Month: June 2020

Updated December 16, 2024. Everyone has to make decisions every day. Clearly all of us do it and we do it constantly. Decision making is a necessary and vitual skill. I would like to share with you the five best rules of decision making.

Let’s take a look at the process of decision making. In fact, the interesting thing is that these decisions are the thought processes that our brains engage in and they take place without us even consciously acknowledging that they are happening.

Choose A Life Of Abundance

As we all know, the decisions we make each day will help or hurt you daily. In addition, they will also help or hurt you in the long run as well. The decisions you make each day can and will provide the destiny that you desire. Therefore, choose a destiny of abundance.

Everyone wants abundance because abundance means we will have the money to improve our lives. Right now, let’s thank God for his abundance in our lives. In addition, I would like to share with you an excellent YouTube video called the 5 Golden Rules Of Decision Making.

Phil Pustejovsky, a real estate entrepreneur, filmed The 5 Golden Rules Of Decision Making. Phil lives in Daytona Beach, Florida. What is amazing is that he started with no capital and after years of hard work he is now financially free and one of the most successful real estate investors in the US.

To go into more detail, Phil is an extremely successful investor with 1,000s of deals under his belt. The reviews of Phil Pustejovsky are enormously positive because he and his team have transformed the financial lives of people from all walks of life through innovative real estate investing strategies and techniques.

Without further ado, we can sum up that Phil and his team are exceptional at making big and small decisions. As a result, this is an magnificent opportunity to learn from their experience.

Here are the Five Best Rules Of Decision Making:

Rule #1 No Decision Is The Worst Decision!

No decision means that you are avoiding a or shirking making a decision. In fact, in all situations require decision making. If you do NOT make a decision, you are basically saying that you don’t care. If you don’t care, then watch out. You know that bad things can happen to your business and in your life.

So even though maybe you don’t want to make a decision, in reality you need to make a decision now, or in the near future. Why? Because unmade decisions are the worst decisions!

Rule #2 Decision Making Is Like A Muscle

Decision-making is like a muscle that you have to develop. Then you have to maintain your decision-making muscle. As you make decisions this decision-making muscle will grow stronger each time you use it. Get and stay in the practice of constantly making decisions.

Let me give you an example. Being an entrepreneur, I often get into a conversation with a person that is interested in real estate. As we are talking I realize that the other person has no skill level with being able to make decisions.

Maybe the other individual has let their spouse make all the financial decisions or they have been an employee for a company and they have never had to make any major decisions. If this is a case for you, I urge you to start the process of developing your decision-making muscle. After a while, you will notice that decision making will become easier as you tackle bigger situations.

Rule #3 Powell’s 40-70 Technique

Colin Powell served in the US Army for 35 years. He had a distinguished career and eventually rose to the rank of 4-star general. Throughout Powell’s career as a leader, he faced countless tough decisions. Many had grave consequences for the lives of those serving under him. To help himself, Powell developed his own rule of thumb, which he called his 40-70 Rule.

Powell’s 40-70 Rule states that you need between 40 and 70 percent of the total information to make a decision. These are in essence the rules that will allow you to make an informed decision. With less than 40 percent you will likely make a poor choice and more than 70 percent you will end up taking too long and the decision will be made for you!

The point is that all leaders should aspire to make more correct decisions than incorrect ones, But they cannot be so fearful of making mistakes that they make no decisions at all. There has to be a balance between perfection and speed. The truth is that you will never have all the information you need to make a perfect decision.

Therefore, to be an effective decision maker, you need to get comfortable with making a call without all the data you think you require. For the rest, you have to trust your intuition and experience.

Rule #4 Write Down Why You Made That Decision

Writing down why you made that decision allows you to physically get out a pen or pencil and say why that decision is a good decision. You will find that writing down why you made the decision will give you a boost of power in your mind and body. If you study people who are successful, one of the things that they do is write down why they made major decisions. This helps you to recognize the facts behind each decision that helped you reach a final solution that you feel is correct.

Rule #5 Decide Quickly But Change Slowly

People that make difficult decisions move to the conclusion quickly. But sometimes after a decision is made, there is more information that could move their decision in the opposite direction. If the decision maker looks at the decision and determines that a different decision is a possibility, the decision maker will be slow in changing their mind. If there is a case with a decision you have already made, look again at all the information as well as the new information. Then decide if a change of this decision is really the correct answer.

Develop Your Decision Making Muscle

Decision making is a necessary and vitual skill. Use the five best rules of decision making and work on developing your decision-making muscle.

When looking to make decisions, first focus on the large factors that surround each decision. Next work on making decisions faster. When you succeed at making decisions faster, you will be surprised by the positive changes that start to happen in your life.

Matthew 7:8 NLT

⁸ For everyone who asks, receives. Everyone who seeks, finds. And to everyone who knocks, the door will be opened.

What Popular Articles And Blogs Do You Recommend?

Further Reading on FinancialGoodness.com: For more articles and blogs on real estate investing, check out our guides to Real Estate Investing Strategies That Work Every Time and the Best Real Estate Strategies To Make 7 Figures.

If you have the goal of achieving $1 million+, please read my blog How To Become A High Net Worth Individual.

In addition, watch the excellent YouTube video How To Become an Ultra High-Net Worth Individual by a fancinating guy named Andrew Hendersen, founder of Nomad Capitalist. He believes that the world has changed forever and says it’s time for you to “go where you’re treated best.”

Until my next blog, stay healthy and best wishes!

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Last Updated on December 16, 2024 by Financial Goodness