Survive from the bad decisions

 

When I look back, I can see at least 10 major wrong decisions I have taken over the years, at least 5 of them very crucial, and each of them has hugely affected my life in terms of financial and psychological factors. I can also see at least 5 decisions that clicked and also has affected my life very positively.

In life, cost of some wrong decisions are huge. Decisions are key parameters of life, but they depend on many factors. Actions taken on the decision, Speed of taking the decision, accuracy of the premises, detachment of sentiment or emotions, suppression of egoistic tendency, research and analysis on the options, criticality of the decisions, time period of the effects- short /medium /long term, conviction on the decision, moral and ethical view, legal angle, possible consequences, situational constraints, resource view etc.

I searched in Google and found many kind of discussions and the key factor synthesis, one of which I have given above, but I found most of them too academic and theoretical. The practical application side is quite missing. Particularly the step on identification of the decision criteria is too important if you think of it strategically, which is much more focussed on the ultimate objectives and fulfilment of those by the solutions. Peter Drucker invented the theory of MBO, or Management by Objective in the 70s, based on which most of the later strategic management theories started coming out. I would also stress that the essence of decision taking is to have proper practical and pragmatic decision criteria. If you just look at the process by which boys often choose their girlfriends or wives, you will wonder what kind of stupidity get into us most at that kind of age.

Good decision making is an essential skill. Life is ultimately the sum total of the string of decisions taken in life. All our lives, we walk on and constantly reach the crossings where “Two roads” have diverged in the yellow woods. And the road we take, or rather the road not taken, would affect our lives, some to a limited extent and some will have serious effects and consequences. We take hundreds of decisions in a day even, including putting the alarm on snooze for 1 more time to what to have in the breakfast, but most of them inconsequential apparently, though they can sum up over a long period and can influence some important factor.

So, ultimately, the more right decisions we take or the less bad decisions we take, our lives will be richer and more fulfilling in every aspects, be in financial, be it happiness related or be it relationships. But to take more good decisions, we need many things, we need knowledge, relevant home-work, situational analysis, courage, confidence, strength of character, attitude, Drive and commitment, basic knowledge in some common legal aspects, negotiating skills, thinking ability of different hues, humility to seek advice etc. But this usually takes a lot of training and time to create and develop these qualities. Many of these factors are together called “Common sense”, about which G B Shaw had written that “Common sense is the most uncommon thing in common people”.

When in doubt, one should buy time for an answer or commitment or decision. Most wrong decisions are hasty and impulsive decisions. This is my experience too. This is why many cheater kind of organization, e.g. the timeshare selling companies, insist on immediate decision, saying the offers are only for that day. Try to keep the options open for you for as long as possible, even if that costs a little. Often, a little extra time in taking the decision opens up more options, provides more clarity, lead to change of situation, does away with situational constraints, gives more time to research, gives opportunity for taking advice. But sometimes, some decisions need to be taken in lightning speed, otherwise that opportunity goes out of hand. I have had this experience from both sides of the fence.  

In any major decision, seek advice, from your Gurus or experts or well-wishers. Some of them may mislead, but generally these 3 category of people are only trustable and the rest are not.

There are many methods and processes of decision-making which can give a structured look at it. One of them, for example, is “SOAR through decisions” which involves four distinct steps and with right people and being transparent at each of these steps, one can have tremendous benefits. The steps are like Situation-Objective-Analysis-Recommendation.

Note that :

·        Don’t put the steps into a muddled discussion, the best decision is not very likely as the final decision will most probably be governed by one of the three factors, Fatigue, Enthusiasm and authority.

·        Lack of process clarity is dangerous. Rather step logically through a process with right resources only at the right time, say experts on that areas, you may have best decisions with minimum waste of time, which is often a critical component of any decision.

·        Process clarity and clarity of purpose can often be achieved in a decision making if a proven process known by the key stakeholders can be used. E.g. There is a process called SBAR in healthcare, translating to Situation-Background-Assessment-Recommendation. Clinging to a process like this also improves one’s ability to formulate as they are very instructive

·        Criteria guiding the decision, The OBJECTIVE factor which are really the goals and constraints, is crucial. If the objective is convoluted, all other factors will fail. In my hostel days, one of my room-mates had fallen head over heels for a girl of my class (the guy was in a different branch) whom we did not like much for her attitudinal aspects. When we confronted our friend that why he is so keen on that girl who in any case was attractive, he finally confessed that the girl has “terrific boobs”. We laughed a lot, and promised that we will find her a girlfriend of even better points on that factor, much later I understood how often a most important decision like marrying someone (that will affect the next 40 years of your life) is taken, on what kind of shallow factors.

·        Commitment on implementation often is more assured when the decision is taken on a logical informed and fair process, with all interests represented. Muddled or thrust decisions create more cynics and sceptics than the committed implementers.

Small issues and egos have to be carefully handled and the big perspective has to be in focus. I had experienced how people had decided against a deal for a couple of hundred rupees when the deal was of a thousand times in value. You may decide to let not even a rat come out of the front door while the elephant will bolt from the back.

Try not to take any decisions out of the emotional states like boredom, fear, anger, ego, infatuation, sensuality, nonchalance etc. Decision taking is an art and should be learnt as the most basic skill of any person, to be used in all compartment of life, business, professional, personal, spiritual etc. But remember, try to find Gurus in life. They may come from all walks and you must filter the essence from any of them.

Decision is ultimately the single biggest differentiator between success & failure