Advertising
Advertising

5 Techniques To Make Better Decisions

5 Techniques To Make Better Decisions

How can I make better decisions?

I browsed the web and ended up on Qoura reading the most popular answers. People often suggested, “just do it,” “ignore fear of failure,” and “never turn back.”

I thought it over and really considered it. If I simply ignored the “fear of failure” and just “did it”, would that really be making a decision? Absolutely not!

“Just doing it” results in even more failures and even more regrets. Imagine if general George Patton just ignored his “fear of failure” and recklessly charged straight into enemy lines without a plan! Image if you, or your family and loved ones ignored all risk and “just did it” instead of taking the time to make a well informed decision.

Imagine if we applied those same results for:

– Buying a house

– Quitting your job

– Having kids

– Investing in a new business venture

– Getting Married

Advertising

– Having a vasectomy

– Plastic surgery

It probably wouldn’t end up so well!

Instead of flipping a coin, using your magic 8 ball, or “just doing it”, here are 5 techniques to make better decisions.

1. “I cannot decide on what I do not know!”

Hal wanted to quit his job. After his workday was over, he sat down with a pen and paper and came up with a massive list of pros and cons. He wrote out everything he wanted to do and how he was going to make money. He imagined over and over the freedom and excitement that he would gain after leaving. The next day Hal walked into work and quit.

This may sound great to some but, the problem with Hal was that he did not know enough to make a good decision yet! He rushed what he actually had plenty of time to do.

Everything that he imagined and dreamed about was blurry. All the “facts” that Hal used to make his decision were NOT verified facts, but rather bits and pieces that he heard from his friends or picked up on from the far corners of the internet. Hal is extremely jaded.

Hal then replayed the same facts over and over in his head (thinking they were real). No new information was being added to the equation to allow him to make a better decision.

We often jump to conclusions when making difficult decisions that require serious thought and planning. We must first gather more information because:

  1. You do not know what you do not know!
  2. You cannot decide on what you do not know!

If I asked you to solve the following equation A + B + 2Z – 10X = P could you do it?

Advertising

Not right away because there are too many unknowns! You could guess or use trial and error but that takes too much time and a great deal of effort in real life. We need to go out and collect more information to make a better decision.

We do not have all the answers

2. “Maybe you can help me?”

The quickest way to gathering more information to make that tough decision is to go out and ask other people. However, there is a trick. Ask the people who have already done it! Stay away from the people that don’t have any experience but seem to know everything.

This year, while I complete graduate school, I wanted to participate in applied clinical research. More specifically, I wanted to design and develop medical devices from a clinical need.

Instead of “just doing it,” I decided to reach out to a respected faculty member to see if it was a good idea. I went to him and poured my heart out. He looked at me like I had 2 heads and shunned me away!

I took the advice to heart and sulked a bit. Instead of just quitting, I decide to gather even more information! But this time, I reached out to other schools including MIT, Stanford, UMN, and Johns Hopkins. The information and feedback I got was amazing.

Why? Because all these schools were actually DOING IT! That had already developed over a hundred medical devices in the same fashion I wanted to do. Not only that, they had specific programs to help people like me who wanted to do that kind of research and design.

On the other hand, my school was not doing it and the professor I reached out to wasn’t either.

-Ask the people who are doing it or have already done it to get more information.

3. Seek the Devil’s Advocate.

As human beings, we are self-confirming. We naturally seek out information that we already agree with and tend to ignore information that we disagree with. Skepticism and denial can be good in some instances, but these characteristics must not be confused with being hard-headed.

Advertising

Imagine 2 documents sitting right in front of you, one with information you agree with, and the second with information you disagree with. Whether you are right or wrong, or whether the information is right or wrong, you will pick the document that you agree with first and consider that information more seriously. Obviously, whether you are right or wrong, you will pick the document containing information you agree with first and take that more seriously.

Let’s go back to the “should I quit my job” example. You probably already REALLY want to quit your job and have already made up your mind. Now, instead of making a decision, you are just confirming your existing desire to quit, by collected confirming evidence. This confirmation bias blinds us from the obvious and has lead to some of the worst business decision ever made (for example, Quaker Oats‘ aquisition of Snapple).

To counteract this, reach out and collect information that opposes your existing viewpoints.

Good businesses use this process all the time. When Fortune 500 companies make big time investments (like acquiring another company, investing in new ventures, downsizing, re-sizing, etc.), they hire a completely separate team to investigate the opposing viewpoint, and then seriously consider the opposite.

Remember, “De-Nile isn’t just a river in Egypt.”

4. Beware of the sham options.

Everything seems great in comparison with something crappy.

The other day I was watching HGTV’s Home Hunters Abroad. A couple was shopping for a beautiful island home in Caruso. They required two things: it had to be less than $400,000, and it had to be rent-able.

The couple contacted a real estate, who I now realized was skilled in the art of sales. He lined up 3 beautiful houses. House number 1 cost $399,000 and was perched on top of a hill overlooking a magnificent clear blue bay. The couple fell in love with the view and was seriously considering buying the house until they found out the new construction would get in the way of their ocean view.

After seeing how the couple reacted to the ocean view, the real estate agent quickly changed his sales tactics. He showed them house #2, which had a stunning ocean view and a white sand beach a few steps from their back door.

The only problem was the house was $489,000 – a full $89,000 over budget. The couple was so angry at the real estate agent that they considered replacing him.

Advertising

Finally the last on the list, house #3, had no view, was not rent-able and was $10,000 under budget.

Which house did they chose?

The couple went with house #2 that was $89,000 over budget! They made a poor decision and broke the bank because they were not aware of the sales trap the real estate agent set.

House #2 seemed like the best option in that context, compared to the shame option of house #3. In a different context, going an extra $89,000 over budget is a bad idea.

What they should have done was not buy anything and waited until something else showed up. However, when you are in the middle of a difficult decision, sometimes it’s hard to gain that kind of perspective.

5.  Factor in the opportunity cost

How could the previous couple in the home buying example snap out of the mental trap set by the real estate agent?

The couple needed a change in perspective. When dealing with big number numbers like $400,000 and $486,000 the difference might not seem that much, but let’s take another look and consider the opportunity costs.

What is another to $89,000 to you? Well it’s another 2 years of saving every single cent of your paycheck (assuming you make ~$60,000 before taxes). Which means you cannot eat, buy gas, go out, or do anything for 2 entire years. You must save every single penny of your paycheck to afford the difference!

Here are more examples of what they could have bought with the amount the went over budget by:

Conclusion

Next time instead of jumping to conclusions and “just doing it”:

  1. Take some time to gather more information. You don’t know what you don’t know.
  2. Get more information people who have already done it, not the people who are trying to sell it.
  3. Seek the devils advocate and seriously consider what they have to say. You might be just confirming yourself!
  4. Beware of the shame option. All other options seem great in context to a crappy one.
  5. Gain a greater perspective by considering the opportunity costs.

Featured photo credit: thinker / Dan Mckay via flickr.com

More by this author

5 Techniques To Make Better Decisions 5 Proven Unconventional Strategies To Make Your Mind Peaceful Again

Trending in Career Advice

1 Clueless On Your Career? Sabbatical vs. Career Break 2 9 Tips for Starting a New Job and Succeeding in Your Career 3 10 Essential Career Change Questions To Ask Yourself This Year 4 10 Job Search Tools Every Jobseekers Need To Know About 5 If You Have This Key Behavior, You’ll Be More Successful Than 90% Of People

Read Next

Advertising
Advertising
Advertising

Last Updated on September 18, 2019

11 Hard Skills That Will Land You More Career Opportunities

11 Hard Skills That Will Land You More Career Opportunities

Are you looking to move up the career ladder? Or maybe you’re tired of having a “job” and want to start looking for a more permanent career?

Whatever your motivation, you are going to have to learn some new and different hard skills to broaden your opportunities. After all, there’s a very famous quote that says:

“The definition of insanity is doing the same thing over and over again, but expecting different results.” – Albert Einstein

While the insanity part doesn’t really fit here, the overall message is a good one. If you are looking for a different result (career advancement, more money or even a career instead of a job), it’s up to you to make it happen. This is both the good news and bad news!

The good news is that because it’s up to you, you have complete control over it happening. The bad news is that change is hard. Humans are creatures of habit, that’s why we develop routines, and anything that disrupts that routine causes us anxiety. And we will do almost anything to get rid of that anxiety. The overweight person will calm their anxiety by eating that doughnut, the smoker will light up a cigarette to avoid anxiety.

What we want to do with this article is to give you the hard skills you’ll need to reduce that anxiety so you can move up that corporate ladder, make more money or have career instead of just a “job.”

The following hard skills are essential to learn if you want to advance your career. They may not be easy to take up, but definitely worth your effort of learning:

1. Cloud Computing

“Simply put, cloud computing is the delivery of computing services—servers, storage, databases, networking, software, analytics, intelligence and more—over the Internet “the cloud” to offer faster innovation, flexible resources, and economies of scale. You typically pay only for cloud services you use, helping lower your operating costs, run your infrastructure more efficiently, and scale as your business needs change.” Microsoft[1]

There are many different jobs available in the cloud computing world today. They range from architects and developers to data scientists, security pros. Each job is its own specialty and requires a high level of specification for advancement.

This is definitely a hard skill that requires education. But if the tech world and computers are your thing you can make cloud computing a lucrative career.

Advertising

2. Data Mining and Statistical Analysis

Again, these are highly specialized fields. Data mining is defined as using large sets of data to look for anomalies and other patterns that can be used to predict future behavior.

Amazon is probably the best known company to use data mining. Have you ever noticed that when you buy something at Amazon, you’ll see a little ad at the bottom that says “customers who bought this also bought…”and it lists 2-3 other items? All of that information comes from data mining, by examining the millions of sales amazon makes they can predict that if you buy item #1 there is a high likelihood that you will buy one of the other items too. T

his not only increases sales for Amazon, but it also serves as a reminder for you that you may need these additional items for your project. This is very valuable information and has a wide range of uses. Although it has a bad reputation and evil sounding name, it is a very useful tool for maximizing productivity and sales.

3. Data Management

All companies today deal with a ton of data! Being able to manage that data in an efficient manor is not only highly prized, but a necessity.

We all have these things on our desks called computers. Unless there is a need for a paper copy, almost all of our data is computerized. Meaning that, in theory it is all at our fingertips. Being able to organize that data so that it’s easily and quickly retrievable is why computers are replacing filing cabinets!

However, just like the old fashion filing cabinet, data management on a computer is only good if it’s well organized. You want to make sure that you are keeping your data well organized so that it’s easy to find when needed. This is a skill that comes easily to some people (are you a person that makes lists? Good!) but with others it will be a skill that needs to be practices. Make sure that this is a discipline you master.

4. Scheduling

Being able to make and keep to a schedule is a very useful tool in both business and life. Effective scheduling means that you can prioritize projects, understand the tools needed to get the job done on time and that you are organized enough to lead people.

An important point here is to write things down! Whether it’s in an old fashion daily or weekly organizer or in a PDA. Have a copy of your schedule available at your fingertips at all times.

5. Financial Skills

These are especially important when looking for that promotion. The higher up the ladder you go, the more you’ll have to deal with things like accounting, budgeting, financial planning and cash flow management.

While you may not need to be an expert at all of these, you should have a good grasp of all of them. This is where taking a few night classes at your local community college is a good idea. You don’t need to become an expert, but brushing up on these skills will help you tremendously.

Advertising

6. Research Skills

These are important in all aspects of life, but especially in your work-life.

Are you looking for that first job out of school? Nothing impresses a boss or hiring manager more than someone who has researched the company. Trust me, they deal with people walking in off the street everyday looking for a job, but managers and owners need to see the value in hiring (or promoting) you.

So do your research and have some company specific questions ready to ask. Show that you are interested in working for that company or that position and not just “a” job or the “promotion” because you have seniority or need the money.

If it’s a promotion that you are after, never bad mouth the previous occupant. Instead pick out an example that he/she was good at and explain how you would like to use or expand that policy and how it would enhance the policy changes you’d like to make.

If it’s a new job you’re going for, then make sure to have some company specific questions ready to show that you have done your homework for the new position.

7. Marketing Skills

While marketing a companies products or services has always been a highly sought after skill. In today’s world, it can take on several different forms.

Some of the marketing skills that are highly sought after today include, SEO, Search Engine Optimization, SEM, Search Engine Marketing and marketing campaign management. Familiarity with Google Analytics as well as Word Press are also valuable.

While traditional marketing and branding were focused on advertising and selling. Almost all marketing efforts now a days are focused on the internet.

8. Network Security Specialist

Again, this is a highly skilled position that requires specialized training. But the amount of data that all companies store is significant, and if that data is leaked or stolen, it can costs them millions of dollars in both lost revenue and lawsuits.

So, if you have an interest in network security you will find the field both lucrative and stable.

Advertising

9. Communication Skills

At first glance, communication skills may not look like it fits into the category of “Hard Skills” that can help you succeed. But in this ever shrinking world where companies can do business from almost anywhere, communication is more and more important.

Are you bilingual? It really doesn’t matter what language you speak, there’s a company out there looking for someone who speaks that language.

10. Computer Programming

I don’t know about you, but I’m pretty sure that computers are going to be around for a while! As both the hardware and software get more advanced, the need for computer programming is only going to increase.

11. Graphic Design

As of 2018, there were 4.37 million new websites launched.[2] A good number of them will fail because they just aren’t interesting enough visually. The use of templates and replicated websites is only making the problem worse.

Part of the way Google ranks sites is through originality, this almost ensures that replicated sites will never get ranked through Google. So the more original your site is, the more likely people will visit and actually spend time there.

That is what a good graphic designer does. Takes your basic idea and turns it into a website that people actually want to visit.

Embrace the Anxiety That Comes with Change

You know it’s going to be there, you know that you’ll want to give up as you’re learning these new skills but, you’ll also know that the end result is worth the journey.

Here’s a little trick when you’re feeling overwhelmed:

Have you ever met an ex-smoker who was sorry they quit? An ex-drinker or drug user that said life was much better before they quit? These people have gone through some of the most difficult challenges humans can go through including weeks, if not, months of intense physical withdrawal symptoms. They did it because they knew that the pain and anxiety they would experience would ultimately get them to a much better life.

Now what was that complaint you had about attending night-school?

Advertising

This is the part everyone hates, everyone thinks night-school, adult education and just generally giving up family and/or spare time. While those are certainly possible ways to develop the necessary skills, they aren’t the only way.

You’ll want to check with your human resources department because depending on the company, a certain degree maybe required in order to even be considered for a position. In those cases, night-school, on-line or some other form of adult education maybe your best route.

But as long as a degree isn’t required, then your options are wide open.

Let’s just say that you’re a sales person interested in becoming the sales manager but, the territory you’ve been given will never produce the sales figures that would make you stand out as a good candidate for sales manager. So how about you start your own side business (don’t compete with your company), but let’s say you enjoy golf.

In this day and age, there are plenty of places that will teach you how to sell products on-line and even set you up with your own website. So you start a site selling golf equipment and accessories (don’t worry, you won’t even have to carry inventory or worry about shipping).

Now, when that sales manager spot opens up, you can explain that even though other salespeople had better numbers than you, it had nothing to do with your sales ability, it was more of a consequence of the territory your were given.

And to prove it, you brought in some information about a side business, you started showing that you’re on target for a sales growth rate of 30% this year. And because you had to do all of the marketing for the business, you came up with some marketing strategies that you can bring to the new job (built-in experience).

The Bottom Line

We’ve put together these 11 hard skills as a way to give yourself a “leg up” on the competition. We’ve tried to make this a mixture of both skills that require a great deal of training, and also ones that you can work on and develop by yourself.

We know that not everyone is cut out to be a cloud computing expert, but we also know that working on and having good scheduling skills will make you a much more desirable candidate for the position!

We also don’t want you to discount the idea of a “side hustle“. Especially for people new to the workforce, having a business that you have started and run successfully shows potential employers that you have initiative, scheduling skills and ambition which can put you well ahead of your competition!

As usual, we hope you found this article both enjoyable and informative. If you did, may we ask that you share it with your family and friends through social media. It really does help us and is greatly appreciated!

More Skill to Help Advance Your Career

Featured photo credit: Kyle Sterk via unsplash.com

Reference

[1] Microsoft Azure: Cloud Computing
[2] Netcraft: December 2018 Web Server Survey

Read Next