Monday, January 11, 2016

5 COMMON MISTAKES IN DECISION MAKING

decision

Avoid These 5 Mistakes...

One of the greatest skills a leader can have is the ability to make effective decisions. Leaders make dozens of decisions every day that influence the success of the company while also having an impact on employees, customers or the marketplace. Developing such a skill requires a combination of education, experience and intuition. 

But sometimes making a decision is very difficult and leaders get bogged down with “indecision”. Sometimes this comes from fear of making a wrong choice. Sometimes it comes from a lack of information. Other times, it’s from information overload. 

No matter the problem, sooner or later a decision has to be made… and as a leader, we want to make the best decision possible. But many times, we make mistakes in our thinking process that dooms our decision from the start. Usually, those mistakes are due to our perceptions and limiting beliefs that need to be removed from the equation. 

Avoiding the 5 common mistakes listed below can help you be more effective in making decisions. 


1. Relying too much on expert information. Oftentimes, people have a tendency to place too much emphasis on what experts say. Remember, experts are only human and have their own set of biases and prejudices just like the rest of us. 

By seeking information from a lot of different sources, you will get much better information than if you focused all of your energy on only one source.


2. Overestimating the value of information received from others. People have a tendency to overestimate the value of certain individuals in our society and underestimate the value of others. For instance, experts, authority figures, parents, high status groups, people who seem to have it all together, and people we respect have a way of swaying our opinion based simply on the fact that we believe they know more than we do. 

When you find yourself doing this, ask yourself:  Do they know as much about this problem as I do? Are their values the same as mine? Have they had any personal experiences with a problem like mine? In other words, keep their opinions in perspective.


3. Underestimating the value of information received from others. Whether we realize it or not, we also have a tendency to discount information we receive from individuals such as children, low status groups, women and minority groups, the elderly, homemakers, blue-collar workers, artists, etc. This is unfortunate since many times these groups can paint a good picture of the other side of your problem. In other words, these groups may use entirely different values and perceptions in their answers to your questions. The result is a larger perspective of what the issues really are. 

Just make a note that if you find yourself discounting the information you receive from anyone, make sure you ask yourself “why”.


4. Only hearing what you want to hear or seeing what you want to see. Try this exercise. Ask a friend to look around them and make note of everything that is green. Now, have them close their eyes. Once their eyes are closed, ask them to tell you what around them is red. Almost everyone you ask will not be able to tell you what was red because they were focusing on what was green. Our perceptions work the same way. If we have expectations or biases that we are not aware of, we tend to see what we want to see.  Likewise, if someone tries to tell us something we do not want to hear, we simply do not hear them. 

This is a common mistake that many people make. The key is to be aware of your own prejudices and expectations while at the same time staying open to everything that comes your way.


5. Not listening to your feelings or gut reactions. Have you ever made a decision only to have it be followed by a major stomach ache or headache? This is your body talking to you. Our brains are constantly taking in more information than we can consciously process. All of this extra information gets buried in our subconscious. Although we may not be able to retrieve this information, our body stores it for us until it is needed. In moments when we need to make a decision, our bodies provide clues to the answer through feelings or gut reactions. 

Unfortunately, our society teaches us to ignore these feelings, but by tuning into your intuition, you will find that you will make much better decisions in the long run.



Bottom Line – 

The ability to make a decision is essential for growth as a leader. If you enter a decision with the knowledge that making the occasional mistake is inevitable, and you accept you must decide in spite of uncertainty, then you will never get stuck in a pit of indecision. By avoiding the mistakes outlined above, you empower yourself to make an informed and thoughtful choice, making yourself a more effective leader.



Believe to Achieve!



Joe Vulgamore is a Life Coach and Leadership Development Specialist - as well as a Personal Development Author and Speaker. He works with people to develop life and leadership skills to sharpen their edge, perform at optimum levels, and achieve excellence. He has 30 years of leadership experience and a proven track record of helping thousands of people from over 14 countries, across 5 continents, to make life-transformations through one-to-one coaching and workshops.


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