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Smart decision making, whether it's who to hire or what strategy to play, is a skill that sets you apart personally and professionally. In this short course, Todd Dewett shows you five simple steps to making better decisions. He'll help you evaluate if you have enough time, sufficient information, the right people involved, and other key factors necessary to making strong choices.
Let's think for just a minute about decision making. Decision making is vital for your professional career, just as important as breathing is for life, which is why it's so amazing to me. That people put so little thought into how we make great decisions. First thing I want to tell you is that there's lots of models out there. All of them are useful. Go do the research. Find one that will be a structured guide for you and your team. Now, no matter what model you pick, I'm going to help you take a step further.
I'm going to give you five simple questions that will make you a flat out better decision maker. Five questions that will narrow the focus of what you're supposed to do and make the impact of your decisions far more significant. Step one, when you're making decisions and you're asking these questions is, do I have time. Every decision is not created equal. Sometimes, people habitually want to use intuitions and make decisions fast. Other times, they want to make decisions after tons and tons of analysis. I want you to remember, all decisions are not the same.
Ask yourself, when it's time to make the call, whether you're talking about who to hire, who to partner with or what new strategic plan you should adopt. I want you to remember to ask first, do I have the time to think through this systemically or is it time to make a gut call, use intuition. The advice here is very simple. Intuition is awesome But first, I want you to ask yourself, how novel is this situation? The more novelty you see in this situation, the more it's unique from things you've done in the past, the more intuition can actually hit you in the gut and be a problem.
That's when you want to step in and think through a model, a systematic approach to making a decision. Assuming you have some time, I want you to ask yourself something very honest. Ask yourself, if I had several extra hours to invest in trying to analyze what I'm going to do for this decision, would that time actually help me make a 20 or 30% better decision? The answer is yes, maybe you consider investing more time. If the answer is no, oh, it's time to make a call and move on because you're busy and you have things to do. Step one, ask yourself about the time requirements.
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