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Are You Sure You’re Making Smart Decisions?

October 7, 2012

Daily ReadsAre You Sure You’re Making Smart Decisions?

Ask just about anyone and they’ll brag about how well they make decisions. Then look at the investments they’ve made, the losers they date, and the size of their waistlines. “Our decisions are wrong more often than they have to be,” said Chip Heath. Trust your gut is not a great solution. In business, it’s best to make decisions based on a good analysis, not just limited fragments of information. But how?

  1. Widen your options: weigh at least two good choices.
  2. Add distance before you decide: consider what the implications will be 10 minutes, 10 month and 10 years down the road (10-10-10).
  3. Prepare to be wrong: don’t omit the worst-case scenario when weighing the 10-10-10.
  4. Set tripwires: “alarms” when critical factors change.

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