Colin Powell's rule of thumb on decision-making is: if you have more than 70% of the information, you're overthinking (or probably moving too slowly). You do need at least 40% of the information, though, to avoid making a poor decision. This rule of thumb: • 𝗣𝗿𝗲𝘃𝗲𝗻𝘁𝘀 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗣𝗮𝗿𝗮𝗹𝘆𝘀𝗶𝘀: avoids information overload and encourages timely action • 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗲𝘀 𝗶𝗻𝘁𝘂𝗶𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 It is, however, easier said than done, especially as a founder, because you worry more about making mistakes. It's a muscle you have to practice, and you get a feel for when a decision is made and you need to move on. It's definitely a muscle I'm actively working on. In general, even if you make a mistake, it's okay in most cases (unless you're a surgeon or something like that), as long as you adapt quickly. The opportunity cost of needing too much information or taking too long to make a decision is generally higher than being completely sure of a decision.
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🎯 Decision-Making is an Art! One day, my best friend called and said, "Tomorrow is my birthday. Should I buy a new dress or not?" I simply replied, "It's up to you. It's your birthday!" This made me realize how many of us struggle with simple decision-making! Years ago, I was in the same boat, stuck with even basic choices. Over time, I’ve observed that decision-making is a common challenge that many face—often unknowingly. Here’s how I learned to approach decision-making effectively: • Analyze the Worst-Case Scenarios 🧠 Consider what could go wrong and prepare for it.This helps in reducing fear and uncertainty. • Predict Future Scenarios 🔮 Think about the long-term impact of your decisions. Visualize how this choice will align with your goals. • Avoid External Influence Don’t let others voluntarily influence your decisions. Take ownership of your choices. • Practice, Learn, and Improve 📈 Decision-making is a skill that improves with practice. Start small, and gradually tackle more complex decisions. • In the end, we only regret the chances we didn’t take. "Make wise decisions"
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How do we determine the right choice when faced with decisions? Decision-making can be a daunting task, especially when the stakes are high. The article shares valuable insights into a structured approach that can significantly ease this process. By breaking down the decision into manageable parts, we can weigh the pros and cons more effectively. Understanding our values and priorities is crucial, as it guides us toward choices that align with our goals. It's a helpful reminder that decision-making isn't just about picking options; it’s about crafting a path that resonates with who we are and what we envision for ourselves. I'd love to hear your thoughts! How do you approach making decisions? https://lnkd.in/eUrYMRPk
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Tips on Decision Making! Speed vs. Quality ⏱️ Decide fast but wisely. Digital businesses require agility, but rushing can lead to mistakes. Strike a balance: For minor decisions (e.g., choosing a social post format), decide quickly. For big decisions (e.g., investing in new software), take time to evaluate. Ecclesiastes 3:1 says: There is a time for everything, and a season for every activity under the heavens: Make the most of your time. ⚖️ Action Step: Identify one decision you’ve delayed. Can you make it today?
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How Waiting Can Improve Decision Making ⏳ Nowadays, it’s easy to think that faster decisions are always better. But research shows that taking a brief pause before acting can actually lead to more thoughtful, better decisions 🧠 When we rush, we often overlook key details or make impulsive choices we regret. By stepping back for just a few moments, we give ourselves the chance to process, gather new insights, and make more informed choices. It's not procrastination—it’s strategic thinking. Next time you’re about to rush into a decision, take a deep breath. That moment of pause might be the key to making a smarter choice. Have you ever found that slowing down led to better results?
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If you’ve read my checklist for decision-making, you know I’m very analytical in my approach. I love my process because it gives me the confidence to make good (and sometimes fast) decisions. However, many successful people at this event shared that they reasonably rely on their gut feelings (instincts) in key decisions, which helped them make (or save) millions of dollars. After this realization, I’ve decided not to ignore my gut feeling when making critical decisions. In fact, I’ll put it on top of my checklist. Situations to Trust My Gut Feeling: When I don’t have the time and means to gather all the evidence. When it doesn’t cost much to act. When it’s a two-way door, meaning I can easily (with some effort) reverse the decision.
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Self reflections on decision making Read somewhere - an average adult makes 35000 decisions in a single day ! That means 1500 decisions in an hour. No wonder I used to over-think so much. On top of it there is the #analysisparalysis trap that I used to often fall into ; given the host of options we have these days. UNTIL recently !! I decided to simply drop everything & pick up one thing at one time- in short- '#Prioritise' . Instead of Multi-tasking , I now #chunk my activities so that the brain is de-cluttered And what a relief this has been !! I can take up more tasks & find time for self too 😃 So, what strategies have you been using in making your decision making process smoother. I would love to hear your tips & tricks #decisionmaking
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On of the best light weight tools I use for decision making is the 10 - 10 - 10 method. Think or write down how this decision will impact you in the next 10 minutes, 10 months and 10 years. We tend to live in the 10-minute mind. What is the immediate discomfort I am avoiding or the immediate pleasure I am receiving. This simple reminder 10 - 10- 10 can stop you long enough to think about more than just the immediacy of what is in front of you. It is a good pause to give you space to think about 1st, 2nd and 3rd order consequences. I personally then focus on the 10-month window for how I have started to show up. It gets you out of immediate with a biased for action, while avoiding the conjecture of uncertainly about the future. Next time a solution or decision show up ask for a 10 - 10 - 10 assessment and watch how much better of a decision gets made.
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Decision Making In life, avoidance of decision-making will slow you down, keep you stuck in mediocrity and burn you out. You will lose time, money and joy. In extreme environments, it can cost lives. We teach clients exclusive problem-solving and decision making frameworks to be dependable, no matter what.
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Decision making is not just about avoiding risks (though that's important). It's also about seeking diverse perspectives, crafting a solid strategy, and embracing the unknown. Remember, every 'no' gets you closer to a 'yes', hence decisions should be backed by data and intuition.
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What if everything you think you know is just a lucky guess? We all make decisions based on evidence and experience. But even when we feel confident, unseen factors can completely change the outcome. That’s the tricky part: sometimes, what looks like a well-informed decision is actually influenced by forces we didn’t anticipate. This is why the phrase “strong opinions, loosely held” resonates so deeply. It’s not about forming quick opinions and changing them at will. It’s about taking a stand based on solid reasoning but staying open to new evidence that challenges your view. The key to better decision-making isn’t just confidence - it’s adaptability. In business, how often do we think we’ve nailed the root cause of a problem, only to discover later that it was something completely different? These "Gettier-like" situations happen more often than we realize, reminding us that even justified decisions can be wrong for the right reasons. What makes the difference? The ability to move forward with conviction but remain flexible when reality proves us wrong. If this resonates with you, feel free to leave a like or share your thoughts below. And if you’re curious about digging deeper into how these principles can transform your decision-making, check out the full article - link in the comments.
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