Every now and then, business owners face the daunting task of making the hard decisions that determine their fate in the long term. And it is difficult to avoid this critical activity of decision making in any business. You see, the decision to avoid decision making, is a huge decision in itself.
[vc_video title="An Emotional Genius Approach to decision making" link="https://youtu.be/hKBW3vXCS7U"]
It means the business owner has decided not to direct the path of their business. They have decided to sit on their hands again and hope things turn out OK. That’s not much of a strategy if you ask me. Thing’s don’t just get better by themselves.
In my field of work, I interact with people who make the decision to ask me, rather than continue to struggle with their marketing, business development and growth. Contrarily, I see people complaining about how slow business is, but electing to keep repeating the same marketing errors, rather than make the decision to do something about it.
One of the common traits behind every successful business owner I have met, is that they make good decisions in a timely manner. They understand that if they avoid making decisions, they surrender control of their business and their future, to others. After all, the actions we take are what determine our success and these actions are governed by our decisions.
But business mastery is much more than decision making, it goes to making the right decision. Successful business owners invest their time and counsel when they need to make key business decisions because they understand the long term effect of decision making. Everyone else makes short sighted decisions based on the whim of emotion and it almost obviously haunts them in the short term.
So what makes one an emotional genius?
The concept of Emotional Genius is premised on mastering your emotions when you need to make a decision and erring on the side of logic instead. That way you can back up your decision with data and results rather than on hope and faith. It is so simple and effective a concept when applied appropriately.
How do you err on the side of caution?
Every time one has to practice decision making, two elements that influence rationality come to play. On the left is logic and on the right is emotion. Surprisingly, more business owners that you can imagine have outsourced emotion in their path of decision making and predictably so, most have lived to regret the decisions they made this way.
Erring on the side of logic when making a decision almost sounds like a no brainier, we all know that those business owners who have built successful businesses have made their decisions on this basis. But the human is such an emotional being and has often made wrong decisions on this inclination.
Being an emotional genius requires that you only assign to emotions those decisions which outcome you’re completely in control of. Otherwise, always priorities logic.
Think of how a casino works. The casino was built on a logical system of statistics. The system does not know how much you have or how much you’re going to bet and it doesn’t care. It doesn’t know which cards will be dealt next in order to make money.
All it does is repeat algorithmic edges over and over, winning and losing, with no concern over the uncertainty. As a result the house always wins!! That has been and shall continue being its comparative advantage, the ability to prioritize statistics over emotions.
What works for you?
Do you have any tips or ideas, to help people make better decisions? If you do, please share them!
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