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How to Constantly Make Right Decisions When Life Is Full of Uncertainties

How to Constantly Make Right Decisions When Life Is Full of Uncertainties

Have you ever gone through a situation so bad that you sat down for a moment and wondered if you have thought this through because then you wouldn’t be stuck in this mess? You probably have because half the hardships that we meet in our life are created by ridiculous decisions we make, which are a reflection of our productivity. From what and where to eat, to what career to pursue, every little aspect of your life depends on smart decisions and clever calculations. Read on to find out why.

Always Calculate the Cost And Benefit Before Making Decisions

Cost benefit calculation is one of the smartest ways through which leading business experts and brands strategically determine and foresee the future of a business move. Sure, all of us do try and think things through before diving right in to the conclusion of a business decision, but the bigger the impact, the bigger the risk. To reduce the risk and to reassure yourself of a successful venture, you need to do a cost benefit calculation. It should be very much a part of everyday life. Before making any substantial decision, analyze the costs and benefits.[1]

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Cost Benefit Analysis Helps You to Plan for the Future

The easiest way to execute a correct calculation and the right way to do it is by calculating the foreseeable cost as well as the expected quantifiable positive cash flow over a set period of time. This may sound a tad bit complicated but it is not. It’s as simple as planning all factors of a budget thoroughly so that you don’t have to face higher risks. Basically, cost benefit analysis reduces the risk.

It lets you lay a stronger foundation for your decision. It also helps you to foresee the changes that are going to occur to your plan and the mobilization of peripheral factors. It’s the smart way of making a decision. It’s a reflection of your productivity.

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The biggest challenge is the process itself. It’s not that easy after all. It requires quite bit of groundwork. You need to understand the environment that your decision is going to disrupt. A thorough analysis is much needed. You need to understand the trends and nature of the market.

Predict Potential Risks and Plan for Them

In its simplest form, cost benefit calculation is a basic analysis, of how much of any resources are you investing and what you are getting in return. You draw a parallel between the inputs and outputs.

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For instance, one could calculate how much one student studies for an exam and how high he will score on the paper. The result should be positively related, as in the more he studied, the better he must have scored. Or else, some peripheral element must have impacted the entire scenario.

In a larger context, you should ask yourself how much money you are investing into a business and what your profit will be. This needs to be analyzed long before the plan is implemented. In other words, the plan should be formed on the foundation of this calculation.

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One needs to be on their toes while calculating these means as even the slightest factor could bring about transformative impact. Being updated, clear and focused can help you tremendously. Being absolutely aware of your plan and its impacts is necessary.

It makes the decision making process simpler and clearer. Cost benefit calculation can be applied to both smaller and larger decisions. It also aids you to be accurate in your planning and execution process. Try using this tool for a successful life!

Reference

[1] Investopedia: Cost-Benefit Analysis

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Abhay Jeet Mishra

Writer at Lifehack & Enterested.com

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Last Updated on January 21, 2020

What Is Creativity? We All Have It, and Need It

What Is Creativity? We All Have It, and Need It

Do you think of yourself as a creative person? Do you play the drums or do watercolor paintings? Perhaps compose songs or direct plays? Can you even relate to any of these so called ‘creative’ experiences? Growing up, did you ever have that ‘artistic’ sibling or friend who excelled in drawing, playing instruments or literature? And you maybe wondered why you can’t even compose a birthday card greeting–or that drawing stick figures is the furthest you’ll ever get to drawing a family portrait. Many people have this common assumption that creativity is an inborn talent; only a special group of people are inherently creative, and everyone else just unfortunately does not have that special ability. You either have that creative flair or instinct, or you don’t. But, this is far from the truth! So what is creativity?

Can I Be Creative?

The fact is, that everyone has an innate creative ability. Despite what most people may think, creativity is a skill that everyone can learn and hone on. It’s a skill with huge leverage that allows you to generate enormous amounts of value from relatively little input. How is that so? You’ll have to start by expanding your definition of creativity. Ironically, you have to be creative and ‘think out of the box’ with the definition! Creativity at its heart, is being able to see things in a way that others cannot. It’s a skill that helps you find new perspectives to create new possibilities and solutions to different problems. So, if you encounter different challenges and problems that need solving on a regular basis, then creativity is an invaluable skill to have.Let’s say, for example, that you work in sales. Having creativity will help you to look for new ways to approach and reach out to potential customers. Or perhaps you’re a teacher. In this role you have to constantly look for new ways to deliver your message and educate your students.

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How Creativity Works

Let me break another misconception about creativity, which is that it’s only used to create completely “new” or “original” things. Again, this is far from the truth. Because nothing is ever completely new or original. Everything, including works of art, doesn’t come from nothing. Everything derives from some sort of inspiration. That means that creativity works by connecting things together in order to derive new meaning or value.From this perspective, you can see a lot of creativity in action. In technology, Apple combines traditional computers with design and aesthetics to create new ways to use digital products. In music, a musician may be inspired by various styles of music, instruments and rhythms to create an entirely new type of song. All of these examples are about connecting different ideas, finding common ground amongst the differences, and creating a completely new idea out of them.

What Really Is Creativity?

Creativity Needs an Intention

Another misconception about the creative process is that you can just be in a general “creative” state. Real creativity isn’t about coming up with “eureka!” moments for random ideas. Instead, to be truly creative, you need to have a direction. You have to ask yourself this question: “What problem am I trying to solve?” Only by knowing the answer to this question can you start flexing your creativity muscles. Often times, the idea of creativity is associated with the ‘Right’ brain, with intuition and imagination. Hence a lot of focus is placed on the ‘Right’ brain when it comes to creativity. But, to get the most out of creativity, you need to utilize both sides of your brain–Right and Left–which means using the analytical and logical part of your brain, too. This may sound surprising to you, but creativity has a lot to do with problem solving. And, problem solving inherently involves logic and analysis. So instead of throwing out the ‘Left’ brain, full creativity needs them to work in unison. For example, when you’re looking for new ideas, your ‘Left’ brain will guide you to a place of focus, which is based on your objective behind the ideas you’re searching for. The ‘Right’ brain then guides you to gather and explore based on your current focus. And when you decide to try out these new ideas, your ‘Right’ brain will give you novel solutions outside of the ones you already know. Your ‘Left’ brain then helps you evaluate and tune the solutions to work better in practice. So, logic and creativity actually work hand in hand, and not one at the expense of the other.

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Creativity Is a Skill

At the end of the day, creativity is a skill. It’s not some innate or natural born talent that some have over others. What this means is that creativity and innovation can be practiced and improved upon systematically.A skill can be learned and practiced by applying your strongest learning styles. Want to know what your learning style is? Try this test. A skill can be measured and improved through a Feedback Loop, and can be continuously upgraded over time by regular practice. Through regular practice, your creativity goes through different stages of proficiency. This means that you can become more and more creative! If you never thought that creativity was relevant to you, or that you don’t have a knack for being creative… think again! You can use creativity in any aspect of your life. In fact you should use it, as it will allow you to to break through your usual loop, get you out of your comfort zone, and inspire you to grow and try new things. Creativity will definitely give you an edge when you’re trying to solve a problem or come up with new solutions.

Start Connecting the Dots

Excited to start honing your creativity? Here at Lifehack, we’ve got a wealth of knowledge to help you get started. We understand that creativity is a matter of connecting things together in order to derive new meaning or value. So, if you want to learn how to start connecting the dots, check out these tips:

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Featured photo credit: rawpixel via unsplash.com

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