Tag Decisions

5 Cents

Steve Keating 7 Comments

It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. – Mark Twain

Nobody can be right all the time but the best leaders are indeed right far more often than not. They are right more often than not because they best leaders have good judgment. The simple definition of judgment is: an opinion or decision that is based on careful thought or the act or process of forming an opinion or making a decision after careful thought.

Both of those definitions have the term “careful thought” in common. A decision based on careless thought is rarely a good decision and never as good of a decision as it could have been. 

A ball and a bat together cost $1.10. The bat costs $1.00 more than the ball. How much does the ball cost? 

Research says that 79% of the people who just answered that question instinctively, without careful thought answered that question wrong. 

Great leaders think and they think carefully before making a decision. They consider the consequences of their decision and the consequences of those consequences. Like a chess master they think several steps ahead of most people.

Great leaders think bigger.

Most importantly they know what they don’t know. They don’t assume much if anything. They verify their facts, they have people who they can bounce ideas off of, they count on those people to tell them the truth, not just what they want to hear.

The best leaders know that they can find out about the things they don’t know. They also know that their real problems come from “knowing” things that just aren’t true.

I think most people actually have the potential to have good judgment, they appear to lack good judgment because their decisions are instinctive rather than informed. They sometimes seem to think that a quick decision is better than a delayed decision. Great leaders know that a delayed right decision will beat a quick wrong decision every single time. Every single time.

I know I’m likely to get hundreds of tweets and responses saying I should go back to school and study math because they believe the answer to my earlier question is indeed 10 cents. 

I thought about telling you why 10 cents is wrong but I’m not going to. Instead I’ll tell you this, if you’re willing to pay attention, really pay attention, then all the information you need to make good decisions and show good judgment is readily available to you. 

You only need to pay real attention, you must linger on the words on the person you’re speaking with until you truly understand what they mean. You must read every word in a sentence because words matter, if you don’t your brain will play tricks on you and make you think that $1.05 is really $1.00. 

Your judgment improves when you think bigger, listen intently and observe with both your eyes and your mind wide open. You have good judgement, the question is will you develop the skills you need to make use of it. 

When you do, you’ll know without a doubt that the ball costs a mere 5 cents.

Good Decisions

Steve Keating 9 Comments

The right decision made at the wrong time is a bad decision. The right time to make a decision is when you have as many facts as you can get to make it. Sometimes it will be all the facts, sometimes it will be enough facts and sometimes you’ll have to make a decision with less facts than you would want. 

But if you intend to lead then you have to make decisions period!

Once you have all the facts available, whether you believe it’s enough facts or not, you must make a decision. Deciding not to make a decision or deciding to delay a decision IS A DECISION and it is frequently the wrong decision. In fact, it’s worse than a wrong decision because a wrong decision can be fixed, a “non-decision” often cannot.

I see people all the time who have the facts required to make a decision and yet just can’t bring themselves to make it. They think and think, rethink and rethink, sleep on it and still don’t come to a decision. 

When they finally decide something it’s often too late to have the positive impact that a more timely decision would have had.

I believe one of the major causes of poor decision making is a lack of awareness of values, vision, and mission. 

When faced with a decision ask yourself how each possible decision will align with your values. Does the decision get you closer to your vision or not?  Does the choice you would make “fit” with your mission? 

Here’s the real challenge: when asked, most people can’t clearly state their values, either their personal values or the values of their organization. Most every organization has some sort of vision and or mission statement but they are no better than a slogan unless people know what they are and actually align themselves to them. A vision and mission statement should be used to guide every decision made in the organization. 

If something doesn’t get you closer to your vision then why on earth would you do it. If something is contrary to your values or the values of your organization then your choice is clear…and much easier.

When you know AND live your values every decision is easier. When you understand your mission, either in business or in life, then every decision becomes clear. 

It requires some serious reflection to truly understand your values. You will also find your values much easier to know than to live. But that’s okay, values can not only help to keep you on track, they can help you get back on track when you fall off the rails.

When you know, really know, what your true values are, when you understand your mission and have a vision for your life and business then you will find yourself not only making faster decisions, you’ll find yourself making much better decisions too.

The Importance of Decision Making

Steve Keating 8 Comments

Successful people make good decisions. “Lucky” people make good decisions. The people you admire make good decisions. Good results are the product of good decisions.

I could make a strong case that everything “good” comes about as a result of good decisions. Perhaps some people could argue that not “everything” good comes from decisions but this much is certain; the quality of a person’s life is directed affected by the quality of their decisions.

Way too many people are virtually unaware of just how many decisions they make each day. You decide, yes YOU decide, who you hang around with, what you watch and listen to, who you believe, where your information comes from, when to go to bed, how much alcohol to drink, what to eat….all of those things are decisions. 

You even decide whether or not you will have a positive attitude. Yes, even your attitude is ultimately your decision and it is likely the biggest decision you make each day.

Perhaps you think you don’t need to make decisions in those areas, maybe you’re a “go with the flow” kinda person and you just let the people and circumstances around you “decide” for you. If that’s the case you should know that letting “others” decide for you often has the impact of making you less successful than you could be.

It’s great to ask others for advice and I strongly encourage people to have a mentor for that very reason but for decisions affecting you personally YOU should be making the final decision. 

You need to make your own decisions because ultimately it’s the decisions you make that make you who you are. There are outcomes, results, and consequences, both positive and negative, to every decision. Everything you say, do, and even think plays a role in determining who you really are. It’s worth investing a moment or two in deciding what’s best for you.

Some decisions will be harder than others. Some may be excruciatingly difficult. When you don’t know what to do just do the next right thing… the next right thing doesn’t have to be a big thing, baby steps are okay, just keep moving towards being the person you want to be. 

Your life is collectively made from all the decisions you make and don’t make. Work hard to make the decisions that give you the life you want. You’ll find that those decisions work just as hard for you!

The Value of Core Values

Steve Keating 8 Comments

Do you know your core values? It may seem like a simple question but it’s shocking how many people say yes and then can’t site even one true core value. They kind of float through life letting other people and random circumstances dictate their decisions. 

If that describes you then you should know that’s a high price to pay for never taking the time to truly reflect on what matters, to think back on the times when you followed a principle rather than a popular opinion. Without a solid understanding of your core values you can sometimes feel as if your life has lost its direction and purpose. You know something is just “off” and that something needs to change, you’re just not sure what.

When you define your core values you also discover what’s truly important to you. Core values, those ideas, beliefs, and principles that you hold closest are your guide to every decision and choice you make. 

Identifying and understanding your values is a challenging exercise but one that all truly successful people undertake from time to time. Their core values very rarely change but they review them periodically to keep them top of mind. It is a serious investment of time but one that is well worth the effort. When you understand and can readily identify your core values you’ll find it easier to make even the toughest decisions. Every choice either aligns with your values or they don’t; decisions don’t become smaller or less important but they do become easier, much easier.

Here’s how to discover your own core values:

Write down your values, that’s all the “stuff” that matters to you, don’t judge, write them all down, big ones, small ones, serious ones and silly ones. Write them ALL down. Take as long as you need, there is no deadline here…it could be weeks, maybe even months.  

Once you believe your list is complete then start prioritizing. If you had to eliminate one value which one would go away? Eliminate that value from your list, it doesn’t mean it’s not an important value, it’s just not a “core” value.

Review and prioritize your values list everyday until you have just 6 or 7 on your list…those are likely your core values.

Once you have your core values defined put some depth and specificity to them. Don’t leave yourself any wriggle room or wiggle you will. Share your values with those close to you. Share them with your mentor or accountability partner. 

You will find your core values and principles are easier to discover than they are to live so don’t be timid when asking for help to live them.

 

Emotional Decisions

Steve Keating 4 Comments

It’s perfectly fine to make emotional decisions…..so long as you take the emotions out before you decide anything. We humans are impatient people, we’re also a pretty reactionary bunch and when you add emotions into that mix you’ll often find yourself making some pretty poor decisions.

Everything can be going just fine and then, right out of nowhere, you receive some inexplicable information that completely turns your world upside down. You might be shocked, hurt, afraid, unhappy, and even just plain mad. You naturally want to put your world back where it belongs and the sooner the better. When that happens my best advice to you, and myself, is to just take a breath. Maybe several breaths, maybe several thousand breaths.

The best decisions are patient, careful, well crafted decisions, devoid of reaction and certainly with as much emotion removed as possible. Patience requires waiting, making a plan minimizes the tendency to react and talking, thinking, and careful consideration can help diminish the emotion.

It’s very possible, actually quite likely, that when you first receive the shocking information you really don’t have enough information to make a sound decision. Good judgment is a hallmark of effective leadership and emotions mixed with speed tend to remove the “good” from good judgment. 

So slow your roll!

Learn to live upside down for awhile, get to know your new world, inform yourself with facts not opinions, accept advice but decide on your own. Avoid the herd mentality that leads to rushed judgment. Don’t base your new reality on the experiences of others, your positive leadership influence could lead to very different outcome than you first anticipated. 

Not making hasty, poorly thought out decisions is actually the best way for you to maintain some level of control when your world starts spinning. You may not have complete control of where it stops but you can control how and when it stops. Making quick emotional decisions may make you human but it doesn’t make you a leader. Leaders know that control is more likely to come from patience than speed.

Your very human instinct to return to “normal” as soon as possible may be exactly the wrong thing to do. Trust yourself, trust your skills, trust your attitude, and trust your experience to eventually “right your ship.” And learn to embrace “eventually” because not everything needs to be “fixed” the same day it’s broken.

Hang in there and know for certain that a good decision beats an emotional quick decision every single time.

And one more thing….

If this shocking information affects your job remember it’s your job, not your life. You really only lose control of your life when you surrender control of your attitude. Your attitude is your greatest asset in times of turmoil but only when you choose to keep it positive. No one can take that choice from you but you can give it away. Never, never, never give it away.

How to Make a Decision-Maker

Steve Keating 5 Comments

I remember when George W. Bush was President he made a comment (I don’t recall the context) that he was the “decider.” He was laughed at and made fun of because of that statement. I really never understood why… I still don’t.

The ability to decide is a fundamental requirement of effective leadership. If you don’t have the ability to make a decision then you don’t have the ability to lead. In the absence of decisions leadership flounders and dies. Now, for those of you who want to put the qualifier “good” before the word decision you go right ahead. 

The reality is, you should be just as concerned with a lack of ability to make any decisions as you are about poor or bad decisions. Just as many organizations and businesses have failed because of no decisions as have failed because of poor decisions. It just might take a little longer. 

If you’re a leader who is interested in the development of the leaders who will follow you then helping them discover their ability to make decisions should be a major focus area for YOU. 

Help them to understand the difference between a “satisficing” decision and a maximized decision. Satisficing is an approach to decision-making that prioritizes an adequate solution over the optimal solution that comes from a maximized decision. While a maximized decision is always preferable sometimes time constraints and a lack of access to complete information will require a leader to go with an adequate solution. 

A maximized decision requires that you know and understand every option. They require considerably more time and energy and still, a maximizer decision-maker often has doubts about their decision because they find it hard to ever be truly certain.

Share with your future leaders where you find your information when making a decision. As you consider your sources you’ll likely find that a great many of your decisions are in fact satisficing decisions. 

You get as much information as you can and you combine it with your experience and instincts and you decide. That is what a decider does, they decide! Your future leaders have experience and instincts too and a lot of that came from you so how bad a decision can they make?

It’s never good to hold your people to a standard that you don’t hold yourself to. If you’re largely a satisficing decision-maker then don’t expect your people to always be maximizer decision-makers. They won’t be perfect decision makers, they will just be like you.

If you’re building tomorrow’s leaders then you must let them decide today. Start small, they don’t need to begin with million dollar decisions but they do need to begin. In order for your future leaders to begin you must stop. Stop deciding for them. 

Once you allow them to decide then you must stop second guessing their decisions. You can coach, you can gently suggest but you can’t overrule. Even if you believe they are wrong. Perhaps one of the best things to do when allowing others to make decisions that you have made in the past is to consider the very first principle from Dale Carnegie’s book, “How to Win Friends and Influence People.” The principle says, “Don’t condemn, criticize or complain.” 

One of the very best ways to learn to make decisions is simply to make them and then study the outcome. If the outcome was less than desirable then adjust the decision and study the results again. Some outcomes will be good, some will be bad, some may be worse than bad. If the person making the decisions is truly a leader they may learn more from a poor decision than they learn from a good one.

YES, I understand a poor decision can bring with it financial consequences. I’d simply encourage you to consider any negative financial consequences to be an investment in your future leaders…they are after all the future that you’re creating. 

 

Don’t Start Until You Stop

Steve Keating 3 Comments

Most people are really busy, at least they claim to be. Most people also wish they had more time but the truth is, no one on earth has more time than the people who say they don’t have enough. 

You see, you, and everyone else, have all the time in the world. No one, not one single person has more time than you. You have 1440 minutes a day, the exact same amount as everyone else. That’s why I don’t have much sympathy for people who constantly complain about not having enough. It’s as if they think the stuff they have to do is so important that they should somehow be given more time. 

Hogwash!

They don’t need more time, what they need is a lesson or two in prioritization. They need to look at their goals and values and decide what’s really worth doing and what doesn’t need to be done at all. They need to find a dictionary and look up the definition of busy and then look up the definition of productive. Notice that they aren’t the same.

They need to say no to the things that don’t matter so they can say yes to the things that do.

Despite their apparent shortage of time many of these same “short on time” folks will commit to doing more in 2016. They will commit to working out more, spending more time with family, taking up a new hobby and on and on it will go. 

If you’re one of these “never enough time” types then do yourself a BIG favor and just stop. Stop for a moment and ask yourself how anything “new” is even going to be remotely possible since you’ll have the exactly same amount of time in 2016 as you did in 2015.

Here’s a news flash for you: it’s very likely that your success in 2016 will be impacted at least as much by what you STOP doing as what you start doing. 

So begin 2016 by determining what you did in 2015 that you won’t do in 2016. What activities did you invest your precious resource of time in that gave you little or no return? Then why on earth would you continue to do them in 2015?

Successful people do not mistake busy for productive. They understand that what separates them from less successful people is often as simple as how well they use their time. 

Successful people use their time well but the most successful people are constantly asking themselves “is this the most effective use of my time at this particular moment?” 

If there is something more productive that you could be doing at any particular time then that’s what you should be doing. Now, before you go “all work and no play” on me understand that “productive” is your call. Sometimes spending some time to recharge your batteries WILL be the most productive thing you can be doing. That’s just fine so long as you’re honest with yourself.

So, before you add a single thing, task, or project to your to-do list in 2016 make sure you take something off. It’s the productive, and successful thing to do!