Life is a constant sequence of decisions, from when we wake up until we go to bed, and every day that cycle begins again. Some of these decisions are so automated that they do not generate a greater waste of time and energy. But, sooner or later, An issue will always come to us to which we must devote a little more attention, in order to arrive at the best alternative based on what our objectives are.
That is why a system that allows us to speed up and optimize the decision-making process should be part of our day-to-day “tool kit”. If every time you have to make a decision you feel that you invest more time in that task than you should, in this text you will find a solution.
Is there a recipe for making decisions?
In order to make a decision, we usually have a limited amount of data and therefore must deal with a certain degree of uncertainty. Having a system allows us to maximize the chances that our decisions will generate results aligned with our goals.
We are going to go through a system that confronts us with beliefs that we consider untouchable to evaluate if, in truth, they are the best ones that we can adopt. The good thing about this model is that it can not only be applied to the professional area: by making small adjustments it can be adapted to issues that go beyond that area; for example, choosing a destination for vacations or —even— a place to live.
Step 1: Narrow down the problem
By “problem” we mean an issue that needs a resolution that depends on you choosing one alternative or another among a number of available options. The first thing is to have 100% clear and delimited the question about which you must make the decision, and that you translate it into a question. The possible answers to that question will be the options you have to decide between, and they must be mutually exclusive.
The action of putting the question (and the alternatives between which you must choose) in writing is very important, since it will force you to clean up what is perhaps not yet completely clear in your mind.
Step 2: Ask the right questions
Write as many questions as necessary to assess the strength of each alternative. Do not compare the alternatives with each other, because doing so could introduce – even unconsciously – your own biases and preferences and favor one over another. Consider each one independently.
Another “trap of the subconscious” is that you omit some question that is important to evaluate each alternative, or you put emphasis on aspects that are ultimately not relevant. Therefore, it is recommended that you share your list with someone you trust, so that they can give you their perspective on whether you should refine your list; or, on the contrary, incorporate other items to analyze.
Step 3: Data Collection
Make a list of the data you must collect to clear the questions raised. That task, of course, involves gathering information that is outside of your own opinions. It seems obvious, but it is essential to remember it: your opinion is very important, and it is the one that will have the last word at the end of this tour. But, without data to back it up, you can fall into the trap of being guided by subjective perceptions that do not always correspond to reality.
Step 4: Analyze the information
This is the step where you must integrate the information gathered about each alternative, and answer the questions you created in step two. Once all those questions have a concrete answer, it’s time to assess the strengths and weaknesses of each option.
It may happen that not all these points have the same weight for you: in this case, you can assign a value to each one; and, to simplify the analysis, make a weighted average in Excel. There is a phrase that says that if a problem cannot be dumped into Excel, it is because it is not well formulated. (and that applies to any kind of decision to make).
Step 5: Compare (but at the right time)
This step is only necessary if in step one you made a list with multiple alternative answers to the question posed (that is, the problem you must solve). If it was just a decision between two (the most common example would be “yes/no”), go directly to point six.
At this point, it’s time to discard alternatives and keep the two that you consider most convenient after going through the previous instances. You may need to explore new things that you didn’t initially think to include, and in most cases, a thorough Google search can answer those additional questions.
Step 6: Make the Decision
Once all the comparisons have been made, and with the objective data in front of your eyes, it is time to choose. If you are still having a hard time deciding between two alternatives, It is the opportune stage to put your intuition into play. In any case, remember that making a bad decision is often better than not making one at all. In this life, most of the mistakes we can make have a solution, and they will always leave us with the gain of learning to make better choices next time.
Step 7: Evaluate the results
Finally, comes this critical step (and as a marketer, I recommend that you never skip this step). After a reasonable time has elapsed since you opted for one of the alternatives listed in step one, it is time to analyze the results of your choice.
This is especially important in those cases where those results did not match your expectations. Was there a flaw in your analysis? Did you let your cognitive biases influence that analysis? Is there a step you think you should pay more attention to the next time you have to make a decision?
Benefits of applying a decision-making system
In short, adhering to a decision-making system allows you to strengthen your ability to decide assertively. And, as you put it into practice and see its results, your confidence in your ability to make good decisions will increase in direct proportion.
Also, the nice thing about this system is that it allows you to test your previous opinions about something and challenge them to see if they hold up. And, once you have the data that has shown, through the different steps taken, its solidity, you can add your intuition to the equation to make the final decision.
Many say that “what works, don’t question it”. And, ultimately, the only way to know if something works is to put it into practice. I invite you to try the step by step we went through in the next important decision you have to make. Therefore, do not leave this post in oblivion: take note of what it says, because it is very possible that you will be surprised —for good— with its results.
