One of the questions which I always receive from people around the world is ‘’how to make better decisions’’. And in fact, making better decisions is very important for us because it determines how the quality of our lives look like. As a rule, Better decisions = better life.
So here is how to make better decisions in 7 steps:
First, start by identifying exactly what you want. You can do this by summarizing the end target that you want to achieve in one sentence including all the aspects such as time, money, effort…etc. As an example, write something such as ‘’ I want to enroll in an MBA program which is full time, maximum 1.5 years of studying, and the maximum that I would like to pay is 20,000 Dollars……’’
Second, define your alternatives and options which fit with this end target that you defined in the previous point. To use the same MBA example, you can find option MBA in University a, University b, and University c as an example.
Third, define your decisions criteria. Now that you have options a, b, and c to choose from, you have to identify the important factors that you want to consider in your decision, or in other words ‘’based on what you will compare these options which each other’’. The decision criteria can be financial such as cost, money…etc. It can be time, or it can be anything which is important to you. To use the same MBA example, the decision criteria may be things such as the cost of the MBA program, the duration of the MBA program and the quality of the Program.
Fourth, define a weighting score for each criterion based on its importance to you. As an example, let us say the Cost decision criteria is the most important one to you then you can give it a score of 10 points, the Quality of the program is less important to you in general so you can give it a weighting score of 7 points and so on. If all of them are equally important to you, then put the score of each criterion as 10 for example.
Fifth, now, go back to your options a, b, and c and start giving scores to each decision criteria based on these options. As an example for option a, the cost of the program is low, so you will give it 10 points out of 10. For option b, the cost is intermediate so you will give it 5 or 6 points out of 10 and so on until you give scores to all your decision criteria’s and to each option that you have.
Sixth, Add the scores that you have for all the decision criteria of each option and compare the scores of option a, b, and c and take the one with the highest score because simply, the higher the score, the more relevant the option to your end target that we mentioned in point one.
Finally, if you need to choose only one option and you have a tie between two options or more. Then take these two options alone and try extending the decision criteria. In the MBA example, you can add more decision criteria such as the standard of living in the city of the university, the accreditations of each MBA program and so on.
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And before you leave, just imagine what you can achieve, believe that you can achieve it. And act to make it happen.