I’ve had the ‘privilege’ to make some difficult decisions in my life (with more to come). Some of them were decisions that brought me a lot of opportunities. Some of them were mistakes that I just have to live with. Regardless, I don’t have a lot of regrets.
Here are some of the things I try to keep in mind when I make a decision:
- Good data does not guarantee a good decision.
- You will always have incomplete information.
- Always take into account opportunity cost.
- A true binary option decision is rare. Look for a third option.
- Not deciding is a decision in itself. At least acknowledge that you’re deciding to not decide.
- You make the best decision based on all available information that you have and then face the consequences, good or bad.
- Good or bad is in the eye of the beholder.
- No decision is really final. Even supreme court decisions can be overturned.
- You are human. You’ll make mistakes. Don’t beat yourself too much.