I wanted to pen some thoughts on the decisions we make on a daily basis. If you were to compare it to forex trading, it isn’t very far off. Decisions are best when made objectively. If you were to make it in the heat of the moment, you might not have considered if there were any better ways to go about it
1) Is the decision required ?
Take a moment and evaluation the situation. Is a decision necessary in the first place?
2) Is there a better way to do it ?
If you have to do something, that’s fine. Next step would be to determine if there is a better way to do it.
3) What conditions will be required for success ?
The last thing you want is to jump into action without an exit plan. Define clear conditions that are required for success.
4) What are the conditions that defines a failure ?
Looking when to stop is important. It is better to cut your losses and evaluate rather than forge on without a clue.
5) On going monitoring
Decisions are not fire and forget missiles. Situations change and unexpected challenges will happen. You need to be on top of the happenings until the end is achieved.