9 Ways to Make the Best Decision – Every Time!
Image sourced by blog author.
Hi there,
Before we dive into this week’s topic, heads up – we wanted to make sure you saw the new section we’ve added at the bottom of our Budget and Grow Rich® newsletter. That’s. . .“Arthur’s Adventures”.
Just so you know, these stories are true – anecdotes based on my life’s adventures – dating, family and friends and whatnot. You gotta have some fun and humor at least now and again. Enjoy.
Be sure to scroll down to see the third edition in this series.
You can find the first two episodes here and here.
Now let’s get to this week’s tips. . .
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9 Ways to Make the Best Decision – Every Time!
In February 2006, I Left the Marital Residence. It was awful but the right decision for everyone ultimately. My son Mike V. was Barely seven years old.
I moved across town and rented a small house, on the school bus route, so I could remain near my three children, Alice, Rita and Mike V.
Above all, I wanted to stay near my children and spend as much time with them as possible. It was Very Important to me that they felt that their Two parents Loved them Dearly.
That summer, for whatever reason my eX-wife, sent Sad Little Mike to sleepaway camp for a week. This just five months after his entire world blew up. He was a Very Sad kid.
That same summer, my eX also sent Michael’s older sister Rita to the same sleepaway camp for four weeks. She was nine.
But Rita’s four weeks ended the day Before Mike arrived.
In other words, their time at camp did not overlap, Not even for a minute. Mike had no support system. In fact, he cried himself to sleep every night. To say he was homesick would be an understatement.
Neither my eX who was a psychiatrist nor her parents who were both family therapists, asked me for my input. I Never would have sent Mike away to a foreign place, not even for one day. But alas, I’m a finance and accounting guy. But so it went.
When Michael returned home, he Declared that he would Never leave home again. Ouch!
You may not know this but Mike V. is a Big-time Soccer Player. Ultimately, he was a starter on his High School Varsity Team and was recruited by three Division 3 Colleges. Impressed me.
I dabbled in Rec (recreation) Soccer for 23 years and was mediocre at best.
Somehow, I learned that a local youth Travel Soccer Club held a one-week soccer camp (sleepaway) at a boarding school in Western Massachusetts.
I figured that would be perfect for Mike. . . so long as we could get him to suit up and go. Which was no easy task.
Based on my business studies, I got the idea that we run a ‘Cost Benefit Analysis’.
Yeah, I know. . . Mike was Only eight years old.
When Michael came to my house one weekend, we sat down and I floated the idea of sleepaway camp.
He was Patently Against It, again saying, “I don’t want to leave home. I’m not going away.”
I asked if we could talk about it.
He acquiesced, not that he really had a choice mind you. But I didn’t push.
I said, “Let’s do a ‘Good Bad Analysis’.”
That’s the name I came up with for Cost Benefit Analysis, adapted for an eight year old.
I took out a piece of paper and we sat down at the kitchen table.
I said, “Let’s figure out all the things about sleepaway camp that give you feelings – good or bad.”
So we began the exercise. . .
Together, we came up with 16 factors that played into his decision.
I told him he could have both positive and negative feelings about a particular factor.
Examples included leaving home; fear of not being able to sleep; learning soccer; seeing friends; making new friends; fun with soccer; learn how to kick with left foot; new experience; and a few more.
Then I asked Mike to rank each item with a score between zero and 10.
Zero meant that the factor had no impact, no feelings for him.
Ten meant he had strong feelings.
Turned out that when we added up the scores, the:
Benefits totaled 86; and,
Costs totaled 27.
I was Surprised. Mike was Too.
I looked Mike in the eye and asked, “Well, what do you think?”
He thought about it for a minute or so and replied, “Well, I guess I should try it.”
And so he did! He went to camp. Five teammates went too.
It wasn’t perfect, but it was decent!
More Important, this experience restored Mike’s confidence and openness to leave home and try new things.
A big win for Mike! Changed his life in fact.
To take a look at the Cost Benefit Analysis that did with Mike in 2008, scroll to the top of this blog.
Grab these 9 ways to make the best decision every time:
Isolate your analysis to one, single decision – one thing you have to make a decision about now or first. Too many decisions to make or too many things to decide on at a time can muddy the waters. It or they are a distraction. Focus on the most important thing or decision at hand.
If there’s a composite decision – or a series of decisions – a decision that requires the culmination of a number of decisions, decide each of those first, independently. Then, weigh the results of the initial decisions and come to a final decision about the overall factor(s).
For each one, list all the factors that are relevant to the decision (or ‘sub-decisions’) at hand. As Michael and I did, rank each sub-decision on a scale of 1 to 10. Your factors may include:
Money?
Cost of inputs?
Time?
Feelings?
Need for resources, materials and supplies?
Need more knowledge and know-how?
Etc.
Then evaluate the results of the ‘sub-decisions’ and arrive at a conclusion and final decision.
Analyze the costs. What can you do to reduce the costs or reduce the negative impact the costs will have on your outcome?
Plan your course of action.
Take action!
Evaluate the results – the outcome – of your actions versus what you expected. Did the benefits or results outweigh the costs?
How can you modify your plan and actions as needed to achieve your desired outcome?
Michael went on to go to college in upstate New York and lived in the dorms. He even did a semester abroad in yes, Kilgali, Rwanda.
Amazing for a kid whose world blew up when he was just seven years old and declared that he would never leave home again.
How about you?
How can you tilt the scales so that the benefits outweigh the costs?
And how can you make better decisions and Succeed 10X today?
To succeed even bigger, greater and stronger, 10X your success. Click here.
See you next week.
Arthur V.
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