “Lifecoach blogger award” keep up the good work and looking forward to build long term blogging relationship with you. Click on the “Life Coach Blogger Award Winners” column in my blog to claim your award. I’ll be very happy when you display the award in your blog. Let us keep in touch google plus +sridhar chandrasekaran, twitter, @lifecoachbloger
You’ve a fascinating blog, and Congrats Mr.Vinay, it is my privilege to award you, “Lifecoach blogger award” keep up the good work and looking forward to build long term blogging relationship with you. Click on the “Life Coach Blogger Award Winners” column in my blog to claim your award. I’ll be very happy when you display the award in your blog. Let us keep in touch google plus +sridhar chandrasekaran, twitter, @lifecoachbloger
Absolutely wonderful and so useful too!
Thank you Amit :)
Just perfect points. I never thought about this topic on from such technical point of view.. good post :)
Thank you Yashodan :). The technical aspects have surely added some value to my decision making and have helped me immensely :)
This is a wonderful post. I am sure it will help many people :)
Thank you Purba :).. I sure hope so, the purpose of this post will be completely fulfilled :)
Quite useful tips… A much motivational post to kick-start 2016. Wish you a wonderful year ahead Vinay. Thanks for sharing :)
Thank you Maitreni :). I have always been a big fan of decision making and each time I read about it, it excites me to know that minor adjustments in it can go a long way..
Everyday Motivation :) .. Grt post to start 2016
Thank you Chandresh :)
Very very useful tips and love the ending lines where you quote Randy Pausch. When we learn to live with little bit of uncertainties in life things become easier in accepting the truth.
Thank you Moon Roy :). I was infact browsing through the book to lend it to a friend. One of the books I have really enjoyed a lot. His speech too is one of the most entertaining ones ever.. :).. Amazing man.
Superb! Very useful tips. Well presented article Vinay ji :)
Decision making was always difficult for me when I had lots of choices. I would usually sieve out the least ones first and would choose the best from the remaining two of them :) I want the best to be opted! Ah! I am talking about silly (?) things like selection of a sari/dress or a design for my outfit… :D
I will try to remember the points you have listed :)
Regards,
Sindhu
Thank you Sindhoo :).. I agree, even I used to spend such a long time in taking decisions and in the end I realized that I forgot the most important part in the process, TIME.
Ah well, even I am confused about dresses sometimes too and then I finally resign to the trusted old black tee shirt with blue jeans. There is not much wrong you can do with that ;)
Yes, you are right, time is what we need to spend (?) carefully…
Ha haa :D You guys can manage with black Tee and blue jeans, but… we girls are rally crazy about fashion! I hope your post will help us decide better soon! :) TC!
Ha ha ha :D.. Well I am no expert when it comes to girl’s clothes. Heck I am not an expert when it comes to my clothing as well :D. He he he, I hope so too ;) :D
Vinay, where do you find all these amazing topics to write on?! I mean, they are little things that are always at the back of our minds but you do bring them forth with your posts. And always with a practical approach.
I agree, most of our decision making gets colored by our negative thinking processes. It just goes against the law of attraction – which is strongly attracted an outcome by means of your thoughts!
Ha ha thanks Vinodini :). You are very kind. I love the complications in simplicity and the pursuit to bring it back – some philosophical mumbo jumbo :P ..
But I have always been inspired by the simple things we do and there are so many ways each one of us thinks and does it in which makes me find it very magical and as usual I like writing and bugging people with these theories. I am very thankful that people actually like it :) ..
Ohh my! I take lOt of time in it.
Right there with you on it Tara :)
Nice post.. I would try to forget all the negativity and hope it works for me
Thank you Anupam :). Good luck with the process,it is definitely an exciting one :)
Well said – “It will work if you forget all the reasons why it won’t“ – Paulo Coelho. Great insights Vinay. Liked the post.
Thank you Priyanka :). I think sometimes we just have to look at it in a blind passionate way to lead us to the solution!
Nice Post. Really you hit the nail where it matters. Decision making is really tough when you too many choices
Thank you Prakash, glad to hear that you like it. True, it is perhaps one of the most essential and the most challenging thing in our lives!
You’re right..” why I want to do this ” is of prime importance ..and once you have answer to this question…other issues get simplified automatically…
Thank you Maniparna :)