9 Things to keep in mind when making a decision

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:

  1. Good data does not guarantee a good decision.
  2. You will always have incomplete information.
  3. Always take into account opportunity cost.
  4. A true binary option decision is rare. Look for a third option.
  5. Not deciding is a decision in itself. At least acknowledge that you’re deciding to not decide.
  6. You make the best decision based on all available information that you have and then face the consequences, good or bad.
  7. Good or bad is in the eye of the beholder.
  8. No decision is really final. Even supreme court decisions can be overturned.
  9. You are human. You’ll make mistakes. Don’t beat yourself too much.