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Effective Methods For Making Better Decisions

Effective Methods For Making Better Decisions

February 03, 2020 / Patrick Zavorskas

Decision making does not have to be a difficult one - either one you choose, know there is no right and wrong answer, rather just choices to be reflected on later to find the positive in the situation. Whether you are worried about making the wrong decision or stressed about how the decisions may turn out, there are methods to help in make better decisions to avoid any nervousness! Here are a few tips that we have found to help you make better decisions.

Identify What Goes Into Making Decisions

One of the best tips for actually making better decisions is learning what goes into making decisions in the first place. Not only will learning what goes into making decisions keep your more organized in achieving your goals through decision-making, but also alleviate a majority of stress and time that goes into choosing which path to take. In breaking down decision-making, these are the five key elements:

  1. Identify Your Goal - What do you want to accomplish at the end of making the decision? How you can go about making sure you have a clear-image of what you want to achieve? These are all key things to think about when identifying your goals. 
  2. Gather Information - Make sure that when gathering information, you are gathering research that is relevant to the goals you want to accomplish. 
  3. Evaluate Your Options - What are pro's and con's that make up each decision? Are there any that outweigh the others? 
  4. Make Your Choice - the choice is yours at the end of the day!
  5. Evaluate - Take time to reflect your decision. Was it the right choice in the moment or further down the line? What are the positives that came with it? 

In knowing how to effectively make decisions by following this simple structure, you will surely be making better decisions in no time!

Learn New Tools To Make Decisions

In making decisions, you might be making the wrong ones simply due to the method that you choose.  In effectively making better decisions, it is important that you have the right tools to help you! Ensure that whatever method you use is right for the moment in which you are making the decision. We made a list of effective methods that might work for you:

  1. Make A Decision Matrix - Decision matrixes are an easy method to help you make complex decisions faster. They are beneficial in not only prioritizing tasks, but they can help in solving problems, and making argument to back up the decision you've already made. In making a decision matrix, list all the options in columns and all the factors in rows. Next score each option and tally the results. 
  2. Make A T-Chart - A T-chart can help you weigh the pro's and con's of a situation, while providing a list of all the options. It makes sure that everything is being taking into consideration and that the negatives aren't being avoided. 
  3. Make A SWOT Analysis - SWOT analysis are usually something often talked about in a marketing class, but can easily be applied to everyday decision making. A SWOT analysis outlines the strengths, weaknesses, opportunities, and threats of each decision. It allows for you to get a complete overview of the situation, while providing valuable insight that can help make better decisions. 

Know When You Are Misidentifying The Problem

One of the most important things to consider in making decisions is whether or not you are misidentifying the problem. Many times, the problem is easy to find and will be obvious. However, there may be times where issues arise and the problem isn't as clear. Take time to really invest in being sure you know exactly what the problem is. It will help you effectively make sure you are putting your efforts where they need to be, rather than wasting time. 

Overestimating The Outcome

One last thing to consider in making decisions is overestimating the outcome. We often want to place bias in decision that we think are the more beneficial, thinking that the outcome is going to be best thing to happen. Know that making a decision on the outcome alone may not be the most plausible solution. Consider this with the tips above to effectively make better decisions within the future. 

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-Patrick