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5 Strategies to Help You Make Winning Decisions

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how to make the best decision

Have you regretted any of the decisions that you’ve made? I’ll take a wild guess here and say “yes.” We all have walked in Remorse-land many times and have made mistakes we would gladly erase if given the chance. So then, if someone comes to you and offers you a time machine to go back and alter some of your not-so-bright choices, you would take it, right?

Of course, this all makes for an enticing plot of a Hollywood blockbuster, but in reality, such kind of magic doesn’t exist. How about then if you are given the next best alternative, the tools to make better decisions from the outset, rather than living with regrets and wishing to have the power to bend time?

Here are five strategies which will help you become better at picking the winning option:

1. See the future you

In his widely-popular research, Hal Hershfield, a UCLA associate professor who has studied for years how people can make better long-term decisions, asked participants to envision themselves in 10 years. fMRIs detecting brain activity showed that we think about our older selves the same way we do about complete strangers.

But when part-takers were shown computer-altered pictures of themselves looking near retirements age, things changed— they allocated twice as much money to their retirement fund vs. buying something new today.

The rather salient takeaway here is that, to make better decisions, we must imagine how they will impact our future selves. If you believe a choice will help you get you closer to the future happy and successful you, then, by all means, take it. But if you are unsure, better have another think.

2. Expand your pool of options

An excellent piece in the NYTimes describes a study by Paul Nutt—a Professor of Management at Ohio State University, who, in the early 1980s carried out a study among senior managers at public and private companies in the U.S. and Canada on how they made decisions. He found out that half of the decisions in companies failed because people tended to take shortcuts and didn’t spend sufficient time looking for alternatives and evaluating them (only 29% did so).

And this can cost us. According to other research, when we ignore assessing other options, our chances for success are about 50 %, while decisions involving at least 2 choices lead to a favorable outcome in 2 out of 3 cases.

To come up with some quality ideas, in addition to expanding the size of our canvas, we should involve other people in our brainstorming endeavor, draft a list of the choices and assign weights to each. The highest score wins.

These approaches will enhance our decision-making skills, which, in turn, will give us a shot at something much bigger; a chance to reach our goals, be happier and have a more fulfilling future.

“Panic causes tunnel vision. Calm acceptance of danger allows us to more easily assess the situation and see the options.” – Simon Sinek

3. Limit your pool of information

Yes, this idea goes directly against the above point and sounds counterintuitive, but if you get to think about it—it does make sense. Studies from Princeton and Stanford Universities, have revealed that when we immerse ourselves in a sea of information, we may end up pursuing non-instrumental data, which we then use to make decisions.

Naturally, the quality of that outcome will be questionable. Sometimes, we may end up with a choice that we wouldn’t have made altogether (and possibly regret it later on) if we didn’t rely on this irrelevant information.

How do we end up in such a position? It’s driven by our aversion to uncertainty. Simply put, our brains hate volatility and try to resolve it any way they can. One way is by seeking any information that seems like a good candidate and hastily pick it.

Phew, problem solved! Move on. But, as research tells us, seeking out more details do help make a decision, but it may not necessarily be a good one.

4. Take a page from Darwin and Franklin

When Malcolm Gladwell published his book Blink: The Power of Thinking Without Thinking in 2005, the world was fascinated by the idea that we can make complex decisions with very little effort—just by trusting our gut instinct and by ‘snapping it.’ That is, the book offers some research to support the idea that quick solutions based on intuition can yield surprisingly successful outcomes.

Sounds great but many subsequent studies don’t quite support this. What’s more, sticking to the “old school” ways of making decisions such as conscious thinking and evaluation of alternatives, can lead to more high-quality results.

Just take a note from Darwin who used the pros-and-cons list to make the most important decision of his life—whether to marry. Ben Franklin, similarly, always used this same “simple” method when confronted with challenging choices. Sometimes, the conventional non-fancy ways to make decisions happen to be the best options.

“Warren Buffett told me once and he said always follow your gut. When you have that gut feeling you have to go with, don’t go back on it.” – LeBron James

5. Kill the Company

“Kill the Company” is a best-selling book by Lisa Bodell—the CEO of a consulting company which helps businesses embrace change and innovation. The basic premise of the exercise is that executives are asked to brainstorm all of the ways in which their company can go down. Then, packed with this insight, they work backwards to try and remedy the loopholes in their processes, strategies and choices.

The idea has proven very effective and easy to practice. Just imagine that a decision you pick today turns out to be a complete failure in the future. What will you do to ensure a better outcome?

In the end, our decisions are the foundations of the future lives we build for ourselves, as they have the power to directly affect our success trajectories. While taking the wrong turn may not always have catastrophic consequences, we are also rarely given a do-over in life.

And why is it so vital that we keep honing our choice-making skills, you may ask? It’s very simple—YOLO.

Which one of these strategies to make winning decisions resonated most with you and why?

Evelyn Marinoff is a writer and an aspiring author. She holds a degree in Finance and Marketing,  works in client consulting, and spends her free time reading, writing and researching ideas in psychology, leadership, well-being and self-improvement. On her website evelynmarinoff.com, she writes tips and pieces on self-enhancement and confidence. You can also find her on Twitter at @Evelyn_Marinoff.

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4 Reasons Why Content Is Pivotal For Mental Health Healing

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One of the most important things for an entrepreneur’s mental health is expressing their feelings, thoughts, and emotions. This is where content creation and writing becomes pivotal. Whether you read something that resonates with you or you write a compelling blog post, the act of expressing yourself through content can help to put a smile on your face and make you feel better about things.

Most entrepreneurs don’t spend as much time taking care of their mental health as they should. Over the course of your career, you will experience a lot of ups and downs; these emotions have the potential to take a toll on your mind and body if you don’t learn to manage them properly.

Here are four reasons why expression through content is pivotal for healing, slowing yourself down, and giving yourself grace when the going gets tough.

1. Content can be a form of self-expression

When you are an entrepreneur, you frequently face feelings of insecurity, doubt, fear, apathy, and exhaustion, just to name a few. Some days it feels like no one is on your business’s side and everyone else has it all figured out. On those days some of us try to look at our website’s analytics to cheer up. 

But an even more freeing task is creating content. You create content to improve your business and reach more people’s lives. But, there is something special that happens when you write with the intention of expressing your thoughts and feelings — you open a door to yourself. 

Content is inherently personal, which means content creators open themselves up when they share their thoughts on a platform. Everything from the title of the post, the keywords they choose to include, and even the content itself helps you to understand who the author of that post truly is. And as an entrepreneur, this can be an important experience because it allows others to empathize with you.

2. Self-reflection will lift you up

As you think through what to write about and how to express yourself, the process of self reflection is a valuable step you need to go through. You’re able to reflect on the blessings you have, assess what you learned from the negative experiences, and create a plan on how to maintain the positive experiences you’ve had. 

There are a few ways that self reflection can help you with mental health healing. The act of reflecting on your experiences helps to create clarity in feelings, thoughts and emotions which will eventually lead into acceptance for what has happened or is happening currently without feeling overwhelmed by it all. This process also leads people towards finding new things they enjoy doing. Self reflection is therapeutic and can be implemented anytime you feel the need to overcome overwhelm.

“Writing in a journal each day allows you to direct your focus to what you accomplished, what you’re grateful for and what you’re committed to doing better tomorrow. Thus, you more deeply enjoy your journey each day.” – Hal Elrod

3. A sense of belonging and camaraderie

It is important to have a support network of people who will listen and understand what you are going through. When you post a blog or upload a video on YouTube, there are others who feel the same way and experience a sense of connection with you.

When you put time, attention and thoughtfulness into your writing, it is amazing when someone reads what you’ve written and comments on it thanking you or expressing how they resonate with what you’re going through. It’s hard to put into words how powerful it feels when someone who has gone through the same experience and reads your words then reaches out.  There is power in expression but miracles happen when people bond over a similar experience.

4. Library of content to share with more people

It can be very difficult to know what content to share with people as the symptoms of mental health disorders (anxiety, depression, etc.) vary from person to person. But as you accumulate more and more content, this will increase the number of articles or videos available for readers to choose from depending on their specific purpose. It also builds your personal library of resources you’re able to share to different people you encounter or engage directly with.

As chaotic and distracting social media can be, it can also be a beacon of hope with the right content. Many people share viral posts, or content that interest them. Since your content is valuable and personal, the more you share it, the more likely it is to be shared with the right audience.

You never know who is watching (reading)

Your content is speaking to someone and even though they may not be actively engaged, their experiences with your work are impacting them. Think about the last time you watched TV: did everyone in the room have something entertaining to say? 

You never know who’s watching because there’s always somebody reading your posts or viewing your videos-even if they just skim through it briefly. This is why creating content worth consuming is critical, not only to get you out of your funk, but also to serve your audience.  Be authentic and stay true to yourself; make every post count as an opportunity for connection with your best self and for potential readers to bond with you.

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