In the complex and fast paced world we live in, it can seem almost impossible to make effective decisions these days, especially with so much choice out there. So here are 5 tips guaranteed by Abundance Coaching to make you better at decision making:
1. Satisficers vs. Maximizers
In 1956 Herbert Simon was the first person to coin the term ‘satisficers’ to refer to someone who takes an adequate solution as opposed to the optimal solution. The difference between satisficers and maximizers is that satisficers will make a decision once all of their criteria has been met. This does not however mean that they settle for less, as these criteria may have quite high standards, but once they find those standards, they stop looking. But for Maximizers, they must go through every option before making a decision in order to make sure they are not missing out. This takes a lot more time and energy to do, and even after making a decision they are often still worried that they didn’t make the right one. Studies have shown that Satisficers are much happier than Maximizers.
2. How Less Can Be More
In decision making, often a lot of information can be too much. For instance if there are multiple things that you must consider in order to make a decision, but one of them stands out as by far the most important, it usually means that that one piece of information is enough for you to make your decision. Trusting your gut in these situations can save a lot of time and energy.
3. 3 Kinds of Intuition
William Duggan, a professor at Columbian Business School, believes that there are 3 types oof intuition. The first is Ordinary intuition, which is a gut feeling. The second is Expert intuition, which comes from experience and expertise and is normally a snap judgement made from identifying patterns. The third is Strategic intuition, which is much slower than Expert intuition and works best for new situations where a pattern has not been established yet. The problem with Expert intuition is that if your brain recognizes a pattern in a new situation, it may make a snap decision that could cost a lot in the long run. With new situations Strategic intuition needs time to work, and will help you find the best solution.
4. Trust Experience
To make a decision that you have no experience with, the best thing you can do is to ask someone else who has had experience with it. Trusting their experience rather than wasting time conducting your own research can be a much more effective way of making the right decision. Learn to trust friends and colleagues when it comes to their experiences and opinions on those experiences.
5. Choose Your Battles
Some decision deserve more time than others. A serious work venture needs more time than choosing the right toothpaste, so don’t waste hours researching the best toothpaste. Choose your battles and save your energy and time for the decisions that really need your mind at its sharpest. Ask yourself if the decision is really all that life changing. If it isn’t, make the call and simply move on.