Turbocharge Your Decision Making

Are you the type of Realtor that makes decisions too quickly and ends up getting in trouble by moving a bit too fast? Or are you the type of agent that suffers with paralysis by analysis and in a constant state or “ready, set….ready set…?” This week we share these little hacks to start making wise (and quick!) decisions in your personal and professional life.

1. Stick to your mission. In business and life, it is vital every big decision you make is within the scope of your mission.

You don’t have the mental or physical resources to spread your net too wide and still succeed. So always ask yourself which option best moves you toward your mission’s goal, and then the choice should be simple. What are your core values and mission statement and use them as a rudder to navigate your decision making process.

2. Set a time limit.

Give yourself a timer that helps you focus on the decision rather than having your mind wander and get distracted. With the pressure of a time limit, you’ll need to get to the heart of the matter faster and collect the pros and cons quickly, which you might not otherwise do.

3. Avoid decision fatigue.

Decision fatigue saps focus and reduces mental energy. Hundreds of trivial daily decisions degrade our ability to focus. I try to systematize small decisions so I don’t have to sweat the small stuff—task lists and mindful habit cultivation are key. When an important decision needs making, I’m ready to give my full attention.

4. Control what you can control.

At some point, a leader has to wear multiple hats until they have a team to offload responsibility. It’s important to focus on what is in your direct control. Worrying about things outside of your control will result in delaying projects. The more you focus on what you can control, the quicker you will be at making big decisions.

5. Understand pattern recognition.

Most of what we face each day is similar to other scenarios we have already experienced. By understanding this, it’s possible to quickly map a range of previous experiences and their outcomes. Leverage those to arrive at the most viable decision for this case. Over time, as you continue making decisions, their speed and quality will improve.

6. Decide whether the decision can be reversed.

Jeff Bezos said it best when he pointed out there are two types of decisions: decisions you can take back and decisions you can’t. Keep this in mind while making decisions in order to move faster as an organization. If a decision can be taken back after it has been implemented, don’t waste time being indecisive. Decide, implement, evaluate and reiterate if necessary.

7. Make a daily decision quota.

Commit to making a certain number of decisions per day. They can be small (Should I get coffee?) or big (Should I buy this company?), but the process is the same. If you keep track of how many decisions you make, you’ll start to make them faster and more often.

8. Use the common-sense stress test.

After running through a basic cost-benefit analysis, I call one—not five—of my smart friends in a different field who can zoom out and trim the fat off that analysis. As a company with academic roots, some of our team early on had been prone to consulting every conceivable “expert” for weeks or months without action.

9. Embrace uncertainty.

Action, not clairvoyance. When you’re trying to do something new, you won’t have 100 percent of the information you think you need; there aren’t always industry reports or best practices to adhere to, so accept you will be wrong 25 percent of the time and try to make as many decisions as possible, followed by execution.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s