Decision Making Process

Decision Making

This post is about the importance of the decision-making process…and how it affects our lives! Most would agree that good, sound decision-making will lead to much better conclusions and a better lifestyle than sloppy,  risky, whimsical, so-what methods.  I submit that you can significantly improve your financial status and overall quality of your lifestyle by employing good decision-making! Have you ever considered this topic seriously? Have you ever had a course in decision-making? I am pleased to say that I have on several occasions.

No help here!

There are many scientific methods that you can select to identify and use to reach good decisions however most of the time we use our emotions and feelings about the situation or opportunity in order to reach a decision or action. The first question that we face particularly in a buying decision is “do I have a need?”….or “could the outcome be significantly improved?” and that is a very logical question… but only if you answer these questions correctly. If you answer them incorrectly then your first decision is a very poor one and it can be very costly to you. We see people go to the auto dealership and buy into very expensive automobiles…many times when they didn’t have a need for the expensive model however wanted “to feel good” or wanted “to display a status of success” or other emotional reason. Obviously they were not driven by logical needs, they were driven by emotional reasons.


Buying Decision Process

This emotional process can very often cloud the “real needs” that we have and therefore many times as a result we make poor decisions about how we should proceed. I believe strongly that for any area of expertise in which you are not an expert, that you should call upon professionals who can give you advice and training if necessary, on that particular topic, and then you are much better equipped to make better decisions. For important decisions about your financial independence I highly recommend that you employ a highly qualified team of well qualified financial advisors to assist you in financial planning, CPA’s for your tax preparation, law firms for your legal needs, an insurance agent that truly understands all aspects of risk management, doctors for your medical needs, and business consultants for helping you to grow your business.

The rationale for this team of professionals is that each of these professional specialties are well-trained and educated to give you the best of advice and full range of alternatives so that you, yes you and not them, can make the best decisions in your own interests. I further believe strongly that all of these professionals should be selected well in advance of any crisis or critical need so that you avoid the potential mistakes of making last-minute quick decisions that may not prove to be the right ones. Critical circumstances can occur at any time in all of these areas, and the prudent, responsible individual and family leaders will have prepared themselves well in advance.

I would welcome your thoughts on these beliefs and recommendations. You may contact me on email or on the phone5.

Dan Norris
Small Business Consultant

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