Make decisions quickly, change them slowly

I remember reading about Henry Ford (the inventor of the Ford Motor Company in the US) – he had many wisdoms that he lived his life by, one of them being, “Make decisions quickly, change them slowly”.

Most people take far too long to make a decision because they are afraid of making the ‘wrong’ decision. And some make quick decisions based on fear. The fear of failure rules so many people’s hearts that it holds them back from progressing to the next level in their life or career. However, having said that, I would like to clarify that it is true that success does comes from quick decisions, however, it comes from informed quick decisions that are effectively thought through. This statement may sound like some ‘mumble jumble’ so please let me explain. I have always enjoyed making quick decisions. Some of them have not been good decisions, however the majority have been. I have made many decisions in a matter of a few minutes – from buying properties or businesses, to making important staff decisions. The one common element with all my decisions is that I ensure that I am informed about the decision beforehand and I have processed it correctly in my mind.

Here is a simple yet highly effective decision making strategy that you will be able to bring into every area of your life. I will use the example of buying a property to clarify the process. But remember, this is a process that you can use for any decision.

1st step : Create 5 key measures important to a good decision that can be objectively measured.

For example, with buying a property it may be as follows:

(a) Is the land size conducive to subdivision and hence value creation?

(b) Is the home in reasonable condition such that I can easily rent it out?

(c) Is it in a street that has a good capital upside?

(d) Is it in my price range?

(e) Can I create a 20% gross return over 2 years or at least $100,000 whichever is the greater?

2nd Step: Seek the knowledge of wise counsel.

It is important that with every decision that you discuss it with someone who has the ‘runs on the board’ in this area of life – that is, someone informed. This could be in the form of a quick phone call (2 minutes) to get confirmation of your thoughts.

3rd Step: Access your intuition (your heart).

Ensure that once step 1 and 2 are completed, that you use your intuition to get the final confirmation to go through with the decision.  The first time you use a process such as this one, it may take you a good degree of time to make the decision. However, your goal should always be to become highly effective with decision making by practicing getting faster and faster. Some areas of life will take longer than others depending on your experiences and on your access to wise counsel.

As you know, at SOL Results our commitment to you is to assist you in getting better results in every area of your life. Our current focus is to assist you in property, so if this is of interest, I encourage you to come along to the next Breakfast at the Next Level. And from that you can decide whether to do our course Real Estate Riches which will give you all the tools and wise counsel to become an effective decision maker in residential real estate. You can then go on the journey of wealth creation knowing you have the knowledge and skillset to safely create your own personal fortune in real estate.

You are where you are today because of the decisions of the past and you will be where you will be in the future because of your decisions from today.

Begin practicing effective decision making today and learn to enjoy making quick, informed, effective decisions. Measure your decisions and once you can see that you are making good quick decisions the majority of the time, you will see abundance appearing in your life.

Live with passion, stay on your life’s purpose and always be at peace.

 

Stan Kontos

Chairman & Co-Founder SOL Results

The toughest steel is forged in the hottest oven. Persist and you will win