How to make big decisions more easily

Nazir wants to buy a new top of the range Range Rover. His reasons why were…

“It would enable me to carry lots of equipment!”

Actually, in the past two years he has never had to carry anything larger than a briefcase or set of golf clubs.

“It would help me beat the traffic and get to work in the worst ice and snow!”

Actually, the last time winter weather seriously disrupted road travel for more than a couple of days was in 1963.

“I will be able to travel in comfort and visit clients all over the country!”

Actually, all of Nazir’s clients are all based within 50 miles of his office

Nazir went ahead and bought his Range Rover that sat for a year as a wonderful but useless piece of jewellery on his drive. Paying for the Range Rover eventually bankrupted his business and it had to be returned to the leasing company.

Confirmation bias is the opposite of evidence-based decision making. It’s based upon deciding to do something and then constructing the evidence to justify your decision. Often, decision making is emotional – Nazir really wanted his Range Rover as a status symbol, but constructed reasons to make his decision more logical.

It’s important to honestly consider why we make our decisions. Make big decisions in a considered way, test the decision, and critique it as far as you can with a critical friend. Ultimately, the evidence will show you the way – if your decision doesn’t stack up, it isn’t worth making. 

Chew on this:

How do you usually make big decisions? Do you let your emotions get in the way?