Decision Making
How to take better and faster decisions?
From choosing your clothing to choosing your spouse, we are surrounded by decisions. This article will help you reduce the time and effort needed to make a decision
Decision Fatigue
When our brain is trying to choose between one or more things it drains a lot of brainpower. This Fatigue leads to waste of time, effort and sometimes to the wrong decisions.
Decision Duration
Find the impact size of the decision in terms of time and money. Convert the money into the time taken to earn it. So, if you earn 10 thousand per month, an investment of 60 thousand is worth 6 months. Set a deadline for 0.1 % of this duration to take the decision. Here, 0.1 % of 6 months = 4.32 hours.
How to take Decision
1. Priority List
Write down a priority list on a piece of paper and give weightage to each item. For example: while buying a phone — Camera = 20, Processor = 25, Battery = 10 etc. Be oblivious to the options while deciding the priority list, look at only what you need not what options can provide.
2. Constraints
Write down your constraints, For example, Budget, Availability, etc. Writing down your limits early on will prevent you from crossing them due to any lucrative deal. Find make or break factors for example — The phone must have 5g capability else you won’t buy it.
3. Give Points
Give points to each option you have. Find the total points for each option. If you need advice then get it from someone who knows more than you. Taking advice from less qualified people will only waste time.
4. Revise Points system
It is possible that after finding the points you want to change the points system because it is not doing justice to the features of the items.
5. Disqualify
Cross out the options that have too low points or are out of your constraints.
6. Tie-Breaker
In case, you end up with more than one similar option then toss a coin and whatever option comes to your mind while the coin is in the air choose that option.
7. No Regret
Whether your decision was right or wrong, you gave enough time to deciding and you won’t look back. Make your choice the right choice and look at the positives of the decision.
